- A.P. Møller – Mærsk A/S (APMM) reports strong Q3 2024 results, with revenue reaching USD 15.8bn and underlying EBITDA at USD 4.8bn.
- Strong container market demand and ongoing geopolitical tensions have upgraded full-year 2024 expectations for EBITDA and EBIT.
- APMM revised its global container market volume growth outlook for 2024 to around 6%.
Based on preliminary unaudited figures, A.P. Møller – Mærsk A/S (APMM) announced a revenue of USD 15.8bn for Q3 2024, along with an underlying EBITDA of USD 4.8bn and underlying EBIT of USD 3.3bn, reports Maersk.
Strong Market Demand Drives Positive Results
Revenue for Q3 2024 stood at USD 15.8bn, reflecting strong market performance for APMM despite ongoing challenges.
The company’s underlying EBITDA reached USD 4.8bn, supported by positive market conditions and strong demand in the container shipping sector.
The solid results in Q3 were attributed to strong container market demand and the continued geopolitical situation in the Red Sea region, which impacted global shipping dynamics.
Updated 2024 Full-Year Financial Projections
APMM revised its full-year 2024 guidance upwards, expecting underlying EBITDA between USD 11.0 and 11.5bn and EBIT between USD 5.2 and 5.7bn.
Due to the favorable Q3 performance, APMM upgraded its EBITDA expectations from the previous range of USD 9 to 11bn to the new estimate of USD 11.0 to 11.5bn for 2024.
APMM also increased its free cash flow target for 2024 to at least USD 3bn, compared to the earlier projection of at least USD 2bn.
Impact of Red Sea Situation on Market Outlook
The Red Sea geopolitical situation continues to influence global shipping, contributing to APMM’s strong performance in the container shipping market.
APMM adjusted its global container market volume growth outlook for 2024. They revised it from 4-6% to 6% for the full year.
The company will provide its full Q3 interim results on 31 October 2024, offering detailed insights into its performance.
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Source: Maersk
