A.P. Møller – Mærsk has revised its full-year 2022 guidance up; the company now expects its full-year underlying EBITDA to be around US$30 billion (previously around US$24 billion).
APMM expects its 2022 underlying EBIT to be around US$24 billion (previously around US$19 billion) and a free cash flow above US$19 billion (previously above US$15 billion).
In a trading update, the company said the financial performance for the first quarter of 2022 was ahead of previous expectations. It reported its revenue for the quarter to be at US$19.3 billion, an underlying EBITDA of US$9.2 billion and an underlying EBIT of US$7.9 billion.
“The strong result is driven by the continuation of the exceptional market situation within Ocean, which has led to a 7% decline in volumes and an average 71% increase in freight rates compared to Q1 2021,” APMM said.
“Earnings guidance is still based on an assumption of normalisation in Ocean early in the second half of 2022. 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%.”
