DP World Limited Investor Presentation May 2017
|
|
- Audrey Bradley
- 6 years ago
- Views:
Transcription
1 DP World Limited Investor Presentation May
2 Our Journey From Local to Regional to Global Port Operator : Local port operator Development of Port Rashid (Dubai, UAE) Opening of Jebel Ali Port (Dubai, UAE) Port Rashid and Jebel Ali Port operations combined to create Dubai Ports Authority (DPA) : Regional port operator Dubai Ports International FZE (DPI) formed Concessions won in Jeddah (Saudi Arabia) and Doraleh (Djibouti) Concession won in Visakhapatnam (India) Concession won in Constanta (Romania) Concession won in Cochin (India) : Global port operator CSX World Terminals acquired The Peninsular & Oriental Steam Navigation Company (P&O) acquired. 2006/7. Global network and market position increased in Asia, India, Australia, the Americas, Europe and Africa DP World listed on NASDAQ Dubai : DP World London Gateway port welcomes first scheduled vessel. Embraport (Brazil) becomes operational. Acquisition of Economic Zones World FZE (EZW) Acquired Fairview Container Terminal in Prince Rupert (Canada) : Our Journey continues Jebel Ali Port reaches 18 million TEU capacity. Lease agreement for Rodney Container Terminal in St. John Canada. 50 year concession for the development of a greenfield multipurpose port project in Posorja (Ecuador). 30 year concession for Port of Berbera in Somaliland. Partnership with CDPQ to create US$ 3.7B Investment Platform. Increases stakes in Pusan Newport Company Limited with 66.03% ownership. London Gateway wins first Asia-Europe service and opens third berth 2
3 F 2018F 2019F 2020F Globalisation and the growth of the Container World container traffic vs. World GDP More than 90% of cargo is transported on Sea 15.0% 10.0% 5.0% 0.0% Container volumes growing at a multiple to GDP -5.0% -10.0% Container Volume Growth Global GDP Growth Container Ports Characteristics Resilient volumes, high cash generation, and limited operators. Light regulation cost of container handling is less than 10% of total transport logistics. High entry barriers capital expenditure heavy, strategic assets. Concessions are perpetual in practice. Why does a multiplier exist? Distance between manufacturing and consumption location requires transhipment which leads to containers being handled more than once. Trade imbalance leads to empty repositioning. Low container penetration rates in emerging markets. 1 World GDP data from the IMF World Economic Outlook Update April Container Handling Growth data reported from Drewry Maritime Research March 2017 Report. 3
4 DP World DP World is the only listed global container port operator Over 77 terminals across six continents. 8 new developments and major expansions. 75% of total revenue generated by container port operations. Approximately 9% market share (based on world container throughput) 1. DP World operates container terminals through long term concession agreements Average life of port concessions is approximately 38 years in reality they are perpetual as historically concessions have always been renewed should they meet our returns criteria. Very high barriers to entry. DP World focuses on origin and destination cargo which has pricing power Over 70% of our gross volumes were O&D in 2016 and have to go through our ports. Shipping lines do not dictate our volumes imports and exports do. DP World focuses on the faster growing markets and key trade routes Approximately 75% of our volumes generated from emerging or frontier markets in Diversified portfolio. Strong presence in key East-West trade route. 1. Drewry Maritime Research 2016 Annual Report 4
5 Our Global Footprints GDP Growth < 0 0-2% 2-4% +4% Hub Terminal Terminal 5
6 Overview of 2016 Financial Results Results before separately disclosed items (1) unless otherwise stated USD million As Reported % change % change Like-for- like at constant currency (2) Gross throughput (3) (TEU 000) 63,658 61, % 2.2% Consolidated throughput (4) (TEU 000) 29,240 29, % (1.6%) Revenue 4,163 3, % 1.3% Share of profit from equity-accounted investees % 30.5% Adjusted EBITDA (5) 2,263 1, % 6.6% Adjusted EBITDA (6) margin % 54.4% 48.6% % (6) Profit for the period 1, % 9.0% Profit for the period attributable to owners of the Company 1, % 6.2% Profit for the period attributable to owners of the Company after separately disclosed items 1, % - Basic Earnings per share attributable to owners of the Company (US cents) % 6.2% Ordinary Dividend per share (US Cents) % - 1 Before separately disclosed items (BSDI) primarily excludes non-recurring items. DP World reported separately disclosed items of -$104.4 million. 2 Like-for-like at constant currency is without the addition of new capacity at Yarimca (Turkey), Stuttgart (Germany), Antwerp Inland (Belgium), Prince Rupert (Canada) and Jebel Ali Free Zone (UAE). 3 Gross throughput is throughput from all consolidated terminals plus equity-accounted investees. 4 Consolidated throughput is throughput from all terminals where the group has control as per IFRS. 4 Adjusted EBITDA is Earnings before Interest, Tax, Depreciation & Amortisation including share of profit from equity-accounted investees before separately disclosed items. 5 The adjusted EBITDA margin is calculated by dividing adjusted EBITDA by revenue, including our share of profit from equity-accounted investees. 6 Like-for-like adjusted EBITDA margin. 6
