Ocean money for logistics investment
For A.P. Moller - Maersk (Maersk), Q3/2022 turned out to be just as bountiful as expected. Compared to the previous quarter, turnover rose by 37% and ebitda even increased by a whopping 60%. CEO Søren Skou spoke of the "16th consecutive quarter of year-on-year profit growth".
In absolute terms, turnover in the third quarter rose to USD 22.8 billion, ebitda to USD 10.9 billion and ebit to USD 9.5 billion. Profit was USD 8.9 billion in the third quarter and USD 24.2 billion in the first nine months.
Maersk is investing heavily in the expansion of its logistics & services division. The takeover of LF Logistics has been completed, the acquisition of Martin Bencher Group is pending and 21 additional warehouses in Latin America, Europe and India have been added to the company’s warehouse, distribution and cold storage space.
Logistics revenue crossed the USD 4 billion threshold for the first time, growing 60% to USD 4.2 billion, while the division's ebit was a fairly modest USD 258 million. The company has lowered its forecast for global container demand growth in 2022 to a decline of between -2 to -4%. (sh)