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REG - DP World Limited - DP World Limited announces FY2025 Results

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RNS Number : 3857W  DP World Limited  12 March 2026

DP WORLD REPORTS RECORD REVENUE OF $24.4 BILLION

AND RECORD EBITDA OF $6.4 BILLION

 

Dubai, United Arab Emirates, 12 March 2026: DP World Limited today announces
financial results for the year ended 31 December 2025. On a reported basis,
revenue increased by 22.0% to $24.4 billion and adjusted EBITDA³ rose by
18.0% to $6.4 billion, with an adjusted EBITDA margin of 26.3%.

 

 USD million unless otherwise stated                           2025    2024    % change  Like-for- like at constant currency % change 2  (#_ftn2)

 Gross throughput (TEU '000)                                   93,366  88,287  5.8%      5.2%
 Consolidated throughput (TEU '000)                            56,087  52,042  7.8%      6.5%
 Revenue                                                       24,422  20,023  22.0%     13.4%
 Share of profit from equity-accounted investees (net of tax)  246     159     54.5%     45.6%
 Adjusted EBITDA 3  (#_ftn3)                                   6,430   5,450   18.0%     16.8%
 Adjusted EBITDA margin                                        26.3%   27.2%   (0.9%)    28.0% 4  (#_ftn4)
 EBIT                                                          4,066   3,357   21.1%     22.1%
 Profit for the year                                           1,960   1,483   32.2%     31.8%
 Profit for the year attributable to owners of the Company     1,072   751     42.7%     -

 

Results Highlights

Ø Revenue increased by 22.0% to a record $24.4 billion

§ Revenue growth was driven by strong performance in Ports & Terminals
and Logistics.

§ Ports & Terminals revenue per TEU increased by 8.5% on a like-for-like
basis, with strong growth from the UAE, Middle East and Africa, Europe and the
Americas.

 

Ø Adjusted EBITDA increased by 18.0% to a record $6.4 billion

§ An increase of $980 million year-on-year.

§ Reported EBITDA margin was 26.3%, with like-for-like margin of 28.0%.

 

Ø Profit for the year increased by 32.2% to nearly $2.0 billion

§ Profit growth reflects strong top-line performance, operating leverage and
disciplined cost management.

 

Ø Selective infrastructure investment across key growth markets

§ Port capacity increased to 109 million TEU.

§ Capital expenditure of $3.1 billion ($2.2 billion in 2024) was invested
across the existing portfolio.

§ Capital expenditure budget for 2026 is approximately $3.0 billion to be
invested mainly in Jebel Ali (UAE), Drydocks World and Jebel Ali Freezone
(UAE), Tuna Tekra (India), London Gateway (UK), Ndayane (Senegal) and Jeddah
(Saudi Arabia).

 

Ø Customer-Centric Logistics Trade Platform

§ Eight focused verticals representing ~50% of global GDP and over 80% of
Group logistics revenues, serving 45,000+ customers worldwide.

§ Integrated ports, logistics, marine services and economic zones aligned to
sector-specific needs, delivering tailored end-to-end supply chain solutions.

§ Positioned to support customers navigating trade reconfiguration, enhancing
resilience, efficiency and connectivity across global corridors.

 

Ø Robust cash generation and healthy balance sheet

§ Cash generated from operating activities increased by 14.0% to $6.3 billion
in 2025 ($5.5 billion in 2024).

§ Leverage (Net debt to adjusted EBITDA) 5  (#_ftn5) on a pre-IFRS16 basis
was stable at 3.4x (FY2024: 3.4x). On a post-IFRS16 basis, net leverage was at
4.0x (FY2024: 4.1x).

 

Ø Jebel Ali operational update

§ Jebel Ali remains fully operational with no infrastructure damage. However,
regional security developments have temporarily reduced inbound vessel traffic
into the port. The Group is implementing operational mitigation measures
across its regional network.

 

Ø Committed to long-term sustainability transition

§ Achieved a 14% reduction in Scope 1 and 2 carbon emissions versus our 2022
base year and increased renewable electricity to approximately 67% of total
electricity sourced globally.

