Maersk Net 4th Quarter Profit Down 86%

AP Moller-Maersk A/S (MAERSK-B.KO): 4Q Earnings Due: Feb. 27 at 0700 GMT DJ/Factset Survey of 11 Analysts
[li]Average Revenue: DKK83.14B, +3.1% (DKK80.61B in 4Q 2010)[/li][li]Average EBIT: DKK9.29B, -24% (12.16B in 4Q 2010)[/li][li]Average Net Profit: KK630.4M, -86% (4.44B in 4Q 2010)[/li][/ul][LEFT]
Note: Maersk’s 4Q is seen dominated by unsustainably low freight rates achieved at Maersk Line, the world’s largest container shipping firm. This was offset some by a higher oil price, which drove up revenues from its oil-producing arm, but this couldn’t compensate Maersk Line’s net loss, which Sydbank estimated came to about DKK2.8B in the quarter. Eyes are on shipping margins and outlook as well as news on whether Maerk’s CEO will return as planned in April, after heart surgery put him on sick leave around the year’s-end.

  • Flemming Hansen, Dow Jones & Co[/I][/LEFT]