Mærsk A/S Interim Report Q3 2015: USD 778m profit negatively impacted by the lower oil price and lower average container freight rates

  • The Maersk Group delivered an underlying profit of USD 662m in a 3rd quarter with deteriorating freight rates and lower oil price.
  • The Group expects an underlying result for 2015 of around USD 3.4bn, based on an underlying result in Maersk Line of around USD 1.6bn.
  • All business units delivered positive results, reflecting the continuous efforts taken to adjust to the changing market conditions.
  • Maersk Line has accelerated cost leadership and postponed previously announced plans for adding capacity due to lower growth in 2015.
  • A healthy balance sheet and competitive business units enable the Group to continue to pursue investments supporting growth ambitions.

COPENHAGEN, 9-11-2015 — /EuropaWire/ — The Group delivered a profit of USD 778m (USD 1.5bn) negatively impacted by the lower oil price and lower average container freight rates, down 51% and 19% respectively compared to the same period last year. The return on invested capital (ROIC) was 7.6% (12.7%).

The underlying profit was USD 662m (USD 1.3bn) with lower profits in Maersk Line, Maersk Oil and APM Terminals and improved result for Maersk Drilling while APM Shipping Services was on par with Q3 last year.

“The Maersk Group delivered an underlying profit of USD 662m in the third quarter. The decline of nearly 50 percent compared to last year was primarily due to container freight rates deteriorating to a historically low level, especially in the later part of Q3, and profits in Maersk Oil being impacted by the lower oil price. The expected underlying result of around USD 3.4bn for 2015 reflects good performance in very challenging oil and container shipping markets, where the continuous actions taken in all our business units to reduce the cost base will enable us to maintain our ability to pursue the opportunities arising in our industries,” says Group CEO Nils S. Andersen.

Contacts:
Head of Group Media Relations Louise Münter – tel. +45 3363 1912
Media Relations Specialist Lena Stennicke – tel. +45 3363 3456

SOURCE: THE MAERSK GROUP

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