7 Strong Performance in 2016 Revenue growth and improved EBITDA margin Strong balance sheet and cash generation Continued investment in high quality long-term assets Revenue increased by 4.9% supported by the acquisitions of Jebel Ali Free Zone (UAE) and Prince Rupert (Canada). Like-for-like revenue increased by 1.3% driven by a 2.3% increase in containerized revenue. Adjusted EBITDA margin for the full year reached a new high of 54.4% reflecting the Jebel Ali Free Zone acquisition and increased contribution from other higher margin locations. Like-for-like adjusted EBITDA margin was at 52.6%. Cash from operating activities amounted to $2,002 million up from $1,928 million in Free cash flow (post cash tax maintenance capital expenditure and pre dividends) amounted to $1,674 million against $1,595 million in Leverage (Net Debt to adjusted EBITDA) decreased to 2.8 times from 3.2 times in Capital expenditure of $1,298 million invested across the portfolio during Key capacity expansions include Jebel Ali (UAE), London Gateway (UK), Yarimca (Turkey) and Mumbai (India). We expect capital expenditure in 2017 to be $1.2 billion with investment planned into Jebel Ali (UAE), Prince Rupert (Canada), Posorja (Ecuador), Berbera (Somaliland), Dakar (Senegal), and London Gateway (UK). Strong earnings growth and dividends Strong adjusted EBITDA growth resulted in a 27.6% increase in attributable profit (BSDI) on a reported basis and 6.2% growth on a like-for-like basis. Ordinary dividend increased by 26.7% to 38 US cents to reflect growth in 2016 earnings. 7
8 Throughput Overview Gross Volumes 000 TEU 1Q Q H H 2016 FY 2015 FY 2016 Volume 2015 Volume 2016 Asia Pacific & India Subcontinent 4.7% 5.8% 2.8% 2.9% 1.6% 4.6% 28,285 29,587 Europe, Middle East and Africa* 0.0% 5.2% 7.1% 0.6% 4.1% 1.4% 25,985 26,338 Americas & Australia 13.4% 7.0% -0.1% 8.3% 5.3% 4.1% 7,430 7,734 Total Group 3.7% 5.7% 4.2% 2.5% 3.0% 3.2% 61,701 63,658 Consolidated Volumes 000 TEU 1Q Q H H 2016 FY 2015 FY 2016 Volume 2015 Volume 2016 Asia Pacific & India Subcontinent 11.3% 99.9% -1.5% 6.6% -0.6% 1.8% 4,870 4,957 Europe, Middle East and Africa* -1.1% 1.6% 5.2% -1.6% 2.8% -1.3% 21,556 21,279 Americas & Australia 15.4% 13.5% -0.4% 19.4% 8.6% 11.9% 2,684 3,003 Total Group 2.3% 19.9% 3.5% 1.6% 2.7% 0.4% 29,110 29,240 *UAE Volumes included in Europe, Middle East and Africa -5.9% 1.8% 6.0% -6.0% 2.3% -5.3% 15,592 14,772 8
9 Debt Position $ million 31 Dec Dec 2015 Total debt 7,618 7,670 Cash balance 1,299 1,437 Net debt 6,319 6,234 Net debt/adjusted EBITDA 2.8 times 3.2 times Interest cover 6.7 times 5.0 times Well matched debt profile with long-term debt to meet long-term nature of our business. Highly cash generative business - generating cash from operations of $2,002 million and a cash balance of $1,299 million. Leverage of 2.8 times (net debt to EBITDA) below the guidance range of 4 times. 9
10 USD Million Debt Maturity Profile Convertible bond Sukuk MTN Bank loans & Others In 2016, we have reduced refinancing risk and extended the debt maturity profile by a new $1.2bn 7-year sukuk issuance and tender offer, 650 million financing at London Gateway, and $CAD 603 million financing for the Canadian business. Next major debt maturities include $387 million in outstanding Sukuk due in July 2017, followed by the $650 million JAFZ Sukuk in 2019, the $500 million MTN in 2020, and the new $1.2 billion Sukuk in In February 2017, a $250 million term loan facility maturing in June 2017 was prepaid. $1 billion convertible bond maturing in 2024 (puttable in 2018 and 2021) and $1.75 billion conventional bond maturing in
11 Maintaining Differentiation from Peers Operator 2015 Throughput 2015 Market Share 2015 Equity TEU * Market Share Capacity Key Focus Hutchinson Port % 6.9% Holdings (1) APM Terminals PSA International % 5.2% % 7.7% 91.5 COSCO Group (2) % 3.0% 80.2 DP World % 5.4% (3) 78.1 Significant exposure to transhipment in Hong Kong High volumes in China, limited in North America & Africa Exposed to slow growth in Hong Kong cargo Low number of active greenfield developments Exposed to one shipping line more than 50% of revenue Primarily gateway (some transhipment exposure) Significant presence in mature Europe & North America, no presence in Oceania Significant exposure to transhipment especially in Singapore Mix of mature & emerging markets, strong home base in Singapore No presence in Africa and North America, limited presence in Latin America Increasing portfolio expansion plans (greenfield) and development of capacity at existing locations e.g. Singapore Mainly focused on China although expanding internationally Primarily gateway, limited exposure to transhipment Limited expansion plans, focus on development of capacity Primarily origin and destination cargo (70%) with pricing power Emerging market focus and strong presence in Europe High global presence, limited in North America Significant developments in Jebel Ali & London Gateway Expansion in emerging and mature markets Source: Drewry Maritime Research 2016 Annual Report. *Equity TEU adjusts figures to match the % ownership of terminals. (1) Hutchison figure include HPH Trust volumes (2) Cosco Group includes Cosco Pacific and Cosco Container Line (3) DP World equity league ranking: #4 in 2015 and #3 in
12 Containerisation Penetration Rates Remain Low Region / country 2015 port throughput (mn TEU) Estimated population in 2015 (mn People) Container / thousand capita in 2015 (TEU / 000 people) China 215 1, UK North America Europe 118 1, WORLD 685 7, Latin America Brazil Russia Africa 24 1, India 12 1,276 9 Notes: Port throughput figures include gateway and transhipment volumes Significant volumes of unitised traffic also move in ro-ro mode in some countries e.g. UK Source: Drewry Maritime Research 2015 Annual Report 12
13 Dubai Serves a Wide Region Midway between Asia & Europe Trade gateway for GCC, ISC & Africa Population access of over 2 billion Logistics hub for Arabian Gulf Host to the World Expo 2020 Pro-business government Rapidly growing trade and services sectors Cosmopolitan city with high standard of living Excellent healthcare & educational services Diverse living environment, over 200 nationalities Secure environment AED 1.26 trillion Non-oil foreign trade in (2016) Largest domestic market in the region Jebel Ali Port is 9th largest port worldwide (Lloyds List/CI 2016) 18 million TEU capacity (2016) 180+ shipping lines, 90+ weekly services World's busiest international airport 84 million passengers in 2016 Handled 592 MMT air freight in 2016 DWC: Dubai s emerging cargo airport Rail network in GCC by 2020 Etihad Rail (UAE) will span 1,200 kms 75 Kms of Metro Tramway of 14 Kms #4 #22 #10 #25 Trading Across Borders 14 (World Bank) #1 MENA region Ease of Doing Business report 15 (World Bank) - Globally Global Connectedness Index 2016 (DHL) 2016 Economic Freedom Index - globally 9 13
