On the back of an 80% freight rate increase in Q4 2021 compared to previous year, A.P. Møller – Mærsk’s preliminary unaudited financials are now expected to come in ahead of previous expectations with revenue of US$18.5 billion, an underlying Ebitda (*) of US$8bn and an underlying Ebit (**) of US$6.8bn.
While ocean freight volumes decreased by 4%, the strong result “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,” according to a statement.
“Consequently, given the strong performance in Q4 2021, the preliminary full-year figures for 2021 will exceed our previous guidance, as stated in the interim report dated November 2, 2021, now reporting an underlying Ebitda of US$24bn (previous guidance of US$22-23bn), an underlying Ebit of US$19.8bn (previous guidance US$18-19bn) and a free cash flow of US$16.4bn (previous guidance minimum US$14.5bn).
APMM will provide a revised outlook for Q1 2022 and full-year 2022 as part of the Annual Report 2021 which will be published on February 9, 2022.
* Earnings Before Interest, Taxes, Depreciation, and Amortization.
** Earnings Before Interest and Taxes.