Maersk’s quarterly revenue fell by 26% – Kommersant

The world’s largest sea freight operator Danish company APMoller-Maersk reported on first-quarter revenue of $14.2 billion, down 26% from the same reporting period in 2022. Earnings before taxes, interest, depreciation and amortization (EBITDA) also fell from $9.1 billion to $4 billion, while EBIT fell from $7.3 billion to $2.3 billion.

Maersk expected such a drop at the beginning of the year, when last year’s results were published. Then the results were record – EBITDA grew by 53% and amounted to $ 36.8 billion. However, the company called 2023 the year “with complex macroeconomic forecasts and new types of uncertainty for our clients.” Difficult forecasts and uncertainty resulted in a drop in demand for container shipping and the number of containers loaded on Maersk ships in the first quarter fell by 9%, while freight rates fell by an average of 37%.

Nevertheless, Maersk has not changed its forecasts for its key indicators for the whole of 2023: EBITDA is expected to be at the level of $8-11 billion, EBIT – $2-5 billion. will show dynamics in the range from -2.5% to 0.5%.

Alena Miklashevskaya