DP World Not Fazed by Shipping Doldrums

Press Release
Thursday, March 21, 2013

DP World announce financial results from its global portfolio of marine terminals for the twelve months ending 31 December 2012.

DP World Chairman, Sultan Ahmed Bin Sulayem commented; “DP World delivered profit for the year of US$749 million following a strong year of operational performance from its global operations, prudent financial management and proactive management of assets, whilst continuing to invest in the future growth of the Company.”

Highlights

  • Revenue increased 5% to $3,121 million
  • Good improvement in adjusted EBITDA2 of 8% to $1,407 million with record EBITDA margins of 45.1%
  • Profit for the year attributable to owners of the Company was 10% ahead at $749 million3
  • Earnings per share increased 10% to 90 cents
  • Higher net cash from operating activities of $1,231 million Reduction in net debt to $2.9 billion
  • Continued investment in quality long term assets
  • Total dividend of 24 US cents; 10% increase in ordinary dividend to 21 US cents per share and special dividend of 3 US cents per share

DP World Chairman, Sultan Ahmed Bin Sulayem commented; “Delivering this improvement in profits during what has been a challenging operating environment shows that our portfolio is focused on the right markets, and on delivering the right operations and service to our customers.

“This year, we have continued to actively manage our portfolio to maximum advantage, divesting non-core or low return assets. This has enabled us to move capital into those markets where we see more profitable returns whilst strengthening our capital base.


 

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

British Queen to Name New Ship

Queen Elizabeth II will christen P&O Cruises’ new flagship Britannia in Southampton, England, on March 10. She will be accompanied by her husband, Prince Philip, the Duke of Edinburgh.

Zamakona Yards' Commitment to Well-being

Recently employees of Zamakona Yards participated in a training course for maintaining Health, Safety and Environment (HSE). The theoretical practice focused on working at heights,

GasLog Post 4Q 2014 Results

GasLog Ltd. and its subsidiaries an international owner, operator and manager of liquefied natural gas carriers, today reported its unaudited financial results for the quarter ended December 31,

Ports

Container Ship Runs Aground at Fremantle Port

A ship that ran aground at Fremantle Port early Saturday has been refloated. The 62,000-tonne Denmark-registered container ship Maersk Garonne became stuck in soft sand about 500m off South Mole.

Chassis Pools for Port of Long Beach

Three companies that own the vast majority of chassis serving the San Pedro Bay ports are on track to activate a “gray chassis fleet” of truck-trailers on March 1,

More Floating Accommodation for Lerwick

An accommodation ship, the SNAV Toscana is due at Lerwick on or around 6 March 2015 to supplement the floating accommodation at the port. Formerly operated as an Italian ferry,

Finance

Jinhui Shipping Plummets to Loss

Norway listed dry bulk shipper Jinhui Shipping said the tough market that owners faced last year will become tougher in 2015.   Dry bulk shipping market Environment

Berenberg in $1.1bln Box Bid

The world's second-oldest bank Joh. Berenberg Gossler & Co. KG is lining up a new fund worth EUR 1bn ($1.1bn) for the containership sector.   A report appeared

GasLog Post 4Q 2014 Results

GasLog Ltd. and its subsidiaries an international owner, operator and manager of liquefied natural gas carriers, today reported its unaudited financial results for the quarter ended December 31,

Logistics

Great Lakes Shipping Worries about Tough Spring

Ice conditions have been causing concern for Great Lakes shipping industry. The satellite images show that the Great Lakes once again almost entirely covered in ice.

Jinhui Shipping Plummets to Loss

Norway listed dry bulk shipper Jinhui Shipping said the tough market that owners faced last year will become tougher in 2015.   Dry bulk shipping market Environment

Berenberg in $1.1bln Box Bid

The world's second-oldest bank Joh. Berenberg Gossler & Co. KG is lining up a new fund worth EUR 1bn ($1.1bn) for the containership sector.   A report appeared

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1908 sec (5 req/sec)