• 2020 March 12 17:41

    DP World announces 2019 full year results

    DP World announces robust financial results for the year ended 31 December 2019. On a reported basis, revenue grew 36.1% and adjusted EBITDA increased 17.7% with adjusted EBITDA margin of 43%, delivering profit attributable to owners of the Company, before separately disclosed items, of $1,328 million, up 4.6% and EPS of 160.0 US cents, the company said in its release.

    Results Highlights

    Ø Revenue of $7,686 million
     Revenue growth of 36.1% driven by acquisitions including P&O Ferries (UK), Topaz Energy & Marine (UAE) and the two terminals in Chile (Puerto Central and Puerto Lirquen) as well as the full year impact from Continental Warehousing Corporation (India), Cosmos Agencia Maritima (Peru) and Unifeeder (Denmark), and the consolidation of Australia region.
     Like-for-like revenue increased by 2.3% driven by 16.0% growth in non-container revenue.

    Ø Adjusted EBITDA of $3,306 million and adjusted EBITDA margin of 43.0%
     Adjusted EBITDA grew 17.7% and achieved an EBITDA margin for the full year of 43.0%.
     Like-for-like adjusted EBITDA margin was at 49.6.%.

    Ø Profit for the period attributable to owners of the Company of $1,328 million
     Strong adjusted EBITDA growth resulted in a 4.6% increase in profit attributable to owners of the Company before separately disclosed items on a reported basis and 5.4% growth on a like-for-like basis at constant currency.

    Ø Strong cash generation and robust balance sheet
     Cash from operating activities was $2,462 million.
     Free cash flow (post cash tax maintenance capital expenditure and pre-dividends) amounted to $2,058 million.
     Leverage (Adjusted Net Debt to adjusted EBITDA) at 3.9 times. Pre IFRS 16 leverage stands at 3.4 times.

    Ø Proposed Total dividend per share of 40 US cents
     Proposed ordinary dividend of 40 US cents which is broadly in line with historic pay-out ratio.

    Ø Bond Transaction Executed at Record Levels
     Raised $2.3bn through issuance of long-term bonds at record low rates to remove refinancing risk.
     Further strengthens balance sheet and offers financial flexibility.

    Ø Continued Investment Across the Portfolio
     Ports & Terminals investments include two new terminals in Chile (Puerto Central and Puerto Lirquen) and consolidation of terminals in Australia.
     Logistics investment includes acquisition of Pan-European logistics platform of P&O Ferries and Marine logistics operator, Topaz Marine & Energy.
     Capital expenditure of $1,146 million invested across the existing portfolio.
     In 2019, gross global capacity was at 91.8 million TEU. Consolidated capacity was at 54.2 million TEU.
     Capital expenditure guidance for 2020 is up to $1.4 billion with investments planned in UAE, Prince Rupert (Canada), London Gateway (United Kingdom), Jeddah (Saudi Arabia), Callao (Peru), Sokhna (Egypt) and Berbera (Somaliland).
     Posorja, the only deep-water port in Ecuador with capacity of 750k TEU opened on time and on budget.
     30-year concession renewal at Jeddah Islamic Port, largest port and hub that connects East-West cargo in the Kingdom of Saudi Arabia.

     




2021 September 22

11:31 Russia’s Inland Water Transport Development Concept aimed at raising IWW cargo traffic by 65%
11:08 Pier T Terminal in the Port of Long Beach begins pilot program for 24-hour cargo pickup
10:40 Vadim Shpityak appointed as General Manager of Moby Dik and Yanino Logistic Park
10:15 Tollerort to become preferred hub for COSCO services
09:57 More than 300 ships to be built by 2032 under subsidized leasing programmes
09:40 Crude oil prices increase on reduction of reserves
09:39 MABUX: No firm price trend on global bunker market on Sep 22
09:22 Baltic Dry Index as of September 21
09:13 Havyard Leirvik hands over the third and last of the ‘triplet ships’ for ESVAGT
08:35 KiwiRail gets world-first green loan certification for new ferries

