A.P. Moller - Maersk reiterates its guidance still expecting earnings before interests, tax, depreciation and amortisations (EBITDA) of around USD 5.0bn.
The organic volume growth in Ocean is still expected to be in line with the estimated average market growth of 1-3% for 2019. Guidance is maintained on gross capital expenditures (CAPEX) around USD 2.2bn and a high cash conversion (cash flow from operations compared with EBITDA).
The guidance continues to be subject to considerable uncertainties due to the current risk of further restrictions on global trade and other external factors impacting container freight rates, bunker prices and foreign exchange rates.