Maersk Lower Profit Forecast Cuz Uncertainties

A.P. Møller – Mærsk A/S has downgraded its profit guidance for 2018 amid growing uncertainties on the market impacting container freight rates including geopolitical risks, high bunker prices and trade tensions.
As a result, Maersk forecasts that its EBITDA will be in the range of USD 3.5-4.2 billion and that the group will post a positive underlying profit for 2018.
The previous expectation for EBITDA was in the range of USD 4.0-5.0bn and an underlying profit above USD 356 million, as reported in 2017.
The remaining part of the guidance is unchanged.
”We delivered good progress in Q2 on revenue, volumes and unit cost across our business, and results improved from a weak Q1. Spot freight rates have restored after a significant drop in Q2, and volumes are growing in line with market. However, we continue to encounter very high bunker prices, which we have not been able to get fully compensated for in freight rates, leading to an adjustment in our expectations for the full-year 2018,” Maersk’s CEO Søren Skou said.
Danish transport and logistics major said that the group’s revenue was USD 9.5 billion in the second quarter of 2018 and EBITDA stood at USD 0.9 billion. For the first half of the year, the revenue came at USD 18.8 billion and the group’s EBITDA reached USD 1.6 billion.
EBITDA for the second quarter in Maersk’s Ocean division came at USD 0.7 billion, which the conglomerate ascribed to improved unit cost. As disclosed, the cost was down both in total and at fixed bunker by more than 5 percent compared to the first quarter of the year.
However, Maersk said that its profitability was negatively impacted by an average bunker price increase of 28 pct compared to the same period last year while average freight rates were 1.2 pct lower.
This is the second quarterly report from the business conglomerate in a new financial reporting structure. The structure features four new business segments Ocean, Logistics & Services, Terminals & Towage and Manufacturing & Others, which are aligned with the strategic focus on growing the non-ocean part of the business disproportionally to the ocean.
 
APMøller – Mærsk A/S已下調其2018年的盈利預期,因市場不確定性影響集裝箱運價,包括地緣政治風險,高燃油價格和貿易緊張局勢。
因此,馬士基預測其EBITDA將在35-42億美元的範圍內,該集團將在2018年發布正的潛在利潤。
根據2017年的報告,先前對EBITDA的預期為40-50億美元,基本利潤超過3.56億美元。
其餘部分的方向保持不變。
“我們在第二季度在業務收入,銷量和單位成本方面取得了良好進展,而且第一季度業績有所改善。在第二季度大幅下降後,現貨運價已經恢復,且交易量與市場一致。然而,我們繼續遇到非常高的燃油價格,我們未能完全補償運費,導致我們對2018年全年的預期調整,“馬士基首席執行官SørenSkou說。
丹麥運輸和物流專業表示,該集團2018年第二季度的收入為95億美元,EBITDA為9億美元。今年上半年,收入達到188億美元,集團的EBITDA達到16億美元。
馬士基海運部門第二季度的EBITDA為7億美元,該集團因此提高了單位成本。如所披露的那樣,與第一季度相比,總成本和固定燃料的成本均下降了5%以上。
然而,馬士基表示其盈利能力受到與去年同期相比28%的平均燃油價格上漲的負面影響,而平均運費則下降1.2%。
這是該業務集團在新的財務報告組織中的第二季度報告。該組織包括四個新的業務部門:海洋,物流和服務,碼頭和拖船以及製造及其他,這些都與戰略重點相一致,即將業務的非海洋部分不成比例地擴展到海洋。


Information source: World Maritime News Staff; Image Courtesy: Maersk