DP World reports record $20 bln revenue in 2024

DP World has announced revenue grew by 9.7 per cent to $20 billion (AED 73.5 billion), and adjusted EBITDA rose by 6.7 per cent to $5.5 billion (AED 20.2 billion), with an adjusted EBITDA margin of 27.2 per cent for the year ending December 31, 2024.

Revenue growth of 9.7 per cent was mainly due to improved performance from Ports and terminals and contributions from new acquisitions and concessions.

Ports and terminals revenue per TEU increased 13.9 per cent on a like-for-like basis, with strong growth from the Middle East and the Americas.

DP World capacity exceeded 100 million TEU due to selective infrastructure investment in key growth markets.

Capital expenditure of $2.2 billion (AED 8 billion) ($2.1 billion (AED 7.7 billion) in 2023) was invested across the existing portfolio.

The capital expenditure budget for 2025 is approximately $2.5 billion (AED 9.1 billion) to be invested mainly in Jebel Ali, Drydocks World and Jebel Ali Freezone, Tuna Tekra (India), London Gateway (UK), Ndayane (Senegal) and Jeddah (Saudi Arabia).

Cash generated from operating activities increased by 18.9 per cent to $5.5 billion (AED 20.2 billion) in 2024 ($4.6 billion (AED 17 billion) in 2023).