The war in Ukraine has been felt financially at Maersk, meaning the company ”has recognized the corresponding value adjustment” for this year’s first quarter. Being updated.
Russia’s invasion of neighboring Ukraine has not only affected bottlenecks but has also had a financial impact at Maersk.
Overall, the Russian invasion has had a negative effect on the operating result (EBIT) of USD 718m in Q1 2022, according to the company’s quarterly figures.
This is due to Maersk’s decision to withdraw from Russia, thus halting all business in the country.
”A.P. Moller – Maersk has decided to withdraw from doing business in Russia and consequently has recognized the corresponding value adjustment in Q1,” reads the financial report.
The biggest impact has occurred in the terminal business, resulting in an adjustment of USD 485m.
This is primarily due to Maersk’s ownership share in Global Ports, which the carrier has decided to divest.
”The invasion and the ensuing sanctions on Russia are clearly having a very significant negative impact on Ukraine and Russia. The invasion has also added to inflationary pressures elsewhere via higher energy and commodity prices. At this stage, not much data is available for the post-invasion period,” writes the carrier.
In Maersk’s sea freight business, the war has caused an adjustment of USD 162m.
