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Wednesday, 27 July 2016

DP World reports 2.5% gross volume growth in h1 2016

Dubai/ UAE, Tuesday 26 July 2016: – DP World Limited handled 31.4 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during the first half of 2016, with gross container volumes growing by 2.5% on a reported basis, and up 1.2% on a like-for-like basis.

Growth in the first half of 2016 was largely driven by a strong performance from our European and Indian subcontinent terminals. Conditions in Australia and Latin America remain challenging while the UAE handled 7.4 million TEU, down 6.0% year-on-year due to a reduction in lower-margin cargo.

At a consolidated level, our terminals handled 14.6 million TEU during the first half of 2016, a 1.6% improvement in performance on a reported basis and down 1.4% year-on-year on a like-for-like basis.

Group Chairman and Chief Executive Sultan Ahmed Bin Sulayem commented: "Despite challenging market conditions in the first half of the year, our portfolio continues to deliver growth.

"We expect the second half of 2016 to show an improved performance as our new developments in Rotterdam (Netherlands), Nhava Sheva (India), London Gateway (United Kingdom) and Yarimca (Turkey) deliver an increasing contribution.

"We continue to focus on driving profitability by targeting higher margin cargo, improving efficiencies and managing costs. We are encouraged by the progress we have made in the first half of 2016, and we remain confident in meeting full year market expectations."

Further Information

Gross Volumes '000 TEU 1Q 2016 2Q 2106 H1 2016 H1 2015 % H1 Growth
(like for like)
Asia Pacific & India Subcontinent 7,211 7,387 14,598 14,182 +2.9%
(+2.9%)
Europe, Middle East and Africa* 6,403 6,671 13,074 12,997 +0.6%
(+0.1%)
Americas & Australia 1,903 1,839 3,742 3,456 +8.3%
(-2.4%)
Total Group 15,516 15,898 31,414 30,635 +2.5%
(+1.2%)

 

*UAE Volumes included in Europe,
Middle East and Africa
3,649 3,755 7,404 7,881 -6.0%
(-6.0%)

 

Consolidated Volumes '000 TEU 1Q 2016 2Q 2106 H1 2016 H1 2015 % H1 Growth
(like for like)
Asia Pacific & India Subcontinent 1,257 1,274  2,531 2,374 +6.6%
(+6.6%)
Europe, Middle East and Africa* 5,246 5,361  10,607 10,777 -1.6%
(-2.1%)
Americas & Australia 718 746  1,464 1,226 +19.4%
(-10.5%)
Total Group 7,222 7,381  14,603 14,378 +2.5%
(+1.2%)


Press release Tuesday 26 July 2016

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