{"id":101678,"date":"2025-03-14T00:00:00","date_gmt":"2025-03-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/dp-world-sees-revenue-jump-net-income-dip-in-2024\/"},"modified":"2025-03-14T00:00:00","modified_gmt":"2025-03-14T00:00:00","slug":"dp-world-sees-revenue-jump-net-income-dip-in-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/03\/14\/dp-world-sees-revenue-jump-net-income-dip-in-2024\/","title":{"rendered":"DP World sees revenue jump, net income dip in 2024"},"content":{"rendered":"

Dubai-based port operator DP World\u2019s net income dropped 2% y-o-y t<\/strong>o USD 1.5 bn in 2024<\/strong>,<\/strong> on the back of higher financing costs, according to its financial statements (pdf)<\/a> released on Thursday. Revenues climbed 9.7% y-o-y during the same period to USD 20 bn, on the back of new concessions and acquisitions as well as stronger performance from ports and terminals.<\/p>\n

A breakdown: <\/strong>The company\u2019s ports and terminals contributed the most to its topline \u2014 recording a 21% y-o-y boost in revenues to USD 7.7 bn. Overall capacity for the segment surpassed 100 mn TEUs \u2014 with nearly USD 2.2 bn poured in 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>In July 2024, the port operator formed DP World Evyap<\/a> \u2014a JV with Turkey\u2019s Evyap Group\u2014for 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. <\/p>\n

The voyage ahead: <\/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. It holds a positive medium-term outlook anchored by the sector\u2019s stable fundamentals.<\/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":101679,"comment_status":"","ping_status":"open","sticky":false,"template":"","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":[1596],"tags":[244,237,7],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-101678","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-dp-world","tag-earnings-watch","tag-enterpriseam-uae","wpautop","entry"],"acf":{"mongo_id":"cab15a4a-ddf2-43b1-8af1-7cecc66bb35f","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/1644.jpg","photo_position":"above","homepage_title":"","full_issue_title":"DP World sees revenue jump, net income dip in 2024","related_issue":[101660],"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\/.a00b62d2-ad65-454d-9818-118902fa1230.mp3"},"yoast_head":"\nDP World sees revenue jump, net income dip in 2024 - 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