Dubai, United Arab Emirates, - Tuesday, October 25th 2011 [ME NewsWire]
DP World’s global portfolio of container terminals has delivered another solid quarter handling gross volumes of 14.4 million TEU in the third quarter of 2011, 10% ahead of the third quarter last year.
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 Asia Pacific, UAE, Africa and Americas regions, as well as new volumes from recently acquired Suriname and additional capacity in Callao, Peru and Qingdao, China. Like for like gross volume growth was 9%[1].
Our portfolio of consolidated terminals[2]handled 20.5 million TEU in the first nine months of the year. Had our five terminals in Australia not been deconsolidated from 12 March 2011, the consolidated terminals would have delivered 9% growth ahead of the same nine month period in 2010. Like for like consolidated volume growth in the first nine months was 8%[3]. The growth in our consolidated portfolio was primarily from the UAE, Africa and Americas regions.
For the first nine months of the year, the UAE handled 9.5 million TEU or 11% ahead of 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 the year, 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 the faster growing emerging markets, resulting in another performance well ahead of the industry.
“The UAE region has continued to do well with the third quarter delivering excellent growth as Dubai continues to strengthen its position as a global trading hub for the fast growing economies of the Middle East, India and Africa”.
Mohammed Sharaf, Chief Executive of DP World said:“Whilst uncertainty continues to affect the global economy our business continues to perform well. Despite the tougher fourth quarter comparatives, we continue to believe that we will achieve full year EBITDA in line with expectations.”
-ENDS-
Regional Split - Q3 volumes and volumes for the first nine months of 2011
Gross Volumes
2011 Q3
(2011 year to date)
2010 Q3
(2010 year to date)
Asia Pacific and Indian Subcontinent
6.5 million
(18.3 million)
5.8 million
(16.3 million)
Europe, Africa, Middle East*
6.2 million
(17.4 million)
5.7 million
(16.2 million)
Americas and Australia
1.7 million
(4.8 million)
1.6 million
(4.2 million)
Consolidated Volumes
2011 Q3
(2011 year to date)
2010 Q3
(2010 year to date)
Asia Pacific and Indian Subcontinent
1.4 million
(4.1 million)
1.4 million
(4.1 million)
Europe, Africa, Middle East*
5.1 million
(14.1 million)
4.6 million
(13.0 million)
Americas and Australia (1)
0.6 million
(2.2 million)
1.3 million
(3.4 million)
*UAE volumes incorporated in the Middle East volumes
3.4 million
(9.5 million)
3.0 million
(8.6 million)
(1)Australia was de-consolidated on 11 March 2011 and therefore volumes since 12 March 2011 are no longer included in the consolidated figures; excluding the deconsolidation, growth in the Americas and Australia region would have been 11% and growth across the global portfolio would have been 8% for the third quarter.
About DP World
DP World operates more than 60 terminals across six continents(1), with container handling generating around 80% of its revenue. In addition, the company currently has 10 new developments and major expansions underway in 10 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 nearly 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 17 consecutive years.
In 2010, DP World handled nearly 50 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 95 million TEU by 2020, in line with market demand.
www.dpworld.com
(1) As of September 2011. Includes non-container terminals.
[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 are no 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 from 12 March 2011 and exclude the contribution of volumes from the new terminal in Callao, Peru which began operations in May 2010
Contacts
DP World Limited
Sarah Lockie / Natasha Bukhari
+971 4 8811110
Brunswick Group
Jon Coles/Chris Blundell,
+44 20 7404 5959
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