Chairman's Statement


Dear Shareholders,

“DP World delivered profit for the year of $749 million2 following a strong year of operational performance from its global operations, prudent financial management and proactive management of assets within the portfolio whilst investing in the future growth of the Company.”

Delivering an improvement in profits during what has been a challenging operating environment shows that our portfolio is focused on the right markets, and on delivering the right operations and service to our customers.

This year, we have continued to actively manage our portfolio, managing our assets to maximum advantage, divesting non-core or low return assets, and repaying debt. This has enabled us to move capital into those markets where we see more profitable returns whilst significantly reducing our leverage and strengthening our capital base.

This has all been achieved without compromising our global network or compromising our focus on delivering world class customer service. When taking into account profit from divestments and monetisations, the profit attributable to owners of the Company was $749 million.

We continue to invest in our portfolio with an additional 10 million TEU becoming operational during 2013 and 2014. This new capacity will come into markets where there is significant demand for container terminal capacity, such as Brazil and the UAE, or where the existing infrastructure is insufficient to meet the changing requirements of our customers, for example in the UK and the Netherlands.