A.P. Moller – Maersk

A.P. Moller – Maersk reports robust Q2 financial results in difficult market conditions

Source: MAERSK A.P. Moller – Maersk (Maersk) reports a second quarter of 2023 ahead of expectations, while the ongoing market normalisation continued through the quarter leading to lower volumes and lower rates. Revenue stood at USD 13.0bn compared to USD 21.7bn in Q2 2022 while profitability was strong at 12.4% although significantly lower compared to the extraordinarily strong Q2 2022. Reflecting the strong first half performance, Maersk raises its financial outlook and now expects underlying EBITDA of USD 9.5 – 11.0bn (previously USD 8.0 – 11.0bn), underlying EBIT of USD 3.5 – 5.0bn (previously USD 2.0 – 5.0bn) despite a weakened second half market outlook. The Q2 result contributed to a strong first half of the year, where we responded to sharp changes in market conditions prompted by destocking and subdued growth environment following the pandemic fuelled years. Our decisive actions on cost containment together with our contract portfolio cushioned some of the effects of this market normalisation. Cost focus will continue to play a central role in dealing with a subdued market outlook that we expect to continue until end year. While we step this agenda further up, we are unwavering in our transformation and continue to invest in

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A.P. Moller – Maersk to open doors to a new 100,000 sq. ft warehouse at Chattogram, Bangladesh

The three-storied facility is expected to go live by December 2022 and will help in addressing the warehousing capacity crunch faced by exporters out of Chattogram, Bangladesh. Maersk’s total warehousing footprint in Bangladesh will cross 300,000 sq. ft. with this new facility. Source: Maersk A.P. Moller – Maersk (Maersk), the integrated logistics company, is expanding its warehousing footprint in Bangladesh with a brand new 100,000 sq. ft. facility being built in Chattogram. The upcoming facility is strategically located close to the Chattogram Port and easily connected to the Dhaka-Chattogram Highway through the Outer Ring Road and Karnaphuly Tunnel, giving easy access to Bangladesh’s garment exporters based out of the nearby manufacturing hubs. Bangladesh is witnessing impressive growth in garments exports. However, the warehousing footprint in Chattogram has not increased proportionally. “The last two to three years have been extremely challenging for Bangladesh’s exporters. The Covid-19 pandemic caused many disruptions in the supply chains. The acute imbalance in demand and supply of goods, bottlenecks in the logistics ecosystem, displaced workforce and congestion at ports and warehouses led to unforeseen challenges in Bangladesh”, said Angshuman Mustafi, Head of Maersk, Bangladesh. He added, “However, the pandemic also presented us with the opportunity to

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