A.P. Møller - Mærsk A/S announced consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenues of DKK 79,324 million compared with DKK 81,311 million for the same period a year ago. Profit before depreciation, amortisation and impairment losses, etc. was DKK 16,318 million compared with DKK 14,004 million for the same period a year ago. Profit before financial items was DKK 10,962 million compared with DKK 9,341 million for the same period a year ago. Profit before tax was DKK 9,544 million compared with DKK 8,475 million for the same period a year ago. Profit for the period was DKK 4,460 million compared with DKK 6,669 million for the same period a year ago. Profit for the period attributable to company was DKK 4,010 million or DKK 918 per diluted share compared with DKK 6,152 million or DKK 1,409 per diluted share for the same period a year ago. Cash flow from operating activities was DKK 13,528 million compared with DKK 6,462 million for the same period a year ago. Cash flow used for capital expenditure was DKK 8,304 million compared with DKK 4,750 million for the same period a year ago. Return on equity after tax, annualised was 7.9% compared with 12.8% for the same period a year ago. The Group still expects a result for 2013 below the 2012 result ($4.0 billion). The net result is expected to be in line with 2012 ($2.9 billion) excluding impairment losses, divestment gains and gain from the tax settlement in Algeria. Cash flow used for capital expenditure is expected to be somewhat higher than the $6.2 billion in 2012, while cash flow from operating activities is expected to develop in line with the result.

A.P. Møller - Mærsk A/S, Q1 2013 Earnings Call, May 17, 2013

A.P. Moeller-Maersk A/S began shipping from the port of Gothenburg port on Sweden's west coast to Busan, South Korea. The route will support growing Asian demand for European imports almost two years after Korea and the European Union signed a free-trade agreement.