DP World: We are proud to report record revenue of $20.0 billion

DP World Limited has announced financial results for the year ended 31 December 2024. On a reported basis, revenue grew by 9.7% to $20.0 billion and adjusted EBITDA rose by 6.7% to $5.5 billion with an adjusted EBITDA margin of 27.2%.

Results Highlights

Revenue increased by 9.7% to a record $0 billion

• Revenue growth of 9.7% was mainly due to improved performance from Ports and terminals and contributions from new acquisitions and concessions.
• Ports and terminals revenue per TEU increased 13.9% on a like-for-like basis with strong growth from the Middle East and Americas.

 Adjusted EBITDA increased by 6.7% to a record $5.5 billion

• Adjusted EBITDA grew by 6.7% and EBITDA margin for the year stood at 27.2% as well as like-for-like adjusted EBITDA margin.

Profit for the year was $1.5 billion

• • Profit for the year decreased by 2.0% mainly due to higher finance costs.

DP World capacity exceeds 100 million TEU – continued investment in key growth markets

• DP World capacity exceeded 100 million TEU due to selective infrastructure investment in key growth markets.
• Capital expenditure of $2.2 billion ($2.1 billion in 2023) was invested across the existing portfolio.
• Capital expenditure budget for 2025 is approximately $2.5 billion to be invested mainly in Jebel Ali (UAE), Drydocks World and Jebel Ali Freezone (UAE), Tuna Tekra (India), London Gateway (UK), Ndayane (Senegal) and Jeddah (Saudi Arabia).

DP World focused on driving revenue synergies and building long-term relationships with cargo owners

• Enhanced logistics portfolio offers value-added capabilities in fast-growing markets and verticals.
• DP World aims to deliver supply chain solutions to cargo owners by leveraging its best-in-class infrastructure.
• Group is well-positioned to capitalise on the growing demand for customised solutions in the logistics industry.

Strong cash generation and lower net Leverage

• Cash generated from operating activities increased by 18.9% to $5.5 billion in 2024 ($4.6 billion in 2023).
• Leverage (Net debt to adjusted EBITDA) on a pre-IFRS16 basis decreased to 3.4x (FY2023: 3.7x). On a post-IFRS16 basis, net leverage stands at 4.1x (FY2023: 4.0x).

 Committed to long-term sustainability transition

• Issued a US$100 million blue bond, the first for a corporate from the Central and Eastern Europe, Middle East and Africa (CEEMEA) region, alongside the launch of our Ocean Strategy.
• DP World became the first logistics company in the region to have its targets validated by the Science Based Targets initiative, a significant step towards decarbonising supply chains for our customers.
• Against our 2022 base year, we exceeded our 10.5% Scope 1 and Scope 2 carbon emissions reduction target, and close to 65% of electricity sourced globally today comes from renewable energy.

 Strong 2024 performance, positioned for resilient growth despite uncertainty

• Strong financial performance in 2024, but the outlook remains uncertain due to geopolitical risks and changing global trade landscape.

• Despite global uncertainties, DP World is well-positioned for long-term growth, leveraging its integrated supply chain solutions and strategic investments to drive sustainable value creation.

DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem, commented: “We are proud to report record revenue of $20.0 billion and record EBITDA of $5.5 billion for 2024, a remarkable achievement given the complex geopolitical landscape. These results demonstrate the benefits of our strategic focus on high-margin cargo, end-to-end integrated supply chain solutions and disciplined cost optimisation.

This strategy is positioning DP World for sustained long-term growth and value creation. By enhancing efficiency, expanding our capabilities and deepening partnerships, we are building a resilient business, well-equipped to capitalise on new opportunities as global trade evolves.”