May 13, 2020 / 6:16 AM / 2 months ago

Maersk meets Q1 revenue forecasts but warns on container sector outlook

COPENHAGEN, May 13 (Reuters) - Shipping group A.P. Moller-Maersk 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.

Reporting by Jacob Gronholt-Pedersen; editing by Jason Neely

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