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    MAERSK B   DK0010244508

A.P. MØLLER - MÆRSK A/S

(MAERSK B)
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Maersk quarterly earnings beat expectations

01/14/2022 | 10:00am EST
Crew members look out from the MV Maersk Mc-Kinney Moller, as it berths during its maiden port of call at a PSA International port terminal in Singapore

COPENHAGEN (Reuters) - Shipping group Maersk on Friday posted better than expected fourth-quarter revenue and earnings, fuelled by record freight rates for container shipping.

A fall in ocean-going container volumes by 4% in the last three months of the year was more than offset by freight rates improving 80% compared with a year earlier.

"The strong result in the quarter reflects the continuation of the exceptional market situation within (the) Ocean (division) caused by global disruptions to supply chains, which have led to further increase in container freight rates," Maersk said in a statement.

Underlying earnings before interest, tax, depreciation and amortization (EBITDA) totalled $8 billion, above guidance given by the company in November and the $7 billion expected by analysts in a Refinitiv poll.

Revenue stood at $18.5 billion, against $17.5 billion expected by analysts.

The company will publish full financial results on Feb. 9.

(Reporting by Jacob Gronholt-Pedersen; Editing by David Goodman)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
A.P. MØLLER - MÆRSK A/S 0.09% 22340 Delayed Quote.-4.82%
ON SEMICONDUCTOR CORPORATION -6.38% 59.01 Delayed Quote.-13.12%
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Analyst Recommendations on A.P. MØLLER - MÆRSK A/S
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Financials (USD)
Sales 2021 61 171 M - -
Net income 2021 17 890 M - -
Net cash 2021 1 977 M - -
P/E ratio 2021 3,63x
Yield 2021 11,5%
Capitalization 61 255 M 61 314 M -
EV / Sales 2021 0,97x
EV / Sales 2022 0,81x
Nbr of Employees 83 624
Free-Float 42,2%
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Number of Analysts 20
Last Close Price 3 401,84 $
Average target price 3 761,37 $
Spread / Average Target 10,6%
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Managers and Directors
Søren Skou Chief Executive & Operating Officer
Patrick Jany Chief Financial Officer & Executive Vice President
Jim Hagemann Snabe Chairman
Navneet Kapoor EVP, Chief Technology & Information Officer
Sven Arne Karlsson Independent Director