Maersk launches $1.6bn share buyback and lifts guidance
The world’s biggest container shipping company has been less damaged by the pandemic than once feared
18 November 2020 - 17:00
Copenhagen — AP Møller-Maersk has launched a $1.6bn share buyback programme, as the world’s biggest container shipping company says the Covid-19 crisis has so far dented its business less than feared.
Copenhagen-based Maersk, which, late on Tuesday, raised its guidance for a second time since October, reported a 39% increase in earnings before interest, taxes, depreciation, and amortisation (ebitda) to $2.3bn in the third quarter. Profit by that measure, before restructuring and integration costs, will reach $8bn to $8.5bn this year, it said. Previous guidance was for $7.5bn to $8bn...
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