A.P. Møller – Maersk A/S – Trading update for Q2 and adjustment of full-year guidance 2024
Copenhagen, Denmark: A.P. Møller – Maersk A/S (APMM) has released preliminary figures for Q2 2024, showing unaudited revenue of USD 12.8 billion, an underlying EBITDA of USD 2.1 billion, and an underlying EBIT of USD 756 million (reported EBIT of USD 963 million).
The ongoing supply chain disruptions in the Red Sea, expected to persist until at least the end of 2024, along with strong container market demand, have led APMM to upgrade its full-year 2024 guidance. The company now anticipates an underlying EBITDA of USD 9 to 11 billion and an EBIT of USD 3 to 5 billion (previously USD 7 to 9 billion and USD 1 to 3 billion, respectively), with free cash flow projected at a minimum of USD 2 billion (previously at least USD 1 billion).
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The forecast for global container market volume growth in 2024 has also been adjusted upward to 4-6% (previously towards the upper end of 2.5-4.5%).
Trading conditions continue to exhibit higher-than-normal volatility due to the unpredictable situation in the Red Sea and the uncertain supply and demand dynamics expected in Q4.
APMM will publish its full Q2 interim results on 7 August 2024.
About Maersk
A.P. Moller – Maersk is an integrated logistics company working to connect and simplify its customers’ supply chains. As a global leader in logistics services, the company operates in more than 130 countries and employs around 100,000 people. Maersk is aiming to reach net zero emissions by 2040 across the entire business with new technologies, new vessels, and green fuels.
