DP World’s revenue jumped by 19.8% in 2018 as it weathered trade war threats and other geopolitical uncertainty, according to its annual financial results.The terminal operator said it generated US$5.6 billion in revenue in 2018 and $1.27 billion in profit – an increase of 5.1%.
According to DP World, the company’s Earnings before Interest Taxes Depreciation and Amortization (EBITDA) rapidly increased by 13.7%.
[smlsubform prepend=”GET THE SAFETY4SEA IN YOUR INBOX!” showname=false emailtxt=”” emailholder=”Enter your email address” showsubmit=true submittxt=”Submit” jsthanks=false thankyou=”Thank you for subscribing to our mailing list”]
DP World highlighted that its success was driven largely by its investment in leaders in the ports and logistics industries, such as Unifeeder, Drydocks World, Dubai Maritime City (DMC) and Continental Warehousing Corporation (CWC), all of which are performing in line with expectation.
Moreover, the terminal operator discussed its expectations on revenue and volume growth to be continued in 2019.
Yet, it warned that the on-going US-China trade war makes the outlook of global trade uncertain.
DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayam commented on the company’s financial results
We have made good progress in delivering on our strategy of strengthening our portfolio to become a global solution provider and trade enabler with approximately $2.5 billion worth of acquisitions announced in the year.
In addition, he continued that these acquisitions will provide strong development opportunities and will improve DP World’s status in the global supply chain.
This will be achieved as the terminal operator aspires to diversify their revenue base and find additional opportunities to connect with the owners of cargo and aggregators of demand.