§ Published the final Green Sukuk Allocation and Impact Report, confirming
the full allocation of the US$1.5bn raised in September 2023, within two years
of issuance.

§ Published the inaugural Blue Bond Allocation and Impact Report, with
US$67.64m allocated to eligible blue projects.

 

Ø Strong 2025 performance, ROCE improving, positioned for growth despite
uncertainty

§ Delivered strong financial performance in 2025, while acknowledging
continued uncertainty driven by geopolitical risks and evolving global trade
dynamics, with ROCE improving to 9.9%.

§ DP World remains confident in the medium to long-term outlook for global
trade and is committed to delivering sustainable, integrated supply chain
solutions that create enduring value.

 

 

 

DP World Group Chairman, H.E. Essa Kazim, commented:

DP World delivered record revenue of $24.4 billion and record EBITDA of $6.4
billion in 2025, achieving another year of strong performance despite
heightened geopolitical tensions and tariff-related disruption to global
trade.

 

In an environment defined by heightened uncertainty, our diversified
portfolio, disciplined capital allocation and focus on high-yield cargo
enabled us to generate resilient earnings and strong cash flow. These results
reflect the strength of our integrated platform and our ability to adapt as
supply chains reconfigure.

 

Cargo flows are increasingly shaped by regionalisation, emerging trade
corridors and customers seeking greater reliability and transparency. DP World
is well positioned to support this transition. By combining world-class ports
and terminals with advanced logistics capabilities, we help cargo owners build
more agile, efficient and resilient supply chains.

 

While the near-term outlook remains influenced by geopolitical developments
and changes in trade policy, the long-term fundamentals of global trade remain
compelling. DP World's global footprint, diversified exposure and
customer-centric approach position us well to navigate volatility and continue
creating long-term sustainable value for our stakeholders.

-END-

 

Investor Enquiries

Redwan Ahmed
 
Amin Fikree

DP World
Limited
DP World Limited

Mobile: +971 50 554 1557
                     Mobile: +971 56 6811553

Direct:  +971 4 808 0842
                         Direct : +971 4 808 0923

Redwan.Ahmed@dpworld.com (mailto:Redwan.Ahmed@dpworld.com)
 
 Amin.Fikree@dpworld.com

 

 

 

 

 

 

 

 

 

 

 

 

 

12th March 2026, 12:00pm UAE (8:00am UK) - Conference Call

 

Ø The conference call for analysts and investors hosted by Yuvraj Narayan,
Group CEO.

Ø A playback of the call will be available after the conference call
concludes. For the dial in details and playback details please contact
investor.relations@dpworld.com.

 

The presentation accompanying the conference call will be available on DP
World's website within the investor centre under Financial Results on
https://www.dpworld.com/en/investors/financials-presentations
(https://www.dpworld.com/en/investors/financials-presentations) from
approximately 9am UAE time.

 

 

 

Forward-Looking Statements

 

This document contains certain "forward-looking" statements reflecting, among
other things, current views on our markets, activities, and prospects. By
their nature, forward-looking statements involve risk and uncertainty because
they relate to future events and circumstances that may or may not occur and
which may be beyond DP World's ability to control or predict (such as changing
political, economic or market circumstances). Actual outcomes and results may
differ materially from any outcomes or results expressed or implied by such
forward-looking statements. Any forward-looking statements made by or on
behalf of DP World speak only as of the date they are made and no
representation or warranty is given in relation to them, including as to their
completeness or accuracy or the basis on which they were prepared. Except to
the extent required by law, DP World does not undertake to update or revise
forward-looking statements to reflect any changes in DP World's expectations
with regard thereto or any changes in information, events, conditions or
circumstances on which any such statement is based.

 

 

 

 

 

 

 

 

 

 

 

Group CEO statement

 

Resilient performance amid global trade disruption

In 2025, global trade remained volatile, shaped by geopolitical tensions,
continued disruption to Red Sea shipping routes and evolving tariff policies.
This increased complexity for cargo owners and carriers across global supply
chains. Despite this backdrop, DP World delivered resilient performance,
adapting quickly to shifting trade patterns and maintaining strong momentum
across our global portfolio.

