Maersk hikes 2022 EBITDA guidance to $37bn

Danish carrier Maersk has increased its full-year (2022) guidance upwards to EBITDA of $37 billion (earlier estimate of $30 billion) and EBIT to around $31 billion (earlier estimate of $24 billion).

"Maersk has recognised for the second quarter of 2022 a financial performance ahead of our previous expectations with a revenue of $21.7 billion, an underlying EBITDA of $ 10.3 billion and an underlying EBIT of $8.9 billion. The strong result is driven by the continuation of the exceptional market situation within the ocean," says an official release ahead of the results announcement tomorrow (August 3, 2022).

Congestion in global supply chains leading to higher freight rates has continued longer than initially anticipated, the statement added.

"The free cash flow (FCF) for the full-year 2022 is now expected to be above $24 billion (previously above $19 billion) while the cumulative capex guidance for 2022-23 is unchanged at $9-10 billion."

The full-year guidance is currently based on a gradual normalisation in the ocean taking place in the fourth quarter of 2022, the statement added.