Maersk achieves USD 5.2bn profit highest result ever
Maersk A/S has published its Annual Report 2014, 25 February 2015. The Group delivered a strong financial performance with a profit of USD 5.2bn (USD 3.8bn).
In line with expectations, the underlying profit increased by 33% to USD 4.5bn compared to 2013 (USD 3.4bn) and the return on invested capital (ROIC) was 11.0% (8.2%).
The reported result was positively impacted by the USD 2.8bn gain from the sale of the majority share of Dansk Supermarked Group and other divestment gains of USD 600m (USD 145m) partly offset by the net impairments of USD 3.0bn (USD 220m), including USD 1.7bn on the Brazilian oil assets.
We are very satisfied with the result for 2014 where we achieved the highest ever profit of USD 5.2bn. Despite challenging market conditions we saw good progress in underlying performance across the Group. Maersk Line maintained its lead on the rest of the industry and APM Terminals delivered significant improvements. Maersk Drilling executed on fleet renewal programme according to plan, while Maersk Oil increased entitlement production in line with expectations. APM Shipping Services underlying result came in lower than expected, primarily due to the result in Damco. With our competitive businesses and healthy balance sheet the Group is well positioned to take advantage of opportunities materialising in a volatile macroeconomic environment. In the continuing efforts to focus our portfolio and share value creation with our shareholders, it has been decided to divest our Danske Bank shares,” says Group CEO Nils S. Andersen.
For more information please read the report by clicking on the image below:
Source and Image Credit: Maersk
