Global marine terminal operator DP World today announced another record year for container handling, with over 54.7 million TEU (twenty-foot equivalent container units) handled across its global portfolio in 2011, an increase of 10% against the prior year. Like for like[1]volume growth was equally strong at 9% when compared with last year.
Our portfolio of consolidated terminals[2]handled 27.5 million TEU during 2011. Had our five terminals in Australia not been deconsolidated from 12 March 2011, the consolidated terminals would have delivered 9% growth ahead of the prior year. Like for like[3]growth across our portfolio of consolidated terminals was 8%.
The growth across our portfolio was driven by an exceptionally strong performance in the UAE region which delivered volume growth of 12% handling 13.0 million TEU for the year. The UAE region has gone from strength to strength during 2011 with each quarter delivering yet another record performance culminating in 16% volume growth in the final quarter of 2011.
Alongside this excellent performance in the UAE region, we saw strong results from Asia Pacific, Africa and the Americas region together with the addition of new capacity from our terminals in Karachi, Pakistan and Vallarpadam, India both of which opened in early 2011.
Chairman, Sultan Ahmed Bin Sulayem commented:
“DP World delivered another strong performance in the final quarter of the year despite the macro economic uncertainty. These results are a reflection of our continued focus on those regions which are seeing strong trade growth in addition to the continued focus by all our terminals on providing customers with a first class service when they call at DP World terminals.
“Our flagship terminal in the UAE has yet again exceeded all expectations delivering another record year as it continues to position itself as the gateway port of choice to handle cargo destined for the Middle East, India and Africa regions.
“Whilst uncertainty continues to affect the global economy, our business is still performing well. We made good progress through the fourth quarter of 2011 and we will achieve 2011 full year EBITDA in line with expectations. Lower than expected net financing charges will benefit reported profit before tax.”
Chief Executive Officer, Mohammed Sharaf said:
“Whilst this uncertainty remains as we enter 2012, we continue to concentrate on delivering an improved operational and financial performance over 2011 reflecting our focus on both faster growing emerging markets and delivering an enhanced offering to our customers.
“As we look ahead, we continue to remain confident about the long term outlook for our industry. We believe our continued investment in existing and new terminals around the world will ensure our portfolio is best positioned to meet the expectations of our customers and their future requirements.”
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For further information
Natasha Bukhari
Global Corporate Communications Manager
DP World
Tel: +97156 6821699
Natasha.Bukhari@dpworld.com
Jon Coles/ Chris Blundell
Brunswick, London, UK
Tel: + 44 (0) 20 7404 5959
jcoles@BrunswickGroup.com
cblundell@BrunswickGroup.com
Volumes for the fourth quarter and full year 2011
Gross Volumes
2011 Full Year
(2011 Q4 )
2010 Full Year
(2010 Q4 )
AsiaPacific and Indian Subcontinent
24.7 million
(6.4 million)
22.0 million
(5.7 million)
Europe, Africa, Middle East*
23.5 million
(6.1 million)
21.7 million
(5.5 million)
Americasand Australia
6.6 million
(1.7 million)
5.8 million
(1.7 million)
Total TEU
54.7 million
(14.1 million)
49.6 million
(12.9 million)
Consolidated Volumes
2011 Full Year
(2011 Q4 )
2010 Full Year
(2010 Q4 )
AsiaPacific and Indian Subcontinent
5.6 million
(1.4 million)
5.5 million
(1.4 million)
Europe, Africa, Middle East*
19.1million
(5.0 million)
17.5 million
(4.5 million)
Americasand Australia (1)
2.8 million
(0.6 million)
4.8 million
(1.4 million)
Total TEU (1)
27.5 million
(7.0 million)
27.8 million
(7.3 million)
*UAE volumes incorporated in the Middle East volumes
13.0 million
(3.5 million)
11.6 million
(3.0 million)
(1) Australiawas de-consolidated on 11 March 2011 and therefore volumes since 12 March 2011 are no longer included in the consolidated figures; excluding the deconsolidation, growth in the Americas and Australia region would have been 17% and growth across the global portfolio would have been 9%.
About DP World
DP World operates more than 60 terminals across six continents(1), with container handling generating around 80% of its revenue. In addition, the company currently has 11 new developments and major expansions underway in 10 countries.
DP World aims to enhance customers’ supply chain efficiency by effectively managing container, bulk and other terminal cargo. Its dedicated, experienced and professional team of nearly 30,000 people serves customers in some of the most dynamic economies in the world.
The company constantly invests in terminal infrastructure, facilities and people, working closely with customers and business partners to provide quality services today and tomorrow, when and where customers need them.
In taking this customer-centric approach, DP World is building on the established relationships and superior level of service demonstrated at its flagship Jebel Ali facility in Dubai, which has been voted “Best Seaport in the Middle East” for 17 consecutive years.
In 2011, DP World handled nearly 55 million TEU (twenty-foot equivalent container units) across its portfolio from the Americas to Asia. With a pipeline of expansion and development projects in key growth markets, including India, China and the Middle East, capacity is expected to rise to around 100 million TEU by 2020, in line with market demand.
www.dpworld.com
(1) As of January 2012. Includes non-container terminals
[1]Like for like gross volumes exclude the contribution of volumes from new or expanded terminals in Callao, Peru which became operational in 2010, Qingdao, China which expanded significantly in July 2011 and Suriname which joined the portfolio in August 2011
[2]The consolidated terminals are all those terminals where we have control as defined under IFRS. Following the completion of the Australian transaction on 11 March 2011, those five Australian terminals are no longer accounted for within the consolidated portfolio, but are accounted for as joint ventures
[3]Like for like consolidated volumes take into account the deconsolidation of the five terminals in Australia from 12 March 2011 and exclude the contribution of volumes from the new terminal in Callao, Peru which began operations in May 2010 and Suriname which joined the portfolio in August 2011.
Contacts
Natasha Bukhari
Global Corporate Communications Manager
DP World
Tel: +97156 6821699
Natasha.Bukhari@dpworld.com
Hasaad Communications:
Sanaa Maadad
Director, Media
Hasaad Communications
Tel: +97150 5522610
sana@hasaad.ae
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