Company Overview of Maersk, Inc.
Maersk, Inc. provides container shipping services. It offers dry cargo services; reefer cargo, a refrigerated shipping containers used for transporting cargo requiring temperature-controlled conditions, such as vegetables, fruit, fish, protein, and other commodities; and special cargo services that are used for transporting heavy machinery, steel coils, engines, yachts, trucks, sculptures, and other oversized items. The company also provides customer advisories, inland and intermodal container transport, and customer charter services. It serves customers in Africa, Europe, the Middle East, Oceania, Asia, Far East, South America, Atlantic, and Central America. The company was founded in 1943 ...
2 Giralda Farms Madison Avenue
P.O. Box 880
Madison, NJ 07940-0880
Founded in 1943
Key Executives for Maersk, Inc.
Chief Executive Officer and Member of Management Board
Chief Financial Officer and Chief Strategy & Transformation Officer
Chief Executive Officer of Maersk Group
Compensation as of Fiscal Year 2014.
Maersk, Inc. Key Developments
Maersk, Inc. Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Revised Earnings Guidance for the Full Year of 2014
Aug 19 14
Maersk, Inc. announced earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenues of $6,902 million compared with $6,651 million for the same period a year ago. EBITDA was $1,024 million compared with $920 million for the same period a year ago. EBIT was $567 million compared with $467 million for the same period a year ago. Net operating profit was $547 million compared with $439 million for the same period a year ago. Cash flow from operating activities was $870 million compared with $790 million for the same period a year ago. Cash flow used for capital expenditure was $488 million compared with $311 million for the same period a year ago.
For the six months, the company reported revenues of $13,365 million compared with $12,964 million for the same period a year ago. EBITDA was $1,886 million compared with $1,551 million for the same period a year ago. EBIT was $1,070 million compared with $662 million for the same period a year ago. Net operating profit was $1,001 million compared with $643 million for the same period a year ago. Cash flow from operating activities was $1,583 million compared with $1,552 million for the same period a year ago. Cash flow used for capital expenditure was $856 million compared with $790 million for the same period a year ago.
The company revised earnings guidance for the full year of 2014. Maersk Line revised its expected result from being above 2013 (USD 1.5 billion) to being significantly above the 2013 result following a strong financial performance in the first half of 2014. The global demand is still ex-pected to grow by 4-5%.
Maersk, Inc. Reports Earnings Results for 2013
Feb 27 14
Maersk, Inc. reported earnings results for 2013. For the full year, the company reported total revenue of DKK 147,184 million, EBITDA of DKK 18,615 million, EBIT of DKK 8,828 million and net operating profit after tax of DKK 8,483 million compared to total revenue of DKK 157,119 million, EBITDA of DKK 12,627 million, EBIT of DKK 3,043 million and net operating profit after tax of DKK 2,671 million a year ago period. Cash flow from operating activities was DKK 20,968 million against DKK 10,384 million a year ago. Cash flow used for capital expenditure was DKK 9,031 million against DKK 20,566 million a year ago. The improvement was driven by lower unit costs through the continuous focus on operational cost savings mainly from vessel network efficiencies, active capacity adjustments and improved vessel utilisation, and also supported by lower bunker price. ROIC was 7.4% against 2.3% a year ago. Revenue decreased was negatively impacted by a decrease of 7.2% in the average freight rate to USD 2,674/FFE partly offset by a volume increase of 4.1% to 8.8 million FFE.
Maersk Line Announces Executive Changes
Nov 1 13
A.P. Moller - Maersk Group announced that Soren Toft will replace Morten Engelstoft as COO of Maersk Line. Soren Toft joined Maersk in 1994 and has held several positions in the Group. He comes from a job as Head of Network Planning in Maersk Line. Prior to this he has held various positions in Operations both in Headquarters, Germany and Indonesia.
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