As announced on 21 October 2019, A.P. Moller – Maersk expects earnings before interest, taxes, depreciation and amortisation (EBITDA) in the range of USD 5.4-5.8bn from previously around USD 5.0bn.
The organic volume growth in Ocean is expected to be in line with or slightly lower than the average market growth, which is expected to be in the range of 1-2% for 2019, compared to previously an expected market growth of 1-3%.
Guidance on gross capital expenditures (CAPEX) is maintained of around USD 2.2bn (FY 2018 USD 3.2bn) and a high cash conversion (cash flow from operations compared to EBITDA).
Accumulated CAPEX for 2020-2021 is expected to be USD 3.0-4.0bn.
Guidance continues to be subject to uncertainties due to the weaker macroeconomic conditions and other external factors impacting container freight rates, bunker prices and foreign exchange rates.