DP World said it had a profit of $749 million in 2012, 10 percent more than in 2011, and that revenue, at $3.1 billion, was up 5 percent.
EBITDA (earnings before interest, taxes, depreciation, and amortization) was $1.4 billion, up 8 percent.
The company said higher revenue was “driven by strong growth in the Middle East, Europe and Africa region representing our ability to improve revenue from both our container and non-container operations even with the tougher operating environment in some of our markets."
The terminal operator said it had EBITDA margin of 45.1 percent. "Our focus on improving customer service through improved efficiencies and productivity has led to higher utilization and EBITDA margin particularly in the Asia Pacific and Indian Subcontinent region and the Middle East, Europe and Africa region,“ DP World said.
Mohammed Sharaf, DP World Group's chief executive, said "Over the next two years, we will deliver a further 10 million TEUs of new capacity. The first of this will come on stream in the next few months at Jebel Ali (U.A.E.), with Embraport (Brazil) and London Gateway (U.K.) opening later this year. The fourth, the new terminal at Jebel Ali, is well underway and set to open next year. We are in no doubt that the delivery of this new capacity will be transformational for DP World over the medium term.
“Operating conditions in each of our markets in the first two months of 2013 have been consistent with those experienced at the end of last year and the economic environment continues to remain uncertain," he said. "We remain confident about the long term outlook of our industry. and remain well positioned to deal with a changing economic environment as well as continue to focus on our established high standards of service to our customers." - Chris Dupin