Notes increased demand in the fourth quarter

AP MOeller-Maersk AS announced that it saw increased demand in the fourth quarter, while fares increased due to problems throughout the supply chain, including a shortage of ships and containers.

As a result, the first quarter of 2021 is expected to be stronger than the fourth quarter of 2020.

The Danish shipbuilder posted a net profit of $ 1.3 billion for the quarter, up from a loss of $ 72 million a year ago, compared with analysts’ expectations of $ 1.39 billion.

Revenue rose 16 percent to $ 11.26 billion, while $ 10.91 billion was expected.

Maersk, which is considered a barometer for world trade, reported that transport volumes increased by 3.2% and the average fare increased by 18%, while fuel costs fell by 14% on an annual basis.

The company expects underlying EBITDA in 2021 to be $ 8.5-10.5 billion from $ 8.3 billion in 2020, while cash flows are expected to be higher than $ 3.5 billion compared to $ 4.2 billion in 2020.


Source: Zougla.gr by www.zougla.gr.

*The article has been translated based on the content of Zougla.gr by www.zougla.gr. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!

*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.

*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!