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DP World Ltd revenues grew 9.7% year-on-year to $20 billion in 2024
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Earnings before interest, taxes, depreciation, and amortization rose 6.7% to $5.5 billion
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The revenue growth was mainly due to improved performance from ports and terminals, along with contributions from new acquisitions and concessions
DP World Ltd revenues grew 9.7% to $20 billion in 2024 year-on-year, the company said in a statement.
Earnings before interest, taxes, depreciation, and amortization rose 6.7% to $5.5 billion.
The revenue growth was mainly due to improved performance from ports and terminals, along with contributions from new acquisitions and concessions, DP World stated in its latest report.
Profit for the year was pegged at $1.5 billion, which was a 2.0% drop mostly due to higher finance costs.
Ports and terminal revenue per TEU rose 13.9% on like-for-like basis for strong growth from the Middle East and the Americas.
The company’s capacity surpassed 100 million TEU due to selective infrastructure investment in key growth markets.
Capital expenditure of $2.2 billion last year was invested across the existing portfolio, while capex budget for this year is about $2.5 billion. This will mostly be invested in Jebel Ali Drydocks World and Jebel Ali Freezone in the United Arab Emirates, Tuna Tekra in India, London Gateway in the UK, Ndayane in Senegal, and Jeddah, Saudi Arabia.
Sultan Ahmed bin Sulayem, DP World Group chairman and CEO, said last year’s performance was “a remarkable achievement given the complex geopolitical landscape.”
The results, he added, “demonstrate the benefits of our strategic focus on high-margin cargo, end-to-end integrated supply chain solutions, and disciplined cost optimization.”
The strategy positions DP World for sustained long-term growth and value creation, said Sultan Ahmed bin Sulayem, who added that “by enhancing efficiency, expanding our capabilities, and deepening partnerships, we are building a resilient business, well-equipped to capitalize on new opportunities as global trade evolves.”
Among its notable activities last year, DP World issued a $100 million blue bond, considered as the first for a corporation from the Central and Eastern Europe, Middle East, and Africa region. This took place alongside the company’s Ocean Strategy. DP World became the first logistics company in the region to have its targets validated by the Science Based Targets initiative, considered “a significant step towards decarbonizing supply chains” for its customers.
Using 2022 as the base year, DP World exceeded 10.5% Scope 1 and Scope 2 carbon emissions reduction target, and almost 65% of electricity sourced worldwide comes from renewable energy.
On the negative side, the company admitted that the outlook for this year “remains uncertain due to geopolitical risks and changing global trade landscape.”
While 2025 started on a positive note, the DP World CEO said global trade remains in flux due to the ongoing geopolitical challenges.
“As part of our long-term strategy, we continue to invest in our portfolio through targeted bolt-on acquisitions, expand into new locations, and add high-value capabilities that align with our clients’ evolving needs,” said Sultan Ahmed bin Sulayem, adding, “We maintain a positive medium-term outlook, supported by strong industry fundamentals and DP World’s ability to deliver sustainable, long-term returns.
