Analysts believe results and outlook in the final quarter report of Maersk (Feb. 9) might be weighed down by consolidation effects from the Hamburg Sud deal and the market situation in China.
Morgan Stanley says integration expenses related to the deal would limit profitability contribution in 2018 and that Maersk Line will return to peak EBIT margins in 2020.
Jyske Bank, which keeps rating "sell" for the company, sees a potential threat to Maersk Line Q4 volumes and EBITDA from significant cuts in China's import of waste materials. According to Jyske, the situation in China may also affect the company's outlook for 2018
Brokerage SEB takes a more optimistic stance on the Danish shipping group as it expects a better supply/demand balance in 2018-19. Separately, J.P. Morgan sees H1 2018 freight rate environment "highly volatile", while considering FY19 to look attractive. According to a Reuters poll of analysts, EBITDA in Q4 is supposed to rise 48 pct YoY.
Reporting by Boleslaw Lasocki