14 Jebel Ali Port & Free Zone (JAFZ) Integrated One Stop Shop for Business Solution 57 sq. km. modern commercial and industrial logistics park adjacent to Jebel Ali port and Al Maktoum international Airport 100% foreign ownership 0% corporate and personal taxes The freedom to repatriate both capital and profits No recruitment restrictions No currency restrictions Offering long term contracts Over 7,000 companies & more than 100 fortune 500 companies already in the Free Zone Best in class port operations brought together with Free Zone s intermodal, logistic facilities, customs and other services 14
15 Update on Free Zone Trading remains in line with expectations Total number of companies exceeds 7,000 Additional space in JAFZA One tower released. Completion of tower two in 1H2017. Further capacity added to warehouse and onsite residential segment in % 95% 90% 85% 80% 75% 70% 65% Occupancy Rates % Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Land Warehouse Office On-Site Residential Occupancy rates of Jebel Ali Free Zone Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Land 79% 77% 80% 83% 89% 90% Warehouse 90% 90% 94% 95% 94% 84% Office 80% 87% 92% 95% 85% 66% On-Site Residential Note: Warehouses include showrooms 88% 84% 87% 100% 99% 95% 21 15
16 Key Capacity Additions 2016 Year End Capacity New Developments and major expansions in 2016 (operational start date in brackets) 2017 Year End Forecast 2020 Forecast Consolidated Capacity 42.4 m TEU Jebel Ali (UAE) T2 & T3 0.5m TEU each Yarimca (Turkey) 0.8m TEU Mumbai (India) 0.2m TEU Southampton (UK) 0.18m TEU Antwerp Inland (Belgium) 0.16m TEU London Gateway (UK) 0.8m TEU (in 2017) Busan (South Korea) 0.5m TEU Approx. 50m TEU Approx. 55m TEU Gross Capacity (Consolidated plus equityaccounted investees) 84.6 m TEU As above plus: Melbourne (Australia) 0.1m TEU Antwerp Gateway (Belgium) 0.7m TEU Laem Chabang (Thailand) 0.2m TEU Approx. 89m TEU Approx. 100m TEU Many of our existing portfolio of terminals have the ability to increase capacity as utilization rates and customer demand increases new consolidated capacity: Jebel Ali (UAE) T2 and T3 0.5m TEU each, Busan (South Korea) 0.5m TEU, Yarimca (Turkey) 0.8m TEU, Mumbai (India) 0.2m TEU, Southampton (UK) 0.18m TEU, and Antwerp Inland (Belgium) 0.16m TEU expected new capacity: Jebel Ali (UAE), London Gateway (UK), Prince Rupert (Canada), Berbera (Somaliland), and Dakar (Senegal). 16
17 DP World Key Financial Metrics $ million Gross Throughput (TEU mn) Revenue 2,821 3,078 2,978 3,121 3,073 3,411 3,968 4,163 EBITDA 1,072 1,240 1,307 1,404 1,414 1,588 1,928 2,263 EBITDA margin 38.0% 40.3% 43.9% 45.0% 46.0% 46.6% 48.6% 54.4% Leverage (Net Debt / EBITDA) PAT ,259.5 EPS ROCE % 3.8% 4.4% 6.0% 6.8% 6.7% 7.1% 7.9% 9.5% Interest cover x Capex 967 1, , ,389 1,298 Acquisition & Monetisation (1,504) (374) (620) 83 4, Consolidated Terminal Capacity (TEU mn) Gross Capacity (TEU mn) Capacity Utilisation 72.7% 77.3% 78.8% 80.4% 77.8% 78.7% 77.5% 75.2% 17
18 2016 Return on Capital Employed 50.0% 40.0% 30.0% 20.0% 15% 10.0% 0.0% -10.0% -20.0% -30.0% -40.0% -50.0% Return on Capital Employed (ROCE) improved to 9.5% in 2016 from 7.9% in Approximately 35% of our global capacity delivers returns in excess of 15%. Newer capacity or investment in pre-operational capacity reduces group ROCE. Includes all DP World consolidated terminals and our equity-accounted investees. 18
19 DP World Peer Group Comparison Spread over Mid-Swaps DPW 2037 DPW 2020 DPW 2017 DPW 2023 JAFZ 2019 TAQA 2024 DEWA2020 TAQA 2036 Issuer MOODY FITCH S&P DP World Baa2 BBB - JAFZ Baa2 BBB - TAQA A3 - A- DEWA Baa Source: Bloomberg as of 31/03/2017 On 5 th August 2016, Fitch upgraded DP World to BBB from BBB- with stable outlook. On 1 st September 2016, Moody s upgraded DP World to Baa2 from Baa3 with stable outlook. 19
20 Thank you INVESTOR RELATIONS CONTACTS Redwan Ahmed, Director Investor Relations Lie-Tin Wu, Investor Relations Manager Investor Relations 20
DP World Limited Investor Presentation September 2017
DP World Limited Investor Presentation September 2017 1 Our Journey From Local to Regional to Global Port Operator 1972 1998: Local port operator 1972. Development of Port Rashid (Dubai, UAE). 1979. Opening
More informationDP World Limited. Investor Presentation January 2018
DP World Limited Investor Presentation January 2018 1 Our Journey From Local to Regional to Global Port Operator 1972 1998: Local port operator 1972. Development of Port Rashid (Dubai, UAE). 1979. Opening
More informationDP World Limited. Investor Presentation March 2018
DP World Limited Investor Presentation March 2018 1 Our Journey From Local to Regional to Global Port Operator 1972 1998: Local port operator 1972. Development of Port Rashid (Dubai, UAE) 1979. Opening
More informationDP World Limited Investor Presentation June 2018
DP World Limited Investor Presentation June 2018 Our Journey From Local to Regional to Global Port Operator 1972 1998: Local port operator 1972. Development of Port Rashid (Dubai, UAE) 1979. Opening of
More informationDP World Limited Investor Presentation September 2018
DP World Limited Investor Presentation September 2018 Table of Contents 1 Company Overview 4 2 Industry Overview 7 3 1H 2018 Financial Results Overview 9 4 Throughput Overview 14 5 Debt Position & Maturity
More information2017 Interim Results Presentation For the Half Year ended 30 June 2017 Presentation to Investors and Analysts. 24 August 2017
