HANDLES 14.4 MILLION TEU IN THIRD QUARTER (7720Q)

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RNS Number : 7720Q

DP World Limited

25 October 2011

DP WORLD HANDLES 14.4 MILLION TEU IN THE THIRD QUARTER REFLECTING 10% GROWTH

Dubai, UAE Tuesday 25 October 2011 - 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.

Mohammed Sharaf, Chief Executive 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.

"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-

___________________ (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

Notes

1. A conference call for analysts and investors will be hosted by CEO Mohammed Sharaf and CFO Yuvraj Narayan on Tuesday 25 October at 12 noon (UAE) / 9am (London) and the dial-in and playback of the call will be available upon request to investor.relations@dpworld.com

For further information

Fiona Piper

DP World Investor Relations

UK Mobile: +44 7919 175602

Direct Line: +44 207 9014142

Fiona.piper@dpworld.com

Regional Split - Q3 volumes and volumes for the first nine months of 2011

 
 Gross Volumes                          2011 Q3                2010 Q3 
                                         (2011 year to date)    (2010 year to 
                                                                 date) 
-------------------------------------  ---------------------  ---------------- 
 Asia Pacific and Indian Subcontinent   6.5 million            5.8 million 
                                         (18.3 million)         (16.3 million) 
-------------------------------------  ---------------------  ---------------- 
 Europe, Africa, Middle East*           6.2 million            5.7 million 
                                         (17.4 million)         (16.2 million) 
-------------------------------------  ---------------------  ---------------- 
 Americas and Australia                 1.7 million            1.6 million 
                                         (4.8 million)          (4.2 million) 
-------------------------------------  ---------------------  ---------------- 
 
 
 Consolidated Volumes                   2011 Q3                2010 Q3 
                                         (2011 year to date)    (2010 year to 
                                                                 date) 
-------------------------------------  ---------------------  ---------------- 
 Asia Pacific and Indian Subcontinent   1.4 million            1.4 million 
                                         (4.1 million)          (4.1 million) 
-------------------------------------  ---------------------  ---------------- 
 Europe, Africa, Middle East*           5.1 million            4.6 million 
                                         (14.1 million)         (13.0 million) 
-------------------------------------  ---------------------  ---------------- 
 Americas and Australia (1)             0.6 million            1.3 million 
                                         (2.2 million)          (3.4 million) 
-------------------------------------  ---------------------  ---------------- 
 
 
 *UAE volumes incorporated     3.4 million      3.0 million 
  in the Middle East volumes    (9.5 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

This information is provided by RNS

The company news service from the London Stock Exchange

END

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