DP World Limited DP WORLD HANDLED 12.8M TEU IN FIRST QUARTE (2085D)
April 25 2013 - 3:18AM
UK Regulatory
TIDMDPW
RNS Number : 2085D
DP World Limited
25 April 2013
DP WORLD HANDLED 12.8 MILLION TEU IN THE FIRST QUARTER OF
2013
Dubai, UAE Thursday 25 April 2013 - DP World Limited will today
hold its Annual General Meeting for the year ended 31 December
2012. DP World Chairman Sultan Ahmed Bin Sulayem will make the
following statement regarding operational performance in the first
quarter of 2013.
"As we indicated at the time of our preliminary results,
operating conditions in the first quarter of 2013 have remained
challenging and have been broadly similar to those experienced in
the fourth quarter of last year.
"DP World handled 12.8 million TEU (twenty-foot equivalent
units) across its global portfolio in the first quarter of 2013.
Whilst this was 7.0% lower than the same period last year, when
adjusted for the divestments and monetisation across our portfolio,
the decline was 3.5% on a like for like basis[1].
"This decline in gross container volume was as a result of lower
volumes in the Asia Pacific and Indian Subcontinent region and the
Europe, Middle East and Africa region. In the Asia Pacific and
Indian Subcontinent region we continue to focus on handling a
smaller number of higher margin containers. In the Europe, Middle
East and Africa region, our European and Middle East businesses in
particular continue to operate in a challenging macro environment.
Within this region, our UAE facilities handled 3.1 million TEU.
These volume declines were mitigated by a better performance from
our terminals in the Americas and Australia region.
"DP World's portfolio of consolidated[2] terminals handled 6.2
million TEU during the first quarter of 2013, a decline of 6.4%
when compared with the same period last year. On a like for like
basis, consolidated volumes declined 5.1%.[3]
"Despite a continuation of subdued markets at the start of 2013
and notwithstanding the challenging macroeconomic conditions, we
still expect like for like container throughput in line with 2012
with our portfolio focused on the faster growing emerging markets
and more stable origin and destination cargo.
"We are confident about the long- term outlook of our industry
and our growth prospects. With this in mind, we remain focused on
developing the significant new capacity which is due to be
operational later this year."
AGM voting results will be available via Nasdaq Dubai, the
London Stock Exchange and at www.dpworld.com following the AGM.
- END -
Investor Inquiries
Fiona Piper Jasmine Lindsay
Investor Relations Investor Relations
DP World Limited DP World Limited
+971 561778731 (UAE mobile) +971 48080812 (UAE direct)
+44 7919175602 (UK mobile) +971 504220405 (UAE mobile)
Further Information
1. During 2012 DP World divested 1 million TEU from the Europe,
Middle East and Africa region and 0.3 million TEU in the Americas
and Australia Region which impacts our reported throughput numbers
shown below. We have therefore shown like for like numbers to
remove the impact of these divestments.
2. During Q1 2013 DP World divested 1.6 million TEU from the
Asia Pacific and Indian Subcontinent region which impacts our
reported throughput numbers shown below. We have therefore shown
like for like numbers to remove the impact of these
divestments.
Gross Volumes 2013 Q1 2012 Q1 Growth
'000 TEU (Like for like)
----------------------------------- -------- -------- -----------------
Asia Pacific & India Subcontinent 6,069 6,479 -6.3%
(-2.5%)
----------------------------------- -------- -------- -----------------
Europe, Middle East and
Africa* 5,168 5,657 -8.7%
(-5.9%)
----------------------------------- -------- -------- -----------------
Americas & Australia 1,599 1,658 -3.6%
(0.9%)
----------------------------------- -------- -------- -----------------
Total Group 12,835 13,794 -7.0%
(-3.5%)
----------------------------------- -------- -------- -----------------
Consolidated Volumes 2013 Q1 2012 Q1 Growth
'000 TEU (Like for like)
----------------------------------- -------- -------- -----------------
Asia Pacific & India Subcontinent 1,280 1,389 -7.9%
(-7.9%)
----------------------------------- -------- -------- -----------------
Europe, Middle East and
Africa* 4,337 4,650 -6.7%
(-4.9%)
----------------------------------- -------- -------- -----------------
Americas & Australia 577 577 -0.1%
(-0.1%)
----------------------------------- -------- -------- -----------------
Total Group 6,193 6,616 -6.4%
(-5.1%)
----------------------------------- -------- -------- -----------------
*UAE Volumes included in
Middle East, Africa and
Europe region 3,062 3,222 -5.0%
-------------------------- ------ ------ ------
[1] Like for like gross container volume growth adjusts for the
divestments of Tilbury (UK), Adelaide (Australia), Aden (Yemen) and
Vostochny (Russia) in 2012 and ACT (Hong Kong) in 2013. The
transaction in relation to CT3 and ATL is expected to close in May
2013 and no adjustments have been made.
[2] Consolidated terminals are those where we have control as
defined under IFRS.
[3] Like for like consolidated volume growth adjusts for the
restructure of our Antwerp business. From 1 January 2013 all
volumes in Antwerp are now accounted for within the joint venture
portfolio.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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