Aug 04, 2023 / 09:00AM GMT
Vincent Clerc - Maersk, Inc. - Chief Commercial Officer & Member of Management Board
Good morning, everyone, and thank you all for joining us today as we present the second quarter of our 2023 results. My name is Vincent Clerc. I'm the CEO of A.P. Moller - Maersk, and I'm joined today by our CFO, Patrick Jany. I think we can slip also to the next slides.
All right. As we close the first half year of 2023, I am overall very pleased with the company performance in a very challenging market circumstance, achieving a group revenue of $13 billion this quarter and a robust EBIT margin of 12.4%. The volume and rate environment has developed as anticipated, with inventory destocking continuing to be the primary driver for lower volumes, which could be felt in the performance of all our segments.
A strong cost focus in Ocean and Terminal, in particular, cushioned the top line impact and supported our bottom line performance. In Logistics & Services, the impact of this normalization process was felt stronger than we had anticipated, resulting in growth below our expectations and higher
Q2 2023 AP Moeller - Maersk A/S Earnings Call Transcript
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