DP World’s profits up in 2012

According to the company, revenue of US$3,121m was 5% ahead of the prior year driven by strong growth in the Middle East, Europe and Africa region representing its ability to improve revenue from both its container and non-container operations even with the tougher operating environment in some markets.

Adjusted EBITDA increased to $1,407m and 45.1% respectively through improved efficiencies and productivity, which led to higher utilisation and EBITDA margin particularly in the Asia Pacific and Indian Subcontinent region and the Middle East, Europe and Africa region.

DP World continues to improve cash generation with net cash from operating activities at Us$1,231m helping reduce net debt to US$2.9bn and strengthening its balance sheet.