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Revenue rise for Maersk in Q3

Logistics giant reports on "growth across the business" for the third quarter of the year

Revenue rise for Maersk in Q3

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AP Møller-Maersk has reported on its results for the third quarter of the year, with revenue across the business climning 31 per cent to US$10.1bn, or 12 per cent excluding Hamburg Süd.

According to the company, the non-ocean sector saw revenues rise 15 per cent, contributing to 31 per cent of total revenue for Maersk, while volumes in ocean grew 27 per cent.

Underlying third-quarter profit fell to US$251m from US$254m in the same period of 2017, while EBITDA grew 16 per cent despite bunker price soaring 47 per cent.

“Well into our transformation, we are progressing with the integration of our business to better serve customers and unlock the full growth potential within Logistics & Services," said Søren Skou, CEO of AP Møller-Maersk. "As a result, I am pleased to see revenue growth in Q3 across the business, including supply chain services.

"Our profitability and cash flow is improving, positively impacted by the emergency bunker surcharge announced due to the significant increase in bunker price, synergies from Hamburg Süd and strong collaboration between Ocean and our
terminal activities," he added.

Looking ahead, the group said that it expects an EBITDA in the range of US$3.6bn-4bn from the previously forecast US$3.5bn-4.2bn, and it reiterated its expectations of a positive underlying profit.

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