Financials AP Moller Maersk

Equities

MAERSK B

DK0010244508

Marine Freight & Logistics

Market Closed - Nasdaq Copenhagen Other stock markets 11:20:00 2025-06-13 am EDT			5-day change	1st Jan Change
12,630.00 ^DKK	+4.12%		+2.35%	+6.09%

Jun. 13	Busiest US seaport takes hit from 145% China tariffs, worries remain	RE
Jun. 13	European shares tumble as Israel-Iran conflict escalates	RE

Projected Income Statement: AP Moller Maersk

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	39,740	61,787	81,529	51,065	55,482	49,916	48,882	50,716
Change	-	55.48%	31.95%	-37.37%	8.65%	-10.03%	-2.07%	3.75%
EBITDA ¹	8,226	24,036	36,813	9,591	12,128	7,319	6,207	6,961
Change	-	192.2%	53.16%	-73.95%	26.45%	-39.66%	-15.18%	12.13%
EBIT ¹	4,186	19,674	30,860	3,934	6,499	1,792	1,173	1,274
Change	-	370%	56.86%	-87.25%	65.2%	-72.43%	-34.56%	8.67%
Interest Paid ¹	-879	-944	-629	428	317	-710.1	-403.8	-496.1
Earnings before Tax (EBT) ¹	3,307	18,730	30,231	4,362	6,816	1,664	-73.9	955.3
Change	-	466.37%	61.4%	-85.57%	56.26%	-75.59%	-104.44%	1,392.65%
Net income ¹	2,850	17,942	29,198	3,822	6,109	996.6	21.63	1,426
Change	-	529.54%	62.74%	-86.91%	59.84%	-83.69%	-97.83%	6,491.7%
Announcement Date	2/10/21	2/9/22	2/8/23	2/8/24	2/6/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1
Net sales ¹	8,997	9,917	11,255	12,439	14,230	16,612	18,506	19,292	21,650	22,767	17,820	14,207	12,988	12,129	11,741	12,355	12,771	15,762	14,594	13,321	12,293	12,247	11,652	10,908	11,201	12,038	11,568	12,671
Change	-	10.23%	13.49%	10.52%	14.4%	16.74%	11.4%	4.25%	12.22%	5.16%	-21.73%	-20.27%	-8.58%	-6.61%	-3.2%	5.23%	3.37%	23.42%	-7.41%	-8.72%	-7.72%	-0.37%	-4.86%	-6.39%	2.68%	7.48%	-3.91%	9.54%
EBITDA ¹	1,697	2,297	2,711	4,039	5,064	6,943	7,990	9,084	10,327	10,862	6,540	3,969	2,905	1,878	839	1,590	2,144	4,797	3,597	2,710	1,602	1,262	688.9	1,007	1,108	1,422	1,493	1,727
Change	-	35.36%	18.02%	48.99%	25.38%	37.11%	15.08%	13.69%	13.68%	5.18%	-39.79%	-39.31%	-26.81%	-35.35%	-55.32%	89.51%	34.84%	123.74%	-25.02%	-24.66%	-40.89%	-21.19%	-45.43%	46.14%	10.1%	28.32%	4.95%	15.7%
EBIT ¹	751	1,289	1,594	3,097	4,084	5,859	6,634	7,273	8,988	9,477	5,122	2,326	1,607	538	-537	177	963	3,309	2,050	1,253	99.33	-147.9	-23.93	-	-980	-	-	-
Change	-	71.64%	23.66%	94.29%	31.87%	43.46%	13.23%	9.63%	23.58%	5.44%	-45.95%	-54.59%	-30.91%	-66.52%	-199.81%	132.96%	444.07%	243.61%	-38.05%	-38.88%	-92.07%	-248.94%	83.83%	-	-	-	-	-
Charge d'intérêts ¹	-232	-160	-272	-230	-186	-185	-343	-294	-203	-303	171	190	-16	153	101	151	13	-51	204	177	-244.6	-236.7	-143.3	-27	-34.5	-29	-32	-
Earnings before Tax (EBT) ¹	519	1,129	1,322	2,867	3,898	5,674	6,291	6,979	8,785	9,174	5,293	2,516	1,591	691	-436	328	976	3,258	2,254	1,430	526.8	-31.01	-786.9	-884	-760.5	-491	-326	-
Change	-	117.53%	17.09%	116.87%	35.96%	45.56%	10.87%	10.94%	25.88%	4.43%	-42.3%	-52.47%	-36.76%	-56.57%	-163.1%	175.23%	197.56%	233.81%	-30.82%	-36.56%	-63.16%	-105.89%	-2,437.11%	-12.34%	13.97%	35.44%	33.6%	-
Net income ¹	427	927	1,299	2,697	3,713	5,438	6,094	6,776	8,593	8,879	4,950	2,284	1,453	521	-436	177	798	3,049	2,085	1,162	177.4	-27.6	-529.5	-583.8	-485.5	-127.8	-763.8	108.8
Change	-	117.1%	40.13%	107.62%	37.67%	46.46%	12.06%	11.19%	26.82%	3.33%	-44.25%	-53.86%	-36.38%	-64.14%	-183.69%	140.6%	350.85%	282.08%	-31.62%	-44.27%	-84.73%	-115.55%	-1,818.82%	-10.24%	16.83%	73.68%	-497.62%	114.25%
Announcement Date	8/19/20	11/18/20	2/10/21	5/5/21	8/6/21	11/2/21	2/9/22	5/4/22	8/3/22	11/2/22	2/8/23	5/4/23	8/4/23	11/3/23	2/8/24	5/2/24	8/7/24	10/31/24	2/6/25	5/8/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: AP Moller Maersk

