DP World H1 profit falls 39% as vessel traffic slows at Dubai’s Jebel Ali

The port remained fully operational with no physical damage, but the conflict temporarily reduced vessel traffic.

United Arab Emirates’ (UAE) DP World reported profit for the period of $585m in the first half (H1) of 2026, a 39.1% year-on-year (YoY) decline from $960m, as disruption to trade flows in the Middle East temporarily reduced vessel traffic at Jebel Ali.

Revenue rose 13.1% YoY to $12.7b from $11.2b, supported by growth across Logistics, Marine Services, and the company’s international Ports and Terminals portfolio.

Adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) fell 5.6% to $2.86b from $3.03b, whilst the adjusted EBITDA margin declined to 22.5% from 27%. EBIT fell 16.5% to $1.59b.

Gross container throughput fell 5.7% to 42.83 million twenty-foot equivalent units. Excluding Jebel Ali Port, throughput increased 5.4% on a reported basis and 6.5% on a like-for-like basis.

Revenue excluding Jebel Ali rose 18.5%, whilst adjusted EBITDA increased 9.7%. Growth came from Africa, Asia Pacific, Europe, and the Americas.

DP World said Jebel Ali remained fully operational with no physical damage, but the conflict temporarily reduced vessel traffic into the port. The company implemented mitigation measures across its regional network, including expanded inland connectivity, to support cargo movements.

Cash generated from operating activities stood at $2.0b, whilst total liquidity was $8.2b, comprising $5.5b of cash and $2.7b of undrawn committed borrowing facilities.

Leverage on a pre-IFRS 16 basis stood at 3.7 times, compared with 3.4 times at FY2025, within the group’s financial policy of below four times.

DP World invested $1.5b across its portfolio during H1 2026 and expects capital expenditure of about $3b for the full year.

Major investments are planned across the UAE, UK, Democratic Republic of Congo, India, Saudi Arabia, Drydocks World, and Maritime Solutions.

The company also plans to develop two terminals in Fujairah under a 50-year concession as part of its UAE gateway network.

Essa Kazim, Group Chairman of DP World, said the company remained confident in the medium- to long-term outlook for global trade, supported by its portfolio, capital allocation, and integrated trade platform.