2017 Interim Results Presentation For the Half Year ended 30 June 2017 Presentation to Investors and Analysts 24 August 2017 2 Table of Contents Section 1 Introduction Yuvraj Narayan, Chief Financial Officer
More informationDP World PLC. Investor Presentation January 2019
DP World PLC Investor Presentation January 2019 Our Journey: From Local to Regional to Global Port Operator Regional Port Operator 1999-2004 1999. Dubai Ports International FZE (DPI) formed 2000. Concessions
More information2018 Interim Results Presentation
Presentation to Investors and Analysts 16 August 2018 2018 Interim Results Presentation Half Year ending 30 June 2018 Table of Contents Section 1 Introduction Yuvraj Narayan, Group Chief Financial Officer
More informationDP WORLD ANNOUNCES SOLID FINANCIAL RESULTS Like-for-like Earnings grow 15.8% in First Half of 2017
DP WORLD ANNOUNCES SOLID FINANCIAL RESULTS Like-for-like Earnings grow 15.8% in First Half of Dubai, United Arab Emirates, 24 August,. Global trade enabler DP World today announces solid financial results
More informationDP WORLD ANNOUNCES STRONG FINANCIAL RESULTS
DP WORLD ANNOUNCES STRONG FINANCIAL RESULTS EPS grows 31 in 2015 driven by EZW acquisition and robust like-for-like growth Dubai, United Arab Emirates, 17 March, 2016. Global trade enabler DP World today
More informationDP WORLD ANNOUNCES ROBUST FINANCIAL RESULTS Revenue growth of 14.4% in First Half of 2018
DP WORLD ANNOUNCES ROBUST FINANCIAL RESULTS Revenue growth of 14.4 in First Half of 2018 Dubai, United Arab Emirates, 16 August 2018. Global trade enabler DP World today announces robust financial results
More informationDP WORLD ANNOUNCES STRONG FINANCIAL RESULTS Like-for-like Earnings growth of 15.1% in 2017
DP WORLD ANNOUNCES STRONG FINANCIAL RESULTS Like-for-like Earnings growth of 15.1 in 2017 Dubai, United Arab Emirates, 15 March 2018. Global trade enabler DP World today announces strong financial results
More informationDP WORLD ANNOUNCES STRONG FINANCIAL RESULTS Earnings grow 50% in First Half of 2016
DP WORLD ANNOUNCES STRONG FINANCIAL RESULTS Earnings grow 50% in First Half of Dubai, United Arab Emirates, 18 August,. Global trade enabler DP World today announces strong financial results for the six
More informationDP WORLD ANNOUNCES ROBUST FINANCIAL RESULTS Revenue growth of 14.4% in First Half of 2018
DP WORLD ANNOUNCES ROBUST FINANCIAL RESULTS Revenue growth of 14.4% in First Half of Dubai, United Arab Emirates, 16 August. Global trade enabler DP World today announces robust financial results for the
More informationInterim Results to 30 June 2012
Interim Results to 30 June 2012 Presentation to Investors and Analysts 29 August 2012 Mohammed Sharaf, Chief Executive Officer Yuvraj Narayan, Chief Financial Officer Agenda Introduction Sultan Ahmed Bin
More informationDP WORLD ANNOUNCES STRONG FINANCIAL RESULTS Like-for-like Earnings growth of 15.1% in 2017
DP WORLD ANNOUNCES STRONG FINANCIAL RESULTS Like-for-like Earnings growth of 15.1% in 2017 Dubai, United Arab Emirates, 15 March 2018. Global trade enabler DP World today announces strong financial results
More informationThe Ideal Criteria for Port Selection
The Ideal Criteria for Port Selection 105th AAPA Annual Convention October 23-26, 2016 New Orleans, LA USA [Caucedo & Posorja Case] Table of Contents 1 Who are we? DP World s Global Portfolio Sections
More informationGlobal Ports Connecting Global Markets Presentation of Interim Results 25 August 2011
Global Ports Connecting Global Markets Presentation of Interim Results 25 August 2011 1 Agenda Overview Mohammed Sharaf, Chief Executive Officer Financial Review Yuvraj Narayan, Chief Financial Officer
More informationDP WORLD LIMITED (a company limited by shares incorporated in the Dubai International Financial Centre)
BASE PROSPECTUS DATED 9 MAY 2016 DP WORLD LIMITED (a company limited by shares incorporated in the Dubai International Financial Centre) U.S.$5,000,000,000 Global Medium Term Note Programme Under this
More informationDP WORLD ANNOUNCES ROBUST FINANCIAL RESULTS Reported revenue growth of 20% in 2018
DP WORLD ANNOUNCES ROBUST FINANCIAL RESULTS Reported revenue growth of 20% in 2018 Dubai, United Arab Emirates, 14 March 2019. Global trade enabler DP World today announces strong financial results for
More informationand Free Zone in the Middle East
Creating the Leading Integrated Port and Free Zone in the Middle East Investor presentation 13 November 2014 Disclaimer IMPORTANT NOTICE These materials have been prepared by DP World Limited (the Company
More informationThe Jebel Ali (JAFZA) Free Zone Company, Dubai General
The Jebel Ali (JAFZA) Free Zone Company, Dubai General Jebel Ali Free Zone (JAFZA) is a 140 km2 free trade zone that offers office units, warehouses and land sites for lease. As one of the largest and
More informationHow Free Trade Zones Can Enhance Trade Development
Conference on Global Connectivity With The Mediterranean Basin, July 2 nd & 3 rd 2012, Treiste, Italy How Free Trade Zones Can Enhance Trade Development Anand V Sharma Mantrana Maritime Advisory Pvt Ltd,
More informationCorporates. DP World Limited. Transportation / United Arab Emirates. Update. Key Rating Drivers. What Could Trigger a Rating Action
Transportation / United Arab Emirates Update Ratings Foreign Currency Long-Term IDR Senior unsecured Short-Term IDR DP World Sukuk Senior unsecured Outlooks Foreign-Currency Long-Term IDR Financial Data
More informationDP World Invests Over $1 Billion in Global Trade in 2017 Adding value across the supply chain for customers and partners
Media Release DP World Invests Over $1 Billion in Global Trade in 2017 Adding value across the supply chain for customers and partners Dubai, United Arab Emirates, 7 January 2018: Growing global trade
More informationABOUT DUBAI WELCOME TO THE FUTURE
