Photo: Wolfgang Fricke, CC BY 3.0, via Wikimedia Commons

Maersk records higher Q4 2021 revenue than originally forecast

Amid the continuation of high shipping rates rising further still, Maersk has somewhat unsurprisingly recorded Q4 2021 revenues that are even higher than originally forecast.

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In a statement published on Friday, Maersk said its Q4 2021 recognised preliminary unaudited financials were ahead of the previous expectations with revenue of USD 18.5bn, an underlying EBITDA of USD 8bn and an underlying EBIT of USD 6.8bn. Volumes in Ocean decreased by 4% and average freight rates improved by 80% in Q4 2021 compared to previous year.

The company said 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.”

“Consequently, given the strong performance in Q4 2021 the preliminary full-year figures for 2021 will exceed our previous guidance, as stated in the Interim Report dated 2 November 2021, now reporting an underlying EBITDA of USD 24bn (previous guidance of USD 22-23bn), an underlying EBIT of USD 19.8bn (previous guidance USD 18-19bn) and a free cash flow (FCF) of USD 16.4bn (previous guidance minimum USD 14.5bn),” Maersk’s statement read.

The company added that it would give a revised outlook for Q1 2022 and full-year 2022 as part of the Annual Report 2021, which is to be published on 9 February 2022.

Photo: Wolfgang Fricke, CC BY 3.0, via Wikimedia Commons