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	9,232	-1,530	-12,632	-4,658	-7,373	-2,323	1,853	4,124
Change	-	-116.57%	-725.62%	63.13%	-58.29%	68.49%	179.77%	122.56%
Announcement Date	2/10/21	2/9/22	2/8/23	2/8/24	2/6/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: AP Moller Maersk

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	1,322	2,976	4,163	3,646	4,201	5,840	4,978	4,948
Change	-	125.11%	39.89%	-12.42%	15.22%	39.02%	-14.76%	-0.61%
Free Cash Flow (FCF) ¹	6,804	19,046	30,313	5,997	7,207	157.3	-1,574	-1,616
Change	-	179.92%	59.16%	-80.22%	20.18%	-97.82%	-1,100.11%	-2.67%
Announcement Date	2/10/21	2/9/22	2/8/23	2/8/24	2/6/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: AP Moller Maersk

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	20.7%	38.9%	45.15%	18.78%	21.86%	14.66%	12.7%	13.72%
EBIT Margin (%)	10.53%	31.84%	37.85%	7.7%	11.71%	3.59%	2.4%	2.51%
EBT Margin (%)	8.32%	30.31%	37.08%	8.54%	12.29%	3.33%	-0.15%	1.88%
Net margin (%)	7.17%	29.04%	35.81%	7.48%	11.01%	2%	0.04%	2.81%
FCF margin (%)	17.12%	30.83%	37.18%	11.74%	12.99%	0.32%	-3.22%	-3.19%
FCF / Net Income (%)	238.74%	106.15%	103.82%	156.91%	117.97%	15.79%	-7,274.96%	-113.31%
Profitability
ROA	5.11%	28.16%	35.19%	4.35%	7.18%	1.88%	-1.13%	-0.54%
ROE	9.84%	48.63%	53.82%	6.48%	11.01%	2.76%	0.98%	2.92%
Financial Health
Leverage (Debt/EBITDA)	1.12x	-	-	-	-	-	0.3x	0.59x
Debt / Free cash flow	1.36x	-	-	-	-	-	-1.18x	-2.55x
Capital Intensity
CAPEX / Current Assets (%)	3.33%	4.82%	5.11%	7.14%	7.57%	11.7%	10.18%	9.76%
CAPEX / EBITDA (%)	16.07%	12.38%	11.31%	38.01%	34.64%	79.8%	80.2%	71.08%
CAPEX / FCF (%)	19.43%	15.63%	13.73%	60.8%	58.29%	3,711.92%	-316.39%	-306.27%
Items per share
Cash flow per share ¹	398.8	1,151	1,883	572	723	428	380.1	410.6
Change	-	188.67%	63.6%	-69.63%	26.4%	-40.8%	-11.19%	8.02%
Dividend per Share ¹	55	381	623	74	155	34.99	26.75	51.67
Change	-	592.73%	63.52%	-88.12%	109.46%	-77.42%	-23.55%	93.14%
Book Value Per Share ¹	1,521	2,379	3,506	3,207	3,609	3,642	3,581	3,532
Change	-	56.47%	47.36%	-8.52%	12.53%	0.9%	-1.66%	-1.37%
EPS ¹	145	938	1,595	227	387	72.67	10.76	96.76
Change	-	546.9%	70.04%	-85.77%	70.48%	-81.22%	-85.19%	798.93%
Nbr of stocks (in thousands)	19,408	18,715	17,649	16,007	15,746	15,298	15,298	15,298
Announcement Date	2/10/21	2/9/22	2/8/23	2/8/24	2/6/25	-	-	-