Maersk’s strong 2021 fourth quarter rises full-year profit predictions
AP Moller – Maersk has reported revenue of US$18.5 billion, earnings before interest, taxes, depreciation, and amortization (EBITDA) of US$8 billion and EBIT of US$6.8 billion for the fourth quarter of 2021.
At the same time, 2021 Q4 volumes in the ocean sector have decreased by 4%, but average freight rates improved by 80% compared to the previous year’s levels.
“The strong result in the quarter reflects the continuation of the exceptional market situation within Ocean caused by the global disruptions to the supply chains, which have led to further increase in container freight rates,” commented Maersk in a statement.
Consequently, given the strong performance in the last quarter of 2021 the preliminary full-year figures for 2021 will exceed the company’s previous guidance, as stated in the Interim Report dated 2 November 2021.
Maersk is now expecting an underlying EBITDA of US$24 billion from US$22-23 billion, an underlying EBIT of US$19.8 billion from US$18-19 billion and a free cash flow (FCF) of US$16.4 billion from US$14.5 billion.
AP Moller Maersk said it will give a revised outlook for the first quarter of 2022 and full-year 2022 as part of the Annual Report 2021 that will be published on 9 February 2022.