Will Maersk retain the level of 2019?
While preparing the ground in the running year with a profit warning for Q1/2020, Maersk has reported its results for the full-year 2019. Revenues went down moderately by 1.0% to USD 38.9 billion (USD 39.3 billion in 2018), the shift to profitable business caused a leap of 14.0% in ebitda results, which rose to USD 5.7 billion (USD 5.0 billion in 2018).
The shipping group attributed this improvement to a number of measures, including cargo selection, capacity management and bunker efficiency. The terminals segment reported a 3.9% volume growth, equal revenues as in 2018 and an ebitda margin improved by 3.2% to 28.0%.
The gross profit in logistics & services rose considerably (+8.9%) in 2019 due to an uptick in inland services, intermodal, warehouse and distribution and custom house brokerage. The organic volume growth in the line business is expected to be in line with or slightly lower than the estimated average market growth of 1.0%-3.0% for the full year 2020. (mw)