DP World reported revenue growth of 3.3% to $9.335 billion for the first half of 2024, driven by strong performance of its Ports and Terminals business.

The company, the world’s fifth-largest terminal operator, reported 6.1% year-on-year growth in comparable gross container volume, with notable strength in the Americas, Europe, Asia Pacific and Jebel Ali.

Adjusted EBITDA decreased 4.3% to $2,497 million, reflecting disruptions in the Red Sea region and organic investments in expanding the logistics platform. Despite these challenges, the Adjusted EBITDA margin remained at 26.8%.

DP World remains optimistic about the medium to long-term outlook for global trade. The company is committed to providing integrated supply chain solutions to cargo owners and aims to deliver sustainable earnings despite challenging geopolitical and macroeconomic conditions. The positive momentum from the first half of 2024 positions DP World for improved adjusted EBITDA in the second half of the year, according to the company.

Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World Group, said 2024 would be marked by a deterioration in the geopolitical environment and disruptions to global supply chains due to the Red Sea crisis. “Despite challenging macroeconomic conditions and disruptions to global supply chains, our strategic focus on high-margin cargo, comprehensive end-to-end supply chain solutions and strict cost management were critical to achieving this financial performance,” he said.

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