BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - A.P. Moller - Maersk (AMKAF.PK, AMKBF.PK) said, in the third quarter, it once again set new records in the financial performance across Ocean, Logistics & Services and Terminals. Underlying EBIT margin was 35.2% in the third quarter compared to 14.0%, a year ago.
Looking forward, the company confirmed its guidance for the full year. The company noted that current trading conditions are still subject to a higher-than-normal uncertainty due to the temporary nature of current demand patterns, disruptions in the supply chains. As a result, the company estimates first quarter EBITDA in line with fourth quarter of 2021. The Board has decided to extend the current share buy-back programme by an additional $5 billion over the years 2024 and 2025.
Third quarter underlying profit increased to $5.45 billion from $1.04 billion, prior year. Underlying EBIT increased to $5.84 billion from $1.39 billion. A.P. Møller - Mærsk A/S' share of net profit increased to $5.44 billion from $927 million.
Third quarter revenue increased 68 percent to $16.6 billion. In Ocean, revenue almost doubled to $13.1 billion from $7.1 billion.
The company reiterated its full year guidance with an underlying EBITDA in the range of $22 - $23 billion, an underlying EBIT in the range of $18 - 19 billion, and a free cash flow of minimum $14.5 billion.
Copyright RTT News/dpa-AFX