A.P. Møller – Mærsk Q2 Net Income Rises

A.P. Møller – Mærsk A/S (AMKAF.PK,AMKBF.PK) said its quarterly financial results continue to be strong, with record-high revenue, EBITDA and EBIT for second quarter across the Ocean, Logistics & Services, and Terminals & Towage segments. The results benefitted both from the exceptional circumstances in Ocean and from progress in executing on the strategic transformation. The company expects third quarter earnings to exceed the level for second quarter, 2021.

“The outlook for the third quarter is strong and we expect that the current momentum in Ocean will continue into the fourth quarter, also benefitting our Terminals business. Logistics & Services will continue its strong growth pattern for the rest of the year,” CEO Søren Skou stated.

For the second-quarter, A.P. Møller – Mærsk A/S’ share of net income was $3.71 billion compared to $427 million, last year. EBIT was $4.1 billion, up more than five times. Underlying profit was $3.73 billion compared to $359 million, a year ago. Revenue increased almost 60% to $14.2 billion, mainly due to an increase in Ocean of $4.5 billion.

As previously announced, the company has upgraded its guidance for 2021 to an underlying EBITDA of $18.0 billion to $19.5 billion, and an EBIT of $14.0 billion to $15.5 billion.

A.P. Møller – Mærsk also announced the acquisition of both Visible Supply Chain Management and B2C Europe. The company said these two companies will further accelerate its Logistics growth particularly in e-commerce by adding technology and last mile delivery capabilities for customers in the U.S. and Europe.

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