DP World and ICTSI show strongest revenue growth in 2023
Dubai-based DP World consolidated its position as the largest global container port operator by revenue in 2023, logging year-on-year growth of 5%.
DPW, and the rapidly growing Philippines-based port group ICTSI, were the only players to show clear revenue expansion among the group of eight global port companies with annual sales above $1bn.
DP World generated $6.4bn in revenue in 2023 for its Ports and Terminals division, up 5.1% YoY. Adjusted EBITDA was up 4.7% at $3.3bn.
The operator has adopted a strategy of targeting high-margin cargos, while expanding in gateway ports in emerging markets.
After some lacklustre years, the group’s flagship port of Dubai-Jebel Ali has again flourished post-COVID, recently moving back into the top 10 list.
Source: Alphaliner
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