TIDMDPW
RNS Number : 5307K
DP World Limited
31 July 2013
DP WORLD HANDLED 26.6 MILLION TEU IN THE FIRST HALF OF 2013
SECOND QUARTER SAW AN IMPROVEMENT IN VOLUMES
Dubai, UAE Wednesday 31 July 2013 - DP World Limited handled
26.6 million TEU (twenty-foot equivalent units) across its global
portfolio in the first half of 2013. Whilst this was 5.8% lower
than the same period last year, when adjusted for changes across
the portfolio, the decline was 2.1% on a like for like basis[1].
However, our global portfolio handled more containers in the second
quarter than in the first quarter of 2013.
There were lower volumes in the Asia Pacific and Indian
Subcontinent region and the Europe, Middle East and Africa region.
This was mitigated by a stronger performance in the Americas and
Australia region which increased 2.7% on a like for like basis.
In the Asia Pacific and Indian Subcontinent region we continue
to focus on handling a smaller number of higher margin containers
to improve overall returns.
In the Europe, Middle East and Africa region, our European and
Middle East businesses continue to operate in a challenging macro
environment. Within this region, our UAE operations handled 6.5
million TEU in the first half, a relatively flat performance over
the same period last year. In line with our overall portfolio, the
UAE saw a stronger second quarter in 2013.
DP World's portfolio of consolidated terminals[2] handled 12.8
million TEU during the first half of 2013, a decline of 5.7% when
compared with the same period last year. On a like for like
basis[3], consolidated volumes declined 3.9%.
Chairman Sultan Ahmed Bin Sulayem commented:
"We remain confident about the long-term outlook of our industry
and continue to invest to meet the future capacity requirements of
our customers.
"The first half saw important progress in the delivery of three
major projects in 2013. In June we welcomed an additional 1 million
TEU capacity at our flagship Jebel Ali Terminal. This increased
capacity is alleviating current constraints and will support future
growth in the region. In the second half of this year, we will
deliver developments in Santos (Brazil) and London Gateway
(UK)."
Group Chief Executive Mohammed Sharaf commented:
"Despite a softer first half when compared with the same period
last year, we saw an encouraging uplift in containers handled
during the second quarter.
"This uplift, whilst positive, has occurred in challenging
market conditions which we anticipate will continue into the second
half. Accordingly, we remain focused on improving efficiencies,
containing costs and handling higher margin containers to drive
profitability.
"We maintain expectations of like for like container throughput
in line with 2012 with our portfolio positioned toward the faster
growing emerging markets and stable origin and destination
cargo."
END
Investor Enquiries
Jasmine Lindsay
Investor Relations
DP World Limited
+971 48080812 (UAE direct)
+971 504220405 (UAE mobile)
Further Information
1. During 2012 DP World divested / monetised 1 million TEU in
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 2013 DP World divested / monetised 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 Q1 2013 Q2 2013 H1 2013 H1 2012 H1 Growth
'000 TEU (Like for
like)
Asia Pacific &
India Subcontinent 6,074 6,386 12,460 13,283 -6.2%
(-2.0%)
-------- -------- -------- -------- -----------
Europe, Middle
East and Africa* 5,168 5,677 10,845 11,587 -6.4%
(-3.6%)
-------- -------- -------- -------- -----------
Americas & Australia 1,599 1,657 3,255 3,327 -2.2%
(2.7%)
-------- -------- -------- -------- -----------
Total Group 12,840 13,720 26,561 28,197 -5.8%
(-2.1%)
-------- -------- -------- -------- -----------
Consolidated Volumes Q1 2013 Q2 2013 H1 2013 H1 2012 H1 Growth
'000 TEU (Like for
like)
Asia Pacific &
India Subcontinent 1,280 1,189 2,469 2,823 -12.6%
(-9.8%)
-------- -------- -------- -------- -----------
Europe, Middle
East and Africa* 4,337 4,814 9,151 9,578 -4.5%
(-2.6%)
-------- -------- -------- -------- -----------
Americas & Australia 577 610 1,187 1,185 0.2%
(0.2%)
-------- -------- -------- -------- -----------
Total Group 6,193 6,614 12,807 13,586 -5.7%
(-3.9%)
-------- -------- -------- -------- -----------
*UAE Volumes included
in Middle East,
Africa and Europe
region 3,062 3,456 6,518 6,554 (-0.6%)
[1] Like for like gross container volume growth adjusts for the
divestment / monetisation of Tilbury (UK), Adelaide (Australia),
Aden (Yemen) and Vostochny (Russia) in 2012 and ACT (Hong Kong) in
2013.
[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. CT3 (Hong Kong) is deconsolidated from June 2013.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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