A.P. Moller - Maersk's expectation of an underlying profit above 2016 (USD 711m) is unchanged despite expected negative impact from the June cyber-attack. Gross capital expenditure for 2017 is still expected to be USD 5.5-6.5bn (USD 5.0bn).
The guidance for 2017 excludes the acquisition of Hamburg Süd.
The Transport & Logistics division reiterates the expectation of an underlying profit above USD 1bn, despite expected negative result impact from the June cyber-attack estimated at a level of USD 200-300m, of which the majority relates to lost revenue in July. The vast majority of the impact of the cyber-attack was in Maersk Line.
Maersk Line reiterates the expectation of an improvement in excess of USD 1bn in underlying profit compared to 2016 (loss of USD 384m) mainly due to improvements in freight rates and partly increasing volumes.
Global demand for seaborne container transportation is still expected to increase 2-4%, but in the upper end of the range.
The remaining businesses (APM Terminals, Damco, Svitzer and Maersk Container Industry) in the Transport & Logistics division still expect an underlying profit around 2016 (USD 500m).
The Energy division maintains an expectation of an underlying profit around USD 0.5bn, with Maersk Oil being the main contributor.
The entitlement production is still expected at a level of 215,000-225,000 boepd (313,000 boepd) for the full-year and around 150,000-160,000 boepd for the second half of the year after exit from Qatar mid-July. Exploration costs in Maersk Oil are now expected to be below the 2016 level (USD 223m).
Net financial expenses for A.P. Moller – Maersk are still expected around USD 0.5bn.
Changes in guidance are versus guidance given at the interim report for Q1 2017. All figures in parenthesis refer to full-year 2016.