DP WORLD PLC 
By Dubai, UAE Tuesday 29 January 2013 - DP World handled 56.1 million TEU (twenty- foot equivalent units) across its global portfolio in 2012, a 2.4% increase over the prior year. Adjusting for the divestment of four joint venture terminals during the year, like for like gross container volume growth was 3.7% ahead of last year1.
This annual increase in gross container volumes was driven by a good performance from the Americas, Asia Pacific and Middle East regions where the focus on delivering improved efficiencies and productivity attracted more containers into our ports.
The UAE region continued to operate at very high levels of capacity utilization, increasing the number of containers handed to 13.3 million TEU for the year.
DP World's portfolio of consolidated 2 terminals handled 27.1 million TEU during
2012. Had the five terminals in Australia not been deconsolidated from 12 March 2011, the consolidated terminals would have delivered 0.9% growth ahead of the prior year. Like for like growth across the consolidated portfolio was 0.7%.
Chairman Sultan Ahmed Bin Sulayem commented:"During the year, the deteriorating macroeconomic environment and high levels of capacity utilization, led us to change our short term strategy to focus more on high quality revenue generating business, and giving our customers the quality of service they are accustomed to with DP World."
Group Chief Executive Mohammed Sharaf commented:"After a strong start to the year we had a challenging second half. Our tight focus on cost management and higher quality revenue mean we still expect to achieve EBITDA in line with expectations for 20123. Lower net financing charges will benefit reported profit before tax.
"2013 is an exciting year for us with planned new capacity on track to open in Santos
(Brazil), Jebel Ali (UAE) and London Gateway (UK). Whilst there remains much
1 Like for like gross container volume growth adjusts for the divestment of Tilbury (UK), Adelaide (Australia), Aden (Yemen) and Vostochny (Russia) which were all divested during 2012 and for Paramaribo (Suriname) which joined the portfolio in August 2011.
2 Consolidated throughput is throughput from all terminals where we have control as defined under IFRS.
3 Bloomberg consensus EBITDA including share of profit from equity-accounted investees is $1,313mn.
uncertainty in the macro economy we believe we are well positioned to make further progress in 2013."
DP World expects to announce Preliminary Results on Wednesday 20 March.
- END - Media Inquiries
Michael VertigansDP World
Ph: +9714 8080916
Mobile: + 97156 6769324 michael.vertigans@dpworld.com
Further Information
Gross Volumes '000 TEU | 2012 Full Year V 2011 Full Year | ||
2012 | 2011 | % | |
Asia Pacific & India Subcontinent | 26,193 | 24,661 | 6.2% |
Europe, Middle East and Africa* | 23,026 | 23,502 | -2.0% |
Americas & Australia(A) | 6,857 | 5,574 | 4.3% |
Total Group(A) | 56,076 | 54,737 | 2.4% |
Consolidated Volumes '000 TEU | 2012 Full Year V 2011 Full Year | |||
2012 | 2011 | % | ||
Asia Pacific & India Subcontinent | 5,401 | 5,578 | -3.2% | |
Europe, Middle East and Africa* | 19,202 | 19,110 | 0.5% | |
Americas & Australia (A) | 2,494 | 2,782 | -10.4% | |
Total Group(A) | 27,097 | 27,471 | -1.4% |
*UAE Volumes included in Middle East, Africa and Europe region | 13,280 | 13,031 | 1.9% |
A) Australia was de-consolidated on 11 March 2011 and therefore volumes since 12 March 2011 are no longer included in the consolidated figures. Excluding this, growth in the Americas and Australia region would have been 12.3% with volume growth of 0.9% across the global portfolio.
About DP World
DP World operates over 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 9 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 more than
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 18 consecutive years.
In 2012, DP World handled over 56 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
103 million TEU by 2020, in line with market demand.
www.dpworld.com
(1) As of 29 January 2013. Includes non-container terminals.
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