Maersk had a financially strong start to the year with Q1 showing increased earning.
- Operating earnings increased by 23% year-on-year.
- Cash return on invested capital increased by 3.5 percentage points to 10.5%.
- The strong results were made during a quarter with sharp fuel cost increases derived from the industry’s switch to low-sulphur fuel and a contraction in global trade due to lockdowns in most regions.
- Earnings before interest, tax, depreciation and amortisation (EBITDA) improved 23% to $1.5bn compared to year ago.
- Revenue increased slightly to $9.6bn, despite lower volumes and mainly driven by ocean freight.
- Ocean freignt EBITDA increased 25% to $1.2bn in Q1 2020.
