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In Q3 2017, the revenue of A.P. Møller-Maersk A/S’ continuing operations increased by 14 per cent year-on-year driven by higher freight rates in Maersk Line. The underlying profit was $ 248 million, with an improvement of $ 290 million in transport and logistics and a decline of $ 15 million in energy.
For A.P. Møller-Maersk A/S, the third quarter of the year was a defining quarter of major change, where strong and viable solutions were found for Maersk Oil and Maersk Tankers. Furthermore, it announced on Tuesday that the Salling Companies will acquire the remaining 19 per cent shares in the Dansk Supermarked Group. A.P. Møller-Maersk A/S now expects a positive underlying profit (loss of $ 546 million).
Transport and logistics now expects an underlying profit of around $ 1 billion and an improvement in Maersk Line of around $ 1 billion compared to 2016 (loss of $ 384 million).
“I am pleased with the agreements reached in Q3 for Total S.A. to acquire Maersk Olie og Gas A/S and A.P. Møller Holding to acquire Maersk Tankers A/S, which indicates a solid progress in the separation of the energy businesses. Whilst solutions for Maersk Drilling and Maersk Supply Service remain to be defined before the end of 2018, the future Maersk will leverage even further its position of strength within transport and logistics,” says Mr Søren Skou, CEO of A.P. Møller-Maersk A/S.
Transport and logistics reported a revenue growth of 14 per cent to $ 8 billion. Performance was challenged due to the June cyber attack, of which the financial impact was in the range of $ 250-300 million. The cyber attack primarily impacted July and August and the vast majority of the impact was related to Maersk Line, that reported an underlying profit of $ 211 million and a positive ROIC of 4.3 per cent.
“The revenue increased in transport and logistics by 14 per cent and was mainly driven by higher revenue in Maersk Line. Market fundamentals stayed positive with global container volume growth at 5 per cent in the third quarter compared to the same period last year and an increase in nominal supply of 3 per cent. However, contingency initiatives related to recovery after the cyber attack resulted in a negative development in Maersk Line volumes of 2.5 per cent and increase in unit cost of 3.9 per cent at fixed bunker prices,” says Mr Skou.
Transport and logistics continues to develop new digital services for customers, offering better and simpler products across the supply chain. In September, Maersk Line launched the Remote Container Management, which provides customers shipping refrigerated cargo with an unprecedented understanding of their supply chain
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