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22 May 2022 The on-line newspaper devoted to the world of transports 18:33 GMT+2

May 4, 2022

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New record quarter for Maersk as the decline is accentuated of containerized cargoes transported by the fleet

The Danish group has archived the first three months of this year with a net profit of 6,8 billion dollars (+150.6%)

In the first three months of this year the Danish shipowning group A.P. Møller-Mærsk recorded the best results long-standing financials thanks to the record performance of the division Ocean which constitutes the core business of the company and operates mainly containerized maritime transport services. In the first quarter of 2022, the group's revenues reached historical peak of 19.3 billion dollars, with an increase of +55.1% on the same period last year. Record values are EBITDA and EBIT were also marked respectively to 9.1 billion (+124.9%) and 7.3 billion dollars (+134.8%), as well as net profit which was equal to 6.8 billion dollars (+150.6%).

The Ocean division alone, focused on the activity of the shipping companies Maersk Line, Hamburg Süd, Aliança and Sealand and the group's hub activity terminalista APM Terminals, totaled record revenues of 15.6 billion dollars (+64.3%), of which 13.6 billion generated directly from the activity of maritime transport of goods (+65.3%) and 2.0 billion from other activities including those terminal (+57.5%). Operating costs were 7.3 billion dollars (+20.9%), of which 2.5 billion in costs of container handling (+7.7%), over 1.6 billion in costs of fuels (+51.0%), less than 2.0 billion in operating costs of the service network (+19.1%), 677 million dollars in costs administrative and management (+3.5%) and 432 million in other costs (+70,8%). EBITDA reached a record 8.2 billion dollars (+138.5%) and a new high was also reached operating profit of almost 7.1 billion dollars (+161.9%).

If the financial performance of the Ocean division is continue to grow by continuing the exceptionally positive trend ongoing since the end of 2020, in the first quarter of this year, as well as in the previous two quarters, cargo volumes containerized transported by the fleet have instead decreased having been found to be equal to 3.0 million 40-foot containers (feu), with a decrease of -6.7% on the corresponding period of 2021, of of which 1.4 million feu transported on east-west routes (-6.7%), 904 thousand teu on the north-south routes (-7.2%) and 669 thousand teu from services intra-regional (-6.0%). The average freight value was found equal to 4,553 dollars/feu (+71.0%), with an average freight of 4,898 dollars/feu for east-west services only (+83.6%), one freight average of $5,361/feu for north-south maritime services alone (+59.7%) and an average freight of $2,896/feu for services intra-regional (+8.8%).

The only terminal sector of the Danish group closed the first quarter of 2022 with record financial results starting revenues of over $1.1 billion compared to $915 billion million in the same period last year and EBITDA of $675 million versus $323 million in the first quarter of 2021.

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