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Maersk meets first-quarter revenue forecasts but warns on container sector outlook

Published 05/13/2020, 02:22 AM
Updated 05/13/2020, 02:25 AM
© Reuters. FILE PHOTO: The ship Anna Maersk is docked at Roberts Bank port carrying 69 containers of mostly paper and plastic waste returned by the Philippines

COPENHAGEN (Reuters) - Shipping group A.P. Moller-Maersk (CO:MAERSKb) posted first-quarter revenue in line with expectations on Wednesday but warned about a drop of as much as 25% in global container volumes in the second quarter.

Earnings before interest, tax, depreciation and amortisation (EBITDA) stood at $1.52 billion, slightly above company guidance provided in March when it suspended full-year guidance due to uncertainty caused by the coronavirus pandemic.

The world's biggest container shipping company reported revenue of $9.57 billion versus the $9.59 billion forecast by 16 analysts in a poll compiled by Maersk.

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