DP World has announced strong financial results for the 12 months ending 31st December 2017. The company achieved earnings of more than $1 billion and an EBITA of more than 50% for the full year.

On a reported basis, revenue grew 13.2% and adjusted EBITDA increased 9.1% with adjusted EBITDA margin of 52.4%, delivering profit attributable to owners of the Company, before separately disclosed items, of $1,209 million, up 7.3%, and EPS of 145.6 US cents. On a like-for-like basis, revenue grew 6.0%, adjusted EBITDA increased by 8.0% with adjusted EBITDA margin of 53.2%, and earnings attributable to owners of the Company increased 15.1%.

On a like-for-like basis, the Dubai-based terminal operator’s earnings grew at 15.1% ahead of revenue growth of 6.0% and EBITDA growth of 8%.

DP World’s volumes have also continued to grow ahead of the market.

Gross volumes grew 10.1% year-on-year, ahead of Drewry Maritime’s full year market estimate of 6%.

DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, commented: “Going forward, we expect this trend to continue as we seek opportunities in complementary sectors in the global supply chain and also make use of new technology and data solutions to provide better service to our customers.