December 02, 2008

Update on DP World’s performance in 2007

DP World has announced excellent results from its portfolio of 42 marine terminals for the year ended December 31st 2007. New developments were won and planned capacity expansions came on line, allowing DP World to keep pace with the expanding needs of its customers globally.

Mr Sultan Ahmed Bin Sulayem chairman of DP World said that "This is an excellent set of results driven by DP World’s well positioned portfolio which benefits from the strong Asia to European trade routes and the growth of container cargo in the faster growing economies of the emerging markets. This is a trend we expect to continue. This outstanding result, a 52% growth in profits, was achieved at the same time as the company made significant business wins and undertook an initial public offering. We have now built an excellent financial platform to support our future growth."

He added that "DP World continues to invest for its growth. Taking the capital intensive nature of our business into consideration, but acknowledging that we are a financially strong company with the ability to finance our existing pipeline of 13 new developments, the board is recommending a greater than expected dividend of 1.33 cents per ordinary share for the full year 2007."

Mr Mohammed Sharaf CEO of DP World said that "2007 saw DP World move to become a pure port operator. We entered new markets in Africa and won approval to develop two new ports in capacity constrained northern Europe with London Gateway and Maasvlakte 2, Rotterdam. Our volumes increased well ahead of the market during 2007, growing 18% against an expected 12.2%3 for the global market overall. Our flagship port, DP World Jebel Ali, grew to become the world’s seventh largest port, handling a record 10 million TEU."

DP World is one of the largest marine terminal operators in the world, with 43 terminals and 13 new developments across 28 countries4. Its dedicated, experienced and professional team of nearly 30,000 serves customers in some of the most dynamic economies in the world.
DP World aims to enhance customers’ supply chain efficiency by effectively managing container, bulk and other terminal cargo.
The company constantly invests in terminal infrastructure, facilities and people, working closely with customers and business partners to provide quality services today and tomorrow, when and where customers need them.

DP World performed strongly in 2007, delivering increased profits and adding value for customers. Our strong financial performance in the first half of 2007 continued into the second half, with profits more than doubling over that period to record a 2007 profit of USD 420 million up by 52% YoY over 2006.