Container shipping giant A.P. Møller – Mærsk A/S (APMM) said today that, for the first two months of third quarter 2021 it has “recognized a financial performance significantly ahead of our previous expectations and now expects for third quarter 2021 an underlying EBITDA close to $7 billion and an underlying EBIT close to $6 billionn. The strong result is driven by the continuation of the exceptional market situation within Ocean, which have led to further increases in both long- and short-term container freight rates.
“Given the persistent congestions and bottlenecks in the supply chains, APMM now expects the second half year 2021 to be stronger than previously anticipated, both Q3 and the full year 2021. Consequently, the full year guidance for 2021 has been revised upwards with an underlying EBITDA now expected in the range of $ 22-23 billion (previously $18-19.5 to $7 billion) and underlying EBIT expected in the range of $18-19 to $7 billion (previously $14-15.5 to $7 billion).
“The free cash flow (FCF) for the full-year 2021 is now expected to be minimum $14.5 to $7 billion (previously minimum $11.5 to $7 billion), while the cumulative CAPEX guidance for 2021-22 is unchanged of around $7 to $7 billion.
“The current guidance is still subject to uncertainty due to a higher than normal volatility given the temporary nature of both the demand patterns and disruptions in the supply chains.
“APMM will publish its third quarter interim result on November 2nd 2021.”