2021 September 21

19:01 Grimaldi to launch the Civitavecchia-Arbatax-Cagliari service
18:05 RTCOMM and Konnect Russia agree to join hands in development of satellite communication services for sea and river ships
18:02 “K” LINE to procure 8 next-generation of environmentally friendly car carriers
18:01 Diana Shipping announces time charter contract for m/v Maera with ASL
17:54 ABS publishes guide to ammonia-fueled vessels
17:47 RTCOMM and Iridium join hands to develop mobile communication services to improve clients security in Russia’s hard-to-reach areas
17:37 AD Ports Group and the General Company for Ports of Iraq sign MoU to promote cooperation and investments
16:58 RTCOMM and KNS partner to expand ocean satellite communications services
15:36 Hydrographic survey vessel Gorizont returns from the Arctic expedition
15:11 MOL Group Adopts Car Carrier Operation Digital Transformation Promotion Project 'Mathematical Optimization': Part II
14:59 Wärtsilä signs five-year Optimised Maintenance agreement featuring latest digital innovations with STQ of Canada
14:07 New ESPO Green Guide 2021 outlines a vision for ports towards a green future
12:34 International Maritime Exhibition and Conference NEVA 2021 opens in St. Petersburg
12:12 AtoB@C Shipping orders six highly efficient 5,350 dwt hybrid vessels
11:52 Damen Shipyards Group set to develop its localization in Russia
11:31 Port Houston sets new record for containers in August 2021
11:05 ASD Tug 3010 Ice Arc4 series to be laid down for Atomflot in September 2021
10:58 Stena Line and Frederikshavn sign agreement for two fossil fuel free ferries by 2030
09:51 Average spot market price for Russian M100 product rose to RUB 25,185 pmt as of September 17
09:37 MABUX: Global bunker market turned into downward trend on Sep 21
09:33 Crude oil prices increase in expectation of Covid related restrictions to be eased
09:19 Baltic Dry Index as of September 20

2021 September 20

18:27 Strategic Marine announces new 42m Gen 4 Fast Crew Boat
18:07 FSG to build RoRo vessel with LNG propulsion for Australian company SeaRoad
17:45 Sovcomflot Board reviews Group’s results for H1 2021
17:26 Shell to build one of Europe’s biggest biofuels facilities at the Shell Energy and Chemicals Park Rotterdam
17:16 Maiden call of EMA service at Vado Ligure connecting Eastern Med with US East coast
17:00 Rosmorrechflot estimates Russia’s demand for technical ships in 2025-2030 at over 800 units
16:39 New DNV Naval Technical Assurance concept offers tailored solutions for naval verification
16:11 Vyborg Shipyard delivers second trawler of KMT01 design
15:25 IAPH launches Cybersecurity Guidelines for Ports and Port Facilities
14:39 FESCO acquires 300 new refrigerated containers of increased capacity
14:02 Boluda Towage celebrates naming ceremony for tug quartet
13:22 ABS study suggests dual-fuel newbuilds have the decarbonization advantage over conversion
12:53 International conference “Inland waterways: strategic potential for growth” kicked off in Saint-Petersburg
12:05 NAVTOR boosts development muscle with new base in Poland
11:58 Port of Oakland import volume edged up in August 2021
10:51 New study reveals vessels using Jotun HPS reported 20% lower carbon intensity in operations
10:12 4th International Conference “Development of Icebreaking and Support Fleet“ kicked off in Saint-Petersburg
09:41 Crude oil prices decrease as oil production resumes in the Gulf of Mexico
09:35 San Pedro Bay Ports announce new measures to speed cargo throughput
09:27 MABUX: Global bunker market is in a stable state on Sep 20
09:13 Baltic Dry Index as of September 17

2021 September 19

15:23 Austal names Rusty Murdaugh as Austal USA President
14:17 Parkwind selects Port of Mukran to become the O&M base for Arcadis Ost 1 wind farm
13:04 Babcock sells first new frigate design licence to Indonesia
11:37 USC repatriates 22 migrants to Cuba
10:56 South Louisiana ports advocate for federal aid post Hurricane Ida

2021 September 18

15:07 Energy-saving investments clear the way for shore-based power
13:49 GROUPE IDEC is developing the first XXL energy - positive activity park in Europe