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    MAERSK B   DK0010244508


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A P Møller Mærsk A/S : Maersk lifts outlook as supply chain disruptions push up shipping rates

08/02/2021 | 03:01pm EDT
FILE PHOTO: Mobile cranes prepare to stack containers at Thar Dry Port in Sanand

COPENHAGEN (Reuters) - The world's biggest container shipping company, A.P. Moller-Maersk, on Monday lifted its full-year earnings outlook after reporting strong preliminary quarterly results as chaotic conditions in the global supply chain pushed freight rates higher.

In the wake of the coronavirus pandemic, shortages of container ships and logjams at ports around the world combined with high consumer demand for material goods have caused freight rates to skyrocket to record levels.

"The strong quarterly performance is mainly driven by the continuation of the exceptional market situation with a strong rebound in demand causing bottlenecks in the supply chains and equipment shortage," Maersk said in a statement.

Maersk, which handles one in five containers shipped worldwide, expects the global market to continue growing for the remainder of the year, and now forecasts full-year demand growth of 6-8%, revised up from 5-7%, primarily driven by exports from China to the United States.

This would also result in third-quarter earnings exceeding the second quarter's, the company said, but warned of demand volatility.

Maersk now expects full-year underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) in the range of $18-19.5 billion, up from a previous estimate of between $13-15 billion.

It said volumes in its Ocean division, it's biggest, increased by 15% in the second quarter from a year earlier, while average freight rates jumped 59%.

The company, set to publish full second-quarter earnings on Aug. 6, also reported preliminary second-quarter revenue of $14.2 billion and underlying EBITDA of $5.1 billion.

(Reporting by Nikolaj Skydsgaard and Stine Jacobsen; Editing by Susan Fenton)

© Reuters 2021
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Financials (USD)
Sales 2021 57 800 M - -
Net income 2021 15 037 M - -
Net Debt 2021 1 897 M - -
P/E ratio 2021 3,88x
Yield 2021 8,68%
Capitalization 56 610 M 56 645 M -
EV / Sales 2021 1,01x
EV / Sales 2022 1,05x
Nbr of Employees 83 624
Free-Float 43,6%
Duration : Period :
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Technical analysis trends A.P. MØLLER - MÆRSK A/S
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Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 3 089,72 $
Average target price 3 201,25 $
Spread / Average Target 3,61%
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Managers and Directors
Søren Skou Chief Executive & Operating Officer
Patrick Jany Chief Financial Officer & Executive Vice President
Jim Hagemann Snabe Chairman
Navneet Kapoor EVP, Chief Technology & Information Officer
Sven Arne Karlsson Independent Director