DP World, one of the world's biggest port operators, said its revenue for 2024 grew 9.7 per cent to a record $20 billion on improved ports and terminals performance as well as contributions from new acquisitions and concessions.
The company’s adjusted Ebitda (earnings before interest, taxes, depreciation and amortisation) increased by 6.7 per cent to $5.5 billion with an adjusted Ebitda margin of 27.2 per cent, the Dubai company said on Thursday.
It is “a remarkable achievement given the complex geopolitical landscape. These results demonstrate the benefits of our strategic focus on high-margin cargo, end-to-end integrated supply chain solutions and disciplined cost optimisation”, said Sultan bin Sulayem, DP World's group chairman and chief executive.
"As part of our long-term strategy, we continue to invest in our portfolio through targeted bolt-on acquisitions, expand into new locations and add high-value capabilities that align with our clients' evolving needs," he said.
Profit for the year was down 2 per cent at $1.5 billion due to higher finance costs, DP World said.
While the company achieved a strong financial performance in 2024, the outlook remains uncertain due to geopolitical risks and changing global trade landscape, it said.
In January, DP World said it is considering additional investments in its port operations in Peru, after expanding the Port of Callao in the Andean country last year.
With port operations spanning from Canada to Australia, DP World has passed 100 million 20-foot equivalent units (TEUs) of container-handling capacity across its global operations, it said earlier this year. Its global gross container handling capacity increased by 5 per cent in 2024.
Global container throughput is projected to expand by 2.8 per cent this year, according to Drewry Container Forecaster. DP World, with its investments in underdeveloped markets such as Tanzania and Romania, has expanded capacity and boosted trade in regions previously constrained by infrastructure challenges.
The Dubai company holds a 9.2 per cent share of the global container market, supported by a 33 per cent growth in capacity since 2014, it said on January 7.
"Our asset-appropriate strategy, combined with critical infrastructure in key markets, ensures that we scale efficiently while delivering specialised capabilities where they are needed most. Strategic investments in high-growth sectors and emerging trade corridors are expanding our expertise, enabling us to provide value-added solutions," Mr bin Sulayem said.
