The A.P Moller - Maersk Group delivered a profit of USD 790 million (USD 1.2 billion) and a return on invested capital (ROIC) of 8% (10.2%) for Q1-2013, said in the company's press release.
Maersk Line made a profit of USD 204 million (loss of USD 599 million) and a ROIC of 4% (negative 12.7%). The significant turnaround in the financial performance was achieved through lower costs as revenue of USD 6.3 billion was unchanged. The average freight rates increased 4.7% compared to Q1-2012, partly offset by 4% lower volumes. Total cost per FFE decreased by 7.1% mainly driven by vessel improved network efficiencies.
“We have improved our performance in the past year and we are satisfied with our result for the first quarter. Maersk Line is much more competitive and has gained strength to deal with the challenging shipping markets." says Group CEO Nils S. Andersen.