A.P. Møller – Mærsk A/S upgrades the outlook for 2014
Maersk Line made USD 1 billion profit in the first six months of 2014; profit increase with APM Terminals and growing loss with Damco
Maersk Line made a profit of USD 1.0bn (2013: USD 643m) and a ROIC of 9.9% (6.2%) in the first half of 2014. The improvement in the financial performance was achieved through higher volume, lower costs mainly driven by vessel network and bunker efficiencies. Rvenue was USD 13.36 bn (USD 12.96 bn). The volume increased by 6.9% to 4,639 FFE and the average freight rate was 2.2% lower. Cash flow from operating activities was USD 1.6bn (USD 1.6bn) and cash flow used for capital expenditure was USD 856m (USD 790m) leaving a free cash flow of USD 727m (USD 762m), A.P. Møller – Mærsk A/S announced on 19 August.
APM Terminals made a profit of USD 438m (USD 345m) and a ROIC of 14.1% (12.4%). Volumes increased by 8% to 19.2m TEU supported by volumes from terminals becoming fully operational and the new terminals. Damco made a loss of USD 42m (loss of USD 2m) in the reporting period.
The Group CEO, Nils Smedegaard Andersen, states: „The Group achieved a very satisfactory result for first half of 2014 with underlying profit increasing 42% to USD 2.4bn, mainly driven by Maersk Line, APM Terminals and Maersk Oil. As result of the good progress in delivering on our Group priorities and the solid financial performance across the Group, which has been achieved in challenging markets, we upgrade the outlook for the Group result to be around USD 4.5bn for 2014. Due to the current strong financial situation, the Board has decided to buy back shares of USD 1bn within the coming 12 months.“
www.maerskline.com/
Quelle: LogEastics
Portal: www.logistik-express.com
