DP World Limited DPW DP World handles 14.2 million TEU in third quarter

  DP World Limited (DPW) - DP World handles 14.2 million TEU in third quarter

RNS Number : 8191P
DP World Limited
30 October 2012




                                      

          DP World handles 14.2 million TEU in third quarter of 2012

         4.5% volume growth for the nine months to 30 September 2012

                                      

Dubai, UAE Tuesday 30 October 2012 - DP World Limited handled 14.2 million TEU
(twenty-foot equivalent units) across its portfolio of container terminals  in 
the third quarter of 2012. This was  1% lower than the same period last  year 
reflecting the divestment of  three joint venture terminals  and a decline  in 
volumes in the  Europe, Middle East  and Africa region.  Like for like  gross 
container volume growth in the third quarter was 0.5%^[1].

Gross container volumes have continued to  grow 4.5% in the first nine  months 
of the year driven by strong growth across the Americas, Asia Pacific,  Middle 
East and UAE region.

The UAE region continued to increase the number of containers handled with 3.4
million TEU handled in the third quarter. This takes its volumes in the first
nine months of the year to 4.6% ahead of the same period last year.

Our portfolio of consolidated terminals reported a 0.7% decline in volumes  in 
the third quarter as the Asia  Pacific and Indian Subcontinent region and  the 
Europe, Middle East and  Africa region reported a  small decline in  volumes. 
For the nine months to 30 September, container volumes across our consolidated
portfolio would have increased 3.4% ahead of the same period last year had our
terminals in Australia not been deconsolidated from 12 March 2011.

Chairman Sultan Ahmed Bin Sulayem commented:

"During the third quarter of the year we have taken advantage of opportunities
to reposition our  portfolio towards  higher return businesses  where we  have 
management involvement. These  recent divestments  allow us  to recycle  cash 
into projects already within our pipeline, such as Jebel Ali (UAE) and  London 
Gateway (UK) and, over time, to invest  in new opportunities in line with  our 
strategy, while maintaining balance sheet strength and flexibility."

Group Chief Executive Mohammed Sharaf commented:

"The third quarter of the year has seen a slowdown in container volume growth
with some of our regions reporting  a small decline in volumes reflecting  the 
challenging macroeconomic environment.  Despite this, our  volume growth  for 
the first nine months of the year  reflects good growth over the prior  period 
and whilst there remains uncertainty within the macro economy, we continue  to 
believe we will achieve EBITDA in line with expectations."

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                                                     1 January to 30 September
Gross Volumes                 2012 Q3 V 2011 Q3       2012 v 1 January to 30
                                                          September 2011
                           2012 Q3    2011 Q3     %    YTD 2012 YTD 2011    %
Asia Pacific & India        6,590        2.0%    19,873      8.6%
Subcontinent                             6,458                     18,308
Europe, Middle East and    5,876       -5.4%    17,463      0.1%
Africa*                                  6,208                     17,441
Americas & Australia^(1)  1,758        3.0%   5,085     5.0%
                                         1,708                      4,844
         Total Group^(1)  14,224  14,374 -1.0%    42,422      4.5%
                                                                   40,593



                                                     1 January to 30 September
Consolidated Volumes          2012 Q3 V 2011 Q3       2012 v 1 January to 30
                                                          September 2011
                            2012 Q3   2011 Q3     %  YTD 2012 YTD 2011      %
Asia Pacific & India      1,359     -0.5%  4,183      1.0%
Subcontinent                             1,367                    4,140
Europe, Middle East and   4,924     -2.6%   14,502         2.9%
Africa*                                  5,054                   14,096
Americas & Australia           16.3%  1,839    -17.0%
^(1)                             654       563                    2,217
         Total Group^(1)    6,937  6,983 -0.7%   20,523  20,453   0.3%



*UAE Volumes included in Middle    3,428  3,437 - 0.3%  9,982 9,544 4.6%
East, Africa and Europe region



(1) Australia was de-consolidated on 11 March 2011 and therefore volumes since
12 March 2011 are no longer  included in the consolidated figures.  Excluding 
this, for  the first  nine months  of the  year, growth  in the  Americas  and 
Australia region would have been 11.4%  with volume growth of 3.4% across  the 
global portfolio.

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 [1] Like for  like gross volume growth  normalizes for new volume  in 
Qingdao (China) and Paramaribo (Suriname)  and for divested volume in  Tilbury 
(UK), Adelaide (Australia) and Aden
 (Yemen).

                     This information is provided by RNS
           The company news service from the London Stock Exchange

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MSCGUBDGUDXBGDG -0- Oct/30/2012 07:00 GMT