COPENHAGEN (dpa-AFX) - Danish container logistics company A.P. Moller - Maersk A/S (AMKAF.PK, AMKBF.PK) reported Wednesday that its fourth-quarter net income group share was $1.30 billion, compared to loss of $72 million last year.
Underlying profit was $1.36 billion, compared to $29 million profit last year.
Profit before tax surged to $1.32 billion from $130 million a year ago.
EBITDA increased 85 percent to $2.7 billion, with growth in all three segments. EBITDA margin increased to 24.1 percent from prior year's 15.1 percent.
Revenue increased 16 percent to $11.3 billion from $9.7 billion a year ago, mainly driven by an increase in Ocean and in Logistics & Services.
Looking ahead, the company said the guidance for 2021 is impacted by the continuation of the COVID-19 pandemic and the impact on demand patterns.
Given the current exceptional situation where demand surge has led to bottlenecks in supply chains and equipment shortage, the first quarter of 2021 is expected to be stronger than the fourth quarter of 2020.
Søren Skou, Chief Executive Officer, said, 'Our continued progress makes us confident that we will continue to grow the earnings of the company as the economic situation normalises in 2021 and beyond.'
Copyright RTT News/dpa-AFX