A.P. Moller-Maersk A/S, the world’s largest container line, raised its guidance for profit this year after freight rates soared. Given the Q1 2021 result and the revised expectations that the exceptional market situation will continue well into the Q4 2021 - vs. the previous expectations that the situation would continue in Q1 and normalise thereafter – the full-year guidance has been revised upwards on 26 April 2021 to:
Underlying EBITDA in the range of USD 13.0-15.0bn (previously USD 8.5-10.5bn) compared to USD 8.3bn in 2020
Underlying EBIT in the range of USD 9.0-11.0bn (previ[1]ously USD 4.3-6.3bn) compared to USD 4.2bn in 2020
Free cash flow (FCF) of minimum USD 7.0bn (previously above USD 3.5bn) compared to USD 4.6bn in 2020.
Ocean is still expected to grow in line with global container demand, which is now expected to grow 5-7% in 2021 (previously 3-5% in 2021), primarily driven by the export volumes out of China to the USA.
For the years 2021-2022, the accumulated CAPEX is now expected to be around USD 7.0bn (previously USD 4.5-5.5bn).
Maersk Group
A.P. Moller - Maersk is an integrated transport and logistics company with multiple brands and is a global leader in container shipping and ports. The company employs roughly 76,000 employees across operations in 130 countries.