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Editor in chief: Angelo Scorza
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03/09/18 10:32

Sales and acquisitions definitely 'rescue' Maersk group's half-term results

Growing turnover, fostered by Hamburg Sud and positive figures after Maersk Oil division's sale, which prevented the group from recording heavy losses

Hamburg Sud takeover, which fostered revenues, and subsidiary Maersk Oil transfer to Total group, helped Denmark-based AP Moller-Maersk recording positive figures in 2018 first semester.

Mid-year official report shows how the group recorded 2.8 billion dollars gain (encompassing continuing and discontinuing operations) versus 11 million loss recorded in 1Q 2017.

In essence, these specific transactions generated 3.1 billion dollars profit, mostly earned from the sale of subsidiary Maersk Oil to Total (meanwhile Maersk Supply Services and Maersk Drilling's  sale are being evaluated).

On the other hand, Maersk group's continuing operations would have recorded 305 million dollars net loss (114 millions in 2017), which, as reported by Dynamar on their latest Dynaliners weekly report – is not far from the same semester record-breaking figures, showed by Hyundai Merchant Marin,which in fact lost 375 million dollars (although being a far smaller company).

Even the group's EBITDA dropped by 9.3% , from 1.7 to 1.6 billion dollars.

Ocean business unit, embracing all services provided by Maersk Line, Hamburg Sud, Alianca, MCC Transport, Safmarine, Seago Line and SeaLand brands as well as all terminal operations handled by APM Terminal, was supported by the German liner: by joining the Danish group, revenues went up  to 13.7 billion dollars (+31% versus 10.49 billions in H1 2017), even though the EBITDA dropped from 1.3 to 1.1 billion dollars.

The positive trend also fostered trade volumes: during 2018 first semester – Dynamar said - Maersk shipped 13.24 million TEUs, recording 24.9% growth, provided by Hamburg Sud; on the other hand the increase would reached 4.3%.

Along the whole East–West routes, the increase reached 11.1%, while on the North–South link, where the German liner has been historically very strong, shipments grew by 26.2%.

The new synergies developed after Hamburg Sud's commitment, in terms of shared-takeovers and  network upgrade, APM Terminals' volume in 2018 first semester recorded 140 million dollars, however, the management of the Danish giant targets reaching 400 million dollars in 2019.

F.B.

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