Dubai-based global logistics giant DP World has announced its financial results for the year ending December 31, 2024, posting a record-breaking revenue of $20.0 billion, marking a 9.7% year-on-year growth. The company’s adjusted EBITDA rose by 6.7% to $5.5 billion, with an EBITDA margin of 27.2%.
Key Financial Highlights
- Revenue Growth: Driven by strong performance in ports and terminals, along with contributions from new acquisitions and concessions, DP World’s revenue per TEU saw a 13.9% increase.
- Profitability: The company recorded a profit of $1.5 billion, reflecting a 2.0% decline due to increased finance costs.
- Strategic Investments: DP World’s capacity exceeded 100 million TEU through selective infrastructure investments in key markets. The company invested $2.2 billion in 2024 and has earmarked $2.5 billion for 2025, focusing on projects in the UAE, India, the UK, Senegal, and Saudi Arabia.
- Cash Flow & Leverage: Operating cash flow surged by 18.9% to $5.5 billion, while net leverage improved, decreasing to 3.4x on a pre-IFRS16 basis.
Sustainability & Long-Term Strategy
DP World strengthened its sustainability initiatives by issuing a $100 million blue bond and advancing its decarbonization goals. The company exceeded its 10.5% carbon emissions reduction target from its 2022 base year, with 65% of its electricity now sourced from renewables.
CEO’s Outlook
Sultan Ahmed bin Sulayem, DP World Group Chairman and CEO, stated:
“Our record performance in 2024 underscores the strength of our integrated supply chain solutions and disciplined cost optimization. Despite global uncertainties, DP World remains well-positioned for long-term growth through strategic investments and expansion into high-growth trade corridors.”
As the global trade landscape evolves, DP World continues to focus on revenue synergies, end-to-end logistics solutions, and sustainable investments to drive resilient growth in the years ahead.
News Source: Dubai Media Office
