Danish shipping major Maersk has raised its expectations for 2019 profit based on the financials for the third quarter and the updated outlook for freight rates, volumes and bunker fuel prices for the rest of the year.
The company said that its new expectation for earnings before interest, taxes, depreciation and amortisation (EBITDA) is in the range of USD 5.4 to 5.8 billion, up from the previous expectation for EBITDA of around USD 5 billion. The remaining part of the guidance is unchanged.
Despite slower global demand growth and lower freight rates in the third quarter of 2019, Maersk witnessed better than expected performance in Ocean driven by strong reliability and capacity management. This was combined with lower fuel prices and continued margin improvements in Terminal & Towage, which has resulted in stronger than expected financial performance in the quarter.
Revenue was USD 10,055 million during the third quarter, while EBITDA reached USD 1,656 million. For the first nine-months of the year, revenue stood at USD 29,222 million and EBITDA at USD 4,249 mill.
The company will detail its revised full year outlook at a later time.
Following the announcement, the company’s shares jumped by more than 7% on October 21.
丹麥航運龍頭馬士基(Maersk)基於看好第三季度的財務狀況以及第四季的運費,貨量,和船用燃料價格,提高了對2019年利潤的預期。
該公司表示,其對未計利息,稅,折舊和攤銷前利潤(EBITDA)的新期望在54到58億美元之間,高於先前對EBITDA的大約50億美元的期望。大概的其餘部分保持不變。
儘管2019年第三季度全球需求放緩且運費降低,但馬士基在強大的可靠性和容量管理的推動下,見證了遠洋表現優於預期的表現。再加上較低的燃油價格以及碼頭和拖船費的持續利潤改善,這導致該季度的財務業績強於預期。
第三季度收入為100.55億美元,而EBITDA達到16.56億美元。在今年的前九個月中,收入為292.22億美元,稅息折舊及攤銷前利潤為4,249美元。
該公司將在稍後時間詳細介紹其修訂後的全年展望。
公告發布後,該公司股價在10月21日上漲了7%以上。
Imformation source: World Maritime News Staff , Image Courtesy: Gcaptain