ABOUT DUBAI WELCOME TO THE FUTURE This is the city that has it all. Home to over 200 nationalities and easily accessible from just about anywhere in the world, Dubai boasts pristine beaches, rich Arabian
More informationNotes to the consolidated financial statements (forming part of the financial statements)
Annual Report and Accounts Notes to the consolidated financial statements 1. Corporate information DP World Limited ( the Company ) was incorporated on 9 August 2006 as a Company Limited by Shares with
More informationGlobal Infrastructure Series
Boston Strategies International, Inc. November 27 Global Infrastructure Series Global Supply Chain Management: Dubai www.bostonstrategies.com b t t t i (1) (781) 25 815 Page 1 This report has been prepared
More informationEconomic Growth and Port Development in Taiwan
Economic Growth and Port Development in Taiwan Hiroshi IKEGAMI Senior Overseas Research Fellow (Taipei), IDE-JETRO 2017/3/14 (C) IDE-JETRO All rights reserved. 1 Today s Presentation 1. Location of Taiwan
More informationCOSCO PACIFIC LIMITED Final Results. 9 April 2009
COSCO PACIFIC LIMITED 2008 Final Results 9 April 2009 Chairman s s statement Press conference_2009_0409 P. 2 Global economic downturn triggered by the financial tsunami in 4Q2008 yoy change 23.5% -5.7pp
More informationOperations Review. Europe Container Terminals ( ECT ), in the Netherlands, marks its 50 th anniversary. CK Hutchison Holdings Limited
Operations Review Europe Container Terminals ( ECT ), in the Netherlands, marks its 50 th anniversary. 16 CK Hutchison Holdings Limited Ports and Related Services The Bahamas The Netherlands United Kingdom
More informationTime to Take Off. Potential for Export Markets: THE FIRST IRAN BITUMEN / ASPHALT FORUM 2016
Potential for Export Markets: Time to Take Off THE FIRST IRAN BITUMEN / ASPHALT FORUM 2016 Iran in Transformation: Change, Challenge, Opportunity 29-30 August 2016 Tehran, Iran Outlook 1. Iran in The Global
More informationExpo 2020 Dubai and DP World partner to position the UAE at the heart of future global trade
Press release Expo 2020 Dubai and DP World partner to position the UAE at the heart of future global trade Partnership with global trade enabler DP World to help Expo 2020 promote a future of Mobility,
More informationGlobal Construction 2030 Expo EDIFICA 2017 Santiago Chile. 4-6 October 2017
Global Construction 2030 Expo EDIFICA 2017 Santiago Chile 4-6 October 2017 Graham Robinson Global Construction Perspectives Global Construction 2030 is the fourth in a series of global studies of the construction
More informationINVEST IN EXCLUSIVE DUBAI OFFICE SPACE. Assured tax-free income returns of up to 12% Assured buy back policy after 10 years at 120%
Assured tax-free income returns of up to 12% Assured buy back policy after 10 years at 120% No running costs or management fees Low-level entry investment INVEST IN EXCLUSIVE DUBAI OFFICE SPACE SME businesses
More informationOfficial name Also know as. Geography. Area Location. Neighbouring Emirates. Timezone UTC/GMT +4. Demographics
MOVING FORWARD Facts Profile Official name Also know as Sharjah The Cultural Capital and Industrial Hub of the UAE Geography H.H. Sheikh Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates
More informationRAS AL KHAIMAH IDEAL PLACE FOR BUSINESS & QUALITY LIVING
WELCOME TO RAKEZ 1 2 RAS AL KHAIMAH IDEAL PLACE FOR BUSINESS & QUALITY LIVING AREA POPULATION GDP COASTLINE AVG TEMP 2,478 KM 2 355,005* AED 36.3 BN* 64 KM 27 C *2016 estimates from RAK Centre for Statistics
More informationBrokerage and Capital Markets
Brokerage and Capital Markets The Dubai International Financial Centre (DIFC) is the financial hub for the Middle East, Africa and South Asia, providing a world-class platform connecting this region s
More informationProject ADC I TBILISI JULY 2018
Project ADC I TBILISI JULY 2018 GEORGIA - HIGH LEVEL DESCRIPTION Population (2018) GDP (2017*) 3.73 million US$ 15.2 billion GDP/Capita (PPP) (2017*) c.us $ 10,600 Real GDP Growth (2017*) + 5.0% Real GDP
More informationConnecting global markets
Connecting global markets Annual Report BUSINESs overview 02 Financial highlights 04 Chairman s statement 08 review 10 Case study: DP World Callao 12 Chief Executive s review 18 Board of Directors Corporate
More informationUK-Ghana Investment Forum 2010 Enhancing Economic Growth through Competitiveness, Diversification & Infrastructure Development
UK-Ghana Investment Forum 2010 Enhancing Economic Growth through Competitiveness, Diversification & Infrastructure Development Drapers Hall, London 8th July 2010 Outline Overview of Standard Bank Group
More informationOne belt one Route (OBOR) Initiative: Objectives, progress and future outlook. Marcus Meissner Managing Partner
One belt one Route (OBOR) Initiative: Objectives, progress and future outlook Marcus Meissner Managing Partner Agenda 1 CAMELOT Who we are? 2 Setting Stage for OBOR 3 Current Status of OBOR 4 Impacts on
More informationAEGIS GROUP PLC 2008 ANNUAL RESULTS. 19 March 2009
AEGIS GROUP PLC 2008 ANNUAL RESULTS 19 March 2009 AGENDA OVERVIEW OF RESULTS John Napier FINANCIAL REVIEW Alicja Lesniak OUTLOOK John Napier Q&A Aegis Group plc Page 2 OVERVIEW OF RESULTS John Napier,
More informationDubai Real Estate Predictions 2016
Real Estate Dubai Real Estate Predictions 2016 Following two years of significant capital and rental growth across much of Dubai s real estate market, 2015 marked a slowdown and a return to more stable
More informationNurturing Trade, Geared for Growth. Nurturing
Nurturing Trade, Geared for Growth 1 2 DP World, UAE Region His Highness Sheikh Mohammed bin Rashid Al Maktoum His Highness Sheikh Khalifa bin Zayed Al Nahyan His Highness Sheikh Hamdan bin Mohammed Al
More informationTHE NEXT BIG THING FOR TEXTILE AND APPAREL BUSINESSES
THE NEXT BIG THING FOR TEXTILE AND APPAREL BUSINESSES Capitalize on the brand-new 1.8 million square foot mall for the industry Textile Mall P.O. Box 17000 Dubai, UAE info@textilemall.ae textilemall.ae
