Monday 20th Nov 2017 - Logistics Manager

Cyber attack costs Maersk $250m

The cyber attack on AP Møller – Mærsk in June cost the company between $250 million and $300 million, the group said in its results for the third quarter.

The cyber-attack primarily impacted July and August and the vast majority of the impact is related to Maersk Line that reported an underlying profit of $211m and a positive ROIC of 4.3 per cent.

Nevertheless, Transport & Logistics reported a revenue growth of 14 per cent to $ 8bn helped by higher freight rates at Maersk Line.

The group’s underlying profit, at $248 million reflected an improve of $290m in Transport & Logistics and a decline of $15m in Energy.

“The revenue increased in Transport & Logistics by 14 per cent and was mainly driven by higher revenue in Maersk Line,” said group chief executive Søren Skou.

“Market fundamentals stayed positive with global container volume growth at 5 per cent in the third quarter compared to the same period last year and an increase in nominal supply of 3 per cent. However, contingency initiatives related to recovery after the cyber-attack resulted in a negative development in Maersk Line volumes of 2.5 per cent and increase in unit cost of 3.9 per cent at fixed bunker prices.”

AP Møller – Mærsk is selling its remaining 19 per cent holding Dansk Supermarked Group to its partner Salling Companies.