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  Market: Dubai Symbol: DPW ISIN: AEDFXA0M6V00 Industry: Transportation


Share Data (22/02/2017) Dubai
Currency USD
Previous Close 20.86
Change (%) 0.77
Volume 438,931
Number of Shares (mil) 830
Market Cap (mil) 17,314

 Key figures 2015 2014 2013
Consolidated Income Statement, USD Mil      
Revenue from operations 4,042.9 3,463.4 3,073.2
Adjusted EBITDA 1,928.1 1,588.2 1,414.2
Net finance costs -400.8 -285.6 -284.9
Profit for the year 971.8 782.1 721.8
Profit attributable to Owners of the Company 882.9 700.6 639.6
Consolidated Statement of Financial Position, USD Mil      
Total assets 20,259.1 17,904.7 16,760.5
Total equity 9,134.6 9,026.7 9,021.5
Total liabilities 11,124.5 8,878.1 7,739.0
Consolidated Statement of Cash Flows, USD Mil      
Net cash from operating activities 1,780.7 1,354.2 1,211.7
Net cash (used in)/from investing activities -4,024.6 -700.8 -210.8
Net cash used in financing activities -11.8 527.9 -304.3
Cash and cash equivalents as at 31 December 1,436.6 3,723.1 2,571.1
Key indicators      
Basic Earnings Per Share, US cents 106.4 84.4 77.1
Earnings Per Share exc SDI, US cents 106.3 81.4 72.8
Adjusted EBITDA margin, % 48.6 46.6 46.0
Return on Capital Employed, % 7.9 7.1 6.7

 Company presentation

DP World has a portfolio of more than 77 marine terminals across six continents with the Group’s core business in the highly resilient container handling operations which generates approximately 80% of revenues.  The Group generates more than 75% of its throughput in faster growing markets and 70% of its volumes in higher margin origin & destination cargo.  DP World has an average concession life of approximately 40 years.

Key Capacity Additions
2015 Year End Capacity New Developments and major expansions (operational start date in brackets where announced) 2016 Year End
Forecast
2020
Forecast
Consolidated Capacity 40.1 m TEU
  • Dubai (UAE) CT2 – 0.5m TEU
  • Dubai (UAE) CT3 – 0.5m TEU
  • London Gateway (UK) – 1.0m TEU
43m TEU Approx. 55m TEU
Gross Capacity
(Consolidated plus equity-accounted investees)
79.6 m TEU As above plus:
  • Busan (South Korea) – 0.5m TEU
  • Melbourne (Australia) – 0.1m TEU
  • Antwerp Gateway (Belgium) –
    0.7m TEU
  • Antwerp Inland (Belgium) –
    0.16m TEU
  • Laem Chabang (Thailand) –
    0.2m TEU
85m TEU Approx. 100m TEU*
  • Many of our existing portfolio of terminals have the ability to increase capacity as utilization rates and customer demand increases.
  • 2016 new capacity: Dubai (UAE) CT2 0.5m and CT3 0.5m, Yarimca (Turkey) 0.5m and London Gateway (UK) 1.0m operation in 2H2016.
  • Capex guidance is unchanged at between $1.2bn-$1.4bn for 2016 and $1.2bn for 2017.
Key Capacity Additions
2014 Year End Capacity New Developments and major expansions
(operational start date in brackets where announced)
Consolidated Capacity 40.1 m
TEU
  • Dubai (UAE) CT2 – 0.5m TEU
  • Dubai (UAE) CT3 – 0.5m TEU
  • London Gateway (UK) – 1.0m TEU
Gross Capacity
(Consolidated plus equity-accounted investees)
79.6 m
TEU
As above plus:
  • Busan (South Korea) – 0.5m TEU
  • Melbourne (Australia) – 0.1m TEU
  • Antwerp Gateway (Belgium) – 0.7m TEU
  • Antwerp Inland (Belgium) – 0.16m TEU
  • Laem Chabang (Thailand) – 0.2m TEU
2015 Year End Forecast 2020 Forecast
Consolidated Capacity 43m
TEU
Approx. 55m
TEU
Gross Capacity
(Consolidated plus equity-accounted investees)
85m
TEU
Approx. 100m
TEU*
  • Many of our existing portfolio of terminals have the ability to increase capacity as utilization rates and customer demand increases.
  • 2016 new capacity: Dubai (UAE) CT2 0.5m and CT3 0.5m, Yarimca (Turkey) 0.5m and London Gateway (UK) 1.0m operation in 2H2016.
  • Capex guidance is unchanged at between $1.2bn-$1.4bn for 2016 and $1.2bn for 2017.

Further EBITDA Margin expansion
$ million 2015 2014 % Change % Change Like-for-like at constant currency(1)
Share of profit from equity-accounted investees 52.7 78 (32.4%) 10.9%
Adjusted EBITDA (including share of profit from equity-accounted investees) 1,928 1,588 21.4% 5.7%
Adjusted EBITDA Margin 48.6% 46.6% 2% 47.3%(2)

1 Like-for-like normalises for monetisationsand new developments as well as currency impact
2 Displays Adjusted EBITDA margin on a like-for-like basis rather than % change