{"id":51142,"date":"2021-08-08T17:11:15","date_gmt":"2021-08-08T16:11:15","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=51142"},"modified":"2021-08-08T17:11:15","modified_gmt":"2021-08-08T16:11:15","slug":"maersk-declares-3-7b-profit-in-q2","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/maersk-declares-3-7b-profit-in-q2\/","title":{"rendered":"Maersk Declares $3.7b Profit In Q2"},"content":{"rendered":"

Danish shipping and logistics giant A.P. Moller \u2013 Maersk has continued to deliver strong growth and profitability with profit going up to $3.7 billion in the second quarter of 2021.<\/strong><\/p>\n

According to the company, Revenue was up almost 60% to $14.2 billion compared to the same quarter last year and EBIT amounted to $4.1 billion, which is up more than five times.<\/p>\n

With a net profit of $3.7 billion in the second quarter of 2021, the net result for the first half of 2021 went up to $6.5 billion, the company revealed in its financial report.<\/p>\n

\u201cThe results benefitted both from the exceptional circumstances in Ocean, where congestions and bottlenecks continued to drive up rates, and from solid progress in executing on our strategic transformation,\u201d\u00a0<\/em>S\u00f8ren Skou<\/strong>, CEO of A.P. Moller \u2013 Maersk commented.<\/p>\n

\u201cLooking at both the second quarter and the first half, I am pleased with the progress made and the high value generation, with a return on invested capital now at 23.7% for the past 12 months.\u201d<\/em><\/p>\n

The outlook for global market demand growth for the year has been revised up to 6-8 percent (about one percentage point), still mainly driven by American demand for Chinese goods.<\/p>\n

Accordingly, Maersk has raised its profit guidance upwards, it now expects full-year EBITDA in the range of $18-19.5 billion (about $5 billion more than previous guidance of $13-15 billion) and underlying EBIT expected in the range of $14-15.5 billion (previously $9-11 billion).<\/p>

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The outlook for the third quarter is strong, with the current momentum expected to mark the fourth quarter as well, Skou pointed out.<\/p>\n

Furthermore, the shipping major announced the\u00a0acquisitions of two E-commerce logistics companies Visible SCM and B2C Europe, as high earnings and cash flow enabled the firm to accelerate its transformation\u00a0strategy.<\/p>\n

Maersk both the two companies for a combined enterprise value of $924 million.<\/p>\n

\u201cThe acquisitions will provide Maersk with a strong growth platform in the rapidly evolving field of e-commerce, where our investments in digitalisation and integration will create significant synergies and make a big difference for customers\u2019 ability to sell across multiple channels effectively,\u201d said Maersk Ocean & Logistics CEO\u00a0Vincent Clerc.<\/p>\n

\u201cFurthermore, they will allow us to have a more comprehensive offering towards small and medium sized customers.\u201d<\/p>\n

Within e-commerce Logistics, Maersk is building an asset-light, global business focused on two core capabilities: B2C fulfilment and B2C delivery, the company concluded.-World Maritime News<\/p>\n","protected":false},"excerpt":{"rendered":"

Danish shipping and logistics giant A.P. Moller \u2013 Maersk has continued to deliver strong growth and profitability with profit going up to $3.7 billion in the second quarter of 2021.\u00a0<\/p>\n","protected":false},"author":6,"featured_media":51144,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[8917],"coauthors":[2391],"class_list":["post-51142","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-maersk"],"yoast_head":"\nMaersk Declares $3.7b Profit In Q2 - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/maersk-declares-3-7b-profit-in-q2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Maersk Declares $3.7b Profit In Q2 - National Wire\" \/>\n<meta property=\"og:description\" content=\"Danish shipping and logistics giant A.P. 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