Dubai-based DP World, a leading enabler of global trade, has posted revenue of $3.9 billion for 2015, as against $3.4 billion during the previous year, marking an increase of 16.3 per cent.

Adjusted EBITDA increased 21.4 per cent, delivering profit of $883 million attributable to owners of the company, an increase of 30.7 per cent, and EPS of $1.063.

The company recorded a volume growth of 2.7 per cent ahead of industry growth estimated at 1.1 per cent, while containerised revenue per TEU (twenty-foot equivalent unit) grew 3.2 per cent on a like-for-like basis.

Non-container revenue increased 8.2 per cent on a like-for-like basis and up by 64.6 per cent on a reported basis due to acquisitions.

DP World Group chairman and CEO, Sultan Ahmed Bin Sulayem said: “We are pleased to announce a strong set of financial results for 2015, reporting earnings growth of 31 per cent year on year, driven by the acquisition of EZW and robust underlying growth.”

“This financial performance has been achieved despite uncertain market conditions, which once again demonstrates the well diversified and resilient nature of our portfolio with its focus on high growth markets.

“In 2015, we have invested approximately $5.4 billion with $4 billion in acquisitions and $1.4 billion in capex, and this investment leaves us well placed to capitalise on the significant medium to long-term growth potential of this industry. Furthermore, we are pleased to report strong progress with EZW with continued growth as we benefit from operating an integrated logistics hub,” he added.     

“The Board of DP World is recommending increasing the dividend by 28 per cent to a total dividend of $249 million, or 30 US cents per share to reflect the increase in our earnings.  The Board is confident of the Company’s ability to continue to generate cash and support our future growth whilst maintaining a consistent dividend payout,” said Bin Sulayem.

“While 2016 is expected to be another challenging year for global trade, we have made an encouraging start to the year and current trading is in line with group expectations. Macro-economic conditions and geopolitical issues across some locations remain uncertain but we believe our portfolio is well positioned to deliver volume growth ahead of the market this year.

“We remain on course to deliver over 100 million TEU of capacity by 2020, while maintaining the existing shape of our portfolio that has a 70 per cent exposure to origin and destination cargo and 75 per cent exposure to faster growing markets. This positioning should enable us to deliver attractive earnings growth and shareholder value over the long term,” he concluded. – TradeArabia News Service