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AP MOLLER-MAERSK ENJOYS GOOD SECOND QUARTER EARNINGS

Thursday, August 15, 2019 

A.P. Moller Maersk has delivered a 17% increase in earnings before interest, tax, depreciation and amortisation (EBITDA) to US$1.4 bn in Q2 compared to the same quarter last year.

“Q2 was a quarter of solid progress. EBITDA was up 17% and cash flow improved 86% year on year, driven by continued recovery in Ocean,” said Søren Skou, CEO of A.P. Moller – Maersk.

During the first half of 2019, A. P. Moller – Maersk formed one sales organisation. Its focus is now on integrated customer experience and more products, thus improving the financial results across the business and accelerating the transformation.

“The transformation progressed further with an improved cash return on invested capital of 6.9% and synergies of US$1bn realised earlier than expected. Growth in revenue and gross profit in Logistics & Services still need to improve as we continue to build capabilities within logistics and services,” Skou said. “We reaffirm our guidance for 2019, while the macro environment continues to be subject to considerable uncertainties."

The guidance continues to be subject to considerable uncertainties due to the weaker macroeconomic conditions and other external factors impacting container freight rates, bunker prices and foreign exchange rates.

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