A.P. Moller - Maersk's expectation of an underlying profit above 2016 (USD 711m) is unchanged. 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.
Due to gradual improvements in container rates Maersk Line continues to expect an improvement in excess of USD 1bn in underlying profit compared to 2016 (loss of USD 384m).
Global demand for seaborne container transportation is still expected to increase 2-4%.
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 still expected to be around 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 in the Annual Report 2016. All figures in parenthesis refer to full-year 2016.