• 2016 March 17 09:43

    DP World announces financial results for 2015

    Global trade enabler DP World today  announces strong financial results from its global portfolio for the twelve months ended 31 December 2015. Revenue grew 16.3% and adjusted EBITDA increased 21.4%, delivering  profit attributable to owners of DP World, before separately disclosed items, of $883 million, up 30.7%, and EPS of 106.3 US cents. 

    Results Highlights

    Revenue of $3,968 million 

    Revenue growth of 16.3% supported by acquisition of  Economic Zone s World (EZW)

    Like - for - like revenue increased by 5.6% driven by a 4.9% increase in containerised  revenue

    Volume growth of 2.7% ahead of industry growth estimated at 1.1%

    Containerised revenue per TEU (twenty - foot equivalent unit) grew 3.2% on a like - for - like basis 

    Non - container revenue increased 8.2% on a like - for - like basis and up by 64.6% on a  reported basis due to acquisitions

    Adjusted EBITDA of $1,928 million; record  adjusted EBITDA margin of 48.6% 

    Adjusted EBITDA margin reached a record high of 48.6% due  to  improved contribution  from higher margin locations and EZW acquisition 

    Profit for the period attributable to owners of the Company of $883 million

    Strong  adjusted EBITDA growth resulted in a 30.7% increase in profit attributable to  owners of DP World before separately disclosed items

    Cash from operating activities amounted to $1,9 28 million up from $1,486 million in  2014. Cash conversion remained high at  100 % of adjusted EBITDA

    Free cash flow (post cash tax maintenance capital expenditure and pre dividends)  amounted to $1,5 95 million against $1,228 million in 2014

    Leverage (Net Debt  to adjusted EBITDA) increased to 3.2 times due to acquisitions and  higher capex 

    Total dividend per share increase d by 28% to 30 US cents 

    Ordinary dividend increased by 28% to 30 US cents to reflect growth in 2015 earnings




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