The outlook for 2021 remains uncertain due to the ongoing pandemic
AP Moller-Maersk is changing its full-year guidance for 2020 based on preliminary Q3 figures and the current outlook for Q4-2000, the company stated in a recent press communiqué.
“A.P. Moller-Maersk is on track to deliver a strong Q3 with solid earnings growth across all our businesses, in particular in Ocean and Logistics & Services. The outlook for Q4 is solid for the same reasons, and we are therefore able to upgrade our expectations for the full year,” cautioned Søren Skou, CEO, AP Moller-Maersk
“The outlook for 2021 remains uncertain due to the ongoing pandemic. The positive impact from stimulus packages may be less strong in 2021, potential new lock downs will impact demand and the timing and effectiveness of a potential vaccine will impact 2021,” he continued.
The company now reports unaudited revenue of US$ 9.9bn and an EBITDA before restructuring and integration costs of US$ 2.4bn for Q3-2020, driven by a continued recovery in demand and our initiatives to improve cost.
Volumes in Ocean declined by around 3 percent in Q3-2020 compared to previous year, which is slightly better than the anticipated mid-single digit contraction.
Trading conditions for the quarters ahead remain subject to a higher than normal uncertainty given the disruptions caused or potentially being caused by Covid-19.
AP Moller-Maersk will publish its Q3-2020 interim result on 18 November 2020, the press statement concluded.
