Maersk’s goals might be too optimistic
Investment bank Carnegie does not believe that A.P. Møller - Maersk can live up to its expectations of an operating profit result of 4-5 billion dollars for of 2018, seeing as freight rates have been significantly lower in 2018 compared to last year, Danish business paper Børsen writes.
"The second will defiantly be a very difficult quarter. It's freight rates that can change things positively, but I do not think that's enough. If they are to reach their guidance, the rates have to increase, says Marcus Bellander, analyst at Carnegie, to Børsen according to Nordnet.
At the same time, Maersk was hit by costs that increased by almost 250 dollars per container from the fourth quarter of 2017 to the first quarter of this year. The company's plan to reduce costs by 1-2 percent each year is too ambitious according to Marcus Bellander, as the costs increased by 6 percent in the first quarter of this year.
Chief Michael Michael Jensen from Danish financial concern Alm. Brand is not expecting a blooming second quarter, but is still content in his beliefs, writes Børsen.
"I don’t necessarily think there will be downgrading, but the second half will be very crucial to their goal of land at the 4 billion dollars, "says Michael Friis Jørgensen to Børsen.
Source: Nordnet / Maritime Danmark