A.P. Moller - Maersk improves Q2 underlying profit
The underlying profit in Q2 improved from $134m to $389m with Maersk Line contributing with an underlying profit of $327m.
As a result of post-tax impairments of $732m related to Maersk Tankers and APM Terminals, the reported result was a loss of $264m.
The performance of A.P. Moller - Maersk in Q2 was mainly driven by a profitable Maersk Line due to continued recovery in the container market and focus on restoration of profitability.
Full-year guidance is reiterated for 2017, despite an expected negative financial impact of $200–300m in Q3 from the recent cyber-attack.
Transport & Logistics reported a consolidated revenue of $7.7bn, which was an increase of 15% compared to same quarter last year, and an underlying profit of $442m which was improved significantly, in large part driven by higher container freight rates.
Energy delivered an underlying profit of $182m in Q2, with Maersk Oil as the main contributor.
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