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DP World achieves revenue of US$9 billion in first half 2023

DP World has described its financial results for the first half as “resilient”, with the company’s chairman and CEO, Sultan Ahmed Bin Sulayem, saying that while the near-term trade outlook may be uncertain due to macroeconomic and geopolitical factors, the H1 financial performance positions DP World well to deliver a steady set of full-year results.

The global port operator increased its revenue by 13.9% to US$9 billion and adjusted EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortisation) by 7% to US$2.6 billion with an adjusted EBITDA margin of 28.9%.

Moreover, net cash generated from operating activities stood at US$1.95 billion for the first half of 2023, compared to US$1.93 million in the same period last year.

DP World said it remains positive on the medium to long-term outlook for global trade and is focused on delivering integrated supply chain solutions to cargo owners to drive sustainable returns.

Sultan Ahmed Bin Sulayem, commented, “Despite facing a softer container market and weakened freight rates amid challenging economic conditions, our focus on high-margin cargo, end-to-end bespoke supply chain solutions and cost optimisation has been crucial in securing these results.”

He went on to add, “We remain optimistic about the medium to long-term prospects of the industry and DP World’s capacity to consistently generate sustainable returns.”





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