182

News

Mærsk suffers 5 billion kroner drop in profits

Lucie Rychla
November 6th, 2015


This article is more than 9 years old.

Denmark’s largest company struggles as freight rates and oil prices sink to historically low levels

Maersk Line is planning to lay off 4,000 employees by the end of 2017 (photo: Maersk Line)

AP Møller-Maersk has suffered a five billion kroner drop in profits due to historically low freight rates and oil prices.

Over the past 12 months, oil prices plunged by 51 percent and freight rates fell by 19 percent, negatively affecting the shipping giant.

In the third quarter of 2015, the Group made 5.3 billion kroner in profits as opposed to 10.3 billion kroner in the same period last year.

In late October, Maersk announced that as a direct consequence of the disappointing development in its largest division Maersk Line, the Group had to downgrade its financial outlook for 2015 by 4 billion kroner.

Laying off employees
The company is expected to earn 23.3 billion kroner this year, while in 2014 it made 28.1 billion kroner in profits.

In addition, the company’s stock value has dropped 31.5 percent since its peak in April.

Moreover, Maersk Line has announced 4,000 of its total 23,000 employees will be laid off by the end of 2017.


Share

Most popular

Subscribe to our newsletter

Sign up to receive The Daily Post

















Latest Podcast

A survey carried out by Megafon for TV2 has found that 71 percent of parents have handed over children to daycare in spite of them being sick.

Moreover, 21 percent of those surveyed admitted to medicating their kids with paracetamol, such as Panodil, before sending them to school.

The FOLA parents’ organisation is shocked by the findings.

“I think it is absolutely crazy. It simply cannot be that a child goes to school sick and plays with lots of other children. Then we are faced with the fact that they will infect the whole institution,” said FOLA chair Signe Nielsen.

Pill pushers
At the Børnehuset daycare institution in Silkeborg a meeting was called where parents were implored not to bring their sick children to school.

At Børnehuset there are fears that parents prefer to pack their kids off with a pill without informing teachers.

“We occasionally have children who that they have had a pill for breakfast,” said headteacher Susanne Bødker. “You might think that it is a Panodil more than a vitamin pill, if it is a child who has just been sick, for example.”

Parents sick and tired
Parents, when confronted, often cite pressure at work as a reason for not being able to stay at home with their children.

Many declare that they simply cannot take another day off, as they are afraid of being fired.

Allan Randrup Thomsen, a professor of virology at KU, has heavily criticised the parents’ actions, describing the current situation as a “vicious circle”.

“It promotes the spread of viruses, and it adds momentum to a cycle where parents are pressured by high levels of sick-leave. If they then choose to send the children to daycare while they are still recovering, they keep the epidemic going in daycares, and this in turn puts a greater burden on the parents.”