COPENHAGEN (Reuters) -Maersk on Thursday reported fourth-quarter profits below expectations and said it expects 2024 earnings well below last year’s level amid oversupply of container vessels although uncertainty remains around the impact from Red Sea disruptions.
The company said it expects underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of between $1 billion and $6 billion this year, compared with $9.6 billion achieved last year.
“High uncertainty remains around the duration and degree of the Red Sea disruption with the duration from one quarter to full year reflected in the guidance range,” the company said in a statement.
EBITDA dropped to $839 million in the fourth quarter from $6.54 billion a year earlier, lagging analysts’ expectations of $1.13 billion.
(Reporting by Jacob Gronholt-Pedersen, editing by Stine Jacobsen)