AP Moller Maersk said it reported a net loss for the first quarter of 2018 despite seeing a 30% growth on its headline revenue.
“In the first quarter of 2018, we reported a 30% revenue growth and the integration of the business is well underway with a successful start to the Hamburg Süd integration and the closing of Maersk Oil transaction in March with an accounting gain of USD 2.6bn. At the same time, on the short-term performance, our result especially in the ocean related part of the business was unsatisfactory.
He added that “In response to the current challenging market conditions we are implementing a number of short-term initiatives to improve profitability and we reiterate our guidance for 2018,” says Søren Skou, CEO of A.P. Moller – Maersk.