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Maersk reports strong improvements in earnings

Aug 20, 2019
AP Moller – Maersk has confirmed an increase in EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) of 17% during the second quarter of 2019 compared with the same period last year.
Revenue grew slightly to USD 9.6bn, which is on par with last year, and the underlying profit increased to USD 134m from USD 15m in Q2 2018. Søren Skou, CEO of AP Moller – Maersk said that the improvement resulted from a continued recovery in the company’s ocean business.

During the first half of 2019, AP Moller – Maersk formed one sales organisation. Its focus is now on giving customers an integrated experience and offering them even more products, thus improving the financial results across the business and accelerating the
transformation. 

The latest example of a digital innovation to improve customer experience is Maersk Spot,
which simplifies the buying process and offers increased visibility and reliability by enabling
customers to search and get competitive rates online, while ensuring cargo gets on board
the selected vessel. TradeLens, the blockchain platform developed together with IBM, also
progressed with several new commitments from carriers and port authorities during the
quarter. 

The company said that the remainder of the year will 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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