Maersk Posts Record Profit
November 2, 2022
reported earnings before interest, tax, depreciation and amortization (EBITDA)
of $10.9 billion for the quarter. The result was higher than the $9.8 billion
expectation and was up 60% from last year.
of A.P. Møller - Mærsk A/S, Søren Skou, states: “Our third quarter result was
another record and the 16th quarter in a row with year-on-year earnings growth.
Ocean freight rates, which have driven the exceptional results we have delivered
in 2022, were again up both year-on-year and compared to the second quarter.
However, it is clear that freight rates have peaked and started to normalize
during the quarter, driven by both decreasing demand and easing of supply chain
congestion. As anticipated all year, earnings in Ocean will be come down in the
coming periods. Our overall transformation momentum remained very strong as we
continue to grow our Logistics business rapidly. For the first time, revenue in
Logistics exceeded USD 4bn in one quarter, and we expect to continue to outgrow
the market in Logistics based on new customer wins.