Maersk: stock in demand after targets raised

(CercleFinance.com) - The Maersk stock is up over 5% on the OMX on Wednesday morning, with the Danish shipping giant having announced that it now expects EBITDA of 6-7 billion dollars in 2020, compared to an initial forecast of around 5.
5 billion dollars.

Boosted by all its segments, group EBITDA rose by 25% to 1.7 billion dollars in the second quarter, slightly above its forecast of just over 1.5 billion dollars communicated in June, meaning a 4.8-point improvement in its margin to 18.9%.

However, at 9 billion dollars, Maersk's revenues declined by 6.5% due to a sharp drop in volumes reflecting the global Covid-19 pandemic and its effects on the economies of all continents.


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