DP World Limited, a global logistics provider, announces resilient financial results in the first half of the year. The logistics hub reported a significant growth of 3.3% in revenue, which stood at $9,335 million. However, the figures for the adjusted EBITDA declined by 4.3% to $2,497 with adjusted EBITDA margin of 26.8%. The revenue growth of 3.3% is majorly driven by enhanced operational and supply chain efficiencies at the ports & terminals. The firm also reported a gross container volumes growth of 6.1% surged by strong growth in regions like America, Europe, and Asia-Pacific. The decline in EBITDA is due to the ongoing red sea crisis, which is causing bottlenecks in supply chain movements.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World said - “We are pleased to report resilient results, with revenue increasing by 3.3% in the first half of the year, despite challenging macroeconomic conditions. The year 2024 has been marked by a deteriorating geopolitical environment and disruptions to global supply chains due to the Red Sea crisis. Nevertheless, our strategic emphasis on high-margin cargo, comprehensive end-to-end supply chain solutions, and stringent cost management have been crucial in achieving this financial performance.”
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