More informationMEDITERRANEAN EXPANSION. Acquisition of U.N. Ro-Ro
MEDITERRANEAN EXPANSION Acquisition of U.N. Ro-Ro 12 April 2018 AGENDA Welcome 1 Key strategic rationale 2 Overview of U.N. Ro-Ro 3 Turkey macro perspectives 4 Financial highlights 5 Summary 6 Q&A 2 The
More informationPicture area. HSBC Commercial Banking. Citibank Investor Presentation. Alan Keir Group Managing Director and Global Head, Commercial Banking
Picture area HSBC Commercial Banking Citibank Investor Presentation Alan Keir Group Managing Director and Global Head, Commercial Banking March 2012 Forward-looking statements This presentation and subsequent
More informationFinancial Results for the First Nine Months of the Fiscal Year Ending March 31, 2018 [J-GAAP] (Consolidated)
Company Name: Stock exchange listed on: Financial Results for the First Nine Months of the Fiscal Year Ending March 31, 2018 [J-GAAP] (Consolidated) Kintetsu World Express, Inc. (KWE) Tokyo Stock Exchange
More informationDubai Financial Market PJSC a. Investor Presentation 9M
Dubai Financial Market PJSC a Investor Presentation 9M 2018 This Investor Presentation has been prepared by Dubai Financial Market PJSC ( DFM or the Company ) for investors, solely for informational purposes.
More informationDubai Islamic Bank. Shuaa Capital GCC Investor Conference, London 27 th - 28 th May 2009
Dubai Islamic Bank Shuaa Capital GCC Investor Conference, London 27 th - 28 th May 2009 Disclaimer The information provided in this presentation should not be used as a substitute for any form of advice.
More informationSaudi Arabia at a Glance
Invest Saudi Table of Contents Saudi Arabia at a Glance Saudi Arabia Economy Why Invest in Saudi? Key Incentives Available for Investors Strategic Sectors & Opportunities Investments We Value the Most
More informationAGENDA. Group presentation. Revenues and financing. Strategy and outlook. TOUAX and the Stock Market. Questions & answers
2011 Results AGENDA Part 1 Part 2 Part 3 Part 4 Part 5 Group presentation Revenues and financing Strategy and outlook TOUAX and the Stock Market Questions & answers Annual results 2011 2 HIGHLIGHTS 2011
More informationGuiding Your Success
Guiding Your Success UNITED ARAB EMIRATES Centrally Located at the Crossroads of East and West London 8hrs Paris 8hrs Berlin 8hrs Moscow 5hrs Astana 5hrs Beijing 9hrs Los Angeles 16hrs New York 13hrs Italy
More informationFinancial Results for the Fiscal Year Ended March 31, 2018 [J-GAAP]
Company Name: Stock exchange listed on: Financial Results for the Fiscal Year Ended March 31, 2018 [J-GAAP] Kintetsu World Express, Inc. (KWE) Tokyo Stock Exchange (First Section) May 11, 2018 Company
More informationINVESMENT OPPORTUNITIES A PERSPECTIVE FOR THE UNITED ARAB EMIRATES
INVESMENT OPPORTUNITIES A PERSPECTIVE FOR THE UNITED ARAB EMIRATES 1 UAE GDP 1973 2016 USD Billions 1 UAE GDP 2005 2016 Actual 2017 2019 - Forecast USD Billions 2 5 of 11 UNITED ARAB EMIRATES Formation
More informationFinancial Results for the First Six Months of the Fiscal Year Ending March 31, 2019 [J-GAAP] (Consolidated)
Company Name: Stock exchange listed on: Financial Results for the First Six Months of the Fiscal Year Ending March 31, 2019 [J-GAAP] (Consolidated) Kintetsu World Express, Inc. (KWE) Tokyo Stock Exchange
More informationG4S plc. Half Year Results 26 August 2010
G4S plc Half Year Results 26 August 2010 1 Nick Buckles Chief Executive Officer 2 Agenda Results Highlights Nick Buckles Financial Summary Trevor Dighton Business Review & Focus on Brazil Nick Buckles
More informationD A F Z A B U S I N E S S P R E S E N T A T I O N
D A F Z A B U S I N E S S P R E S E N T A T I O N W E L C O M E T O D U B A I T H E I D E A L H U B T O G R O W Y O U R B U S I N E S S W H Y D U B A I? W H Y D U B A I? L O C AT I O N + C O N N E C T
More informationHAMBURGER HAFEN UND LOGISTIK AG
HAMBURGER HAFEN UND LOGISTIK AG Analyst Conference Call on the Interim Results January to September 2017 Hamburg, 14 November 2017 Disclaimer The facts and information contained herein are as up to date
More informationKuehne + Nagel International AG. Analyst Conference Result 2009 March 1, 2010 Zurich, Switzerland
Kuehne + Nagel International AG Analyst Conference Result 2009 March 1, 2010 Zurich, Switzerland Agenda Welcome and Highlights 2009 Operating Review 2009 Financial Review 2009 Outlook 2010 Gerard van Kesteren
More informationHSBC Holdings plc Annual Results
HSBC Holdings plc Forward-looking statements This presentation and subsequent discussion may contain certain forward-looking statements with respect to the financial condition, results of operations and
More informationMarket dynamics impacting the demand and financing of port infrastructure and emerging alternative funding options
American Association of Port Authorities - Infrastructure Development and Financing Seminar San Diego, California Market dynamics impacting the demand and financing of port infrastructure and emerging
More informationHSBC Brazil 2011 update Presentation to Investors
Wednesday 09 November 2011 HSBC Brazil 2011 update Presentation to Investors Conrado Engel Alvaro Azevedo Chief Executive Officer HSBC Brazil Chief Financial Officer HSBC Brazil Forward-looking statements
More informationForeign Direct Investment and Ease of Doing Business: Before, During and After the Global Crisis
Foreign Direct Investment and Ease of Doing Business: Before, During and After the Global Crisis Nihal Bayraktar Pennsylvania State University Harrisburg June 27, 2011 Introduction FDI has been seen as
More informationFRANKLIN TEMPLETON INVESTMENTS. Franklin Resources, Inc. Bank of America Merrill Lynch Banking and Financial Services Conference November 18, 2010
Franklin Resources, Inc. Bank of America Merrill Lynch Banking and Financial Services Conference November 18, 2010 Forward-Looking Statements The financial results in this presentation are preliminary.
