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Maersk predicts $20 billion operating profit in ‘exceptional’ 2021

Stourton Freightliner Terminal, Leeds, UK - November 25, 2021.  A low angle view of a crane lifting and loading a Maersk shipping container onto a freight train for onward transportation
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A.P. Møller – Mærsk (Maersk) has reported revenues of $18.5 billion for the fourth quarter this year as carrier profits continue to roll in.

Preliminary full-year figures for 2021 will now exceed Maersk’s previous guidance on 2 November.

Maersk is now reporting an underlying EBITDA of $24 billion, at least $1 billion up from previous expectations.

For underlying EBIT, operating profit, Maersk now forecasts 2021 numbers to reach $19.8 billion. Previous guidance was between $18-19 billion.

In the fourth quarter of 2021, the Danish carrier reported an underlying EBITDA of $8 billion and EBIT of $6.8 billion.

READ: Ocean lines making near $80 billion in operating profit for year so far

Free cash flow are predicted to reach $16.4 billion, Maersk added.

“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,” Maersk wrote.

Volumes in the firm’s Ocean sector decreased by 4% and average freight rates rose by 80% in Q4 2021 compared to previous year.

APMM will give a revised outlook for Q1 2022 and full-year 2022 as part of the Annual Report 2021 that will be published on 9 February 2022. 

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