DP WORLD LIMITED
TRADING UPDATE FOR FIRST HALF 2008
Dubai, 21 July 2008: - Global marine terminal operator DP World today announced that
those terminals which are consolidated1 for accounting purposes reported a throughput
of 13.6m TEU for the first half of 2008, an increase of 21% over the same period last
year.
This increase in volumes was driven by excellent performance from our terminals in the
Australia, India and Middle East regions, the latter two regions benefiting from cargo
formerly destined for the US being redirected into markets in India, Middle East and
Africa.
The two Dubai ports of Jebel Ali and Port Rashid combined grew 17% to reach 5.8m
TEU for the first half of 2008. The roll out of our new capacity at Jebel Ali has ensured
we are able to keep ahead of the demand from our customers, who are enjoying the
improved efficiencies our new capacity provides.
Mohammed Sharaf, Chief Executive DP World said:
“Our consolidated terminals have made a very pleasing start to the year with 21%
volume growth driven by our focus on the faster growing emerging markets along the
Asia-Europe trade routes and our success in rolling out capacity in those markets which
are capacity constrained and where our customers are focused.
“These strong volumes across all regions are expected to deliver good first half financial
results well ahead of the same period last year. We expect to report revenue growth
ahead of volume growth and stable to improving EBITDA margins for the first half of
2008.
“Whilst we recognise that the business has performed well in the first half of 2008,
benefiting from our global portfolio and our exposure to the faster growing emerging
markets on the Asia-Europe trade route, looking ahead, despite global financial and
economic uncertainties, we believe we will continue to outperform the market for 2008
and expect to deliver full year results in line with expectations.”
DP World will announce its 2008 half year financial results on Thursday 28 August.
About DP World
DP World is one of the largest marine terminal operators in the world, with 45 terminals and 13 new
developments across 29 countries2. Its dedicated, experienced and professional team of nearly
30,000 people serves customers in some of the most dynamic economies in the world.
DP World aims to enhance customers’ supply chain efficiency by effectively managing container,
bulk and other terminal cargo.
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 14 consecutive years.
In 2007, DP World handled more than 43.3 million TEU (twenty-foot equivalent container units)
across its portfolio from the Americas to Asia – an increase of 18% on 2006. It has global capacity
of more than 54 million TEU, which is set to increase significantly in coming years with a committed
pipeline of expansion and development projects in key growth markets, including India, China and
the Middle East. Capacity will rise to around 90 million TEU by 2017.
DP World
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2 As at 1 July 2008