Maersk Group posts Q1 net profit of $790 mln
The A.P Moller - Maersk Group delivered a profit of USD 790 million (USD 1.2 billion) and a return on invested capital (ROIC) of 8% (10.2%) for Q1-2013, said in the company's press release.
Maersk Line made a profit of USD 204 million (loss of USD 599 million) and a ROIC of 4% (negative 12.7%). The significant turnaround in the financial performance was achieved through lower costs as revenue of USD 6.3 billion was unchanged. The average freight rates increased 4.7% compared to Q1-2012, partly offset by 4% lower volumes. Total cost per FFE decreased by 7.1% mainly driven by vessel improved network efficiencies.
A.P. Moller-Maersk Group operates in 63 ports and 155 internal terminals in 64 countries worldwide. The Group comprises Maersk Line (container shipping), APM Terminals (stevedoring activities), Maersk Oil (oil and gas activities) and Maersk Drilling (equipment for off-shore production of hydrocarbons).
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