Higher freight rates push Maersk Q4 profit to $8bn

January 14, 2022: A.P. Møller-Mærsk (Maersk) has recognised preliminary unaudited financials for the fourth quarter ended December 31, 2021 ahead of the previous expectations with revenue of $18.5 billion, an underlying EBITDA of $8 billion and an underlying EBIT of $6.8 billion. 

While volumes in ocean declined 4 percent, average freight rates improved 80 percent in Q4 2021 compared to the previous year.

"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," the official statement said

Based on the Q4 numbers, Maersk is expecting full-year figures for 2021 to exceed previous guidance. The carrier is likely to report an underlying EBITDA of $24 billion (previous guidance of $22-23 billion), an underlying EBIT of $19.8 billion (previous guidance $18-19 billion) and a free cash flow (FCF) of $16.4 billion (previous guidance minimum $14.5 billion).

Maersk will publish the Annual Report 2021 on February 9, 2022.