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


Share Data (21/06/2017) Dubai
Currency USD
Previous Close 20.90
Change (%) -1.42
Volume 121,250
Number of Shares (mil) 830
Market Cap (mil) 17,347

 Key figures 2016 2015 2014
Consolidated Income Statement, USD Mil      
Revenue from operations 4,231.6 4,042.9 3,463.4
Adjusted EBITDA 2,263.1 1,928.1 1,588.2
Net finance costs -430.2 -400.8 -285.6
Profit for the year 1,155.1 971.8 782.1
Profit attributable to Owners of the Company 1,024.3 882.9 700.6
Consolidated Statement of Financial Position, USD Mil      
Total assets 20,704.3 20,259.1 17,904.7
Total equity 9,519.7 9,134.6 9,026.7
Total liabilities 11,184.6 11,124.5 8,878.1
Consolidated Statement of Cash Flows, USD Mil      
Net cash from operating activities 1,844.5 1,780.7 1,354.2
Net cash (used in)/from investing activities -1,258.9 -4,024.6 -700.8
Net cash used in financing activities -701.3 -11.8 527.9
Cash and cash equivalents as at 31 December 1,299.4 1,436.6 3,723.1
Key indicators      
Basic Earnings Per Share, US cents 123.4 106.4 84.4
Earnings Per Share exc SDI, US cents 135.7 106.3 81.4
Adjusted EBITDA margin, % 54.4 48.6 46.6
Return on Capital Employed, % 9.5 7.9 7.1

 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
2016 Year End Capacity New Developments and major expansions (operational start date in brackets where announced) 2017 Year End
Forecast
2020
Forecast
Consolidated Capacity 42.4 m TEU
  • Jebel Ali (UAE) T2 & T3 – 0.5m TEU each
  • Yarimca (Turkey) – 0.8m TEU
  • Mumbai (India) – 0.2m TEU
  • Southampton (UK) – 0.18m TEU
  • Antwerp Inland (Belgium) – 0.16m TEU
  • London Gateway (UK) – 0.8m TEU (in 2017)
  • Busan (South Korea) – 0.5m TEU
Approx. 50m TEU Approx. 55m TEU
Gross Capacity
(Consolidated plus equity-accounted investees)
84.6 m TEU As above plus:
  • Melbourne (Australia) – 0.1m TEU
  • Antwerp Gateway (Belgium) – 0.7m TEU
  • Laem Chabang (Thailand) – 0.2m TEU
Approx. 89m 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 consolidated capacity: Jebel Ali (UAE) T2 and T3 0.5m TEU each, Yarimca (Turkey) 0.8m TEU, Mumbai (India) 0.2m TEU, Southampton (UK) 0.18m TEU, Antwerp Inland (Belgium) 0.16m TEU.
  • 2017 expected new capacity: Jebel Ali (UAE), London Gateway (UK), Prince Rupert (Canada), Berbera (Somaliland), and Dakar (Senegal).
Key Capacity Additions
2014 Year End Capacity New Developments and major expansions
(operational start date in brackets where announced)
Consolidated Capacity Approx. 50m TEU
  • Jebel Ali (UAE) T2 & T3 – 0.5m TEU each
  • Yarimca (Turkey) – 0.8m TEU
  • Mumbai (India) – 0.2m TEU
  • Southampton (UK) – 0.18m TEU
  • Antwerp Inland (Belgium) – 0.16m TEU
  • London Gateway (UK) – 0.8m TEU (in 2017)
  • Busan (South Korea) – 0.5m TEU
Gross Capacity
(Consolidated plus equity-accounted investees)
Approx. 89m TEU As above plus:
  • Melbourne (Australia) – 0.1m TEU
  • Antwerp Gateway (Belgium) – 0.7m TEU
  • Laem Chabang (Thailand) – 0.2m TEU
2015 Year End Forecast 2020 Forecast
Consolidated Capacity Approx. 50m TEU Approx. 55m
TEU
Gross Capacity
(Consolidated plus equity-accounted investees)
Approx. 89m 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.
  • 2016 new consolidated capacity: Jebel Ali (UAE) T2 and T3 0.5m TEU each, Yarimca (Turkey) 0.8m TEU, Mumbai (India) 0.2m TEU, Southampton (UK) 0.18m TEU, Antwerp Inland (Belgium) 0.16m TEU.
  • 2017 expected new capacity: Jebel Ali (UAE), London Gateway (UK), Prince Rupert (Canada), Berbera (Somaliland), and Dakar (Senegal).

Further EBITDA Margin expansion
$ million 2016 2015 % Change % Change Like-for-like at constant currency(1)
Share of profit from equity-accounted investees 149 53 183.5% 30.5%
Adjusted EBITDA (including share of profit from equity-accounted investees) 2,263 1,928 17.4% 6.6%
Adjusted EBITDA Margin 54.4% 48.6% - 52.6%(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