Maersk raises 2022 guidance, likely to earn $30bn on strong rates

Danish carrier A.P. Moller-Maersk (Maersk) has revised its full year guidance for 2022 upwards to underlying EBITDA of around $30 billion (earlier expectation of around $24 billion), and a free cash flow above $19 billion (previously above $15 billion).

Mærsk has realised revenue of $19.3 billion for the first quarter of 2022 ahead of previous expectations with an underlying EBITDA of $9.2 billion. "The strong result is driven by the continuation of the exceptional market situation within the ocean, which has led to a 7 percent decline in volumes and an average 71 percent increase in freight rates compared to Q1 2021," an official statement said.

The current earnings guidance is still based on an assumption of normalisation in the ocean early in the second half of 2022, the statement added. "Based on volume developments in the first quarter, APMM has revised downwards its outlook for the growth of global container demand from 2-4% to -1/+1%."

Maersk will publish its Q1 interim result on May 4, 2022.