Forwarders face profitability test as freight markets look set to stabilise
As global freight markets begin to show signs of stabilisation after months of disruption, the industry’s largest forwarders have shown ...
The preliminary Q2 21 figures released at 7.59pm CET on Monday by AP Møller-Mærsk (APMM) bring bittersweet memories of coverage by Premium in late May, when we outlined a mildly bullish scenario – now overly conservative, it seems – according to which a 2023 ebitda of $18.1bn was implied, for a 30% margin on ~$60bn of revenues.
That, on a net present value basis, pointed to a near-50% upside from trading levels of about Dkr17,000 a share some 10 weeks ago.
Now
While ...
Comment on this article