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 is an integrated logistics company  working to connect and simplify its customers’ supply chains. As a global leader in logistics services, the company operates in more than 130 countries and employs around 100,000 people. Maersk is aiming to reach net zero GHG emissions by 2040 across the entire business with new technologies, new vessels, and reduced GHG emissions fuels*.

*Maersk defines "reduced GHG emissions fuels" as fuels with at least 65% reductions in GHG emissions on a lifecycle basis compared to fossil of 94 g CO2e/MJ.