DP WORLD has reported a record $20 billion revenue and record EBITDA of $5.5 billion for 2024.
In a release announcing the new records, the UAE-based company said revenue had grown by 9.7%, mainly due to improved performance from ports and terminals and contributions from new acquisitions and concessions.
Adjusted EBITDA grew by 6.7% with an EBITDA margin for the year at 27.2%, but profit for the year of $1.5 billion was down by 2%, mainly due to higher finance costs.
DP World capacity now exceeds 100 million TEU with a capital expenditure budget for 2025 of around $2.5 billion to be invested mainly in Jebel Ali (UAE), Drydocks World and Jebel Ali Freezone (UAE), Tuna Tekra (India), London Gateway (UK), Ndayane (Senegal and Jedda (Saudi Arabia).
The report said DP World was focused on driving revenue synergies and building long-term relationships with cargo owners.
It is also committed to long term sustainability. It issued a US$100 million blue bond, which it said was the first for a corporate from the Central and Eastern Europe, Middle East and Africa (CEEMEA) region. DP World also became the first logistics company in the region to have its targets validated by the science-based targets initiative, which it said was a significant step towards decarbonising supply chains for its customers.
