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DP World raises 2025 capex to develop global assets

By Pramod Kumar
DP World's capex reached $2.2 billion in 2024 compared with $2.1 billion in 2023 BELGA via Reuters Connect
DP World's capex reached $2.2 billion in 2024 compared with $2.1 billion in 2023

Dubai-headquartered DP World intends to increase its capital expenditure this year to upgrade its global assets despite geopolitical challenges.

DP World’s Capex reached $2.2 billion in 2024 compared with $2.1 billion in 2023, the state-backed ports operator said in a statement published on Nasdaq Dubai.

Capex for 2025 is set at $2.5 billion, primarily targeting Jebel Ali, Drydocks World and Jebel Ali Freezone in the UAE; Tuna Tekra, India; London Gateway, UK; Ndayane, Senegal; and Jeddah, Saudi Arabia.

DP World’s profit for 2024 took a hit as a result of higher finance costs.

Profit attributable to owners fell 28 percent year on year to $591 million last year. Profit for the year declined 2 percent annually to $2.5 billion.

The top line grew 9 percent year on year to $20 billion, supported by improved performance of ports and terminals, as well as contributions from new acquisitions and concessions.

While DP World started the year positively, chairman and CEO Sultan Ahmed bin Sulayem said that global trade remains in flux because of ongoing geopolitical challenges.

The company will continue to invest through targeted bolt-on acquisitions and expand into new locations, he said.
 

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