Daily Management Review

Moller-Maersk receives $ 84 million net loss in 2019


Net loss of the Danish sea container carrier A.P. Moller-Maersk A/S amounted to $ 84 million in 2019, against a net profit of $ 2.98 billion a year ago, follows from the financial statements of the company.

Revenue over the reporting period decreased by 1%, to $38.89 billion. EBITDA increased by 14% to $ 5.712 billion.

In the fourth quarter, the net loss was $ 72 million, compared with a profit of $ 32 million a year earlier. At the same time, revenue decreased by 5.5% to $ 9.668 billion. Analysts had expected the figure at $ 9.94 billion. EBITDA rose 1% to $ 1.463 billion.

The company noted the significant uncertainty of its prospects and goals for the current year due to the outbreak of coronavirus in China, "which significantly reduced the understanding of what to expect in 2020."

"Since factories in China have been closed longer than usual due to the lunar New Year, and as a result of COVID-19, we expect a weak start to the year," the company said.

Maersk was founded in 1904 in the Danish city of Svendborg. It works in 130 countries and employs about 88 thousand people.

source: reuters.com