DP World 2024 revenue up 10% at $20bn, profit drops marginally

DP World reported a 10 percent increase in revenue for the year ended 31 December 2024 at $20 billion, mainly due to improved performance from ports and terminals and contributions from new acquisitions and concessions.

Profit for 2024 declined marginally (two percent) to $1.48 billion from $1.51 billion in 2023, says an official release.

"Ports and terminals revenue per TEU increased 13.9 percent on a like-for-like basis with strong growth from the Middle East and Americas."

DP World capacity exceeded 100 million TEU due to selective infrastructure investment in key growth markets, the release added. "Capital expenditure of $2.2 billion ($2.1 billion in 2023) was invested across the existing portfolio.

Capital expenditure budget for 2025 is approximately $2.5 billion to be invested mainly in Jebel Ali (UAE), Drydocks World and Jebel Ali Freezone (UAE), Tuna Tekra (India), London Gateway (U.K.), Ndayane (Senegal) and Jeddah (Saudi Arabia)."

Sultan Ahmed bin Sulayem, Group Chairman and CEO, DP World says: "We are proud to report record revenue of $20 billion and record EBITDA of $5.5 billion for 2024, a remarkable achievement given the complex geopolitical landscape. These results demonstrate the benefits of our strategic focus on high-margin cargo, end-to-end integrated supply chain solutions and disciplined cost optimization.

"Our asset-appropriate strategy, combined with critical infrastructure in key markets, ensures that we scale efficiently while delivering specialised capabilities where they are needed most. Strategic investments in high-growth sectors and emerging trade corridors are expanding our expertise, enabling us to provide value-added solutions. By enhancing connectivity and streamlining supply chains, we are reinforcing DP World’s role as a leading trade enabler—helping cargo owners navigate complexity, go to market quicker and build greater supply chain resilience.

"As part of our long-term strategy, we continue to invest in our portfolio through targeted bolt-on acquisitions, expand into new locations and add high-value capabilities that align with our clients' evolving needs. We maintain a positive medium-term outlook, supported by strong industry fundamentals and DP World’s ability to deliver sustainable, long-term returns."

Cash generated from operating activities increased 19 percent to $5.5 billion in 2024 ($4.6 billion in 2023), the release added.