Maersk trusts the market
A.P. Moller – Maersk has tabled its 2017 results. The conglomerate made USD 356 million in underlying profit for its continuing operations, a change of 172% when compared with its 2016 loss. The transport and logistics business contributed USD 1 billion - "in line with guidance", as the group put it.
Revenue grew by 13% to around USD 30.9 billion, and the group drove up its ebitda to USD 3.5 billion (2016: USD 2.5 billion). The 11.4% ebitda margin (2016: 9.1%) reflects the group’s increased profitability after its weak 2016.
While CEO Soren Skou expressed confidence in the growing global transport and logistics market, Jim Hagemann Snabe, chairman of A.P. Møller - Mærsk, insisted that: "Future growth will be based on organic growth in the individual transport and logistics businesses, combined with targeted acquisitions.”
As a point of interest, Hamburg Süd was acquired by the Danish giant in December 2017. (cd)