In light of the continued supply chain disruption in the Red Sea – which is expected to continue at least until the end of the year – along with robust container demand, shipping major A P Møller - Mærsk (APMM) has revised its outlook for the second quarter of the year upwards.
The company has reported an unaudited revenue of $12.8 billion, underlying Ebitda of $2.1bn and underlying Ebit of $756 million (reported Ebit of $963m) for Q2 2024.
For the full year, it expects underlying Ebitda of $9bn-11bn and Ebit of $3bn-5bn (previously $7bn-9bn and $1bn-3bn, respectively), and free cash flow of at least $2bn (previously at least $1bn).
According to a statement released by the company, the outlook for global container market volume growth for the full-year has been revised up to 4-6% (previously towards the upper end of 2.5-4.5%).
“Trading conditions remain subject to higher-than-normal volatility, given the unpredictability of the Red Sea situation and the lack of clarity of supply and demand in Q4.”
APMM will publish its full Q2 interim results on August 7.
