DP World reports 3.2% volume growth in 2016 and 6.0% volume growth in 4Q 2016

Press release

Published February 7th, 2017 - 06:32 GMT

DP World

DP World Limited handled 63.7 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the full year of 2016, with gross container volumes growing by 3.2% year-on-year on a reported basis, and 2.2% on a like-for-like basis, which compares favourably to the industry estimated growth of 1.3% for 2016.

In the fourth quarter, gross reported volumes grew by 6.0% year-on-year driven by strong growth in Asia Pacific and Europe. UAE handled 3.7 million TEU in 4Q2016 down marginally by 0.7% year-on-year. The Americas and Australia region delivered a broadly stable volume performance during this period.

At a consolidated level, our terminals handled 29.2 million TEU during 2016, a 0.4% improvement in performance on a reported basis and down 1.6% year-on-year on a like-for-like basis.

Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem commented: “Despite the challenging market conditions, particularly at our flagship Jebel Ali Port, our portfolio continues to deliver ahead-of-market growth, which once again demonstrates the benefits of operating a globally diversified portfolio.

“We are pleased to see volumes stabilising in the UAE and as we look ahead into 2017, we expect our new developments in Rotterdam (Netherlands), Nhava Sheva (India), London Gateway (United Kingdom) and Yarimca (Turkey) to drive growth in our portfolio.

“We will continue to maintain capital expenditure discipline by bringing on capacity in line with demand, while focusing on targeting higher margin cargo, improving efficiencies and managing costs to drive profitability. Given the resilient volume performance of our portfolio, we are well placed to meet full year 2016 market expectations.”

Further Information

Gross Volume ‘000 TEU	Q4 2016	Q4 2015	Q4 Growth (like for like)	12M 2016	12M 2015	12M Growth (like for like)
Asia Pacific & India Subcontinent	7,528	6,848	+9.9% (+9.9%)	29,587	28,285	+4.6% (+4.6%)
Europe, Middle East and Africa*	6,563	6,338	+3.6% (+3.1%)	26,338	25,985	+1.4% (+0.9%)
Americas & Australia	2,051	2,038	+0.7% (+0.7%)	7,734	7,430	+4.1% (-2.4%)
Total Group	16,142	15,223	+6.0% (+5.8%)	63,658	61,701	+3.2% (+2.2%)

*UAE Volumes included in Middle East, Africa and Europe region

3,705

3,731

-0.7%

(-0.7%)

14,772

15,592

-5.3%

(-5.3%)

Consolidated ‘000 TEU	Q4 2016	Q4 2015	Q4 Growth (like for like)	12M 2016	12M 2015	12M Growth (like for like)
Asia Pacific & India Subcontinent	1,228	1,242	-1.2% (-1.2%)	4,957	4,870	+1.8% (+1.8%)
Europe, Middle East and Africa*	5,307	5,227	+1.5% (+1.0%)	21,279	21,556	-1.3% (-1.9%)
Americas & Australia	765	768	-0.4% (-0.4%)	3,003	2,684	+11.9% (-6.0%)
Total Group	7,300	7,237	+0.9% (+0.5%)	29,240	29,110	+0.4% (-1.6%)

Background Information

DP World

We began life as a local port operator with our first project, the development of Dubai’s Port Rashid, in 1972. Seven years later we opened Jebel Ali Port, the busiest port outside of Asia and a facility that has propelled us on our journey to becoming a leading enabler of global trade.