- We strategically adjusted our portfolio, divesting and monetising some of our assets in Hong Kong (China) and recycling capital into faster growing markets and new developments, including Jebel Ali (UAE), Embraport (Brazil), Rotterdam (Netherlands) and the DP World London Gateway port (UK).
- We opened the new extension to Container Terminal 2 (T2) at Jebel Ali port (UAE). The expansion adds one million TEU, extending the T2 quay wall by 400 metres to 3,000 metres, allowing for the simultaneous handling of six ultra-large container vessels.
- We opened the c. $2.3bn DP World London Gateway port and logistics park project (UK) on schedule in the fourth quarter of 2013.
ROCE (return on capital employed) is EBIT before separately disclosed items as a percentage of total assets, less current liabilities.
Our ROCE is impacted by the very low age profile of our portfolio and the up front capital investment required. ROCE has almost doubled in the last four years and we are making good progress towards our target of 15% on our existing portfolio by 2020.
EPS (earnings per share) is calculated by dividing the profit after tax attributable to owners of the Company (before separately disclosed items) by the weighted average shares outstanding.
In 2013, our EPS grew 27% on a like-for-like basis, displaying our ability to target higher margin cargo, improve efficiencies and maintain costs.