Q1 2024 results showed a strong recovery from Q1 2024
A.P. Moller-Maersk has revised its financial guidance for 2024 after a strong Q1, driven by a good performance in terminals and the combination of higher demand and the prolonged Red Sea crisis.
Although groupwide revenues declined 13% year-on-year in Q1 at US$12.4bn and quarterly EBIT came in at US$177m, compared to US$2.3bn in Q1 2023, Maersk’s Q1 results showed a strong recovery in earning compared to Q4 2023.
The company now expects an underlying EBIT of US$ -2.0 to 0.0bn for the full-year 2024 and an underlying EBITDA of US$4-6bn, up from US$1-6bn.
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