DP World has described its financial results for the first half as “resilient”, with the company’s chairman and CEO, Sultan Ahmed Bin Sulayem, saying that while the near-term trade outlook may be uncertain due to macroeconomic and geopolitical factors, the H1 financial performance positions DP World well to deliver a steady set of full-year results.
The global port operator increased its revenue by 13.9% to US$9 billion and adjusted EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortisation) by 7% to US$2.6 billion with an adjusted EBITDA margin of 28.9%.
Moreover, net cash generated from operating activities stood at US$1.95 billion for the first half of 2023, compared to US$1.93 million in the same period last year.
DP World said it remains positive on the medium to long-term outlook for global trade and is focused on delivering integrated supply chain solutions to cargo owners to drive sustainable returns.
Sultan Ahmed Bin Sulayem, commented, “Despite facing a softer container market and weakened freight rates amid challenging economic conditions, our focus on high-margin cargo, end-to-end bespoke supply chain solutions and cost optimisation has been crucial in securing these results.”
He went on to add, “We remain optimistic about the medium to long-term prospects of the industry and DP World’s capacity to consistently generate sustainable returns.”
