Dubai’s DP World posts $749m profit in 2012 on strong global ops

20 March 2013 08:00  [Source: ICIS news]

SINGAPORE (ICIS)--Port operator DP World said on Wednesday its net profit rose by 10% year on year to $749m (€584m) in 2012 after a strong performance from its global operations for the 12 months ending 31 December 2012.

The Dubai-based international terminals operator recorded a 5% year-on-year increase in revenue to $3.12bn on the back of strong growth in the Middle East, Europe and Africa regions, it said in a statement on its website.

The company’s adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose 8% to $1.41bn.

“Whilst the operating environment has remained challenging in some of our regions, it is the strength of our operations in Africa, Middle East, South America and Asia which has supported our improvement in adjusted EBITDA to $1.4bn,” DP World Group Chief Executive, Mohammed Sharaf, said in the statement.

DP World operates over 60 terminals across six continents with container handling generating around 80% of its revenue.

($1 = €0.78)

By: Muhamad Fadhil
+65 6780 4356

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