Maersk improved profitability across its business and delivered strong cash flow despite the impact of the COVID-19 pandemic, growing EBITDA by 39% to US$2.3bn in the third quarter.
Although revenue dropped by 1.4% to US$9.9bn, the improvement in performance was based on stringent cost control, capacity management, a focus on customer offerings with greater uptake of digital services and some benefit from a recovery in demand compared to Q2.
Søren Skou, CEO of A.P. Moller – Maersk, said: “Despite COVID-19 negatively affecting activities in most of our businesses, our disciplined execution of the strategy led to solid earnings and cash flow growth in Q3.
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