DP World Reports Record $20 Billion Revenue Amid Global Trade Challenges, Plans Major Port Investments

Global port operator DP World has announced record financial results for 2024, with revenue reaching $20.0 billion, marking a 9.7% increase from the previous year. The company’s adjusted EBITDA rose by 6.7% to $5.5 billion, demonstrating resilience in a complex global trade environment.

DP World’s container handling capacity has now exceeded 100 million TEU, achieved through strategic infrastructure investments in key growth markets. The company’s expansion continues with a planned capital expenditure of $2.5 billion for 2025, focusing on major developments across multiple regions including Jebel Ali in the UAE, London Gateway in the UK, and new projects in India, Senegal, and Saudi Arabia.

The company’s financial performance showed mixed results, with strong revenue growth but a slight decline in profitability. While revenue and EBITDA reached record levels, profit for the year decreased by 2.0% to $1.5 billion, primarily due to increased finance costs.

Sultan Ahmed bin Sulayem, DP World Group Chairman and CEO, emphasized the company’s strategic focus on high-margin cargo and integrated supply chain solutions: “These results demonstrate the benefits of our strategic focus on high-margin cargo, end-to-end integrated supply chain solutions and disciplined cost optimization.”

The company reported strong cash generation, with operating activities generating $5.5 billion in 2024, an 18.9% increase from $4.6 billion in 2023. DP World has also improved its financial position by reducing leverage, with net debt to adjusted EBITDA on a pre-IFRS16 basis decreasing to 3.4x from 3.7x in the previous year.

In addition to financial performance, DP World has made significant strides in sustainability initiatives. The company issued a $100 million blue bond, becoming the first corporate entity from the CEEMEA region to do so. It has also achieved validation from the Science Based Targets initiative for its environmental goals and exceeded its 10.5% reduction target for Scope 1 and Scope 2 carbon emissions.

Looking ahead, while acknowledging strong performance in early 2025, the company remains cautious about global trade uncertainties due to ongoing geopolitical challenges. Despite these challenges, DP World maintains a positive medium-term outlook, supported by strong industry fundamentals and its strategic positioning in key markets.

The company’s performance and expansion plans reflect its continued evolution from a traditional port operator to a comprehensive global supply chain solutions provider, focusing on enhanced logistics capabilities and deeper relationships with cargo owners.

source : gcaptain