 

Recent regional geopolitical developments have reduced inbound vessel traffic
into Jebel Ali. While infrastructure remains fully operational, we are
deploying regional rerouting and operational mitigation measures to maintain
supply chain continuity during this period.

 

Our results reflect the strength of our diversified footprint and integrated
business model. ROCE improved to 9.9% as we progress toward our 15%
medium-term ambition.

 

By combining disciplined capital allocation, operational excellence and a
customer-centric approach, we continue to support customers through
uncertainty while positioning the business for long-term sustainable growth.
Our diversified portfolio and integrated platform position DP World to
navigate ongoing volatility and deliver sustainable long-term value.

 

Ports & Terminals deliver resilient growth amid trade reconfiguration

DP World's Ports & Terminals business delivered a strong full-year
performance in 2025, demonstrating resilience despite continued geopolitical
tensions, tariff adjustments and prolonged disruption to Red Sea shipping
routes. While global trade flows remained volatile, our diversified portfolio
enabled us to capture new cargo opportunities and maintain solid momentum
across key regions including the Americas, Europe, India, Sub-Saharan Africa
and the GCC.

 

As carriers reconfigured networks and transit times extended due to rerouting
around the Cape of Good Hope, demand increasingly shifted toward reliable
gateway hubs and well-connected terminals. Our focus on operational
efficiency, service reliability and disciplined yield management supported
revenue per TEU growth and reinforced margin strength across the portfolio.

 

We continued to invest selectively in capacity expansion and productivity
enhancements across strategic locations, ensuring we are well positioned to
support evolving trade corridors and long-term containerised trade growth.
These investments, combined with rigorous cost control and asset optimisation,
enable us to scale efficiently while delivering consistent returns.

 

Expanding logistics capabilities within our customer-centric trade platform

Our logistics platform continues to gain scale and momentum across eight
focused verticals, reflecting strong commercial traction and increasing
resonance with beneficial cargo owners globally. As customers seek integrated,
end-to-end solutions, our global trade platform is enabling deeper engagement
and stronger cross-selling across the portfolio.

 

During the year, we strengthened collaboration across our network, advancing
our "One DP World" operating model to unlock synergies between ports,
logistics, marine services and economic zones. As we scale, our focus is
firmly on driving profitable growth through improved operational discipline,
cost efficiency and consistent execution across all markets.

 

With a growing pipeline and expanding sector expertise, we are well positioned
to sustain momentum while balancing growth with quality and returns.

 

Marine Services: Unified under one DP World brand

In 2025, we unified our Marine Services businesses under a single DP World
brand, strengthening our position as a fully integrated global logistics
provider. Formerly operating as Unifeeder, P&O Ferrymasters and P&O
Maritime Logistics, these platforms now operate as Shipping Solutions,
Multimodal Solutions and Maritime Solutions - delivering integrated sea, rail
and inland connectivity under one globally trusted identity.

Together, these businesses deliver seamless, multimodal solutions across key
trade corridors. They are supported by a fleet of more than 150 feeder
vessels, over 100 rail services and inland terminals across Europe and the UK,
and a global maritime fleet of more than 400 vessels. By bringing them
together, we strengthen our ability to provide efficient, reliable and
sustainable end-to-end supply chain solutions, advancing our transformation
into a fully integrated global trade platform.

Drydocks World (UAE) delivered strong performance, underpinned by major
Engineering, Procurement and Construction (EPC) contracts and growing activity
linked to offshore and renewable energy projects. This diversification
strengthens our exposure to long-term structural demand while reinforcing our
core marine and offshore capabilities.

 

Technology driving productivity and customer value

Technology remains central to our operating model. During the year, we further
embedded digital capabilities across terminals, logistics and marine
operations, enhancing productivity, visibility and service reliability. The
continued rollout of our next-generation Terminal Operating System and global
Freight Forwarding System is improving data integration, operational
efficiency and customer experience across the platform. In parallel, we
strengthened our cyber resilience, safeguarding our infrastructure and
customer data in an increasingly digital trade environment.

