DP World Limited DP WORLD VOLUMES CONTINUE TO GROW IN 2013 (3247Z)
05 Febbraio 2014 - 8:00AM
UK Regulatory
TIDMDPW
RNS Number : 3247Z
DP World Limited
05 February 2014
DP WORLD CONTAINER VOLUMES CONTINUE TO GROW IN 2013
STRONGER SECOND HALF PERFORMANCE ACROSS ALL REGIONS
Dubai, UAE Wednesday 5 February 2014 - DP World Limited handled
55 million TEU (twenty-foot equivalent units) across its global
portfolio of container terminals during 2013, with gross container
volumes growing by 0.7% on a like-for-like([1]) basis. The second
half of the year delivered a stronger performance with volumes
growing 3.6% on the prior period on a like-for-like basis. On a
reported basis gross volumes declined 1.9% mainly due to the
monetisation of one of our Hong Kong assets.
Encouragingly, all three reporting regions([2]) displayed a
stronger performance in the second half of 2013. This was driven
largely by an improved performance from our Asia Pacific, Australia
and UAE terminals, while Europe continues to show signs of
stability.
The UAE delivered another record year handling 13.6 million TEU,
representing growth of 2.7%.
At a consolidated([3]) level, our terminals handled 26 million
TEU during 2013, a marginally lower like-for-like([4])
performance.
Chairman Sultan Ahmed Bin Sulayem commented:
"We are pleased to deliver gross like-for-like throughput growth
in 2013, despite the challenging macroeconomic backdrop.
"We are encouraged by the volumes handled at our flagship Jebel
Ali port, with our UAE operation recording the best year in its
history. This reflects the continued growth of Dubai, the UAE and
the wider region. The 1 million TEU expansion of Jebel Ali's
Terminal 2 contributed to that record result, and this year, we
will add 4 million TEU new capacity at Terminal 3 to ensure we are
well placed to handle future capacity demand in Dubai.
"Our London Gateway facility and our facility in Brazil,
Embraport, both opened for business in the second half of 2013 and
we look forward to their contribution during 2014 and beyond"
Group Chief Executive Mohammed Sharaf commented:
"Our full year throughput performance is pleasing, particularly
given the softer market conditions we experienced in the first half
of 2013. This illustrates the resilient nature of our portfolio
which remains well positioned to capture medium to longer-term
growth through its continued focus on faster growing markets and
origin and destination (O&D) cargo. The quarterly trend of
improvement continued into the fourth quarter of 2013 and, while
the macro economic outlook in some regions remains uncertain, we
have made an encouraging start to the current year.
"Economic headwinds combined with limited spare capacity across
our portfolio constrained our ability to grow volumes further in
2013. However, the addition of new capacity in 2014 combined with a
projected pick-up in global trade should allow us to return to a
more normalised growth rate.
"As always, we remain focused on driving profitability by
targeting higher margin throughput while containing costs and
improving efficiencies. We remain confident of meeting full year
market expectations."
Investor Enquiries
Redwan Ahmed Jasmine Lindsay
DP World Limited DP World Limited
Mobile: +971505541557 Mobile:+971504220405
Direct:+97148080842 Direct: +97148080812
redwan.ahmed@dpworld.com jasmine.lindsay@dpworld.com
Further Information
-- During 2012 DP World divested / monetised approximately 1.9
million TEU capacity in the Europe, Middle East and Africa region
and 0.3 million TEU in the Americas and Australia Region which
impacts our reported throughput numbers shown below. We have
therefore shown like for like numbers to remove the impact of these
divestments.
-- During 2013 DP World divested / monetised approximately 1.6
million TEU capacity from the Asia Pacific and Indian Subcontinent
region which impacts our reported throughput numbers shown below.
We have therefore shown like for like numbers to remove the impact
of these divestments.
Gross Volumes FY 13 FY 12 %
'000 TEU (Like for
like)
----------------------- ------- ------- -----------
Asia Pacific
& India Subcontinent 25,576 26,193 -2.4%
(+1.7%)
----------------------- ------- ------- -----------
Europe, Middle
East and Africa* 22,469 23,026 -2.4%
(-0.2%)
----------------------- ------- ------- -----------
Americas &
Australia 6,944 6,857 +1.3%
(+0.4%)
----------------------- ------- ------- -----------
Total Group 54,990 56,076 -1.9%
(+0.7%)
----------------------- ------- ------- -----------
*UAE Volumes
included in
Europe, Middle
East and Africa 13,641 13,280 +2.7%
------------------ ------- ------- ------
Consolidated FY 13 FY 12 %
'000 TEU (Like for
like)
----------------------- ------- ------- -----------
Asia Pacific
& India Subcontinent 4,604 5,401 -14.8%
(-3.9%)
----------------------- ------- ------- -----------
Europe, Middle
East and Africa* 18,993 19,202 -1.1%
(+0.4%)
----------------------- ------- ------- -----------
Americas &
Australia 2,480 2,494 -0.6%
(-0.6%)
----------------------- ------- ------- -----------
Total Group 26,077 27,097 -3.8%
(-0.5%)
----------------------- ------- ------- -----------
[1] Like for like gross container volume growth adjusts for the
divestment / monetisation of Tilbury (UK), Adelaide (Australia),
Aden (Yemen), Vostochny (Russia) and ACT (Hong Kong) and for
Embraport (Brazil) and London Gateway (UK).
[2] DP World's reporting regions are: Asia Pacific & Indian
Subcontinent, Europe Middle East & Africa, Americas &
Australia.
[3] Consolidated terminals are those where we have control as
defined under IFRS.
[4] Like for like consolidated volume growth adjusts for the
restructure of our Antwerp business. From 1 January 2013 all
volumes in Antwerp are now accounted for within the joint venture
portfolio. CT3 (Hong Kong) is deconsolidated from June 2013. Also
adjusts for volumes at London Gateway (UK).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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