BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - A.P. Moller - Maersk (AMKAF.PK, AMKBF.PK) reported full year profit of which A.P. Møller - Mærsk A/S' share of $17.94 billion compared to $2.85 billion, last year. EBIT increased to $19.67 billion from $4.19 billion. Underlying profit from continuing operations increased to $18.17 billion from $2.96 billion.
Full year 2021 revenue was up 55 percent to $61.8 billion. Within Ocean, profitability increased substantially with a revenue of $48.2 billion in 2021, compared to $29.2 billion, previous year, driven by high freight rates due to the ongoing impact from the pandemic that has resulted in disruptions of global supply chains.
'Exceptional market conditions led to record-high growth and profitability in A.P. Moller - Maersk, however it also led to supply chain disruptions and severe challenges for our customers,' Søren Skou, CEO of A.P. Moller - Maersk, said.
Fourth quarter EBIT was $6.63 billion compared to $1.59 billion, previous year. Consolidated revenue increased to $18.51 billion from $11.25 billion.
For full year 2022, A.P. Moller - Maersk expects: underlying EBITDA of around $24 billion; underlying EBIT of around $19 billion; and free cash flow of above $15 billion.
A.P. Moller - Maersk projects the current market situation to continue into second quarter 2022 with a normalisation to occur early in the second half of the year.
Copyright(c) 2022 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX