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2014 March 20   16:42

DP World profit grows 27% in 2013

Global marine terminal operator DP World today announces strong financial results from its global portfolio of marine terminals for the twelve months to 31 December 2013 , delivering profit attributable to owners of the company before separately disclosed items of $ 604 million, 2 6.6% ahead of last year on a like - for - like basis, the company said in its press release.

Excluding acquisitions, disposals and monetisations , new capacity and currency fluctuations, revenue growth was 3.6 %; adjusted EBITDA growth was 9.0 % , adjusted EBITDA margin rose to 47.6% and EPS was 2 6.6 % ahead of last y ear .

Revenue of $ 3,073 million Like - for - like revenue increased 3.6 % driven by a 4.6 % increase in container revenue per TEU (twenty - foot equivalent units) Like - for - like non - container revenue increased 1.7 %

Adjusted EBITDA of $ 1,414 million; adjusted EBITDA margin of 46.0%.

DP World reported separately disclosed items of $48 million, mostly relating to the $158 million profit on sale of businesses and $99 million impairment of assets. Like - for - like at constant currency is without the addition of new capacity at Embraport (Brazil) and London Gateway (UK) divested equity - accounted investees Tilbury (UK), Aden (Yemen), Adelaide (Australia), Vostochny (Russia), DMS (P&O Maritime) and ACT ( Hong Kong )

The restructure of Antwerp business (Belgium) which is now accounted for as an equity accounted investee the divestment of consolidated terminal CT3 (Hong Kong) change in shareholding in ATL ( Hong Kong ) from June 2013 Change in shareholding in Yantai ( Hong Kong ) from September 2013 and the impact of exchange rates as financial results are translated into US dollars for reporting purposes.

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