Maersk Group posts Q2 2015 profit of $1.1 bn
The Maersk Group reported a satisfactory profit in Q2 of $1.1 billion ($2.3bn) negatively impacted by the lower oil price and lower average container freight rates. The return on invested capital (ROIC) was 10.2% (18.6%). The underlying profit was $1.1bn ($1.2bn) with decreases in Maersk Line, Maersk Oil and APM Terminals and increases for Maersk Drilling and APM Shipping Services, Maersk said in a press release.
Second-quarter revenue of Maersk Line reached $6.3 bn, profit was $507 million and an underlying profit was $499m. Despite a sharp decline in the average freight rate of 14.1%, Maersk Line delivered a 10.1% (10.8%) ROIC based on its cost leadership strategy.
The Maersk Group is a worldwide conglomerate operating in some 130 countries with a workforce of over 89,000 employees. Maersk is involved in a wide range of activities in the shipping, logistics, and the oil and gas industries. The Maersk Group has five core businesses which include Maersk Line, APM Terminals, Maersk Oil, Maersk Drilling and APM Shipping Services. The last business area is comprised of Maersk Supply Service, Maersk Tankers, Damco and Svitzer. In 2014 Maersk Group's revenue reached $47.6 billion, profit was $5.2 billion.
The Group's shipping division Maersk Line is the world’s largest container shipping company. The Maersk Liner business also includes Safmarine, Seago Line, and MCC. The company operates in over 120 countries around the world and has a fleet of over 600 ships which sail every major trade lane on the globe.
