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Pre-tax profits of AP Moller-Maersk, the world's largest container shipping chain, continued to recover in 2018, as the company announced that it would discontinue its rig operations.
In 2018, Maersk reported a pre-tax profit of $ 238 million, up sharply from $ 25 million in 2017 and a loss of nearly $ 300 million in 2016. Both its revenue ($ 39 billion) as its result before interest, taxes, depreciation and amortization ($ 3.8 billion) was achieved around consensus badysts.
Soren Skou, Managing Director, said: "Although we had a difficult start in 2018, we have increased our earnings despite a significant increase in bunker fuel prices and lower-than-expected container volume growth in the second half of the year. 2018. However, profitability needs to be improved. improve."
Return on invested capital after tax was 0.8%, down from 1.6% last year.
Maersk told ebitda about $ 5 billion for 2019, but warned that the trade war between the United States and China, fluctuating fuel prices and exchange rate fluctuations could weigh on this figure.
After struggling to find buyers for Maersk Drilling, the company announced its intention to abolish the division as The Drilling Company of 1972, which would begin trading on Nasdaq Copenhagen on April 4.
Claus Hemmingsen, chairman of Maersk Drilling, said: "The split will create a publicly traded Denmark-based offshore drilling company with a clear investment profile and long-term prospects for development. . "
The parent company said that better freight rates and synergies from its acquisition of Hamburg Süd have helped improve ebitda, but it has not been able to offset rising fuel prices.
Maersk also significantly reduced its indebtedness from $ 14.8 billion to $ 8.7 billion, largely due to the sale of Maersk Oil, the sale of shares in the oil and gas company Total and liquidity from the separation of Maersk Drilling.
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