DP World’s positive and encouraging financial performance

During the year, consolidated throughput rose 9% to 27.8m teu, revenue increased 9% to US$3,078m, EBITDA was up 16% to US$1.24bn and annual profit increased 35% to US$450m.

“2010 saw a return to volume growth across almost all our terminals, albeit with different growth rates across regions. We saw both rapid recovery in global trade in those markets most affected by the decline in container volumes in 2009, and a return to more modest growth in those markets which showed resilience during 2009. Almost all our global container terminals are back at, or ahead of, volumes last seen in 2008 which was a peak year,” said DP World chairman Sultan Ahmed Bin Sulayem.

In the Asia Pacific and Indian subcontinent region, results were positively impacted by a full year contribution from the new terminal in Saigon (Vietnam) which opened at the end of 2009, and negatively from the revenue adjustment following the transfer of ATI Manila (Philippines) to a joint venture portfolio in Q4 2009.