Based on the market development, combined with cost measures across the organisation and significant blanked sailings in Ocean, A.P. Møller - Mærsk A/S (APMM) expects an EBITDA before restructuring and integration costs for Q2 2020 slightly above the level for Q1 2020 (USD 1.5bn).
A.P. Moller - Maersk had a financially strong start to the year. Despite the COVID-19 pandemic’s profound impact on global trade the company kept momentum in its strategic transformation and demonstrated robustness to weather the crisis.
The aim of the transformation of A.P. Moller – Maersk is to set the company on a new profitable growth trajectory to maximise shareholder value, while delivering on our purpose of enabling cost competitive, simple and sustainable global trade.
A.P. Moller - Maersk has closed the first quarter of 2019 with a 33% increase in earnings before interest, tax, depreciation and amortization (EBITDA) to USD 1.2bn while revenue grew by 2.5% to USD 9.5bn compared to Q1 2018. Operating cash flow improved significantly to USD 1.5bn and free cash flow was USD 3.5bn, including sale of shares in Total S.A.
The objective of the transformation of A.P. Moller - Maersk is to set the company on a new profitable growth trajectory. In the past two and a half years, we have come far in regaining our growth ambition, but we still need to improve profitability from the level seen in 2018.