Annual Report 2023

/Banner With Buttons/Home Main Banner with page Links/div component-content/div video-banner video-banner__v2/div video-banner-copy bannerwith-form/div video-banner__form/div video-banner__form-select/select/Action Buttons/option(2,27) : error : Object `linkInfo` is null. Cannot access member: linkInfo.url

DP WORLD ANNUAL REPORT & ACCOUNTS 2023

Download report

Explore our Annual Report to uncover DP World's strategic, operational, and financial highlights. Delve into the Chairman's message and our impactful case studies, reflecting our dedication to transforming global trade. For a deeper dive into our journey and achievements, the complete report is available for download.

Message from the chairman

"In 2023, DP World achieved remarkable progress, embarking on a journey marked by innovations across the Group, adept navigation through geopolitical tensions and the growing challenges posed by climate issues."

H.E. Sultan Ahmed bin Sulayem
Group Chairman & Chief Executive Officer


Read more
THE YEAR IN REVIEW

OUR HIGHLIGHTS

US$18,250m

Revenue

Revenue is in US$ million before separately disclosed items. The results of the Group are set out in detail in the Consolidated Financial Statements and accompanying notes in the full report.

US$1,032m

Profit attributable to owners

Profit attributable to owners of the company is calculated before taking separately disclosed items into account and after minority interest.

US$5,108m

Adjusted EBITDA

Growing adjusted EBITDA (Earnings Before Interest, Tax, Depreciation and amortisation) is a key measure of value delivered to shareholders. Adjusted EBITDA is calculated including our share of profit from equity accounted investees before separately disclosed items.

28.0%

Adjusted EBITDA margin

Adjusted EBITDA (Earnings Before Interest, Tax, Depreciation and amortisation) is a key measure of value delivered to shareholders. The adjusted EBITDA margin is calculated by dividing adjusted EBITDA by revenue.

Principle Pathway

We have demonstrated our sustainability commitment by becoming a Principal Pathway Partner for COP28, embracing ambitious carbon neutrality goals.

New HQ

We announced that we are relocating our global head office to Expo City Dubai, a landmark move in our 50-year journey, expanding our global supply chain solutions.

Humanitarian expenditures

Second Global Freight Summit

The Global Freight Summit, held in Dubai on November 15, 2023, attracted over 4,000 participants, focusing on creating resilient supply chains, inspired by our research.

Ryder Cup

Ryder Cup Europe and PGA of America announced our new partnership, marking us as a Worldwide Partner of the Ryder Cup.

Berbera

In partnership with the Government of Somaliland, we have inaugurated the Berbera Economic Zone, transforming it into a pivotal trade hub in the Horn of Africa.

New acquisition

We have strengthened our commitment to the automotive industry by acquiring CFR Rinkens, a specialised logistics service provider based in Long Beach, California.

$10bn investment

Since 2012, we've invested over $10 billion (AED37.3 billion) in logistics, ranking us among the top five global investors, as recent FDI data shows.

Decarbonisation

We cut carbon emissions from our UAE operations by nearly 50% this year by accessing renewably produced energy.

BUSINESS REVIEW

With a vision to lead the future of world trade, we are working towards providing end-to-end supply chain solutions for our customers and partners.

Logistics

In a year of strategic expansion and groundbreaking partnerships, we have redefined logistics, marking our presence as a global leader in trade and transport solutions.

2023 was pivotal for us in logistics, with expansions like the Dominican Republic's air cargo hub and the Berbera Economic Zone in Somaliland. We've also extended our reach in Sub-Saharan Africa through collaboration with Standard Bank and acquired CFR Rinkens, enhancing our automotive logistics services. Our UK-based "Modal Shift Programme" aims to reduce carbon emissions significantly by shifting freight from road to rail. Despite economic challenges, our persistent investment and focus on innovation and sustainability have solidified our position as a leading player in the global logistics sector.

altText

Ports & Terminals

In 2023, we expanded our ports and terminals network, embracing innovation and sustainability, to create greater trade opportunities for our customers.

This year, we've bolstered our global network with key investments in Tanzania, Indonesia, and India, expanding and modernising crucial ports. In the UAE, we've launched initiatives to retrofit port terminal tractors as part of our decarbonisation efforts. Furthermore, we've formed the Zero Emission Port Alliance (ZEPA) to electrify container handling equipment, and conducted a pioneering study on climate change impacts on our ports and terminals. Despite market volatility, we continue diversifying and advancing our value proposition in port operations.

altText

Marine Services

Leading the way in sustainable Marine Services: our commitment to decarbonisation and efficiency in 2023

In 2023, our Marine Services significantly reduced its carbon footprint, surpassing our sustainability goals. We've launched P&O Ferries’ hybrid ship, P&O Pioneer, showcasing our commitment to low-carbon marine transport. Furthermore, we introduced the first direct freight service between the UAE and Iraq, enhancing efficiency and safety. These efforts reflect our dedication to sustainable marine services, efficient deployment networks, and reduced fuel consumption, aligning with our environmental stewardship objectives and contributing to global decarbonisation efforts.

altText

Technology

Revolutionising global logistics: our technological advancements and milestones in 2023

We've achieved significant technological strides in 2023, enhancing global logistics with cutting-edge Robotics and IoT. Key developments include launching our proprietary technology for freight-forwarding and celebrating two years of DUBUY.com, connecting over 5,000 vendors to our logistics network. We've also partnered with UAE Trade Connect to combat fraudulent invoices. Our warehouses are now equipped with advanced robotics for efficient operations, and through a partnership with Standard Bank, we're providing accessible trade finance in Africa, underscoring our commitment to digitising global trade.

altText