Maersk’s quarterly profit fell threefold – Kommersant
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The world’s largest sea freight carrier is the Danish company Maersk reportedthat in the second quarter its earnings before taxes, interest, depreciation and amortization (EBITDA) amounted to $ 2.9 billion, which is 3.5 times less than a year earlier.
The total revenue reached $13 billion, which is 40% less than a year earlier. The company said it had to face difficult conditions and changing market conditions. In 2022, against the background of the pandemic and the explosive growth of sea freight, Maersk received record profit.
At the beginning of this year, the Danish company warned that its performance is likely to decline. Today, the company noted that global demand for container shipping will decline this year, due, among other things, to complex geopolitical relations and macroeconomic uncertainty.
However, despite a sharp decline in second-quarter earnings, Maersk managed to beat analysts’ forecasts, interviewed Refinitiv, they expected second-quarter EBITDA of $2.4 billion. After the publication of financial statements, Maersk shares rose 1%.
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