DP World reported a seven percent increase in revenue at $18.3 billion for the year ended December 31, 2023. Profit for 2023 declined 18 percent to $1.5 billion, mainly due to higher finance costs, says an official release. "Adjusted EBITDA increased by two percent to $5.1 billion, and EBITDA margin for the year stood at 28 percent. Like-for-like adjusted EBITDA margin stood at 28.9 percent." Sultan Ahmed bin Sulayem, Chairman and CEO, DP World says: "This achievement is particularly noteworthy considering the significant challenges posed by a deteriorating geopolitical landscape and challenging macroeconomic conditions. Our strategic focus on high-margin cargo, end-to-end integrated supply chain solutions and diligent cost optimisation have played a pivotal role in securing these results. Not only has this strategy proven effective during these testing times but it also lays a solid foundation for our sustainable long-term growth and returns."
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