Despite continued disruptions on the Red Sea shipping route, logistics giant A.P. Moller – Maersk (APMM) has further updated its 2024 profit projections, with the Danish company now expecting a profit of between USD 9 and USD 11 billion.
It had already updated its EBITDA (earnings before interest, taxes, depreciation and amortisation) estimates by USD 3 billion to between USD 7 and USD 9 billion in June this year.
APMM’s full Q2 interim results will be published on August 7.
“Based on preliminary figures, APNN reports an unaudited revenue of USD 12.8 billion, underlying EBITDA of USD 2.1 billion and underlying EBIT of USD 756 million,” Maersk says.
“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.
“Tracking 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.”
Maersk operates in 130 countries and employs roughly 100,000 people across its operations.
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