DP World Limited DP World handles 14.2 million TEU in third quarter (8191P)
October 30 2012 - 11:17AM
UK Regulatory
TIDMDPW
RNS Number : 8191P
DP World Limited
30 October 2012
DP World handles 14.2 million TEU in third quarter of 2012
4.5% volume growth for the nine months to 30 September 2012
Dubai, UAE Tuesday 30 October 2012 - DP World Limited handled
14.2 million TEU (twenty-foot equivalent units) across its
portfolio of container terminals in the third quarter of 2012. This
was 1% lower than the same period last year reflecting the
divestment of three joint venture terminals and a decline in
volumes in the Europe, Middle East and Africa region. Like for like
gross container volume growth in the third quarter was 0.5%([1])
.
Gross container volumes have continued to grow 4.5% in the first
nine months of the year driven by strong growth across the
Americas, Asia Pacific, Middle East and UAE region.
The UAE region continued to increase the number of containers
handled with 3.4 million TEU handled in the third quarter. This
takes its volumes in the first nine months of the year to 4.6%
ahead of the same period last year.
Our portfolio of consolidated terminals reported a 0.7% decline
in volumes in the third quarter as the Asia Pacific and Indian
Subcontinent region and the Europe, Middle East and Africa region
reported a small decline in volumes. For the nine months to 30
September, container volumes across our consolidated portfolio
would have increased 3.4% ahead of the same period last year had
our terminals in Australia not been deconsolidated from 12 March
2011.
Chairman Sultan Ahmed Bin Sulayem commented:
"During the third quarter of the year we have taken advantage of
opportunities to reposition our portfolio towards higher return
businesses where we have management involvement. These recent
divestments allow us to recycle cash into projects already within
our pipeline, such as Jebel Ali (UAE) and London Gateway (UK) and,
over time, to invest in new opportunities in line with our
strategy, while maintaining balance sheet strength and
flexibility."
Group Chief Executive Mohammed Sharaf commented:
"The third quarter of the year has seen a slowdown in container
volume growth with some of our regions reporting a small decline in
volumes reflecting the challenging macroeconomic environment.
Despite this, our volume growth for the first nine months of the
year reflects good growth over the prior period and whilst there
remains uncertainty within the macro economy, we continue to
believe we will achieve EBITDA in line with expectations."
- END -
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Gross Volumes 2012 Q3 V 2011 Q3 1 January to 30 September
2012 v 1 January to
30 September 2011
------------------------- ------------------------------- ------------------------------
2012 Q3 2011 Q3 % YTD 2012 YTD 2011 %
------------------------- ---------- ----------- ------ ---------- ----------- -----
Asia Pacific & India
Subcontinent 6,590 6,458 2.0% 19,873 18,308 8.6%
------------------------- ---------- ----------- ------ ---------- ----------- -----
Europe, Middle East
and Africa* 5,876 6,208 -5.4% 17,463 17,441 0.1%
------------------------- ---------- ----------- ------ ---------- ----------- -----
Americas & Australia(1) 1,758 1,708 3.0% 5,085 4,844 5.0%
------------------------- ---------- ----------- ------ ---------- ----------- -----
Total Group(1) 14,224 14,374 -1.0% 42,422 40,593 4.5%
------------------------- ---------- ----------- ------ ---------- ----------- -----
Consolidated Volumes 2012 Q3 V 2011 Q3 1 January to 30 September
2012 v 1 January to
30 September 2011
---------------------- ---------------------------------- --------------------------------
2012 Q3 2011 Q3 % YTD 2012 YTD 2011 %
---------------------- ------------ ------------ ------ --------- ------------ -------
Asia Pacific & India
Subcontinent 1,359 1,367 -0.5% 4,183 4,140 1.0%
---------------------- ------------ ------------ ------ --------- ------------ -------
Europe, Middle East
and Africa* 4,924 5,054 -2.6% 14,502 14,096 2.9%
---------------------- ------------ ------------ ------ --------- ------------ -------
Americas & Australia
(1) 654 563 16.3% 1,839 2,217 -17.0%
---------------------- ------------ ------------ ------ --------- ------------ -------
Total Group(1) 6,937 6,983 -0.7% 20,523 20,453 0.3%
---------------------- ------------ ------------ ------ --------- ------------ -------
*UAE Volumes included
in Middle East,
Africa and Europe
region 3,428 3,437 - 0.3% 9,982 9,544 4.6%
----------------------- --------- -------- ------- ------- ------ -----
(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 this, for the first nine months of
the year, growth in the Americas and Australia region would have
been 11.4% with volume growth of 3.4% across the global
portfolio.
[1] Like for like gross volume growth normalizes for new volume
in Qingdao (China) and Paramaribo (Suriname) and for divested
volume in Tilbury (UK), Adelaide (Australia) and Aden
(Yemen).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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