In a statement, Maersk said its strong result was “driven by the continuation of the exceptional market situation within Ocean.”
The company added that congestion in global supply chains was “leading to higher freight rates has continued longer than initially anticipated.”
As a consequence of this, Maersk says its full year guidance for 2022 has been revised upwards with underlying EBITDA now expected to be around USD 37bn (previously around USD 30bn) and underlying EBIT expected around USD 31bn (previously around USD 24bn).
Moreover, the company’s free cash flow (FCF) for the full-year 2022 is now expected to be above USD 24bn (previously above USD 19bn), while the cumulative capex guidance for 2022-23 is unchanged of USD 9.0-10.0bn.
Maersk concluded its statement by saying its 2022 guidance is currently based on a gradual normalization in Ocean taking place in the fourth quarter of 2022. Full Q2 results shall be published tomorrow.
Photo by Galen Crout on Unsplash