The firm reported a 25% rise in second-quarter EBITDA (earnings before interest, tax, depreciation and amortization) to $1.7 billion, outstripping the $1.575 billion expected by analysts.
Despite being negatively impacted by a "sharp fall in volumes" from the second quarter, with earnings falling 6.5% from the exact same period last year since the international economy was brought to a standstill from the coronavirus pandemic, Maersk upped its full-year advice on Wednesday.
The fall in earnings was attributed to a decrease of 16% in the company's Ocean branch and 14% in gateway terminals, which Maersk said was "partially offset by increased freight rates and increased earnings per move in Terminals."
Maersk shares gained 5.4percent in early European trade.
"As a result of the lock-downs, closed borders and travel restrictions around the globe, we experienced significant problems in relieving our seafarers if their contracts expired, a persistent problem of serious concern to people, which we are proactively addressing," CEO Søren Skou stated in the earnings report.
Cash return on invested capital (CROIC) increased by 3.6 percentage points to 12.5%, and Skou stated the earnings report and balance sheet indicated that Maesk was "well positioned to financially and strategically come out stronger of this catastrophe ."
