UAE's DP World Reports Record Revenue Of USD 20 Billion In 2024

DP World Limited has shared its financial outcomes for the year ending 31st December 2024. Revenue increased by 9.7% to reach $20 billion, while adjusted EBITDA grew by 6.7% to $5.5 billion, with a margin of 27.2%. This growth was largely driven by enhanced performance in ports and terminals, along with contributions from new acquisitions and concessions.

The revenue per TEU for ports and terminals saw a like-for-like increase of 13.9%, particularly strong in the Middle East and the Americas. DP World's capacity surpassed 100 million TEU due to strategic infrastructure investments in key markets. Capital expenditure reached $2.2 billion, slightly up from $2.1 billion in 2023, focusing on existing portfolio enhancements.

Looking ahead, the capital expenditure budget for 2025 is set at approximately $2.5 billion. This will be primarily allocated to projects in Jebel Ali, Drydocks World, Jebel Ali Freezone, Tuna Tekra in India, London Gateway in the UK, Ndayane in Senegal, and Jeddah in Saudi Arabia.

Sultan Ahmed bin Sulayem, DP World Group Chairman and CEO, expressed pride in achieving record revenue of $20 billion and EBITDA of $5.5 billion for 2024 amidst challenging geopolitical conditions. "These results demonstrate the benefits of our strategic focus on high-margin cargo, end-to-end integrated supply chain solutions and disciplined cost optimisation," he stated.

Bin Sulayem emphasised that this strategy positions DP World for sustained long-term growth and value creation by enhancing efficiency, expanding capabilities, and deepening partnerships. He noted that DP World is building a resilient business well-equipped to seize new opportunities as global trade evolves.

The company continues to invest strategically through targeted acquisitions and expansion into new locations while adding high-value capabilities that align with clients' evolving needs. Bin Sulayem maintained a positive medium-term outlook supported by strong industry fundamentals and DP World's ability to deliver sustainable long-term returns.

Cash generated from operating activities rose by 18.9% to $5.5 billion in 2024 compared to $4.6 billion in 2023. This increase underscores the company's robust financial health and operational efficiency.

The company's strategic initiatives are expected to continue driving growth as it adapts to changing market dynamics while maintaining a focus on sustainable development.

With inputs from WAM