Growth momentum, acquisitions continue in this period
“We continue to build a higher quality Ocean business with more long-term contracts, a rapidly growing logistics business, and a value creating terminals business. To that effect we also announced the acquisitions of Visible SCM and B2C Europe which complements our existing supply chain offering and addresses our customers need for E-commerce logistics,”affirmed Søren Skou, CEO, AP Moller-Maersk.
Logistics & Services delivered 38 percent revenue growth to US$ 2.2bn in Q2 with more than half coming from the top Ocean customers. Demand was strong across all product families and consequently EBIT more than tripled to US$ 153mn compared to US$ 42mn in the same quarter last year, leading to an EBIT margin of 7.1 percent, the press statement continued.
“The outlook for Q3 is strong and we expect that the current momentum in Ocean will continue into Q4, also benefitting our Terminals business. Logistics & Services will continue its strong growth pattern for the rest of the year,” Søren Skou concluded.