Danish carrier Maersk has hiked its 2023 guidance to an underlying EBITDA of $9.5-11 billion (earlier estimate of $8-11 billion) and underlying EBIT of $3.5-5 billion (previously $2-5 billion) despite a weakened second half market outlook.

Revenue declined 40% to $13 billion compared to $21.7 billion in Q2 2022. Profit before financial items (EBIT) declined 82% to $1.6 billion compared to $9 billion in the same period last year. Profitability was strong at 12.4%, although significantly lower compared to the extraordinarily strong Q22022.

Cost focus will continue to play a central role in dealing with a subdued market outlook that we expect to continue until the end year. While we step this agenda further up, we are unwavering in our transformation and continue to invest in and deliver truly integrated logistics solutions to our customers: Vincent Clerc, Maersk

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