Maersk Increases 2024 Full-Year Guidance

Maersk Increases 2024 Full-Year Guidance

Improved market conditions drive upwards revisions to financial numbers

Thanks to improving market conditions signalling greater demand for container shipping, Maersk has issued a statement with an upward revision of its full year outlook for 2024:

"On the back of continued strong container market demand and the disruption caused by the ongoing crisis in the Red Sea, A.P. Møller - Mærsk A/S (APMM) 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 these developments, APMM upgrades its full-year 2024 guidance and now expects underlying EBITDA of US$7 to 9 billion and EBIT of US$1 to 3 billion (previously US$4 to 6 billion and US$2 to 0 billion, respectively), and free cash flow of at least US$ billion (previously at least US$ 2 billion).

"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."

APMM will publish its Q2 interim results on 7 August 2024.

Read More: Maersk Q1 Results in Line with Expectations Amid Ongoing Red Sea Crisis

Related Stories

No stories found.
Transport and Logistics ME