{"id":85176,"date":"2025-03-17T00:00:00","date_gmt":"2025-03-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2025\/03\/17\/dp-world-sees-revenue-jump-net-income-dip-for-fy-2024\/"},"modified":"2025-03-17T00:00:00","modified_gmt":"2025-03-17T00:00:00","slug":"dp-world-sees-revenue-jump-net-income-dip-for-fy-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2025\/03\/17\/dp-world-sees-revenue-jump-net-income-dip-for-fy-2024\/","title":{"rendered":"DP World sees revenue jump, net income dip for FY 2024"},"content":{"rendered":"

Dubai<\/strong>-based<\/strong> port operator DP W<\/strong>orld\u2019s <\/strong>net income<\/strong> dropped 2% y-o-y to <\/strong>USD 1.48 bn<\/strong> in <\/strong>FY 202<\/strong>4<\/strong> on the back of higher financing costs, according to its financial statements<\/a>(pdf)<\/a> released on Thursday. The firm\u2019s revenues climbed 9.7% y-o-y during the same period to USD 20 bn <\/p>\n

Behind the numbers: <\/strong>The firm attributed the topline gains to new concessions and acquisitions as well as stronger performance from ports and terminals, whose revenue per TEU saw a 13.9% increase on a like-for-like basis largely due to growth in the Middle East and the Americas.<\/p>\n

A breakdown: <\/strong>The company\u2019s ports and terminals segment contributed the most to its top line, recording a 21% y-o-y boost in revenues to USD 7.7 bn. Overall capacity for the segment surpassed 100 mn TEUs, with nearly USD 2.2 bn poured into capital expenditure. Revenues from logistics parks and zones rose nearly 3.5% y-o-y over the same period to USD 8.2 bn, boosted by DP World expanding its freight network to more than 200 locations. Revenue from the marine services division climbed 4.3% y-o-y over the same period to around USD 4.1 bn. <\/p>\n

Yearly highlights<\/strong>:<\/strong> In July 2024, the port operator formed DP World Evyap<\/a> \u2014 a JV with Turkey\u2019s Evyap Group \u2014 for the management of two major ports in Turkey\u2019s Marmara region. The logistics division added two verticals under its purview in 2024, namely Chemicals as well as Retail via DP World\u2019s acquisition<\/a> of Hong Kong-based logistics firm Cargo Services Far East in September. The division now covers eight verticals, covering 50% of global GDP, the company said. On the sustainability front, DP World issued MENA\u2019s first blue bond in December<\/a> \u2014 valued at USD 100 mn \u2014 to fund sustainable port development, expanding marine ecosystem conservation and restoration projects, and marine pollution initiatives.<\/p>\n

The voyage ahead<\/strong>: <\/strong>DP World intends to continue expanding its portfolio via targeted acquisitions as well as scouting out new markets, with a capital expenditure budget of USD 2.5 bn spread across the UAE, Saudi Arabia, the UK, India, and Senegal, the company said. It holds a positive medium-term outlook anchored by the sector\u2019s stable fundamentals.<\/p>\n

\n

Alexandria Container and Cargo Handling-<\/p>\n

Alexandria Container and Cargo Handling saw its net income rise 55.9% y-o-y<\/strong> in 1H <\/strong>2024-25 <\/strong>to<\/strong> EGP 3.4 bn<\/strong>, according to the company\u2019s latest earnings (pdf)<\/a>. Revenues rose 55.3% y-o-y to EGP 3.9 bn during the same period.<\/p>\n","protected":false},"excerpt":{"rendered":"

New concessions and acquisitions drove up revenues, while higher financing costs dragged down the bottom line<\/p>\n","protected":false},"author":1,"featured_media":85177,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[175],"tags":[23,174,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-85176","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-dp-world","tag-earnings-watch","tag-shipping-maritime","wpautop","entry"],"acf":{"mongo_id":"a6b2a52f-4e33-41ab-89dc-51b7e07fb42e","order":"13","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/3\/1292.jpg","photo_position":"above","homepage_title":"","full_issue_title":"DP World sees revenue jump, net income dip for FY 2024","related_issue":[85154],"teaser":"New concessions and acquisitions drove up revenues, while higher financing costs dragged down the bottom line","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.8410f26b-d779-45f2-b8a9-a344bc082f7f.mp3"},"yoast_head":"\nDP World sees revenue jump, net income dip for FY 2024 - 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