COPENHAGEN (dpa-AFX) - A.P. Moller - Maersk (AMKAF.PK, AMKBF.PK) reported Thursday that its fourth-quarter loss, group share was $72 million, compared to prior year's profit of $32 million.
Loss from continuing operations was $61 million, compared to loss of $72 million a year ago. The prior year results included IFRS 16 and MSS.
Underlying profit from continuing operations was $29 million, compared to $65 million last year.
Revenue dropped to $9.67 billion from prior year's $10.24 billion, partly due to front-loading on the Pacific last year.
Profit before depreciation, amortisation and impairment losses, etc. or EBITDA edged up to $1.463 billion from $1.449 billion a year ago. EBITDA margin improved by 0.9 percentage point to 15.1 percent from 14.2 percent last year.
Further, the Board of Directors proposed an ordinary dividend to the shareholders of DKK 150 per share, same as last year.
Looking ahead for fiscal 2020, A.P. Moller - Maersk expects EBITDA of around $5.5 billion. In fiscal 2019, EBITDA was $5.71 billion.
The outlook for 2020 is impacted by the current outbreak of the Coronavirus (COVID-19) in China, which has significantly lowered visibility on what to expect in 2020.
The company said it expects a weak start to the year as factories in China are closed for longer than usual in connection with Chinese New Year and as a result of the COVID-19.
Copyright RTT News/dpa-AFX