Full-year results show revenue growth of 9.7 per cent, mainly due to improved performance of ports and terminals
DP World has announced financial results for the year ended 31 December 2024, with revenue growing 9.7 per cent to US$20bn and adjusted EBITDA up 6.7 per cent to US$5.5bn.
According to the Dubai-based logistics group, revenue growth was mainly due to improved performance in ports and terminals, boosted by contributions from new acquisitions and concessions.
Ports and terminals revenue per TEU increased 13.9 per cent on a like-for-like basis, it noted, with strong growth from the Middle East and Americas.
Profit for the year was US$1.5 billion, the company said, a drop of 2 per cent, mainly due to higher finance costs.
DP World described its performance as “strong”, but warned the outlook remained uncertain due to geopolitical risks and changing global trade landscape.
”We are proud to report record revenue of US$20bn and record EBITDA of US$5.5 billion for 2024, a remarkable achievement given the complex geopolitical landscape,” confirmed group chairman and CEO Sultan Ahmed bin Sulayem.
”These results demonstrate the benefits of our strategic focus on high-margin cargo, end-to-end integrated supply chain solutions and disciplined cost optimisation.
”This strategy is positioning DP World for sustained long-term growth and value creation,” he continued. ”By enhancing efficiency, expanding our capabilities and deepening partnerships, we are building a resilient business, well-equipped to capitalise on new opportunities as global trade evolves.
”We continue to strengthen our logistics platform, attracting more cargo owners with end-to-end, tailored solutions that drive efficiency and improve the flow of trade.
”The increased demand for our integrated offerings highlights the value we bring to customers seeking optimised, high-performance supply chain solutions,” noted bin Sulayem.
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,” he confirmed. “We remain confident in the strength of our portfolio, which we expect to continue delivering robust performance.
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,” bin Sulayem added.
”We maintain a positive medium-term outlook, supported by strong industry fundamentals and DP World’s ability to deliver sustainable, long-term returns.”
