A.P. Møller - Mærsk Reports Profit From Cont. Ops. In Q3; Revenue Down 0.9%
(RTTNews) - A.P. Møller - Mærsk A/S (AMKAF.PK, AMKBF.PK) reported third-quarter profit from continuing operations of $520 million compared to a loss of $173 million, last year. EBITDA increased by 14 percent to $1.7 billion, reflecting an EBITDA margin of 16.5 percent compared to 14.3 percent. Underlying profit for continuing operations after financial items and tax was $452 million compared to $188 million. The company noted that the financials are materially impacted by the implementation of IFRS 16.
Third-quarter revenue decreased by 0.9 percent to $10.1 billion, as the increase in Logistics & Services and Terminals & Towage with Ocean on par was offset by a decline in Manufacturing & Others.
For 2019, A.P. Moller - Maersk expects EBITDA in the range of $5.4-$5.8 billion from previously around $5.0 billion.
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