DP World Reports 1.1% Gross Like-For-Like Volume Growth in 3Q 2019
We are seeing positive signs of progress in our new businesses that give us encouragement for the future.
DP World PLC handled 17.7 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in 3Q2019, with gross container volumes growing by 1.1 % year-on-year on a like-for-like basis[1]. On a nine-month basis, like-for-like gross container volumes grew by +0.7% year-on-a year to 53.5 million TEU.
Jebel Ali (UAE) handled 3.6 million TEU in 3Q2019, down -1.0% year-on-year, as volumes stabilised following a shift of low-margin cargo. Growth in Asia and India remains robust with strong growth in ATI (Philippines), Qingdao (China). Growth in India has been driven by Cochin, Mundra and NSIGT (Mumbai). Decline in reported volumes in Asia Pacific & Indian Subcontinent is due to discontinued operations in Surabaya (Indonesia) and Tianjin (China).
At a consolidated level[2], our terminals handled 10.3 million TEU during 3Q 2019, a +0.8% improvement year-on-year on a like-for-like basis. The strong reported growth of +93.7% in Americas and Australia region is due to the consolidation of Australia and acquisition of the two terminals in Chile.
Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem commented:
“Our portfolio continues to deliver a steady volume performance which is encouraging given the challenging macro backdrop caused by the global trade dispute. However, despite this uncertainty, it is encouraging to see robust growth in key markets such as Asia Pacific and Indian Subcontinent, while growth in west coast of Americas remains solid. In Europe, London Gateway continues to deliver strong growth due to market share gains. While we have seen volumes stabilising in Jebel Ali (UAE), the outlook remains uncertain given the regional geopolitics and we remain focused on profitable origin & destination cargo.’’
“On our broader portfolio, we continue to make progress in strengthening our product offering, allowing us to connect directly with end customers to deliver a range of unique logistic solutions. We are seeing positive signs of progress in our new businesses that give us encouragement for the future. The near-term focus is on integrating our recent acquisitions, managing costs and disciplined investment to cement DP Worlds position as the logistics partner of choice. Overall, we remain well placed to deliver full year market expectations.’’
Further Information
|
Gross Volume ‘000 TEU |
3Q 2018 |
3Q 2019 |
3Q % Growth (like for like) |
9M 2018 |
9M 2019 |
9M % Growth (like for like) |
|
Asia Pacific & India Subcontinent |
8,080 |
7,704 |
-4.6% (+4.2%) |
23,701 |
23,950 |
+1.1% (+5.1%) |
|
Europe, Middle East and Africa* |
7,624 |
7,576 |
-0.6% (-0.5%) |
23,215 |
22,713 |
-2.2% (-1.8%) |
|
Americas & Australia |
2,315 |
2,452 |
+5.9% (-3.6%) |
6,723 |
6,880 |
+2.3% (-5.6%) |
|
Total Group |
18,019 |
17,732 |
-1.6% (+1.1%) |
53,639 |
53,543 |
(-0.2%) (+0.7%) |
|
|
|
|
|
|
|
|
|
*Jebel Volumes included in Middle East, Africa and Europe region |
3,601 |
3,563 |
-1.0% (-1.0%) |
11,339 |
10,719 |
-5.5% (-5.5%) |
|
|
|
|
|
|
|
|
|
Consolidated Volume ‘000 TEU |
3Q 2018 |
3Q 2019 |
3Q % Growth (like for like) |
9M 2018 |
9M 2019 |
9M % Growth (like for like) |
|
Asia Pacific & India Subcontinent |
2,177 |
2,290 |
+5.2% (+5.2%) |
6,602 |
6,975 |
+5.7% (+5.7%) |
|
Europe, Middle East and Africa* |
5,853 |
5,881 |
+0.5% (+0.6%) |
18,011 |
17,543 |
-2.6% (-2.1%) |
|
Americas & Australia |
1,076 |
2,085 |
+93.7% (-3.9%) |
3,070 |
5,233 |
+70.5% (-5.1%) |
|
Total Group |
9,107 |
10,257 |
+12.6% (+0.8%) |
27,683 |
29,752 |
+7.5% (-0.9%) |
[1] Like for like container volume does not include volumes from Paita (Peru) Doraleh (Djibouti), Puerto Central, Puerto Lirquen (Chile), Australia consolidation, normalise concession expiry in Surabaya (Indonesia) and discontinuation of concession of Tianjin (China)
[2] Consolidated throughput is throughput from all terminals where the group has control as per IFRS.
DP World is a leading enabler of global trade and an integral part of the supply chain.
We operate multiple yet related businesses – from marine and inland terminals, maritime services, logistics and ancillary services, to technology-driven trade solutions.
We have a portfolio of over 150 operations in over 45 countries across six continents, with a significant presence in both high-growth and mature markets. We aim to be essential to the bright future of global trade, ensuring that everything we do contributes positively and sustainably to both the economy and society.
Our dedicated team of more than 46,000 employees from 120 countries cultivates long-standing relationships with governments, shipping lines, importers and exporters, communities, and many other important constituents of the global supply chain, providing quality value-added services today and tomorrow.
Container handling is the company’s core business and generates more than 50% of its revenue. In 2018, DP World handled 71.4 million TEU (twenty-foot equivalent units) across our portfolio. With its committed pipeline of developments and expansions, the current gross capacity of 91 million TEU is expected to rise in line with market demand.
By thinking ahead, foreseeing change and innovating, DP World aims to create the most productive, efficient and safe trade solutions globally.