DP World Handles 14.4 Million TEU In The Third Quarter Reflecting 10% Growth
25 October 2011
Gross volumes for the first nine months of the year were 40.6 million TEU or 11%ahead of the prior year. This performance was driven by strong growth in the AsiaPacific, UAE, Africa and Americas regions, as well as new volumes from recentlyacquired Suriname and additional capacity in Callao, Peru and Qingdao, China. Likefor like gross volume growth was 9%1.
Our portfolio of consolidated terminals2 handled 20.5 million TEU in the first ninemonths of the year. Had our five terminals in Australia not been deconsolidatedfrom 12 March 2011, the consolidated terminals would have delivered 9% growthahead of the same nine month period in 2010. Like for like consolidated volumegrowth in the first nine months was 8%3. The growth in our consolidated portfolio wasprimarily from the UAE, Africa and Americas regions.
For the first nine months of the year, the UAE handled 9.5 million TEU or 11% aheadof the same period last year.
Sultan Ahmed Bin Sulayem, Chairman of DP World, commented:“DP World has delivered another very strong performance in the third quarter of theyear, resulting in over 40.6 million containers handled so far this year. This 11%growth in volumes when compared to last year continues to reflect our focus on thefaster growing emerging markets, resulting in another performance well ahead of theindustry.“
The UAE region has continued to do well with the third quarter delivering excellentgrowth as Dubai continues to strengthen its position as a global trading hub for thefast growing economies of the Middle East, India and Africa.
Mohammed Sharaf, Chief Executive of DP World said: “Whilst uncertaintycontinues to affect the global economy our business continues to perform well.
1 Like for like gross volumes exclude the contribution of volumes from new terminals in Callao, Peru and Qingdao,China which became operational in 2010
2 Following the completion of the Australian transaction on the 11 March 2011, those 5 Australian terminals areno longer accounted for within the consolidated portfolio, but are accounted for as joint ventures.
3 Like for like consolidated volumes take into account the de-consolidation of the five terminals in Australia from12 March 2011 and exclude the contribution of volumes from the new terminal in Callao, Peru which beganoperations in May 2010
Despite the tougher fourth quarter comparatives, we continue to believe that we willachieve full year EBITDA in line with expectations.”
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(1) As of September 2011. Includes non-container terminals
DP World Limited, press release