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22 October 2020 The on-line newspaper devoted to the world of transports 00:14 GMT+2

October 13, 2020

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Original news
Maersk Announces Better Third Quarter Results compared to expectations

Planned to cut about 2,000 jobs

The Danish shipowner group A.P. announced better third-quarter results this year compared to expectations, but at the same time announced that the expected changes to its Ocean and Logistics divisions, which have been communicated at the beginning of last month ( 1st September 2020), will result in the cut of about 2,000 jobs reduction in staff, however, much less substantial claimed by rumours gathered by media outlets ( 17 September 2020)

"A.P. Muller-Mursk," he said. the group's CEO, Skou - is on track to file a remarkable third quarter with earnings growth across all of our businesses, Ocean and Logistics & Services. Volumes - explained -- they got up faster than expected, our costs have remained absolutely under control, the have risen as a result of strong demand and we are increasing results of the Logistics and Services segments. For same reasons - he added - the outlook for the fourth quarter are good and, therefore, we are able to increase our expectations for the whole year."

Skou pointed out that, however, "the outlook for 2021 remain uncertain due to the ongoing pandemic. The impact positive stimulus measures, he noted, could be less intense in 2021, potential new lockdowns would impact demand and in 2021 there may be the effects of availability and effectiveness of a possible vaccine.'

The Danish group has announced that the expected total revenues for the third quarter of this year is 9.9 billion dollars (10.05 billion in the July-September period of 2019) and EBITDA before restructuring and integration costs will be 2.4 billion dollars. In addition, Maersk announced that volumes of containerized cargo transported by its fleet in the third quarter of this year they were down -3% About.

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