DP World announces strong financial results for 2017
Global trade enabler DP World today announces strong financial results for the twelve months ending 31 December 2017, the company said in its press release. On a reported basis, revenue grew 13.2 % and adjusted EBITDA increased 9.1 % with adjusted EBITDA margin of 52.4%, delivering profit attributable to owners of the company, before separately disclosed items 1, of $ 1, 209 million, up 7.3 %, and EPS of 145.6 US cents. On a like - for - like basis, revenue grew 6.0 %, adjusted EBITDA increased by 8.0% with adjusted EBITDA margin of 53.2 %, and earnings attributable to owners of the company increased 15.1 %.
In 2017, gross global capacity was at 88 million TEU and is expect ed to grow to over 100 million TEU of gross capacity by 2020, subject to market demand. Consolidated capacity was at 50 million TEU up from 42 million TEU in 2016 including the consolidation of Pusan (South Korea).
DP World has partnered with the Government of India sponsored, National Investment and Infrastructure Fund (NIIF), to create an investment platform of up to $ 3 billion of equity to acquire assets and develop projects in the ports, transportation and logistics sector in India. The partnership will also look at opportunities beyond sea ports such as river ports and transportation, freight corridors, special economic zones, inland container terminals, and logistics infrastructure including cold storage.
DP World acquired an additional 66.67% stake in Embraport in the Port of Santos (Brazil) from Odebrecht Transport (OTP) to take its shareholding to 100%. The terminal has an annual capacity of 1.2 million TEU and has been rebranded to DP World Santos.
