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Maersk estimates losses from suspension of operations in Russia at $624 mln

The impact on EBIT from the Russia/Ukraine situation was less negative due to a reversal in Q2 of USD 93 million of certain losses and impairments in Ocean previously recognized in Q1

STOCKHOLM, August 3. /TASS/. Losses of A. P. Moller - Maersk in the first half of 2022 due to suspension of operations in Russia amounted to $624 mln, the Danish shipping and logistical company said in its report released on Wednesday.

"As previously announced, A.P. Moller - Maersk is winding down its operations in Russia, which will ultimately result in a complete exit from the country. All services to and from Russia have been discontinued, and the process of divesting assets, including a minority stake of 30.75% of Global Ports Investments (GPI), is ongoing," the company said.

"The impact on EBIT from the Russia/Ukraine situation was less negative due to a reversal in Q2 of USD 93 million of certain losses and impairments in Ocean previously recognized in Q1. USD 70 million relates to more containers successfully being evacuated from the affected areas than previously anticipated. The net EBIT impact for H1 2022 is negative USD 624 million," Maersk informed.