 

These investments support scalable growth, operational excellence and the
delivery of integrated, data-driven supply chain solutions.

 

 

 

Committed to long-term sustainability transition

In 2025, we further embedded sustainability across our business through a
refreshed Sustainability Strategy, informed by a double materiality assessment
to align our priorities with evolving regulatory, stakeholder and customer
expectations.

 

We published the final Green Sukuk Allocation and Impact Report, confirming
full allocation of the $1.5 billion raised in 2023, and released our inaugural
Blue Bond Allocation and Impact Report, reinforcing our commitment to
transparent and credible sustainable finance.

 

Against our 2022 baseline, we reduced Scope 1 and 2 emissions by 14%, with
approximately 67% of global electricity now sourced from renewables,
reflecting continued progress toward decarbonisation.

 

Our efforts were recognised externally, with EcoVadis upgrading DP World to a
Gold rating, placing us in the top 98th percentile. We also strengthened our
social impact agenda, reaching nearly 4.5 million people globally and
investing approximately $100 million in community programmes over the past
decade.

 

Group CFO review

DP World delivered another year of strong financial performance in 2025, with
adjusted EBITDA increasing by 18.0% to $6.4 billion and an adjusted EBITDA
margin of 26.3%. This performance, achieved despite a challenging
macroeconomic backdrop, reflects the resilience of our diversified portfolio
and the strength of our integrated business model.

 

Revenue increased by 22.0% to $24.4 billion, driven by solid underlying growth
across the Group, particularly within our Ports & Terminals business. On a
like-for-like basis, revenue grew by 13.4%, supported by strong growth from
the Americas and Australia (+21.0%) and from the Middle East, Africa and
Europe (+13.8%).

 

Our financial strength was reinforced during the year by the affirmation of
our credit ratings at BBB+ (Stable) by Fitch and Baa2 (Stable) by Moody's. We
maintained net leverage at 3.4x Net Debt to Adjusted EBITDA on a pre-IFRS16
basis, despite the loss of equity-like treatment following the redemption of
our perpetual bond.

 

Segment Information

 

Asia Pacific and India

 Results before separately disclosed items                     2025    2024    % change  Like-for-like at constant currency % change

 USD million
 Consolidated throughput (TEU '000)                            13,764  13,097  5.1%      3.1%
 Revenue                                                       3,597   2,846   26.4%     2.7%
 Share of profit from equity-accounted investees (net of tax)  148     102     45.7%     44.9%
 Adjusted EBITDA                                               748     709     5.4%      0.4%
 Adjusted EBITDA margin                                        20.8%   24.9%   (4.1%)    24.7%⁴
 Net profit after tax                                          357     360     (0.6%)    (0.3%)
 Capex                                                         289     371     22.3%     -

 

The Asia Pacific and India region delivered healthy reported revenue growth,
supported by resilient performance in India Ports & Terminals and the
full-year contribution from logistics acquisitions across Asia. Revenue
increased by 26.4% to $3.6 billion, while adjusted EBITDA rose to $748
million.

EBITDA margins declined due to a change in revenue mix, reflecting the higher
contribution from newly acquired logistics businesses, which typically operate
at lower margins.

We invested $289 million across the region, primarily in Kandla and Mundra
(India) and Pusan (South Korea).

 

Middle East, Europe, and Africa

 Results before separately disclosed items                     2025    2024    % change  Like-for-like at constant currency % change

 USD million
 Consolidated throughput (TEU '000)                            28,601  26,238  9.0%      7.5%
 Revenue                                                       16,714  13,922  20.1%     13.8%
 Share of profit from equity-accounted investees (net of tax)  82      48      69.8%     45.9%
 Adjusted EBITDA                                               5,148   4,207   22.4%     21.0%
 Adjusted EBITDA margin                                        30.8%   30.2%   0.6%      32.1%⁴
 Net profit after tax                                          3,631   2,849   27.4%     27.2%
 Capex                                                         2,328   1,428   (62.9%)   -

 

The Middle East, Europe and Africa region delivered excellent results, driven
by sustained growth in the UK, UAE and Africa.

