On the back of continued strong container market demand and the disruption caused by the ongoing crisis in the Red Sea, A.P. Moller – Maersk A/S (Maersk) now also sees signs of further port congestions, especially in Asia and the Middle East, and additional increase in container freight rates. This development is gradually building up and is expected to contribute to a stronger financial performance in the second half of 2024.
Based on this development, Maersk upgrades its 2024 full-year guidance and now expects an underlying EBITDA of USD 7 to 9bn and EBIT of USD 1 to 3bn (previously USD 4 to 6bn and USD -2 to 0bn, respectively), and free cash flow of at least USD 1bn (previously at least USD -2bn).
Trading conditions remain subject to higher-than-normal volatility given the unpredictability of the Red Sea situation and the lack of clarity of future supply and demand.
Maersk will publish its Q2 result on 7 August 2024.
(Maersk)
