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