Maersk Group posts record profits

Falling oil prices set to challenge conglomerate in 2015

The Maersk group has posted its highest result ever, with profit of 34.14 billion kroner in 2014. But 2015 is expected to yield less impressive results due to falling oil prices.

Good performance across group
Group CEO Nils S Andersen said that he was satisfied with the 2014 results. “Despite challenging market conditions we saw good progress in underlying performance across the Group,” he said.

“Maersk Line maintained its lead on the rest of the industry and APM Terminals delivered significant improvements. Maersk Drilling executed on fleet renewal programme according to plan, while Maersk Oil increased entitlement production in line with expectations."

Maersk Oil’s underlying profit decreased by 50 percent in the fourth quarter to 150 million US dollars. The company attributed this to the 30 percent lower oil price but assessed that this was partly offset by an increase in entitlement production and lower exploration costs.

News of the results caused the price of the Maersk Group’s B shares to rise by almost 7 percent today.

The company also announced that it will sell its 20 percent ownership stake in Danske Bank to AP Møller Holding, a subsidiary of the AP Møller Foundation, and declare an extraordinary cash dividend to the group’s shareholders equal to the value of the interest in the bank.

TOP STORIES

  • Navigating big love, big moves and big feelings

    Navigating big love, big moves and big feelings

    Experts believe it takes seven years to move into a new culture, according to leading Danish psychologist Jette Simon and therapist Vibeke Hartkorn. For expat couples, the challenges of starting a new life together in Denmark can put pressure on relationships, but emotions-focused therapy can help.

  • More and more Danes are working after retirement age

    More and more Danes are working after retirement age

    Politicians debate a lot these days about when you can retire. The reality shows that an increasing number of Danes like to work, even if they can withdraw from the labor market. Financial incentives help.

  • Environmental activist fears death in prison if extradited to Japan

    Environmental activist fears death in prison if extradited to Japan

    Canadian-born environmental activist Paul Watson has been in prison in Greenland for almost 100 days awaiting an extradition decision for a 14-year-old offence against a Japanese whaling vessel that he calls a “minor misdemeanor”. The 73-year-old had previously passed through Ireland, Switzerland, Monaco, France and the USA without trouble, before Greenlandic police arrested him in July.

  • Denmark too slow to ease recruitment rules for non-EU service workers, say industry associations

    Denmark too slow to ease recruitment rules for non-EU service workers, say industry associations

    When the Danish government in January presented the first of its schemes to make it easier to recruit foreign labour from outside the EU, it was hailed by the healthcare and service sectors as a timely and important policy shift. But while healthcare changes have been forthcoming, the service sector is still struggling, say the directors of the industry association Dansk Industri and one of the country’s largest private employers ISS.

  • Jacob Mark had it all coming in rising SF party – now he quits

    Jacob Mark had it all coming in rising SF party – now he quits

    SF became Denmark’s largest party in the EP elections in June. In polls, the left-wing party is breathing down Socialdemokratiet’s neck. It is a tremendous place to be next in line in Danish politics. But today, 33-year-old Jacob Mark announced he is quitting politics at the threshold of the door of power.

  • EU leaders toughen stance on return of irregular migrants

    EU leaders toughen stance on return of irregular migrants

    EU leaders agreed last week to speed up returns of migrants irregularly entering the bloc. Danish Prime Minister Mette Frederiksen is pleased, describing Denmark’s previous attempts to pitch a stricter asylum and migration policy to the EU as “like shouting into an empty handball hall in Jutland”. But not all leaders are enthusiastic.

Connect club

Connect Club is your gateway to a vibrant programme of events and an international community in Denmark.

Sign up here

Career

  • Come and join us at Citizens Days!

    Come and join us at Citizens Days!

    On Friday 27 and Saturday 28 of September, The Copenhagen Post will be at International Citizen Days in Øksnehallen on Vesterbro, Copenhagen. Admission is free and thousands of internationals are expected to attend

  • Diversifying the Nordics: How a Nigerian economist became a beacon for inclusivity in Scandinavia

    Diversifying the Nordics: How a Nigerian economist became a beacon for inclusivity in Scandinavia

    Chisom Udeze, the founder of Diversify – a global organization that works at the intersection of inclusion, democracy, freedom, climate sustainability, justice, and belonging – shares how struggling to find a community in Norway motivated her to build a Nordic-wide professional network. We also hear from Dr. Poornima Luthra, Associate Professor at CBS, about how to address bias in the workplace.

  • Lolland Municipality launches support package for accompanying spouses

    Lolland Municipality launches support package for accompanying spouses

    Lolland Municipality, home to Denmark’s largest infrastructure project – the Fehmarnbelt tunnel connection to Germany – has launched a new jobseeker support package for the accompanying partners of international employees in the area. The job-to-partner package offers free tailored sessions on finding a job and starting a personal business.

Want to advertise your job with CPH Post?

Contact us

Jobs