 

Revenue increased by 20.1% to $16.7 billion, while adjusted EBITDA rose by
22.4% to $5.1 billion. EBITDA margins improved to 30.8%, reflecting operating
leverage and disciplined cost management across key markets.

 

We invested $2.3 billion across the region, primarily in the UAE - including
Jebel Ali Port, Drydocks World, Dubai Maritime City and EZ World - as well as
in Dakar (Senegal), London Gateway (UK), Jeddah (Saudi Arabia), Dar es Salaam
(Tanzania), Banana (DRC), Constanta (Romania) and our logistics platforms in
Sub-Saharan Africa, Syncreon and London Gateway Park.

 

Australia and Americas

 Results before separately disclosed items                     2025    2024    % change  Like-for-like at constant currency % change

 USD million
 Consolidated throughput (TEU '000)                            13,723  12,707  8.0%      8.0%
 Revenue                                                       4,111   3,255   26.3%     21.0%
 Share of profit from equity-accounted investees (net of tax)  16      9       71.9%     50.2%
 Adjusted EBITDA                                               1,306   1,141   14.5%     16.8%
 Adjusted EBITDA margin                                        31.8%   35.1%   (3.3%)    33.7%⁴
 Net profit after tax                                          864     759     13.8%     19.1%
 Capex                                                         446     359     (24.4%)   -

 

The Australia and Americas region delivered healthy growth during the year,
driven primarily by robust container volumes across the Americas. Australia
maintained a steady performance, providing a stable contribution to the
region's overall results.

 

Total reported revenue increased by 26.3% to $4.1 billion, while adjusted
EBITDA rose by 14.5% to $1.3 billion. Adjusted EBITDA margins remained above
30%, with the year-on-year movement reflecting continued mix changes across
the portfolio.

 

We invested $446 million in capital expenditure across the region, primarily
in Posorja (Ecuador), Santos (Brazil), Fraser Surrey Docks (Canada), Caucedo
(Dominican Republic), Callao (Peru) and our Australian terminals in Sydney,
Brisbane and Melbourne.

 

Service Capabilities

 

Ports & Terminals

 Results before separately disclosed items  2025   2024   % change  Like-for-like at constant currency % change

 USD million
 Revenue                                    9,317  7,747  20.3%     15.7%
 Adjusted EBITDA                            4,602  3,940  16.8%     17.4%
 Adjusted EBITDA margin                     49.4%  50.9%  (1.5%)    52.6%⁴

 

Ports & Terminals delivered an impressive performance in 2025, supported
by healthy volumes, revenue per TEU growth and a continued focus on
high-margin cargo. Revenue per TEU increased by 8.5% on a like-for-like basis,
contributing to strong top-line growth and resilient profitability across the
portfolio.

 

Revenue increased by 20.3% to $9.3 billion, while adjusted EBITDA rose by
16.8% to $4.6 billion. Adjusted EBITDA margin was 49.4%, reflecting the impact
of ongoing investments in greenfield developments. On a like-for-like basis,
margin expanded to 52.6%, highlighting the underlying strength and operating
leverage of the business.

 

We invested $1.8 billion across strategic locations, including Jebel Ali
(UAE), Dakar (Senegal), London Gateway (UK), Santos (Brazil), Constanta
(Romania), Jeddah (Saudi Arabia) and Kandla (India), supporting long-term
capacity growth and enhanced connectivity across key trade corridors.

 

 

 

 

 

 

 

Logistics, parks and economic zones

 Results before separately disclosed items  2025    2024   % change  Like-for-like at constant currency % change

 USD million
 Revenue                                    10,501  8,199  28.1%     12.4%
 Adjusted EBITDA                            1,504   1,162  29.4%     23.2%
 Adjusted EBITDA margin %                   14.3%   14.2%  0.1%      15.4%⁴

 

Logistics, Parks and Economic Zones delivered strong revenue growth in 2025,
supported by robust performance in Parks and Zones and the full-year
contribution from recent acquisitions.

