In a recent report by Italian newspaper Il Messagero, the privately-held Mediterranean Shipping Company (MSC) achieved an astounding annual net profit of EUR 36.3 billion (USD 38.2 billion) in 2022. This significant financial milestone comes in the wake of MSC’s successful bid for a 50% stake in Italian railway Italo – Nuovo Trasporto Viaggiatori, commonly known as ‘Italo.’
MSC, renowned as the largest container carrier globally and a family-owned enterprise, reportedly recorded total revenues of EUR 86.4 billion ($91.1 billion) during the same year, resulting in impressive operating profits (EBIT) of EUR 35.7 billion. It’s important to note that these figures encompass all of MSC’s activities, spanning shipping, ports, logistics, cruise, rail, and air cargo sectors.
If verified, these financial achievements place MSC firmly ahead of its closest competitor, the Maersk Group, which reported revenue of USD 81.5 billion in 2022, along with a net profit of USD 29.3 billion and an operating profit of USD 30.9 billion. Additionally, MSC appears to maintain a considerably higher cash reserve, totaling EUR 63 billion, although Maersk’s cash position may be partially influenced by its substantial share buyback program.
Il Messagero’s report also revealed that MSC has a medium to long-term net debt of EUR 26 billion, coupled with equity of EUR 91 billion. MSC, founded by 83-year-old Gianluigi Aponte in 1970, remains under full ownership by the Aponte family.
Sources: Il Messagero, Alphaliner, MSC