A.P. Moller – Maersk upgrades expectations for Q3 and 2020 full year guidance

posted on 13th October 2020 by Eddie Saunders
A.P. Moller - Maersk upgrades expectations for Q3 and 2020 full year guidance

A.P. Moller – Maersk is changing its full-year guidance for 2020 based on preliminary Q3 figures and the current outlook for Q4.

Søren Skou, CEO of A.P. Moller – Maersk says: “A.P. Moller – Maersk is on track to deliver a strong Q3 with solid earnings growth across all our businesses, in particular in Ocean and Logistics & Services. Volumes have rebounded faster than expected, our cost have remained well under control, freight rates have increased due to strong demand and we are growing earnings rapidly in Logistics & Services. The outlook for Q4 is solid for the same reasons, and we are therefore able to upgrade our expectations for the full year. 

The outlook for 2021 remains uncertain due to the ongoing pandemic. The positive impact from stimulus packages may be less strong in 2021, potential new lock downs will impact demand and the timing and effectiveness of a potential vaccine will impact 2021.”