DP WORLD has announced revenue of more than $20bn in 2024, up 9.7% on the $18.25bn achieved in 2023.

Stronger performance from the company’s ports and terminals was cited as the reason for the revenue increase, with per teu revenue up 13.9%. The Middle East and Americas were listed as particular strong regions for growth in the company’s financial results.

But the Dubai-based company reported profits of $1.48bn, down 2% on the $1.51bn posted in 2023. This decrease was attributed to higher finance costs.

Chairman Sultan Ahmed bin Sulayem said his company was “proud” to report $20bn-worth of revenue, which is a DP World record.

“These results demonstrate the benefits of our strategic focus on high-margin cargo, end-to-end integrated supply chain solutions and disciplined cost optimisation,” he said.

Bin Sulayem said that while 2025 had started on a positive note, “global trade remains in flux due to ongoing geopolitical challenges”.

“We remain confident in the strength of our portfolio, which we expect to continue delivering robust performance.

“As part of our long-term strategy, we continue to invest in our portfolio through targeted bolt-on acquisitions, expand into new locations and add high-value capabilities that align with our clients’ evolving needs.

“We maintain a positive medium-term outlook, supported by strong industry fundamentals and DP World’s ability to deliver sustainable, long-term returns.”

DP World said it invested $2.2bn across its portfolio in 2024 and hit its target of 100m teu of annual capacity in January 2025. It handled a record 88.3m teu in 2024.

The investment budget for 2025 has been set at about $2.5bn, the company said, with Jebel Ali, Jeddah and London Gateway, plus the new projects at Tuna Tekra, India and Ndayane, Senegal all earmarked for cash injections.