APMM Q3 2023 Financial Results
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Financial review
Financial highlights of Q3 2023
Solid results in absolute terms with continuing erosion of rates,
stronger volumes and cost measures
Q3 EBITDA decreased to USD 1.9bn, generating a margin of 15.5%,
while EBIT decreased to USD 0.5bn reflecting a margin of 4.4%
⚫ Net profit after tax for the third quarter of 2023 was USD 0.6bn
compared to Q3 2022 (USD 8.9bn) and Q2 2023 (USD 1.5bn)
Free cash flow of USD -0.1bn, driven by lower profitability
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Cash returns to shareholders amounted to USD 763m during the
quarter through share buy-backs and USD 13.2bn in the first nine
months of 2023
Total cash & deposits of USD 21.9bn with a net cash position of
USD 6.8bn at the end of Q3
Restructuring costs increased to USD 350m³, expected to lead to
total cost savings of around USD 600m in 2024
1) USD 450 million impairment and restructuring charges (thereof USD 150 million restructuring) announced in February 2023
2,500 positions to leave in 2023, rest to expand in to 2024. The majority of the increase in restructuring cost is expected to impact 2023
Revenue
12.1bn
(-46.7%)
EBIT
0.5bn
(-94.3%)
ROIC, LTM
17.7%
(-48.9ppts)
Q3 2023, USD
EBITDA
1.9bn
(-82.4%)
Free cash flow
-0.1bn
(-)
NIBD
-6.8bn
(unchanged)
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APMM Q3 2023 Financial Results
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