More informationGoldman Sachs BRICs Conference
Goldman Sachs BRICs Conference Markus Akermann CEO Bandra Worli Sea Link Mumbai Holcim Ltd 2010 Founded back in 1912 Holcim started its internationalisation more than 80 years ago 1953 1912 1925 1990 1955
More informationU M M A L QUWAI N FR E E T RA DE ZONE AUT HO RIT Y PO BOX 7072 U M M A L QUWAI N / UAE
U M M A L QUWAI N FR E E T RA DE ZONE AUT HO RIT Y PO BOX 7072 U M M A L QUWAI N / UAE TEL : +971(0)6 76 472 7 2 FAX: +971(0)6 76 4 9 7 8 2 W WW.UA QF T Z. CO M INFO@UAQF T Z. COM UA Q G OV E RN ME N T
More informationInvestor Presentation
Investor Presentation May 2013 48,000 employees 200 offices 70 countries 1 global platform Table of Contents I. Company Description II. Global Growth Strategy III. Financial Overview IV. Appendix 2 Company
More informationPartnering for Progress
DP World Pvt. Ltd Darabshaw House Level 1, Narottam Morarji Road, Ballard Estate Mumbai - 400 001 Partnering for Progress Tel: +91 (22) 226105070 DP World is one of the leading marine terminal operators
More informationInvest Abu Dhabi. United Arab Emirates. Middle East UAE. Abu Dhabi. Abu Dhabi. Ras Al Khaimah Umm Ul Quwain Ajman Sharjah Dubai Fujairah
Invest Abu Dhabi United Arab Emirates Saudi Arabia Yemen Arabian Gulf UAE Oman Saudi Arabia Arabian Gulf Abu Dhabi Ras Al Khaimah Umm Ul Quwain Ajman Sharjah Dubai Fujairah Oman Saudi Arabia Arabian Gulf
More informationCan Malaysia Create Better Returns for Global Investors? Dato Richard Azlan Abas Chief Executive Officer MALAYSIAN DIRECTORS ACADEMY (MINDA)
Can Malaysia Create Better Returns for Global Investors? Dato Richard Azlan Abas Chief Executive Officer MALAYSIAN DIRECTORS ACADEMY (MINDA) Can Malaysia Create Better Returns for Global Investors? Malaysia
More informationConnectivity matters for the G20
Connectivity matters for the G20 Sarp Kalkan 1 Economic Policy Research Foundation of Turkey The G20 leaders called for global action at the London summit (April 2009) by saying We face the greatest challenge
More informationFinancial Results for the First Three Months of the Fiscal Year Ending March 31, 2016 [J-GAAP] (Consolidated)
Company Name: Stock exchange listed on: Financial Results for the First Three Months of the Fiscal Year Ending March 31, 2016 [J-GAAP] (Consolidated) Kintetsu World Express, Inc. (KWE) Tokyo Stock Exchange
More informationFull Year Results 2014
Legal disclaimer Information in this presentation may involve guidance, expectations, beliefs, plans, intentions or strategies regarding the future. These forward-looking statements involve risks and uncertainties.
