AP Moller – Maersk increased EBITDA by 17 per cent to 1.4 bn in the second quarter, on revenue up slightly at $9.6bn.
The Ocean business continued to recover with enhanced unit cost, utilisation and reliability and revenue grew 2.9 per cent to $7.2bn. EBITDA in the Ocean business was up 25 per cent to $1.1bn on the back of the increases in volume and freight rates.
In Logistics & Services EBITDA grew to $61m in Q2 compared to USD 52m in the same quarter last year. Revenue was at USD 1.5bn, positively impacted by increased revenue in supply chain management, but offset by declining revenue from sea and air freight forwarding.
During the first half of 2019, AP Moller – Maersk formed one sales organisation to focus on giving customers an integrated experience.
Chief executive Søren Skou “The transformation progressed further with an improved cash return on invested capital of 6.9 per cent and synergies of USD 1bn realised earlier than expected. Growth in revenue and gross profit in Logistics & Services still need to improve as we continue to build capabilities within logistics and services.”