Dubai, UAE — Dubai port operator DP World Limited has announced a 13.9 percent growth in first half 2023 revenue to $9.03 billion and 7 percent growth in EBITDA to $2.61 billion, with adjusted EBITDA of 28.9 percent.
DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem, said the company’s balance sheet remains robust, and it continues to generate high levels of cash flow, which provides the flexibility to invest in the growth of the company’s existing portfolio and new investment opportunities when they arise.
“While the near-term trade outlook may be uncertain due to macroeconomic and geopolitical factors, the solid financial performance of the first six months positions us well to deliver a steady set of full-year results. We remain optimistic about the medium to long-term prospects of the industry and DP World’s capacity to consistently generate sustainable returns,” he said.
He said that despite facing a softer container market and weakened freight rates amid challenging economic conditions, DP World’s focus on high-margin cargo, end-to-end bespoke supply chain solutions and cost optimization has been crucial in securing these results.
“Strategic investments in high-growth sectors enable us to provide value-added solutions, and we remain committed to continuously enhancing our logistics platform. This includes addressing supply chain inefficiencies and enhancing connectivity in crucial trade lanes to serve cargo owners better,” he said.