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Bloomberg
A P Moller-Maersk A/S, the world’s largest container carrier, unveiled an outlook that disappointed the market amid signs freight rates are close to peaking.
Shares in the Copenhagen-based company slumped about 8% when trading started in the Danish capital.
Underlying Ebitda for 2021 is expected to rise to between $8.5 billion and $10.5 billion, the Copenhagen-based company said on Wednesday. That compares with an average estimate of $10.46 billion in a Bloomberg survey of analysts. Ebitda came in at $8.3 billion last year, shy of $8.6 billion expected by analysts.
“The impression investors are left with is that earnings, for now, may have topped because the main driving force, namely high freight rates, has peaked,†said Per Hansen, an investment economist at Nordnet in Copenhagen.