A.P. Moller-Maersk A/S fell short of earnings expectations last year but promised its shareholders that profit at the world’s biggest shipping company will grow as much as 43% in 2018.
CEO Soren Skou described last year as “unusual and eventful,” in a statement on Feb. 9. But he assured investors that the company’s “vision of becoming the global integrator of container logistics, connecting and simplifying our customers’ supply chains, is taking shape.”
Skou said 2017 was characterized by “strong underlying market conditions.” But the result was hurt in part after Maersk was hit by a cyberattack in June that mainly affected its Maersk Line unit. Weaker rates and increasing bunker costs, “especially in the fourth quarter,” also dragged down last year’s result, he said.
