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


Share Data (15/11/2018) Dubai
Currency USD
Previous Close 17.99
Change (%) 1.07
Volume 129,300
Number of Shares (mil) 830
Market Cap (mil) 14,932

 Key figures 2015 2016 2017
Consolidated Income Statement, USD Mil      
Revenue from operations 3,967.7 4,163.3 4,714.7
Adjusted EBITDA 1,928.1 2,263.1 2,469.0
Net finance costs -387.1 -338.1 -329.9
Profit for the year 969.9 1,259.5 1,362.5
Profit attributable to Owners of the Company 882.6 1,126.6 1,208.5
Consolidated Statement of Financial Position, USD Mil      
Total assets 20,259.1 20,704.3 23,113.9
Total equity 9,134.6 9,519.7 11,625.4
Total liabilities 11,124.5 11,184.6 11,488.5
Consolidated Statement of Cash Flows, USD Mil      
Net cash from operating activities 1,780.7 1,844.5 2,207.9
Net cash (used in)/from investing activities -4,024.6 -1,258.9 -586.0
Net cash used in financing activities -11.8 -701.3 -1,481.4
Cash and cash equivalents as at 31 December 1,436.6 1,299.4 1,483.7
Key indicators      
Basic Earnings Per Share, US cents 106.4 123.4 141.8
Earnings Per Share exc SDI, US cents 106.3 135.7 145.6
Adjusted EBITDA margin, % 48.6 54.4 52.4
Return on Capital Employed, % 7.9 9.5 8.8

 Company presentation

DP World has a portfolio of more than 78 marine terminals across six continents with the Group’s core business in the highly resilient container handling operations which generates approximately 70% 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 36 years.

Key Capacity Additions
2017 Year End Capacity New Developments and major expansions 2018 Year End
Forecast
2020
Forecast
Consolidated Capacity 49.7 m TEU
  • Jebel Ali (UAE) T3 – 1.5m TEU
  • London Gateway (UK) – 0.8m TEU
  • Prince Rupert (Canada) – 0.5m TEU
  • Berbera (Somaliland) – 0.15m TEU
  • PNC consolidation
Approx. 51m TEU Approx. 55m TEU
Gross Capacity
(Consolidated plus equity-accounted investees)
88.2 m TEU As above plus:
  • Qingdao (China) – 0.5m TEU
  • Rotterdam (Netherlands) – 0.7m TEU
Approx. 90m TEU Approx. 100m TEU
  • Many of our existing portfolio of terminals have the ability to increase capacity as utilization rates and customer demand increases.
  • 2017 new consolidated capacity: Jebel Ali (UAE) T3 1.5m TEU, London Gateway (UK) 0.8m TEU, Prince Rupert (Canada) 0.5m TEU and Berbera (Somaliland) 0.15m TEU.
  • 2018 expected new capacity: UAE, Pusan (South Korea), and Maputo (Mozambique).
Key Capacity Additions
2017 Year End Capacity New Developments and major expansions
Consolidated Capacity 49.7 m TEU
  • Jebel Ali (UAE) T3 – 1.5m TEU
  • London Gateway (UK) – 0.8m TEU
  • Prince Rupert (Canada) – 0.5m TEU
  • Berbera (Somaliland) – 0.15m TEU
  • PNC consolidation
Gross Capacity
(Consolidated plus equity-accounted investees)
88.2 m TEU As above plus:
  • Qingdao (China) – 0.5m TEU
  • Rotterdam (Netherlands) – 0.7m TEU
2018 Year End Forecast 2020 Forecast
Consolidated Capacity Approx. 51m TEU Approx. 55m
TEU
Gross Capacity
(Consolidated plus equity-accounted investees)
Approx. 90m TEU Approx. 100m
TEU
  • Many of our existing portfolio of terminals have the ability to increase capacity as utilization rates and customer demand in cre ases.
  • 2017 new consolidated capacity: Jebel Ali (UAE) T3 1.5m TEU, London Gateway (UK) 0.8m TEU, Prince Rupert (Canada) 0.5m TEU and Berbera (Somaliland) 0.15m TEU.
  • 2018 expected new capacity: UAE, Pusan (South Korea), and Maputo (Mozambique).

EBITDA Margins remain above 50%
$ million 2017 2016 As reported % change % Change Like-for-like at constant currency(1)
Share of profit from equity-accounted investees 124 149 (17.3%) 31.2%
Adjusted EBITDA (including share of profit from equity-accounted investees) 2,469 2,263 9.1% 8.0%
Adjusted EBITDA Margin 52.4% 54.4% - 53.2%(2)

1 Like-for-like normalises for monetisations, new developments, currency impact and consolidations of PNC (South Korea) and Santos (Brazil).
2 Displays adjusted EBITDA margin on a like-for-like basis rather than % change.