logo
Plus   Neg
Share
Email

A.P. Møller - Mærsk FY17 Loss Narrows; Sees Higher Underlying Profit In 2018

A.P. Møller - Mærsk A/S (AMKAF.PK,AMKBF.PK) reported that its loss for fiscal year 2017 narrowed to $1.21 billion or $58 per share from $1.94 billion or $93 per share in the prior year.

The underlying profit of $356 million, compared to loss of $496 million in the prior year. The result was positively impacted by an improvement in Maersk Line excluding Hamburg Süd of $905 million compared to 2016, in the low end of the latest guidance, which stated an improvement of around US$1 billion.

Revenue for the year grew to $30.95 billion from last year's $27.27 billion.

For 2018, A.P. Moller - Maersk expects an underlying profit above last year's $356 million, and earnings before interests, tax, depreciation and amortisation or EBITDA in the range of $4.0 billion-$5.0 billion, compared to $3.5 billion reported in the previous year.

A.P. Moller - Maersk believes, that within the next 3-5 years, it should be as easy to ship a container across the world as it is today for consumers to send a parcel.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Bahrain's foreign minister has called for a boycott of Uber after the ride-hailing company's Chief Executive Officer Dara Khosrowshahi said he will not attend an investment conference in Bahrain's ally, Saudi Arabia. Khosrowshahi is among several business leaders who have said they are pulling out of the three-day investment conference slated to take place in Saudi Arabia beginning October 23. Porsche, the sports car maker owned by Volkswagen AG, has denied speculation that it plans to pursue an initial public offering or IPO. Porsche Chief Financial Officer Lutz Meschke said on Friday that Porsche was discussing a potential listing of a group combining Porsche, Bentley, Lamborghini and Bugatti, with a potential value of up to 70 billion euros. Bank of America (BAC) reported that its third-quarter earnings per share was up 43% year-over-year to $0.66. On average, 24 analysts polled by Thomson Reuters expected the company to report profit per share of $0.62 for the quarter. Analysts' estimates typically exclude special items. Net income to shareholders...
Follow RTT