DP World Not Fazed by Shipping Doldrums
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.”
- 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.