DP World has announced robust financial results for the six months to June 30, 2018. On a reported basis, revenue grew 14.4 per cent and adjusted EBITDA increased by 7.9 per cent. Adjusted EBITDA margin was 50.3 per cent, delivering profit attributable to owners of the company, before separately disclosed items, of $593 million and EPS of 71.5 US cents. On a like-for-like basis, revenue grew 3 per cent and adjusted EBITDA increased by 4.2 per cent with adjusted EBITDA margin of 54.4 per cent, and attributable earnings to owners of the company increased by 5.2 per cent, reflecting the stable trading environment, said a release.
The first half of 2018 continues to see an upswing in global trade with all three of DP World’s regions delivering growth. However, geopolitical headwinds and recent changes to trade policies continue to pose uncertainty for the container market.
It continues to focus on delivering operational excellence and maintaining its disciplined approach to investment to ensure it remains the port operator of choice, as well as strengthening its product offering to play a wider role in the global supply chain as a trade enabler, the release added.
Said DP World Group Chairman and CEO, Mr Sultan Ahmed Bin Sulayem, “The near-term trade outlook remains uncertain with recent changes in trade policies and geopolitical headwinds in some regions continuing to pose uncertainty to the container market. However, the robust financial performance of the first six months also leaves us well placed for 2018 and we expect to see increased contributions from our recent investments in the second half of the year.”