The marked revenue-to-cost gap again allows Maersk to record brilliant quarterly financial performance

In the period July-September 2020, the group totalled revenues of $9.92 billion, with a decrease in the -1.4% on the same quarter last year. EBITDA and EBIT increased by +38.7% and +74.9% respectively, reaching to $2.30 billion and $1.29 billion. Net profit is $947 million (+82.1%).

The Ocean division alone, which includes the containerised maritime transport that form the core of the group's business, reported revenues of 7.12 billion (-4.1%), of which $6.14 billion comes directly from from the activity of the company's container fleet (-2,3%). Operating expenses, whose revenue gap has been significantly accentuated in the third quarter of this year, are amounted to $5.32 billion (-13.3%), of which $2.11 billion generated by the handling of containers (-6.6%), 1.63 billion from the expenses for the management of the network (-9.5%), 869 million overheads, administrative and sales authorities (+4.1%), 759 million expenses for the purchase of fuel (-34.1%) and 133 million of the cost of and other charges (-48.8%). The gross operating margin is result of $1.80 billion (+39.5%).

In the third quarter of this year, the carrier fleet of the group carried load volumes equal to a total of 3.28 million containers of 40' (feu), with a contraction of -3.6% in the same period of 2019, of which 1.55 million transported on east-west routes (-0.5%), 1.01 million on routes north-south (-9.6%) and 719 million feu on intra-regional routes (-1,0%). The average rental per 40-foot container transported is result of $1,909/feu (+4.4%), with an average rental of $1,995/feu for East-West Services (+14.3%), of $2,382 north-south services (+2.8%) and 1,227 intra-regional line services (-6.6%). With regard to the growth of the noles, the Maersk Group has specified that the rise was also generated by a temporary increase in short-term noles due to a sudden recovery in demand for certain sea routes.

In the first nine months of 2020, the group's revenues were equal to a total of $28.48 billion, with a reduction in the -2.5% over the corresponding period of 2019. EBITDA was $5.51 billion (+29.8%), operating profit of $2.59 billion billion (+87.4%) and net profit of $1.60 billion, with an increase of +9,305.9% compared to $17 million in january-september 2019.

In the first nine months of this year, the Ocean division alone revenues of $20.92 billion (-3.3%), of which 17.75 billion produced by the activity of the fleet of ships carriers (-3.8%). Operating expenses amounted to 16.84 billion dollars (-8.0%), of which 6.09 billion from the container handling activities (-10.7%), 4.89 billion in expenses for the management of the maritime network (-8.3%), 2.92 billion in expenses for the purchase of the bunker (-16.6%), 1.95 billion general, administrative and sales expenses (-2.3%) and 995 million other costs (+49.0%). EBITDA amounted to 4.34 billion (+31.0%).

In the first nine months of 2020, the fleet transported containers for a total of 9.23 million feu (-7.7%). The average rental for container transported was $1,930/feu (+4.3%). During the period, the consumption of bunkers by the fleet 7.49 million tonnes (-10.0%) and the average cost of fuel for transported loads was 390 dollar/tonne (-5.3%).