ID 5328998 © Nikolai Sorokin |

It’s analysis time for a $33.5bn-market-cap beast trying to find its inner strength in this downturn.

Denmark’s AP Møller-Mærsk (APMM) released today interim consolidated group numbers that were stronger than expected at operating income level* but was its Q1 23 free cash flow (FcF) leaving all of you bears speechless?

(*Pheewww… ergo: +$400m vs quarterly estimates I sighted, hitting $2.3bn Ebit for the first quarter of the year.)

Make no mistake: there are good and bad things to observe in the figures for what is ...

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