Maersk Slumps as It Unveils Second Loss Since World War II
- Line unit sees $1 billion improvement on its 2016 loss
- Chairman is stepping down after 18 years on Maersk’s board
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A.P. Moller-Maersk A/S unexpectedly lost money in 2016 as Denmark’s biggest company wrote down the value of some of the energy assets it plans to split off.
Maersk shares fell as much as 7.1 percent as the Copenhagen-based conglomerate reported a 2016 net loss of $1.94 billion. Analysts had expected a $963 million profit. The company, which has now only reported two annual losses since World War II, wrote down $2.7 billion in its Maersk Drilling and Maersk Supply Service units.