DP World reported a 9.7 percent increase in revenue to $20 billion and a 6.7 percent increase in adjusted EBITDA to $5.5 billion for the fiscal year ending 31 December 2024, reports Container News.
The adjusted EBITDA margin was 27.2 percent. DP World witnessed revenue growth of 9.7 percent, attributable to improved performance from ports and terminals and contributions from new acquisitions and concessions.
DP World Reports Stronger Financial Results for 2024
Ports and terminals revenue per TEU increased 13.9 per cent on a like-for-like basis, driven by strong growth in the Middle East and Americas. The group’s capacity surpassed 100 million TEUs due to strategic infrastructure investment in key growth markets, reported the group. The existing portfolio received $2.2 billion in capital expenditure ($2.1 billion in 2023).
Group Chairman and CEO, Sultan Ahmed bin Sulayem, said: “In 2024, we delivered a strong performance, further reinforcing our financial position by reducing net leverage and strengthening the balance sheet. While the year has started on a positive note, global trade remains in flux due to ongoing geopolitical challenges. We remain confident in the strength of our portfolio, which we expect to continue delivering robust performance.”
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Source: Container News
