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DUBAI: March 18, 2018. DP World has reported a 13.2 percent increase in revenue in 2017 to US$4.71 billion; a 9.1 percent rise in adjusted EBITDA to US$2.47 billion and a net profit of US$1.36 billion – up 8.2. percent year-on-year.

Consolidated throughput was 36.48 million TEU, an increase of 24.7 percent over 2016, although total revenue per TEU remained broadly flat at -0.2 percent.

The company expects capital expenditure this year up to US$1.4 billion with investment planned in the UAE, Posorja, Ecuador; Berbera, Somaliland; Pusan, South Korea; Maputo, Mozambique; and Sokhna, Egypt.

CAMCommenting on the results, DP World chairman and CEO Sultan Ahmed Bin Sulayem said: “In recent years, we have leveraged on our in-house expertise to extend our core business into port-related, maritime, transportation and logistics sectors with the objective of diversifying our revenue base and connecting directly with the owners of cargo and aggregators of demand to remove inefficiencies in trade, improve the quality of our earnings and drive returns."

Noting global trade “picked up significantly” last year with upside surprises in Europe, the U.S. and Asia, Bin Sulayem said the company was confident the improved growth momentum would continue in 2018 and 2019 “despite the challenge of geopolitical headwinds” in some regions.

“Going forward, we expect this trend to continue as we seek opportunities in complementary sectors in the global supply chain and also make use of new technology and data solutions to provide better service to our customers,” he added.

In a related move DP World has acquired Peru-based intergrated logistics operator Cosmos Agencia Maritima (above) for US$315.72 million. "The acquisition not only extends our footprint in Latin America, a region which we believe has significant growth potential but importantly adds to our existing presence Peru, where we already operate a container terminal in the port in Callao," said Bin Sulayem.

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