Today’s news / Maersk value drops by nearly 30 billion DKK
The Maersk share plummeted on Thursday after the company presented its annual report. At market close, Maersk's B share had fallen nearly 15 percent. (Archive photo). Photo: Tom Little/Reuters

Maersk value drops by nearly 30 billion DKK

Maersk’s share price saw a significant drop on Thursday, with the B-share falling by 14.7% and the A-share by 15.1%, marking the second-largest real drop in a single day for the company. This decrease was not related to dividend distributions. The company’s annual report revealed a more than 86% decline in profit compared to the previous year, with 2023 earnings at 27 billion DKK, down from over 200 billion DKK. The market value decreased nearly 30 billion DKK to 169.6 billion DKK by Thursday evening. Concerns over a negative forecast for 2024 and the cessation of share buybacks have worried investors. Increases in shipping rates due to detours around Africa caused by Houthi movement attacks in the Red Sea have not improved the outlook. The suspension of the buyback program has particularly upset investors, as share buybacks help increase share value.