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Bond Market News
DP World’s 2024 Profit Drops 29%
March 14, 2025
DP World (DPW) reported a drop of 28.9% YoY in its 2024 profit to $591mn. The company reported a 2% lower net profit for 2024 at $1.5bn, citing higher finance costs and uncertain outlook due to geopolitical risks and the changing global trade landscape. Revenue grew by 9.7% to $20bn. Capital expenditure stood at $2.2bn, versus $2.1bn in 2023. Group Chairman and CEO, Sultan Ahmed bin Sulayem, said that the company maintained a positive medium-term outlook, supported by strong industry fundamentals and will seek bolt-on acquisitions.
DPW’s dollar bonds were trading marginally weaker by 0.2 points, with its 3.75% 2030s at 94.6, yielding 5%.
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