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DP World reports record revenue of $20 billion for 2024
Increase was driven primarily by improved performance in ports and terminals
- PUBLISHED: Thu 13 Mar 2025, 5:41 PM
DP World on Thursday announced a record revenue of $20 billion for 2024, marking a 9.7 per cent increase from the previous year. The company’s adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) also reached a record high of $5.5 billion, reflecting a 6.7 per cent growth and an adjusted Ebitda margin of 27.2 per cent.
The 9.7 per cent revenue increase was driven primarily by improved performance in ports and terminals, alongside contributions from recent acquisitions and concessions, DP World said in a statement.
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Revenue per twenty-foot equivalent unit (TEU) rose by 13.9 per cent on a like-for-like basis, with significant growth reported in the Middle East and the Americas.
DP World reported a profit of $1.5 billion for the year, a 2.0 per cent decline attributed to higher finance costs.
Sultan Ahmed bin Sulayem, DP World Group chairman and CEO, said the record revenue and Ebitda for 2024 is a significant achievement in a complex geopolitical landscape. “Our strategic focus on high-margin cargo and integrated supply chain solutions positions us for sustained growth and value creation,” he added.
Sulayem emphasised the importance of enhancing efficiency and deepening partnerships to build a resilient business capable of seizing new opportunities as global trade evolves. He noted that the demand for integrated logistics solutions underscores the value DP World provides to its customers, helping them navigate complexities in supply chains.
A DP World statement noted that the company’s total capacity exceeded 100 million TEUs, supported by ongoing investments in key growth markets. In 2024, DP World allocated $2.2 billion in capital expenditure, an increase from $2.1 billion in 2023. The 2025 capital expenditure budget is projected at approximately $2.5 billion, focusing on facilities in the UAE, India, the UK, Senegal, and Saudi Arabia.
DP World is enhancing its logistics portfolio to provide value-added services in fast-growing markets. The firm aims to leverage its infrastructure to deliver comprehensive supply chain solutions, capitalising on the rising demand for customised logistics services.
Operating cash flow increased by 18.9 per cent to $5.5 billion. The company’s net leverage ratio saw a decrease to 3.4x on a pre-IFRS16 basis, compared to 3.7x in FY2023, indicating improved financial health.
DP World issued a $100 million blue bond, marking a significant step in its commitment to sustainability. The company also became the first logistics firm in the region to have its carbon reduction targets validated by the Science Based Targets initiative, surpassing its 10.5 per cent carbon emissions reduction goal and sourcing nearly 65 per cent of its electricity from renewable energy.
Despite a strong performance in 2024, DP World faces uncertainties due to geopolitical risks and fluctuations in global trade. However, the company remains optimistic about its long-term growth prospects, supported by its integrated supply chain solutions and strategic investments.
