A.P.Moller-Maersk Group reports historically big loss
04-03-2010
10:12
CEO Nils Smedegaard Andersen today presented the weakest result for A.P.Moller-Maersk in the company’s 106 years’ history.
The 2009 result for the total Maersk Group was a loss of DKK 5.5 billion after a profit of just under DKK 17 billion in 2008.
According to the news agency Direkt the loss was in line with the company’s estimates but bigger than the analysts’ expectations of a loss of DKK 4.6 billion.
»The loss is significant, but 2009 was an extraordinary year with historically low rates and low demand. We managed to limit the loss by saving around USD 2 billion and we will continue to strengthen our competitiveness even further,« said Group CEO Nils Smedegaard Andersen.
The negative result is reflected in the payment of dividend to the shareholders. The total dividend payment will amount to DKK 1.429 billion compared to DKK 2.857 billion in 2008.
Net revenue was in 2009 DKK 260.1 billion compared to DKK 311.8 billion in 2008. The profit before depreciation, amortisation and impairment losses amounted to DKK 30.3 billion compared to DKK 26.1 billion in 2008.
It was in particular the container business which affected the annual result negatively. The revenue in the container business fell to DKK 110.5 billion from DKK 146.0 billion in 2008.
The freight rates for the group’s container vessels were 28 per cent lower than in 2008, resulting in a negative segment result of USD 2.1 billion for container activities.
Tanker rates were also substantially lower than in 2008. The average price of crude oil was 36 per cent lower in 2009 than in 2008, while the group’s share of oil and gas production was at the same level as in 2008.
The 2009 result for the total Maersk Group was a loss of DKK 5.5 billion after a profit of just under DKK 17 billion in 2008.
According to the news agency Direkt the loss was in line with the company’s estimates but bigger than the analysts’ expectations of a loss of DKK 4.6 billion.
»The loss is significant, but 2009 was an extraordinary year with historically low rates and low demand. We managed to limit the loss by saving around USD 2 billion and we will continue to strengthen our competitiveness even further,« said Group CEO Nils Smedegaard Andersen.
The negative result is reflected in the payment of dividend to the shareholders. The total dividend payment will amount to DKK 1.429 billion compared to DKK 2.857 billion in 2008.
Net revenue was in 2009 DKK 260.1 billion compared to DKK 311.8 billion in 2008. The profit before depreciation, amortisation and impairment losses amounted to DKK 30.3 billion compared to DKK 26.1 billion in 2008.
It was in particular the container business which affected the annual result negatively. The revenue in the container business fell to DKK 110.5 billion from DKK 146.0 billion in 2008.
The freight rates for the group’s container vessels were 28 per cent lower than in 2008, resulting in a negative segment result of USD 2.1 billion for container activities.
Tanker rates were also substantially lower than in 2008. The average price of crude oil was 36 per cent lower in 2009 than in 2008, while the group’s share of oil and gas production was at the same level as in 2008.
*****||*****A.P.Moller-Maersk Group reports historically big loss*****||*****CEO Nils Smedegaard Andersen today presented the weakest result for A.P.Moller-Maersk in the company’s 106 years’ history.
The 2009 result for the total Maersk Group was a loss of DKK 5.5 billion after a profit of just under DKK 17 billion in 2008.
According to the news agency Direkt the loss was in line with the company’s estimates but bigger than the analysts’ expectations of a loss of DKK 4.6 billion.
»The loss is significant, but 2009 was an extraordinary year with historically low rates and low demand. We managed to limit the loss by saving around USD 2 billion and we will continue to strengthen our competitiveness even further,« said Group CEO Nils Smedegaard Andersen.
The negative result is reflected in the payment of dividend to the shareholders. The total dividend payment will amount to DKK 1.429 billion compared to DKK 2.857 billion in 2008.*****||*****
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