Danish shipping giant A.P. Moller-Maersk has reported an unaudited revenue of US$12.8 billion, underlying EBITDA of US$2.1 billion and underlying EBIT of US$756 million (reported EBIT of US$963 million) for the second quarter of 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, the Danish shipping company has upgraded its full-year 2024 guidance.
Maersk now expects underlying EBITDA of US$9 to 11 billion and EBIT of US$3 to 5 billion (previously US$7 to 9 billion and US$1 to 3 billion, respectively), and free cash flow of at least US$2 billion (previously at least US$1 billion).
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 the fourth quarter,” said Maersk in a statement.
The company will publish its full second quarter interim results on 7 August.
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