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24 September 2020 The on-line newspaper devoted to the world of transports 17:10 GMT+2

August 19, 2020

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Original news
Economic performance is far from contemptable Maersk Group quarterly

In the April-June period, containerized load volumes fleets decreased by -15.8%

Today came a confirmation of the validity of the initial assumptions made by analysing the economic results by the world's leading containerized shipping companies in the second quarter of this year, during which many world economies, to a greater or lesser extent, have been affected impact of the Covid-19 pandemic. The assumption is that, instead of having a serious negative impact on their quarterly budgets as happened to most companies in other sectors, containerized shipping companies and their shareholders have even benefited from the effects of the crisis health care system.

Further well-founded proof comes from the latest performance Maersk Line, the world's leading fleet transport capacity. The script is followed by other global containerized carriers have already disclosed the results recorded in the second 2020 quarter: a decline in both container volumes transported from the fleet to revenues despite the rise in even more pronounced decrease in the cost of production from which a positive value of the results is achieved generally higher than those of the second half of the year. 2019.

At the group level, Denmark's A.P. Muller-Mursk closed the April-June period of this year with revenues of 9.00 billions of dollars, with a decrease of -6.5% on the second 2019. EBITDA and EBIT recorded increases 25.1% and 80.5%, respectively, to 1.70 billion dollars and 751 million dollars. Net income amounted to 443 million dollars , or 189.5%.

The group's only Ocean division, focused on the activities Maersk Line, reported revenues of 6.57 billion dollar, with a contraction of -8.7% generated by the reduction in -10.4% of the turnover produced by freight transport, which is 5.58 billion, partially offset by the growth in the 2.2% of the revenue generated by other businesses totaled 968 million dollars. The decline in revenues resulted in a -15.8% reduction in load volumes containers carried by the fleet that were found to be equal to 2.9 million 40' (feu) containers, partially offset by the growth of 4.5% of the average rental per container 1,915 dollars/feu. Overall, production costs fell by -15.9% to 5.16 billion dollars, of which 1.92 billion generated (-16.9%), 1.53 billion from the network maritime services operated by the group (-12.4%), 766 million fuel costs (-36.7%), 630 million dollars in general, administrative and sales expenses (-9.6%) and 310 million dollars in costs of goods sold and other charges 84.5%). Gross operating margin in the second quarter of 2020 Ocean division was up 26.0% amounted to 1.36 billion dollars.

Of the 2.9 million feu containers transported by the group's record-holder in the second quarter of this year, 1.4 millions of feu were transported on the east-west routes (-14.9%) with a relative average rental that was 1,879 dollars/feu (up 8.2%), 849 thousand feu on north-south routes (-18.6%) With an average rental of USD 2,449/feu (up 5.2%) and 619 thousand feu on routes intra-regional (-13.5%) with an average rental of 1,292 dollars/feu (-6,5%). At the end of the second quarter of this year, the capacity of the Danish group's container fleet was 3.88 million 20' (teu) containers compared to 4.12 million teu per 30 June 2020, of which 2.19 million group-owned vessels (2.21 million as of June 30, 2019) 1.69 million rental ship capacity (1.92 million millions).

In the second quarter of this year, the business segment logistics and services operated by the Danish group recorded revenues of USD 1.57 billion (-0.6%) ebitda of 97 million dollars (up 110.9%), while terminals and towings operated by the group totaled revenues of 878 million dollars (-9.6%) EBITDA of 237 million dollars (up 3.0%).

Regarding the outlook for the coming months, the Danish group specified that it plans to archive the full year 2020 with an EBITDA of between 6.0 and 7.0 billion dollars, EBITDA of 5.71 billion in the annual budget The group has made it clear that the outlook is weighing on the outlook. uncertainties related to the evolution of the Covid-19 pandemic consider a second phase of strict lockdown of activities to contain the counters.

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