A.P. Møller - Mærsk A/S – Trading update for Q2 and adjustment of full-year guidance 2024

Copenhagen, Denmark: Based on preliminary figures, A.P. Møller - Mærsk A/S (APMM) reports an unaudited revenue of USD 12.8bn, underlying EBITDA of USD 2.1bn and underlying EBIT of USD 756m (reported EBIT of USD 963m) for Q2 2024.

Due to the continued supply chain disruption caused by the situation in the Red Sea, which is now expected to continue at least until the end of 2024, coupled with robust container market demand, APMM upgrades its full-year 2024 guidance and now expects underlying EBITDA of USD 9 to 11bn and EBIT of USD 3 to 5bn (previously USD 7 to 9bn and USD 1 to 3bn, respectively), and free cash flow of at least USD 2bn (previously at least USD 1bn).

The outlook for the global container market volume growth for the full-year 2024 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 7 August 2024.

About Maersk

A.P. Moller - Maersk (Maersk) is an integrated logistics company connecting and simplifying its customers’ supply chains. As a global leader in logistics services, the company has 100,000+ customers, operates in almost 130 countries, and employs 100,000+ people. Maersk delivers innovative, reliable ocean network solutions, offers truly integrated logistics products and operates advanced container terminals, both gateways and hubs, with 60+ locations globally.