Daily Management Review

Maersk profit plunges to $17 mln in January-September


11/15/2019


Net profit of Danish company A. P. Moller-Maersk A/S (Maersk) totalled $17 mln in January-September against $3.15 bln in January-September 2018, according to the company's financial statements.



Bernard Spragg via flickr
Bernard Spragg via flickr
Revenue increased by 0.6% to $29.222bn, EBITDA - by 1.6% to $4.249bn. Including the net profit in the III quarter increased by 31% in annual terms to $520 mln. Revenue declined by 1% to $10.055 bln. EBITDA increased by 1.5 times to $1.656 bln.

The company expects EBITDA to be $5.4-5.8 bln in 2019 compared to the previous forecast of $5 bln.

The Ocean Container Division's EBITDA amounted to $1.268 bln (+12.6% year-on-year) in the third quarter.

Terminals & Towage's EBITDA increased 23% to $313 million, while Logistics & Services' EBITDA increased 34% to $94 million.

In the world there is an imbalance of demand and supply for linear transportations, the majority of operators bear losses, however continue to build a new fleet. The situation is aggravated by the introduction of restrictions on the content of sulfur in marine fuel since 2020, which will lead to an increase in fuel surcharges.

Founded in 1904 in Svenborg, Denmark, Maersk operates in 130 countries and employs 88,000 people.

source: nasdaq.com






Science & Technology

Live Facial Recognition Cameras Will Be Used By London Police

Driverless Vehicle For Its Ride-Sharing Service Unveiled By GM’s Cruise

Amazon will allow customers to pay with palms instead of cards

Complete Computer System For Self Driving Cars Launched By Qualcomm

In A Lifetime We Could Accumulate 20Kg Micro-Plastic In Our Body

Creator Of The First 'Gene-Edited' Babies Of The World Gets 3 Year Jail Term In China

China to deploy giant Beidou global navigation system in 2020

VW Zwickau factory is getting ready for electric cars production

Airbus: Passenger hybrid aircraft to take off before 2035

Ocado To Introduce ‘Mini Robotic Warehouse’ With Standard Productivity

World Politics

World & Politics

French tour operators will stop sending tourists to China until February 21

US Will Not Give Visas To Pregnant Women To Prevent Organized 'Birth Tourism'

Heads of the European Council and European Commission sign Brexit agreement

UK adds Greenpeace, PETA to extremist organizations list

Indonesia, UAE sign nearly $23B deal

US to respond to Iran’s attacks on US bases in Iraq

Irish Passport issues hit record in anticipation of Brexit

Reporters Without Borders calls to release Julian Assange