Maersk tipped for better

RS Platou Markets is backing AP Moller-Maersk to pass its own elevated profit forecast this year.

Analysts at the Norwegian finance house are also tipping the Danish company to improve its performance in 2015 aided by savings from the new 2M alliance.

In a post-results update, Platou analysts Frode Morkedal, Herman Hildan and Alex Gheorghe said they expect AP Moller to clock a profit of $4.8bn in 2015.

They are ahead of the company’s own elevated $4.5bn forecast as its management is typically conservative with their guidance, the analysts wrote in the report.

Platou Markets says 2015 will be even better for AP Moller with a profit of $6.3bn.

“We believe the 2M alliance with MSC should result in $700m of savings, helping to reduce unit costs another 4% y-y,” the analysts wrote.

In the second quarter AP Moller logged a profit of $2.25bn, beating the $2.21bn consensus of Thomson Reuters.

Chief executive Nils Andersen was this week hopeful Maersk Line’s 2M project will not face the same regulatory fate as its scrapped P3 alliance.

In both China and Europe the 2M will be surveyed but it is not subject to approval in the same way that the P3 was, he said during a second quarter conference call.

Pressed by analysts on if China may try to block the move having earlier shot down the P3 dream, Andersen said: “Our interpretation is no.”

He added: “To say never, under no circumstances, is a guarantee that nobody can give."


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