Interim Report for A.P. Møller - Mærsk A/S

Tuesday, August 29, 2006
A.P. Møller - Mærsk A/S recently released its 2006 Interim Report. The company’s half-year revenue is $29.9b, compared with $15.1b from 2005. Profit before depreciation, amortization, etc. is $4.4b compared with last year’s $3.6b. Profit before tax is $2.9b and profit for the period $1.2b. The half year is particularly affected by the following factors: Revenue, costs, depreciation, amortization and financial items are affected by the acquisition of P&O Nedlloyd and oil interests from Kerr-McGee, which are included as from August 11, 2005 and November 17, 2005 respectively; Maersk Line has not obtained a share of the general market growth during the first half year 2006; Rates for the container services were on average approximately 5 percent lower including bunkers adjustment factor compared to the first half year 2005; Highly increased costs for bunkers which are only partly compensated by bunkers adjustment factor; 38 percent higher crude oil prices compared to the first half year 2005; Highly increased government shares and taxes in the oil and gas activities; Changed depreciation periods with a positive effect on the profit for the period of approx. $360.8m; A dollar exchange rate which on average was 5 percent above that of the first half year in 2005 with positive effect on the revenue (in kroner) and the operating result for the period. As from January 1 to June 30, 2006 the dollar exchange rate has declined approximately 8 percent compared to the kroner with a negative effect for the Group’s equity. The total revenue for the A.P. Moller - Maersk Group is expected to be at the level of $46.4b. For the year 2006 the result for the group after tax is expected to be in the order of $2.7b compared to that in 2005 of $3.5b which is in accordance with the statement of June 27, 2006. Cash flow from operating activities is now expected to be in the order of $4.3b (2005: $5.7b) negatively affected partly by increased funds tied up in freight receivables. The expected result is still very sensitive to the changes in freight rates and volumes, especially in Maersk Line, and in oil prices and exchange rates.
Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Sri Lanka Port Project: China Merchants, CHEC Invest $601-M

Two of China's largest port operators and engineering firms have agreed to invest in a $601 million terminal in Sri Lanka's Hambantota port, part of a series of

Viking Supply Ships Sell PSV 'SBS Cirrus'

Rederi AB TransAtlantic subsidiary Viking Supply Ships says it has sold the 1985 built platform supply vessel SBS Cirrus. The vessel has been delivered to its new owners,

UK Chamber Stance Neutral on Scottish Independence

The UK Chamber of Shipping is taking a neutral position in the Scottish independence debate and has given both the Yes and Better Together sides space on its website

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1470 sec (7 req/sec)