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A.P. Moller - Maersk, an integrated logistics company, reported higher-than-expected Q2 2023 results due to market normalization. Despite lower volumes and rates, revenue was $13.0bn compared to $21.7bn in Q2 2022, with a strong profitability of 12.4%. Maersk raised its financial outlook, expecting underlying EBITDA of $9.5-11.0bn and underlying EBIT of $3.5-5.0bn for 2023. However, lower demand and inventory correction have impacted Ocean revenue and logistics services, and the inventory correction is expected to continue until the end of the year. Maersk is aiming to achieve net zero emissions by 2040.
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