DP World has posted stronger second half results for 2010 as volume and revenue growth continued to improve on the first half of the year. This, coupled with continuing of cost management and improved terminal efficiencies, resulted in a return to EBITDA margins above 40 percent and profit before tax in excess of US$500 million.
A full year revenue of US$3,078 million and EBITDA of US$1,240 million were both well ahead of 2009.
"2010 saw a return to volume growth across almost all our terminals, albeit with different growth rates across regions," commented DP World Chairman Sultan Ahmed Bin Sulayem. "We saw both rapid recovery in global trade in those markets most affected by the decline in container volumes in 2009, and a return to more modest growth in those markets which showed resilience during 2009. Almost all of our container terminals around the world are back at or ahead of volumes last seen in 2008, which was a peak year for the global container terminal industry.
"The group has continued to invest in its portfolio during the last two years of global crisis and is seeing the benefit of this investment in these results."
