The Interim Report 2nd Quarter 2016 for A.P. Møller - Mærsk A/S is hereby enclosed.
The Group CEO, Søren Skou, states:
"In a second quarter impacted by low growth and falling prices in nearly all our markets, the Maersk Group delivered an underlying profit of USD 134m. The result is unsatisfactory. Cost reductions and operational optimizations, however, made a significant contribution to mitigating the impact of the negative market conditions. Maersk Oil has reduced operational costs by 25 percent, upholding a break-even at USD 40-45 per barrel. The costs in Maersk Line have been reduced to an all-time low level and are under USD 2,000/FFE for the first time. Our financial position remains strong with a liquidity reserve of USD 11.5bn. The Group's expectation for 2016 of an underlying result significantly below last year is unchanged. To ensure the future strength, profitability and development of new growth opportunities of the company, the Board of Directors have initiated a strategic review of the company and will report on progress of the review before the end of Q3, 2016."
Head of Investor Relations, Stig Frederiksen, tel. +45 3363 3106
Head of Media Relations, Louise Münter, tel. +45 3363 1912