Independent journal on economy and transport policy
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SHIPPING
Maersk reports record annual financial performance despite a negative fourth quarter
In 2022 the cargos transported by the ships are diminished of -8.9%
Copenhagen
February 8, 2023
The Danish shipowning group A.P. Møller-Mærsk has Archived 2022 with record financial results and significantly higher than the already high ones of the 2021 financial year when the previous annual historical peak was marked. The A new remarkable performance was achieved despite the Fourth quarter of 2022 the results recorded a decrease, the first after eight quarterly periods of sustained growth, while still reaching conspicuous values and, for this reason, time of year, lower only than those of the last quarter of the year 2021 when the most financial results were obtained high ever relative to the period October-December.
Last year the group's revenues amounted to the figure record of 81,53 billion dollars, with a rise of +32.0% on the 2021. Values never reached before were also marked EBITDA and operating profit, which grew respectively +53.2% and +56.9% to 36.81 billion and 30.86 billions of dollars. A new historical peak has been reached also from the net profit which was 29.32 billion dollars (+62.6%).
Record amounts were also marked by activities alone of containerized maritime transport, which constitute the core business of the Danish group, starting from the revenues that last year have been pairs to 64,30 billion dollars (+33.3%), of which 56,50 billion (+33.3%) generated directly from the maritime services of line. EBITDA and EBIT also in this business segment reached new historical peaks of 33.77 billion (+57.6%) and 29.15 billion dollars (+62.3%). These Significant financial performance was achieved thanks to values Record shipping tariffs, with an average freight rate for 40' container (FEU) transported that last year was of 4.628 dollars (+39.5%), and despite the volumes transported by the fleet of the group are diminished of -8,9% coming down to 11,92 million feu, volume that is lower not only than that totaled in 2021 but also those obtained in 2020 (12.63 million feu) and in 2019 when the record was set historical with 13.30 million feu. In addition, the significant increase in turnover was only partially offset by an increase in operating costs that in 2022 amounted to 30.59 billion dollars, with a progression of +14.3% on the year previous which was generated mainly by inflation of the costs for the purchase of the bunker which amounted to 8.08 billion dollars (+50.4%).
In the fourth quarter of 2022 alone, the group recorded Revenues pairs to 17,82 billion dollars, with a bending of the -3,7% on the corresponding period of the previous year. The margin gross operating has been of 6,54 billion (- 18.1%), the profit operating of 5,12 billion (- 22.8%) and profit clearly of 4,98 billion of dollars (-18.5%).
In the period October-December last year the revenues produced from the only activities of containerized maritime transport have been pairs to 13,30 billion dollars (- 8.8%), of which 11,58 billion (-9.6%) generated directly by maritime services. The segment operating costs amounted to €7.29 billion (-0.4%), of which 1.83 billion for the purchase of marine fuels (+17,3%). EBITDA was 6,03 billion (-17.8%) and EBIT of 4,82 billion dollars (- 24.1%).
In the fourth quarter of 2022, the group's container ships Transported loads totalling FEU 2.81 million (-14,0%). The average freight value for the period was of 3,869 dollars/feu (-3.5%).
Maersk predicts that in 2023 the growth of the containerized sea transport will be between a decline of -2.5% and an increase of +0.5% and the Danish group believes that the own growth will be in line with the market.
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