- DP World Limited announces resilient financial results for FY2023.
- Profit for the year decreased by 17.7%.
- Investments are to be focused mainly on Jebel Ali, London Gateway, Inland Logistics, Dakar, East Java, Callao, and Jeddah.
DP World Limited announces resilient financial results for FY2023, with adjusted EBITDA remaining stable at $5.1 billion despite challenges, reports Media Office.
Revenue Growth
Revenue increased by 6.6% to $18,250 million, driven by growth in Drydocks World and full-year consolidation benefits from the Imperial Logistics acquisition.
Profit and Cash Generation
Profit for the year decreased by 17.7% to $1,514 million, mainly due to higher finance costs.
Robust Cash Generation
Cash generated from operating activities increased by 2.9% to $4,579 million in 2023.
Investment Strategy: Selective Investments
Capital expenditure of $2,112 million was invested across the existing portfolio, with a budget of approximately $2.0 billion for 2024.
Key Strategic Growth Markets
Investments are to be focused mainly on Jebel Ali, London Gateway, Inland Logistics, Dakar, East Java, Callao, and Jeddah.
Business Strategy
Revenue Synergies: DP World focused on driving revenue synergies and building long-term relationships with cargo owners.
Supply Chain Solutions
Aim to deliver supply chain solutions to cargo owners by leveraging best-in-class infrastructure and enhancing logistics portfolio.
Environmental Commitment: Transition to Net Zero
Committed to transitioning to net zero in line with the UAE 2050 Initiative, with a 13% decarbonization in Scope 1 and Scope 2 carbon emissions.
Outlook and Commentary: Resilient Performance
Despite uncertain geopolitical and macroeconomic conditions, DP World delivered a steady performance in 2023.
Positive Outlook
Maintain a positive outlook on the medium to long-term fundamentals of the industry and DP World’s capacity to deliver sustainable returns consistently.
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Source: Media Office
