Maersk delivers improved profitability despite lower volumes

Despite significant falls in volumes due to the impact of the COVID-19 pandemic, Maersk managed to improve profitability across all its business segments during Q2 2020, via capacity deployment adjustments and cost mitigation initiatives.

Revenue decreased by 6.5% to US$9bn, driven by a volume decrease of 16% in ocean and 14% in gateway terminals.

However, earnings before interest, tax, depreciation and amortisation (EBITDA) improved to US$1.7bn, which is higher than expectations had been in June of a figure slightly above US$1.5bn.