• 2023 February 8 14:02

    A. P. Moller – Maersk revenue increases by 32% to USD 81.5bn in 2022

    In 2022, A.P. Moller – Maersk (Maersk) delivered extraordinary financial performance in line with full-year guidance; revenue increased by 32% to USD 81.5bn, and EBIT increased 57% to USD 30.9bn, according to the company's release.

    Maersk has accelerated its business transformation, expanded the integrated logistics capabilities through acquired companies like Pilot, Senator and LF Logistics, and organically grown Logistics with more than 20%

    Maersk has defined precise roadmaps to reach its commitment to decarbonize logistics across all transport modes. 70% of the top 200 customers have set carbon goals and supporting them in reaching these goals is core to Maersk’s ESG strategy.

    In 2022, Ocean delivered the strongest result on record due to the high freight rates and strong demand, particularly in the first half of the year. Ocean revenue was up 33%. Throughout the year, Ocean continued to deliver on the strategic transformation, maintaining a stable level of long-term contracts. Ocean continued to improve on delivery performance over the year as congestion eased and was able to maintain strong margins due to the contractual nature of its customer relationship.

    In Logistics & Services, revenue increased by 47%, with an organic contribution of 21%. The organic revenue growth came primarily from top 200 customers as the business continues to develop integrated solutions to meet end to end supply chain needs. Growth was particularly strong in warehousing where the footprint more than doubled to 7.1m sqm with the acquisition of LF Logistics alone adding 198 warehouses or 3.1m sqm.

    In Terminals, EBIT adjusted for the Russia exit reached a record of USD 1.2bn, supported by solid volumes growth and high congestion related storage income. Based on a combination of tariff increases and efficiencies the impact of high global inflation has been mitigated.

    Guidance for 2023 is based on the expectation that inventory correction will be complete by the end of the first half leading to a more balanced demand environment. 2023 global GDP growth is expected to be muted and global ocean container market growth to be in a range of -2.5% to +0.5%. A.P. Moller-Maersk expects to grow in-line with the market.

    Based on these assumptions, for the full year 2023, A.P. Moller-Maersk expects an underlying EBITDA of USD 8.0-11.0bn, an underlying EBIT of USD 2.0-5.0bn, and free cash flow (FCF) of at least USD 2.0bn. The CAPEX guidance for 2022-2023 of USD 9.0-10.0bn is maintained. 

    A.P. Moller - Maersk is an integrated logistics company working to connect and simplify its customers’ supply chains. The company operates in more than 130 countries and employs over 100,000 people world-wide. Maersk is aiming to reach net zero emissions by 2040 across the entire business with new technologies, new vessels, and green fuels.




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