Maersk half year result risen 46 per cent
Half-year revenue of Maersk was 46,451 million Danish crowns, which was 22 per cent of the first half result of 2000. Half-year result before gains on sales and special items was DKK 6,648 million, up 46 percent. (8/29/2001)
‘For the non-Danish Maersk Sealand companies and the non-Danish ship owning companies, the combined half year results were substantially above those of 2000’, Maersk stated.
Exchange rate adjustments of debts and receivables, primarily as a consequence of strengthening of the US dollar, reduced the result by DKK 1,711 million (DKK 435 million after reduction of provisions by DKK 250 million).
After exchange rate adjustments and other special items, and after estimated taxes, etc. of DKK 1,832 million (DKK 1,500 million), the combined result for the four entities of Maersk was DKK 3,052 million (DKK 2,630 million).
‘Outlook for the year 2001: Maersk expects a total result for the full year 2001, before gains on sales, exchange rate adjustments and other special items, somewhat above that of 2000, which was DKK 9,741 million; after these items and after tax, etc., somewhat above that of 2000, which was DKK 5,246 million.
This is a refinement of expressed expectations, not an upward adjustment. Much more unfavorable conditions for the container services and for the large crude carriers will affect the result negatively in the second half year.
Reductions in cargo volumes and further reductions in freight rates, as well as changes in oil prices, exchange rates, etc., may still affect the development of the result.’
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Author:Newsdesk, eyefortransport.com
