Icelandic container line Eimskip now expects a growing operating profit for the third quarter. The improvement comes after a weak growth in volumes, writes the company.
Photo: Eimskip
A slight growth in volumes improved earnings for Icelandic container line Eimskip in the third quarter.
The shipping line has yet to publish its full interim report, but it instead offers an update on select key numbers.
Here Eimskip says that it expects an operating profit, EBITDA, of EUR 21.5 to 22 million for the third quarter, compared with EUR 20.3 million in the same period last year.
The EBIT result is expected to reach EUR 10.1 to 10.6 million, against EUR 9.2 million in the third quarter last year.
“Volume in liner services increased marginally compared to same quarter last year following a decrease in the first two quarters of the year,” writes Eimskip in the update, adding that volumes in its reefer businesses fell in line with the level recorded last year.
Eimskip adds that the coronavirus pandemic continues to create uncertainty about the global economy.
English Edit: Daniel Logan Berg-Munch
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