DP World Limited DP World reports 7.5% increase in container volume (0073J)

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RNS Number : 0073J

DP World Limited

01 August 2012

DP World reports 7.5% increase in container volumes

in the first six months of 2012

Dubai, UAE Wednesday 1 August 2012 - DP World updates the market on volume throughput for the first half of 2012.

In the first six months of the year, DP World handled 28.2 million TEU (twenty foot equivalent units) across its global portfolio of over 60 terminals, 7.5% ahead of the same period last year. Like for like gross volume growth was 5.4%([i]) .

The Asia Pacific and Indian Subcontinent region was the main driver of this growth, reporting a 12.1% increase in volumes to 13.3 million TEU. This strong performance was driven by growth across our terminals in Asia Pacific as well as new capacity across the region as a whole.

The Americas and Australia region grew volumes by 6.1% to 3.3 million TEU as solid growth in the Americas mitigated a more challenging environment in Australia.

The Europe, Middle East and Africa region grew 3.2% to 11.6 million TEU. Weaker trade across Europe masked the stronger performance across the rest of the region including in Jebel Ali, UAE which handled 6.6 million TEU in the first six months of the year, 7.3% ahead of the same period last year.

Our portfolio of consolidated terminals([ii]) reported volumes of 13.6 million TEU in the first six months of the year. Underlying([iii]) volume growth would have been 5.5% when compared to the same period last year, had our five terminals in Australia not been deconsolidated from 12 March 2011.

Sultan Ahmed Bin Sulayem, Group Chairman of DP World commented:-

"DP World has continued to deliver a robust performance in the first six months of this year. This reflects the benefits of managing a superior global portfolio which is strategically diversified across emerging markets and focused on handling core import and export cargo."

Group Chief Executive Mohammed Sharaf commented:-

"The number of containers handled across our portfolio of global ports has increased again, with 28.2 million containers handled in the first six months of the year. With gross volume growth of 7.5%, DP World continues to deliver growth ahead of the industry.

"The global macroeconomic uncertainty seen in the first quarter of the year has continued, and if anything, has increased through the second quarter. Despite this more challenging environment, the majority of our global portfolio continues to show resilience and we remain committed to delivering an improved operational and financial performance over 2011."

Results for the half year to 30 June 2012 will be announced on Wednesday 29 August.

   -     END -

For further information

DP World Investor Relations

Fiona Piper +442079014142 (UK direct) or +447919175602 (cell)

Jasmine Lindsay +97148080812 (direct) or +971504220405 (cell)

Email: - investor.relations@dpworld.com

Volumes for H1 2012

 
                         Gross Volumes   2012 H1   2011 H1   Growth 
                              TEU '000 
--------------------------------------  --------  --------  ------- 
 Asia Pacific and Indian Subcontinent     13,283    11,849    12.1% 
--------------------------------------  --------  --------  ------- 
 Europe, Africa, Middle East*             11,587    11,233     3.2% 
--------------------------------------  --------  --------  ------- 
 Americas and Australia                    3,327     3,136     6.1% 
--------------------------------------  --------  --------  ------- 
 Total TEU                                28,197    26,219     7.5% 
--------------------------------------  --------  --------  ------- 
 
 
                  Consolidated Volumes   2012 H1   2011 H1               Growth 
                              TEU '000 
--------------------------------------  --------  --------  ------------------- 
 Asia Pacific and Indian Subcontinent      2,823     2,774                 1.8% 
--------------------------------------  --------  --------  ------------------- 
 Europe, Africa, Middle East*              9,578     9,042                 5.9% 
--------------------------------------  --------  --------  ------------------- 
                                                                        (28.4)% 
                                                              Underlying growth 
 Americas and Australia (1)                1,185     1,654                 9.8% 
--------------------------------------  --------  --------  ------------------- 
                                                                           0.9% 
                                                              Underlying growth 
 Total TEU (1)                            13,586    13,470                 5.5% 
--------------------------------------  --------  --------  ------------------- 
 
 
    *UAE volumes incorporated 
   in the Middle East volumes 
                     TEU '000   6,554   6,107   7.3% 
-----------------------------  ------  ------  -----

(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 9.8% and growth across the global portfolio would have been 5.5%.

[i]Like for like gross volume growth excludes the contribution from a new terminal in Qingdao (China) and Paramaribo (Suriname) neither of which were included in the prior period results.

[ii]Consolidated throughput is throughput from all terminals where we have control as defined under IFRS.

[iii]Underlying growth shows what growth rates would have been had the five terminals in Australia continued to be consolidated in DP World's accounts from 12 March 2011 and allows for a better comparison with the prior year.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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