Maersk Investor Presentation Deck
Guidance
Guidance
Given the current momentum in the different businesses, A.P. Moller -
Maersk expects earnings before interest, taxes, depreciation and
amortisation (EBITDA) before restructuring and integration costs in the range
of USD 8.0bn-8.5bn as announced on 17 November 2020 from previously
between USD 7.5bn-8.0bn as announced 13 October 2020
The global demand growth for containers is expected to contract by 4-5% in
2020 due to COVID-19.
Organic volume growth in Ocean is now expected to be slightly below the
average market growth from previously in line with or slightly below the
market.
For 2020 the guidance on capital expenditures (CAPEX) is now expected to
be USD 1.5bn, and with the expectation of a high cash conversion (cash flow
from operations compared to EBITDA).
For the years 2021-2022 the accumulated CAPEX is expected to be USD 4.5-
5.5bn with the expectation of a high cash conversion. The previous guidance
on accumulated CAPEX for 2020-2021 was between USD 3.0-4.0bn.
22
Q3 2020 interim report
Sensitivity guidance
A.P. Moller - Maersk's financial performance for the full-year 2020 depends
on several factors and is subject to uncertainties related to COVID-19, bunker
fuel prices and freight rates combined with the weaker macroeconomic
conditions and other external factors.
Based on the expected earnings level and all else being equal, the sensitivities
for the rest of 2020 for four key assumptions are listed in the table below:
Factors
Container freight rate
Container freight volume
Bunker price (net of expected BAF
coverage)
Rate of exchange (net of hedges)
Change
+/- 100 USD/FFE
+/- 100,000 FFE
+/- 100 USD/tonne
+/- 10% change in USD
Effect on
EBITDA
(Rest of year)
+/- USD 0.3bn
+/- USD 0.1bn
-/+ USD 0.1bn
+/- USD 0.Obn
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