Strong demand due to Red Sea disruptions, combined with escalating freight rates, have led Danish shipping major A P Møller - Mærsk (APMM) to revise its outlook for the full year 2024 upwards.
Based on preliminary unaudited figures, it expects revenue of $15.8 billion, underlying Ebitda of $4.8bn and underlying Ebit of $3.3bn (reported: $3.3bn) for Q3 2024, according to a statement.
On the back of these strong third-quarter results, the carrier has revised growth expectations for the full year from 4-6% to around 6%.
It expects underlying Ebitda of $11.0 to 11.5 billion, and Ebit of $5.2 to 5.7bn (previously $9 to 11bn and $3 to 5bn, respectively), and free cash flow of at least $3bn (previously at least $2bn).
This is the second time since August that the carrier has increased its 2024 earnings guidance, indicating the impact of volatile geopolitical events on the sea freight industry.
APMM will publish its full Q3 interim results on October 31.
