Maersk reports revenue growth in 2020 despite pandemic

A.P.Moller – Maersk had a very promising 2020, both in terms of financial performance and the company’s transformation. Despite low volumes during most of 2020, profitability grew during the first nine months and 2020 ended with record fourth-quarter results in the Logistics and Terminals division, while Ocean delivered an exceptional quarter, driven by increased volumes and temporary supply chain disruptions.

“2020 will forever be remembered for the COVID-19 pandemic which negatively impacted our lives, jobs, businesses, and the global economy. I am proud to have accelerated our transformation and posted earnings growth during all quarters of 2020, despite the negative impact of the pandemic in the first half to a recovery in the fourth quarter, “said Søren Skou, CEO of AP Moller – Maersk.

Revenue grew to US$ 39.7 billion in 2020 from US$ 38.9 billion the previous year. The increase in demand in the second half of the year created barriers in the supply chain, such as shortages of ships and containers, which raised rates, contributing approximately US$ 1.5 billion to the results. Ocean has improved its performance by focusing on costs, agile capacity management, and the launch of new digital offerings.

The Logistics and Services area grew with revenues of US$ 7 billion, compared to US$ 6.3 billion the previous year, with the acquisition of the company Performance Team, which improved the company’s performance in intermodal logistics, air freight brokerage, and storage and distribution.

“Our customers want our help to build more resilient supply chains and to acquire more end-to-end services. As a result, our logistics business doubled in revenue in 2020. Today we are a profitable and growing logistics company with a wide offer of sea and air transport, port services, and logistical resources, which includes storage, personalized services and cutting-edge logistics “, concludes Skou.

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