DP World Limited DPW REPORTS 9.0% LIKE-FOR-LIKE VOLUME GROWTH (4236V)
28 Ottobre 2014 - 8:00AM
UK Regulatory
TIDMDPW
RNS Number : 4236V
DP World Limited
28 October 2014
DP WORLD REPORTS 9.0% LIKE-FOR-LIKE VOLUME GROWTH IN FIRST
NINE MONTHS OF 2014
Dubai, UAE Tuesday 28 October 2014 - DP World Limited handled
44.8 million TEU (twenty-foot equivalent units) across its global
portfolio of container terminals during the first nine months of
2014, with gross container volumes growing by 9.0% on a
like-for-like[1] basis. On a reported basis gross container volumes
grew by 10.1% with new volume at London Gateway (UK) and Embraport
(Brazil) contributing to the increase.
Growth for the nine month period was largely driven by the Asia
Pacific and India Subcontinent region, Europe and UAE terminals.
The UAE delivered another strong performance handling 11.4 million
TEU, representing growth of 12.6% year-on-year. We remain
encouraged by the performance in Europe, which continues to display
strong volume growth.
At a consolidated[2] level, our terminals handled 21.0 million
TEU during the first nine months of 2014, a 9.9% improvement in
like-for-like[3]performance. On a reported level, the growth rate
of 8.6% in consolidated volumes reflects the deconsolidation of
Hong Kong assets in June last year.
Chairman Sultan Ahmed Bin Sulayem commented:
"Volume growth for the first nine months of 2014 has been
impressive, and we remain encouraged by the third quarter
performance which has grown 8.4% year-on-year on a like-for-like
basis. It is evident that the significant investment of recent
years is aiding in the delivery of stronger volume growth.
"Our flagship Jebel Ali port achieved yet another new record,
with 4.0 million TEU handled in the third quarter. The port is
operating at almost maximum utilisation and we are therefore
pleased to announce that Terminal 3 is now operational, adding 2
million TEU capacity to Jebel Ali port. A further 2 million is
expected to come on line in the second half of 2015, taking total
Jebel Ali capacity to 19 million TEU. This is part of our
commitment to invest to meet future capacity demands in Dubai.
"The solid nine-month performance leaves us well placed to
outperform the market, which is forecast to grow at approximately
5% in 2014.
"As always, we continue to focus on driving profitability by
targeting higher margin throughput while containing costs and
improving efficiencies. Overall performance remains in line with
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
Like-for-like growth numbers have been prepared to normalize for
divestments and new capacity across the global portfolio.
-- In March 2013 1.6 million TEU capacity was deconsolidated
from the Asia Pacific and Indian Subcontinent region.
-- New capacity includes London Gateway (UK), Embraport (Brazil)
and small test volumes at Rotterdam (Netherlands).
Gross Volumes Q3 2014 Q3 2013 9mths 9mths 9mth Growth
'000 TEU 2014 2013 (Like
for like)
----------------------- -------- -------- ------- ------- ------------
Asia Pacific
& India Subcontinent 7,108 6,488 20,908 18,949 +10.3%
(+10.3%)
----------------------- -------- -------- ------- ------- ------------
Europe, Middle
East and Africa* 6,527 5,874 18,664 16,719 +11.6%
(10.6%)
----------------------- -------- -------- ------- ------- ------------
Americas &
Australia 1,805 1,809 5,266 5,064 +4.0%
(-1.2%)
----------------------- -------- -------- ------- ------- ------------
Total Group 15,440 14,171 44,837 40,732 +10.1%
(+9.0%)
----------------------- -------- -------- ------- ------- ------------
Consolidated Q3 2014 Q3 2013 9mths 9mths 9mth Growth
Volumes 2014 2013 (Like
'000 TEU for like)
----------------------- -------- -------- ------- ------- ------------
Asia Pacific
& India Subcontinent 1,229 1,059 3,640 3,528 +3.2%
(+16.3%)
----------------------- -------- -------- ------- ------- ------------
Europe, Middle
East and Africa* 5,453 4,991 15,701 14,143 +11.0%
(+9.8%)
----------------------- -------- -------- ------- ------- ------------
Americas &
Australia 622 661 1,853 1,848 +0.3%
(+0.3%)
----------------------- -------- -------- ------- ------- ------------
Total Group 7,304 6,711 21,193 19,519 +8.6%
(+9.9%)
----------------------- -------- -------- ------- ------- ------------
*UAE Volumes
included in
Middle East,
Africa and
Europe region 3,972 3,614 11,407 10,131 +12.6%
---------------- ------ ------ ------- ------- -------
[1] Like for like gross container volume growth adjusts for new
capacity at Embraport (Brazil) and London Gateway (UK) and small
test volumes at Rotterdam (Netherlands)
[2] Consolidated terminals are those where we have control as
defined under IFRS
[3] Like for like consolidated volume growth adjusts for the
monetisation of CT3 (Hong Kong) and new capacity at London Gateway
(UK)
This information is provided by RNS
The company news service from the London Stock Exchange
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