DP World Limited DP WORLD VOLUMES GROW 2.4% IN THIRD QUARTER (6069R)
October 29 2013 - 3:00AM
UK Regulatory
TIDMDPW
RNS Number : 6069R
DP World Limited
29 October 2013
DP WORLD CONTAINER VOLUMES GROW 2.4% IN THIRD QUARTER
UAE REGION DELIVERS A RECORD QUARTER
Dubai, UAE Tuesday 29 October 2013 - DP World Limited handled
14.2 million TEU (twenty-foot equivalent units) across its global
portfolio of container terminals in the third quarter of 2013, with
gross container volumes growing by 2.4% on a like-for-like([1])
basis. This was driven largely by an improved performance from our
Asia Pacific and UAE terminals. On a reported basis gross volumes
were flat with a 0.4% decline in the third quarter, reflecting
monetisations and divestments made in previous periods.
The UAE delivered a record quarter with 3.6 million TEU handled
during the period, representing growth of 5.4%. Volumes for the
nine months to September 2013 exceeded 10 million TEU for the first
time.
Our portfolio of consolidated([2]) terminals handled 6.7 million
TEU in the third quarter, delivering like-for-like([3]) volume
growth of 2.0%, driven mainly by the record UAE performance.
Encouragingly, volumes through our consolidated terminals in the
Asia Pacific & Indian Subcontinent region are showing signs of
stability.
During the third quarter, our Embraport facility in Brazil began
test operations, efficiently serving vessels as it prepares to
become fully operational in the fourth quarter this year.
Chairman Sultan Ahmed Bin Sulayem commented:
"We are very pleased to announce a robust throughput performance
for the third quarter of 2013. In particular, our flagship UAE
operation has recorded the best quarter in its history, reflecting
the continued growth in Dubai, the UAE and the wider region. The
addition of 1 million TEU capacity in June this year and the 4
million TEU of capacity due to come on line in 2014 ensure that we
are well placed to cater for future growth.
"Looking to other developments underway, we continue to make
good progress toward the delivery of Embraport (Brazil), which is
now serving vessels as it readies for official opening. London
Gateway (UK) remains on track to open in the fourth quarter with
its first official vessel call scheduled in November."
Group Chief Executive Mohammed Sharaf commented:
"After a challenging first half in 2013 we are encouraged by the
positive uplift witnessed in the third quarter. Accordingly, market
guidance remains unchanged as our target remains gross
like-for-like volumes in line with 2012.
"With market conditions still uncertain, we continue to focus on
driving profitability by targeting higher margin throughput and
improving efficiencies. We remain confident of meeting full year
market expectations."
Investor Enquiries
Redwan Ahmed Jasmine Lindsay
DP World Limited DP World Limited
Mobile: +971505541557 Mobile:+971504220405
Direct:+97148080842 Direct: +97148080812
redwan.ahmed@dpworld.com jasmine.lindsay@dpworld.com
Further Information
-- During 2012 DP World divested / monetised approximately 1.9
million TEU capacity 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.
-- During 2013 DP World divested / monetized approximately 1.6
million TEU capacity 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 Q3 2013 Q3 2012 % YTD 2013 YTD 2012 %
'000 TEU (Like for (Like for
Like) like)
---------------------- -------- -------- ----------- --------- --------- -----------
Asia Pacific &
India Subcontinent 6,488 6,590 -1.5% 18,949 19,873 -4.7%
(+3.3%) (-0.3%)
---------------------- -------- -------- ----------- --------- --------- -----------
Europe, Middle
East and Africa* 5,874 5,876 0.0% 16,719 17,463 -4.3%
(+2.6%) (-1.5%)
---------------------- -------- -------- ----------- --------- --------- -----------
Americas & Australia 1,809 1,758 2.9% 5,064 5,085 -0.4%
(-1.8%) (+1.1%)
---------------------- -------- -------- ----------- --------- --------- -----------
Total Group 14,171 14,224 -0.4% 40,732 42,422 -4.0%
(+2.4%) (-0.6%)
---------------------- -------- -------- ----------- --------- --------- -----------
Consolidated Volumes Q3 2013 Q3 2012 % YTD 2013 YTD 2012 %
'000 TEU (Like for (Like for
like) like)
---------------------- -------- -------- ----------- --------- --------- -----------
Asia Pacific &
India Subcontinent 1,059 1,359 -22.1% 3,528 4,182 -15.7%
(-2.5%) (-7.7%)
---------------------- -------- -------- ----------- --------- --------- -----------
Europe, Middle
East and Africa* 4,991 4,924 1.4% 14,143 14,501 -2.5%
(+3.1%) (-0.7%)
---------------------- -------- -------- ----------- --------- --------- -----------
Americas & Australia 661 654 1.1% 1,848 1,839 0.5%
(+1.1%) (+0.5%)
---------------------- -------- -------- ----------- --------- --------- -----------
Total Group 6,711 6,937 -3.3% 19,519 20,523 -4.9%
(+2.0%) (-1.9%)
---------------------- -------- -------- ----------- --------- --------- -----------
*UAE Volumes included
in Middle East,
Africa and Europe
region 3,614 3,428 5.4% 10,131 9,982 1.5%
----------------------- ------ ------ ----- ------- ------ -----
[1] Like for like gross container volume growth adjusts for the
divestment / monetisation of Tilbury (UK), Adelaide (Australia),
Aden (Yemen), Vostochny (Russia) and ACT (Hong Kong) and for small
test volumes at Embraport (Brazil).
[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. Also
adjusts for small test volumes at London Gateway (UK)(.)
This information is provided by RNS
The company news service from the London Stock Exchange
END
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