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19 June 2021 The on-line newspaper devoted to the world of transports 05:25 GMT+2

November 18, 2020

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The marked gap between revenues and costs allows Maersk to record brilliant quarterly financial performance

In the period July-September, the volumes of containerised containers carried by the fleet decreased by -3.6%

In the third quarter of this year, the common trend in recorded by the major shipping companies containerised worldwide, similar to that of the previous quarter also characterized by the impact of the coronavirus pandemic on the economy, was also covered by the Danish group A.P. Møller-Mærsk, who is, moreover, the leader of the of this market. A trend characterized by a reduction in revenues much less marked than the sharp fall in costs Operating.

In the period July-September 2020, the group totalled revenues of $9.92 billion, with a decrease in the -1.4% on the same quarter last year. EBITDA and EBIT increased by +38.7% and +74.9% respectively, reaching to $2.30 billion and $1.29 billion. Net profit is $947 million (+82.1%).

The Ocean division alone, which includes the containerised maritime transport that form the core of the group's business, reported revenues of 7.12 billion (-4.1%), of which $6.14 billion comes directly from from the activity of the company's container fleet (-2,3%). Operating expenses, whose revenue gap has been significantly accentuated in the third quarter of this year, are amounted to $5.32 billion (-13.3%), of which $2.11 billion generated by the handling of containers (-6.6%), 1.63 billion from the expenses for the management of the network (-9.5%), 869 million overheads, administrative and sales authorities (+4.1%), 759 million expenses for the purchase of fuel (-34.1%) and 133 million of the cost of and other charges (-48.8%). The gross operating margin is result of $1.80 billion (+39.5%).

In the third quarter of this year, the carrier fleet of the group carried load volumes equal to a total of 3.28 million containers of 40' (feu), with a contraction of -3.6% in the same period of 2019, of which 1.55 million transported on east-west routes (-0.5%), 1.01 million on routes north-south (-9.6%) and 719 million feu on intra-regional routes (-1,0%). The average rental per 40-foot container transported is result of $1,909/feu (+4.4%), with an average rental of $1,995/feu for East-West Services (+14.3%), of $2,382 north-south services (+2.8%) and 1,227 intra-regional line services (-6.6%). With regard to the growth of the noles, the Maersk Group has specified that the rise was also generated by a temporary increase in short-term noles due to a sudden recovery in demand for certain sea routes.

In the first nine months of 2020, the group's revenues were equal to a total of $28.48 billion, with a reduction in the -2.5% over the corresponding period of 2019. EBITDA was $5.51 billion (+29.8%), operating profit of $2.59 billion billion (+87.4%) and net profit of $1.60 billion, with an increase of +9,305.9% compared to $17 million in january-september 2019.

In the first nine months of this year, the Ocean division alone revenues of $20.92 billion (-3.3%), of which 17.75 billion produced by the activity of the fleet of ships carriers (-3.8%). Operating expenses amounted to 16.84 billion dollars (-8.0%), of which 6.09 billion from the container handling activities (-10.7%), 4.89 billion in expenses for the management of the maritime network (-8.3%), 2.92 billion in expenses for the purchase of the bunker (-16.6%), 1.95 billion general, administrative and sales expenses (-2.3%) and 995 million other costs (+49.0%). EBITDA amounted to 4.34 billion (+31.0%).

In the first nine months of 2020, the fleet transported containers for a total of 9.23 million feu (-7.7%). The average rental for container transported was $1,930/feu (+4.3%). During the period, the consumption of bunkers by the fleet 7.49 million tonnes (-10.0%) and the average cost of fuel for transported loads was 390 dollar/tonne (-5.3%).

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