DP World increases container volume 2.4pc to 56 million TEU in 2012
DP World has posted a 2.4 per cent container volume increase in 2012 year on year to 56.1 million TEU across its global portfolio, according to a company statement.
Adjusting for the divestment of four joint venture terminals during the year, like-for-like gross container volume growth was 3.7 per cent ahead of last year.
This annual increase in gross container volumes was driven by a good performance from the Americas, Asia Pacific and Middle East regions where the focus on delivering improved efficiencies and productivity attracted more containers into our ports.
The UAE region continued to operate at very high levels of capacity utilisation, increasing the number of containers handed to 13.3 million TEU for the year.
DP World's portfolio of consolidated terminals handled 27.1 million TEU during 2012. Had the five terminals in Australia not been deconsolidated from March 12, 2011, the consolidated terminals would have delivered 0.9 per cent growth ahead of the prior year. Like for like growth across the consolidated portfolio was 0.7 per cent.
"During the year, the deteriorating macroeconomic environment and high levels of capacity utilisation, led us to change our short term strategy to focus more on high quality revenue generating business, and giving our customers the quality of service they are accustomed to with DP World," said company chairman Ahmed Bin Sulayem.
Said group CEO Mohammed Sharaf: "After a strong start to the year we had a challenging second half. Our tight focus on cost management and higher quality revenue mean we still expect to achieve EBITDA in line with expectations for 2012. Lower net financing charges will benefit reported profit before tax.
"2013 is an exciting year for us with planned new capacity on track to open in Santos, Jebel Ali and London Gateway. While there remains much uncertainty in the macro economy we believe we are well positioned to make further progress in 2013," he said, adding that DP World expects to announce preliminary results on Wednesday March 20.
DP World has posted a 2.4 per cent container volume increase in 2012 year on year to 56.1 million TEU across its global portfolio, according to a company statement.
Adjusting for the divestment of four joint venture terminals during the year, like-for-like gross container volume growth was 3.7 per cent ahead of last year.
This annual increase in gross container volumes was driven by a good performance from the Americas, Asia Pacific and Middle East regions where the focus on delivering improved efficiencies and productivity attracted more containers into our ports.
The UAE region continued to operate at very high levels of capacity utilisation, increasing the number of containers handed to 13.3 million TEU for the year.
DP World's portfolio of consolidated terminals handled 27.1 million TEU during 2012. Had the five terminals in Australia not been deconsolidated from March 12, 2011, the consolidated terminals would have delivered 0.9 per cent growth ahead of the prior year. Like for like growth across the consolidated portfolio was 0.7 per cent.
"During the year, the deteriorating macroeconomic environment and high levels of capacity utilisation, led us to change our short term strategy to focus more on high quality revenue generating business, and giving our customers the quality of service they are accustomed to with DP World," said company chairman Ahmed Bin Sulayem.
Said group CEO Mohammed Sharaf: "After a strong start to the year we had a challenging second half. Our tight focus on cost management and higher quality revenue mean we still expect to achieve EBITDA in line with expectations for 2012. Lower net financing charges will benefit reported profit before tax.
"2013 is an exciting year for us with planned new capacity on track to open in Santos, Jebel Ali and London Gateway. While there remains much uncertainty in the macro economy we believe we are well positioned to make further progress in 2013," he said, adding that DP World expects to announce preliminary results on Wednesday March 20.