- Shipping Giant Raises Lower End of Full-Year Profit Forecast.
- Ebitda Reaches US$2.69 Billion Against US$2.58 Billion Estimate.
- Full-Year Guidance Lifted to US$9–9.5 Billion Range.
Shipping powerhouse AP Moller-Maersk has reported a third-quarter operating profit that has pleasantly surprised the market, showcasing its resilience even amid a year-on-year decline. The company’s underlying earnings before interest, tax, depreciation, and amortisation (Ebitda) fell by 44 per cent to US$2.69 billion, which is slightly better than the US$2.58 billion analysts had anticipated in a company poll, reports Business Times.
Upgraded Full-Year Forecast
In light of this stronger-than-expected performance, Maersk has decided to raise the lower end of its full-year profit guidance. The group now projects Ebitda to be between US$9 billion and US$9.5 billion, an increase from the earlier forecast range of US$8 billion to US$9.5 billion.
CEO Highlights Strong Performance Amid Market Fluctuations
Maersk CEO Vincent Clerc expressed confidence in the company’s ability to navigate shifting market conditions.
“We have delivered a strong third quarter across our business,” Clerc said in a statement. “As market conditions fluctuate, we are well-positioned to help our customers adapt and maintain stability across their supply chains.”
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Source: Business Times
