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


Share Data (20/03/2019) Dubai
Currency USD
Previous Close 16.00
Change (%) 0.88
Volume 595,076
Number of Shares (mil) 830
Market Cap (mil) 13,280

 Key figures 2018 2017 2016
Consolidated Income Statement, USD Mil      
Revenue from operations 5,646.3 4,714.7 4,163.3
Adjusted EBITDA 2,808.0 2,469.0 2,263.1
Net finance costs -435.0 -329.9 -338.1
Profit for the year 1,332.8 1,362.5 1,259.5
Profit attributable to Owners of the Company 1,270.1 1,208.5 1,126.6
Consolidated Statement of Financial Position, USD Mil      
Total assets 26,513.3 26,513.3 23,113.9
Total equity 11,998.9 11,625.4 9,519.7
Total liabilities 14,514.4 11,488.5 11,184.6
Consolidated Statement of Cash Flows, USD Mil      
Net cash from operating activities 1,951.5 2,207.9 1,844.5
Net cash (used in)/from investing activities -2,107.0 -586.0 -1,258.9
Net cash used in financing activities 1,326.9 -1,481.4 -701.3
Cash and cash equivalents as at 31 December 2,614.7 1,483.7 1,299.4
Key indicators      
Basic Earnings Per Share, US cents 156.2 141.8 123.4
Earnings Per Share exc SDI, US cents 153.0 145.6 135.7
Adjusted EBITDA margin, % 49.7 52.4 54.4
Return on Capital Employed, % 8.4 8.8 9.5

 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
2018 Year End Capacity New Developments and major expansions 2019 Year End
Forecast
2020
Forecast
Consolidated Capacity 49.7 m TEU
  • Posorja (Equador) – 0.8m TEU
  • Karachi (India) – 0.1m TEU
  • Australia consolidation
Approx. 54.4m TEU Approx. 55m TEU
Gross Capacity
(Consolidated plus equity-accounted investees)
88.2 m TEU As above:
Approx. 91.2m TEU Approx. 100m TEU
  • Many of our existing portfolio of terminals have the ability to increase capacity as utilization rates and customer demand increases.
  • 2018 new consolidated capacity: Maputo (Mozambique) 0.2m TEU; DPW Santos (Brazil) 1.2m TEU
  • 2019 expected new capacity: Posorja (Equador) – 0.8m TEU; Karachi (India) 0.1m TEU; Australia consolidation
Key Capacity Additions
2018 Year End Capacity New Developments and major expansions
Consolidated Capacity 49.7 m TEU
  • Posorja (Equador) – 0.8m TEU
  • Karachi (India) – 0.1m TEU
  • Australia consolidation
Gross Capacity
(Consolidated plus equity-accounted investees)
88.2 m TEU As above:
2019 Year End Forecast 2020 Forecast
Consolidated Capacity Approx. 54.4m TEU Approx. 55m
TEU
Gross Capacity
(Consolidated plus equity-accounted investees)
Approx. 91.2m 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 2018 2017 % change Like-forlike at constant currency % change(1)
Share of profit from equity-accounted investees 165 124 33.6% 17.3%
Adjusted EBITDA (2) 2,808 2,469 13.7% 6.6%
Adjusted EBITDA Margin(3) 49.7% 52.4% - 54.1%(4)

1 Like-for-like at constant currency is without the new additions at Berbera (Somaliland), Limassol (Cyprus), Drydocks World (UAE), Dubai Maritime City (UAE), CWC (India), Mina Rashid Marina (UAE), Kigali (Rwanda), Cosmos Agencia Marítima (Peru), Reyser (Spain), Unifeeder (Denmark); the discontinuation of Doraleh (Djibouti), Saigon (Vietnam), ; and normalizes for the consolidation of DP World Santos (Brazil).
2 Adjusted EBITDA is Earnings before Interest, Tax, Depreciation & Amortisation but including share of profit from equity-accounted investees before separately disclosed items.
3 The adjusted EBITDA margin is calculated by dividing adjusted EBITDA by revenue.
4 Like-for-like adjusted EBITDA margin.