The Maersk Group delivered a satisfactory profit of $1.1 billion in Q2, which was, however, negatively impacted by the lower oil price and lower average container freight rates.
The return on invested capital (Roic) was 10.2%, with decreases being seen in Maersk Line, Maersk Oil and APM Terminals and increases for Maersk Drilling and APM Shipping Services compared with last year’s results.
The group points out that despite a reduction in profits compared to 2014, it expects profits of about $4 billion for the year.
“We reiterate our strategic direction of targeting profitable growth with top-quartile performance and a Roic above 10% over the cycle in all business units,” says Maersk.
The turbulence in the oil price has had a negative influence in the oil and offshore markets, as well as in countries dependent on oil.
This has changed the outlook for Maersk Oil, Maersk Drilling, APM Terminals and APM Shipping Services, says Group CEO Nils Smedegaard Andersen, adding that previously announced profit and growth targets will be replaced by plans adapting to the volatile environment.
The balance sheet remains strong and the board has decided to launch a buy-back programme aiming at $1 billion, he concludes.
Satisfactory results despite challenging environment
Comments | 0
© Now Media. This content is protected by copyright and may not be adapted or republished. If you would like to discuss cooperation opportunities, please contact: editor@freightnews.co.za.
