DUBAI / WAM
DP World generated a cash flow of AED 5.3 billion ($1.43 billion) as on December 31, 2015, in spite of the global economic slowdown and world trade slump. The strong cash generation is due to the Group’s ambitious expansion plan and growth of its portfolio of global terminals and business volumes, particularly in Mumbai in India and Yarimca in Turkey both of which added 800k TEU of capacity each, in addition to 850k TEU capacity which came in line with the acquisition of Prince Rupert terminal in Canada, and continued expansion in London Gateway Logistics Park in UK and Jebel Ali Freezone in UAE.
It is expected that DP World will make good use of such remarkable business growth and available cash pile up to further boost its operations locally and worldwide. The Group has allocated around $1.2bn to $1.4bn of capital expenditure for investments planned into Jebel Ali and Jebel Ali Freezone, UAE, London Gateway in the UK and Prince Rupert in Canada over the year 2016.
The Dubai-based global ports operator sets the UAE at the vanguard of world economy as a global provider of knowhow and expertise in many industries, including ports, free zones, trade, freight and logistics. The company is also a great enabler of national economic diversification, besides its role in supporting the economies of friendly nations.
Boasting a solid portfolio of 70 marine and mainland terminals across the six continents, DP World predicts to have approximately 86 million TEU of gross global capacity by the end of 2016, an increase of nearly 15 million TEU since 2012, and over 100 million TEU of gross capacity by 2020.