More informationEntrepreneurship Development Agency
Entrepreneurship Development Agency Marjanishvili str. 5/16-18, 0102 Tbilisi Tel: +995 32 2 99 10 44 Web: www.qartuli.ge; www.enterprise.gov.ge Mail: info@enterprise.gov.ge Growing Economy Georgia Snapshot
More informationFinancial Results for the First Nine Months of the Fiscal Year Ending March 31, 2017 [J-GAAP] (Consolidated)
Company Name: Stock exchange listed on: Financial Results for the First Nine Months of the Fiscal Year Ending March 31, 2017 [J-GAAP] (Consolidated) Kintetsu World Express, Inc. (KWE) Tokyo Stock Exchange
More informationYour Preferred Port-of-Call Financial Results Presentation for the Year Ended 31 December 2012
Your Preferred Port-of-Call 2012 Financial Results Presentation for the Year Ended 31 December 2012 Disclaimer This presentation should be read in conjunction with, and figures herein are based on, the
More informationSaudi Fransi Capital ANNUAL SAUDI EQUITIES DAY. 28 th November 2013
Saudi Fransi Capital ANNUAL SAUDI EQUITIES DAY 28 th November 2013 Disclaimer This presentation, its enclosures and appendices have been prepared by The National Shipping Company of Saudi Arabia (Bahri)
More informationQ Supplemental Information Quarter ended September 30
Q3 2015 Supplemental Information Quarter ended NYSE: BIP TSX: BIP.UN CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS 1 This Supplemental Information contains forward-looking information within
More informationDubai Financial Market Investor Presentation Q3,2015
Dubai Financial Market Investor Presentation Q3,2015 i CONTENTS MENASA Region : Macroeconomics.. 1 Dubai : Middle East s Financial Hub.. 5 UAE Capital Markets : DFM / ND / ADX. 10 Two Exchanges, One Market
More informationNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
1. Corporate information DP World PLC ( the Company ) formerly known as DP World Limited, was incorporated on 9 August 2006 as a Company Limited by Shares with the Registrar of Companies of the Dubai International
More informationPhillips Carbon Black Limited
Phillips Carbon Black Limited We Touch Lives Every Moment Investor Presentation February- 218 1 Part of a Dynamic Conglomerate. Carbon Black Industry Global Overview What is Carbon Black? Global CB demand
More informationStealthGas Inc Page 1
Page 1 Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of applicable federal securities laws. Such statements are based upon current expectations
More informationFinancial Results for the First Three Months of the Fiscal Year Ending March 31, 2018 [J-GAAP] (Consolidated)
Company Name: Stock exchange listed on: Financial Results for the First Three Months of the Fiscal Year Ending March 31, 2018 [J-GAAP] (Consolidated) Kintetsu World Express, Inc. (KWE) Tokyo Stock Exchange
More informationWorld s Best Investment Bank Awards 2018
Global Finance will publish its selections for the 19th Annual World s Best Investment Banks in the April 2018 issue. Winners will be honored at an awards ceremony in New York City in March, and all award
More informationHAMBURGER HAFEN UND LOGISTIK AG
HAMBURGER HAFEN UND LOGISTIK AG Analyst conference call on the half-year financial report 2018 Hamburg, 14 August 2018 Agenda Disclaimer Summary of major achievements Angela Titzrath, CEO Dr. Roland Lappin,
More informationSupplemental Information Earnings Call
Supplemental Information Earnings Call Fourth-Quarter 2015 Market volume & outlook JLL Research Investment volumes remain solid; outlook steady Market Volumes Actual Forecast Capital Markets (1) LC USD
More informationKepler Cheuvreux Autumn Conference. Paris, 18 September 2014
Kepler Cheuvreux Autumn Conference Paris, 18 September 2014 2014 first half highlights Berjaya Central Park (Kuala Lumpur) 2014 first half: a solid economic performance on a global scale Group revenue
More informationDOHA Sustainable BANK Performance
February 2018 1 DOHA Sustainable BANK Performance - AT A GLANCE BEST LOCAL BANK IN QATAR EMEA Finance BEST REGIONAL COMMERCIAL BANK The Banker Middle East MOST INNOVATIVE BANK IN MIDDLE EAST EMEA Finance
More informationEtisalat Group. BAML MENA & Frontier Markets Conference th November 2014, Dubai
Etisalat Group BAML MENA & Frontier Markets Conference 2014 20 th November 2014, Dubai Disclaimer Emirates Telecommunications Corporation and its subsidiaries ( Etisalat or the Company ) have prepared
More informationHAMBURGER HAFEN UND LOGISTIK AG ANALYST CONFERENCE ON ANNUAL RESULTS 2011
HAMBURGER HAFEN UND LOGISTIK AG ANALYST CONFERENCE ON ANNUAL RESULTS 2011 Hamburg, 30 March 2012 Hamburger Hafen und Logistik AG AGENDA Business Development 2011 Klaus-Dieter Peters CEO Annual Financial
More informationMINISTRY OF NATIONAL ECONOMY OF THE REPUBLIC OF KAZAKHSTAN INVESTMENT OPPORTUNITIES IN KAZAKHSTAN
MINISTRY OF NATIONAL ECONOMY OF THE REPUBLIC OF KAZAKHSTAN INVESTMENT OPPORTUNITIES IN KAZAKHSTAN London, 2014 Strategy Kazakhstan-2050 and Concept of entering top 30 most developed countries Kazakhstan
More informationFinancial Results CONFERENCE CALL Third Quarter Results. Cesena 14 th November2014. Ended 30 th September 2014
Financial Results 2014 Third Quarter Results Ended 30 th September 2014 CONFERENCE CALL Cesena 14 th November2014 1. TREVI Group 2. 9M 2014 Financial Results 3. Q&A 4. Appendix Rome (ITALY) Metro Line
More informationTHIRD QUARTER 2017 OCTOBER 2017
THIRD QUARTER 2017 OCTOBER 2017 DISCLAIMER Certain information contained in this document, other than historical information, may constitute forward-looking statements or unaudited financial forecasts.
More informationConsulate General of India Durban. Trade and Investment Opportunities in India. Focus Area : Medical Tourism
Consulate General of India Durban Trade and Investment Opportunities in India Focus Area : Medical Tourism Economy $2.45 trillion economy. Economic Growth: 7.9% (2015-16); 7.1% in (2016-17) Sectoral contribution
More informationCMA CGM TO ACQUIRE NOL, REINFORCING ITS POSITION IN GLOBAL SHIPPING
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.
More informationHAMBURGER HAFEN UND LOGISTIK AG INTERIM RESULTS JANUARY SEPTEMBER 2015
HAMBURGER HAFEN UND LOGISTIK AG INTERIM RESULTS JANUARY SEPTEMBER 2015 Analyst Conference Call, 12 November 2015 Hamburger Hafen und Logistik AG Disclaimer The facts and information contained herein are
More informationSavills plc. Results for the six months ended 30 June August 2018
Savills plc Results for the six months ended 30 June 2018 9 August 2018 Disclaimer: Forward-looking statements These slides contain certain forward-looking statements including the Group s financial condition,
More informationInvestor Relations Jay Bachmann Danièle Daouphars
Investor Document Investor Relations Jay Bachmann jay.bachmann@lafarge.com +33 1 44 34 93 71 Granulats et Béton - Afrique du Sud, stade Moses Mabhida Danièle Daouphars daniele.daouphars@lafarge.com +33
More information