COPENHAGEN (dpa-AFX) - Danish container logistics company A.P. Moller - Maersk A/S (AMKAF.PK, AMKBF.PK) Tuesday reported that its second-quarter financial performance was ahead of previous expectations driven by the continuation of the exceptional market situation within Ocean.
For the quarter, revenue was $21.7 billion, underlying EBITDA was $10.3 billion, and underlying EBIT was $8.9 billion.
Looking ahead, the company has revised fiscal 2022 outlook upwards with underlying EBITDA now expected to be around $37 billion, compared to previously expected around $30 billion, Underlying EBIT is now expected around $31 billion, higher than previous estimate of around $24 billion.
The free cash flow or FCF for the full-year 2022 is now expected to be above $24 billion, while previous outlook was above $19 billion.
The company said the 2022 guidance is currently based on a gradual normalization in Ocean taking place in the fourth quarter of 2022.
A.P. Moller - Maersk will publish its second-quarter result on August 3.
AP Moeller Maersk shares were trading at 20,060 krone, up 1.52 percent.
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