 

Revenue increased by 28.1% to $10.5 billion, while adjusted EBITDA rose by
29.4% to $1.5 billion. Reported EBITDA margin remained stable at 14.3%, with
like-for-like margin improving to 15.4%, reflecting operational leverage and
disciplined cost management as we scale higher-return logistics revenues.

 

We invested $719 million in the business, targeting capacity expansion and
capability enhancements across Sub-Saharan Africa, India, the GCC and Europe,
positioning the segment for continued long-term growth.

 

Marine Services

 Results before separately disclosed items  2025   2024   % change  Like-for-like at constant currency % change

 USD million
 Revenue                                    4,605  4,078  12.9%     10.9%
 Adjusted EBITDA                            1,095  955    14.7%     13.2%
 Adjusted EBITDA margin %                   23.8%  23.4%  0.4%      23.8%⁴

 

Marine Services delivered solid growth in 2025, driven by strong performance
at Drydocks World (UAE), which benefited from new contract awards and
supportive market conditions. Shipping Solutions, including feeder and
short-sea services, recorded significant improvement, while Maritime Solutions
maintained stable performance.

 

Revenue increased by 12.9% to $4.6 billion, while adjusted EBITDA rose by
14.7% to $1.1 billion. EBITDA margin improved to 23.8%, reflecting disciplined
execution and favourable business mix across the segment.

 

We invested $569 million in Marine Services, primarily in Maritime Solutions
and Drydocks World (UAE), supporting fleet enhancement and long-term capacity
expansion.

 

Cash Flow and Balance Sheet

Adjusted gross debt⁵ (excluding bank overdrafts and loans from
non-controlling shareholders) increased to $30.6 billion as of 31 December
2025 (2024: $27.2 billion), primarily reflecting higher lease and service
concession liabilities and the redemption of the perpetual sukuk, resulting in
reclassification from equity to debt.

 

Interest-bearing debt (excluding lease and service concession liabilities)
stood at $22.6 billion (2024: $20.1 billion), while cash and short-term
investments remained stable at $4.7 billion, resulting in net debt of $25.9
billion ($17.9 billion on a pre-IFRS 16 basis), compared with $22.4 billion in
2024 ($15.3 billion on a pre-IFRS 16 basis).

 

Net leverage for 2025 remained stable at 3.4x (FY2024: 3.4x) on a pre-IFRS 16
basis. On a post-IFRS16 basis, net leverage was at 4.0x (FY2024: 4.1x). Cash
flow generated from operating activities increased to $6.3 billion.

 

Capital expenditure

Consolidated capital expenditure in 2025 was $3.1 billion (FY2024: $2.2
billion), with maintenance capital expenditure of $452 million (FY2024: $345
million). Capital expenditure was allocated 57% to Ports & Terminals, 19%
to Logistics, Parks and Economic Zones and 18% to Marine Services, with the
balance invested in Digital and Corporate.

 

We expect the full-year 2026 capital expenditure to be up to $3.0 billion to
be invested mainly in Jebel Ali Port, Drydocks World and Jebel Ali Freezone
(UAE), Banana (Democratic Republic of the Congo), Kandla (India), Jeddah
(Saudi Arabia) and Karachi (Pakistan).

 

Net finance costs before separately disclosed items

Net finance costs in 2025 were stable at $1.4 billion.

 

Taxation

For 2025, DP World's income tax expense before separately disclosed items
increased to $725 million (2024: $490 million). In line with the requirements
of the BEPS Pillar II minimum global taxation rules, the Group's income tax
expense is inclusive of top-up tax totalling $109 million (2024: $2 million)
in respect of DP World entities impacted by jurisdictions that have enacted
the appropriate legislation at the reporting date.

 

The Group has recognised corporate tax liabilities in respect of the profit
earned by entities subject to income tax in the UAE and on the profit earned
by overseas subsidiaries. These have been calculated in accordance with the
provisions of the taxation laws and regulations of the countries in which the
entities operate.

 

Profit attributable to non-controlling interests (minority interests)

Profit attributable to non-controlling interests (minority interest) before
separately disclosed items was $888 million in 2025 (2024: $732 million),
mainly due to change in profit mix.

 

 

 Yuvraj Narayan  Anil Mohta

 Group CEO       Group CFO

 

 

About DP World

 

DP World is reshaping the future of global trade to improve lives everywhere.
Operating across six continents with a team of over 126,000 employees, we
combine global infrastructure and local expertise to deliver seamless supply
chain solutions. From Ports and Terminals to Marine Services, Logistics and
Technology, we leverage innovation to create better ways to trade, minimizing
disruptions from the factory floor to the customer's door.

 

WE MAKE TRADE FLOW

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DP WORLD FULL YEAR 2025 THROUGHPUT

 

DP World Limited handled 93.4 million TEU (Twenty-foot equivalent units)
across its global portfolio of container terminals in full year 2025, with
gross container volumes increasing by 5.8% year-on-year on a reported basis
and up 5.2% on a like-for-like basis. In 4Q 2025, DP World handled 23.9
million TEU, up 4.2% on a reported and on a like-for-like basis.

 

Jebel Ali (UAE) handled 15.6 million TEU in 2025, up 0.1% year-on-year.

 

At a consolidated level, our terminals handled 56.1 million TEU during 2025,
increasing 7.8% on a reported basis and up 6.5% year-on-year on a
like-for-like basis.

 Gross Volume                     4Q      4Q      % Growth          FY      FY      % Growth

 '000 TEU                         2025    2024    (like for like)   2025    2024    (like for like)
 Asia Pacific & India             11,375  11,120  +2.3%             44,703  43,383  +3.0%

                                                  (+2.3%)                           (+2.4%)
 Europe, Middle East and Africa*  8,822   8,394   +5.1%             34,525  31,888  +8.3%

                                                  (+5.1%)                           (+7.5%)
 Americas & Australia             3,738   3,453   +8.3%             14,137  13,016  +8.6%

                                                  (+8.3%)                           (+8.6%)
 Total Group                      23,936  22,968  +4.2%             93,366  88,287  +5.8%

                                                  (+4.2%)                           (+5.2%)

 

 *Jebel Ali Volumes included in Middle East, Africa and Europe region    3,966  4,109  -3.5%  15,552  15,536  +0.1%

 

 Consolidated Volume                     4Q      4Q      % Growth          FY      FY      % Growth

 '000 TEU                                2025    2024    (like for like)   2025    2024    (like for like)
 Asia Pacific & India Subcontinent       3,414   3,372   +1.3%             13,764  13,097  +5.1%

                                                         (+1.3%)                           (+3.1%)
 Europe, Middle East and Africa*         7,395   6,935   +6.6%             28,601  26,238  +9.0%

                                                         (+6.1%)                           (+7.5%)
 Americas & Australia                    3,581   3,309   +8.2%             13,723  12,707  +8.0%

                                                         (+8.2%)                           (+8.0%)
 Total Group                             14,390  13,615  +5.7%             56,087  52,042  +7.8%

                                                         (+5.4%)                           (+6.5%)

 

 

 

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/3857W_1-2026-3-12.pdf (http://www.rns-pdf.londonstockexchange.com/rns/3857W_1-2026-3-12.pdf)
 

 1  (#_ftnref1) Results before separately disclosed items (BSDI) primarily
excludes non-recurring items. DP World reported separately disclosed items of
a $75 million loss for the year.

 2  (#_ftnref2) Like-for-like at constant currency is normalised for the new
acquisitions and concessions at Sabah (Malaysia), Dar es Salaam (Tanzania),
Evyap (Turkey), Dubai Fruits and Vegetables, Dubai Auto Market (UAE) and other
Logistics business mainly Cargo Services Group and Legend.

 3  (#_ftnref3) Adjusted EBITDA is Earnings before Interest, Tax, Depreciation
& Amortisation and including share of profit from equity-accounted
investees (net of tax) before separately disclosed items.

 4  (#_ftnref4) Like-for-like adjusted EBITDA margin.

(#_ftnref5) ⁵ 2024 adjusted gross debt includes 50% hybrid bonds ($738
million) as per rating agency methodology.

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