A. P. Moller – Maersk reports strong results for 2022

• In 2022, A.P. Moller – Maersk (Maersk) delivered extraordinary financial performance in line with full-year guidance; Revenue increased by 32% to USD 81.5bn, and EBIT increased 57% to USD 30.9bn
  
• Maersk has accelerated its business transformation, expanded the integrated logistics capabilities through acquired companies like Pilot, Senator and LF Logistics, and organically grown Logistics with more than 20%
  
• Maersk has defined precise roadmaps to reach its commitment to decarbonize logistics across all transport modes. 70% of the top 200 customers have set carbon goals and supporting them in reaching these goals is core to Maersk’s ESG strategy
  
• While the slow-down of the global economy will lead to a softer market in particular in Ocean, Maersk will continue to pursue the growth opportunities within the Logistics and Terminals businesses
  
• In this context, Maersk gives 2023 full year EBIT guidance of USD 2-5bn
  

2022 was an exceptionally strong year for Maersk. The unprecedented financial results were driven by solid performance across all businesses during the abnormal market conditions in the first part of the year. As congestions eased and declining consumer demand led to a significant de-stocking in all segments, the expected normalization of the Ocean market kicked in during the final stretch of year.

“2022 was remarkable in more than one way. While we report the best financial result in the history of the company, we have also taken the partnerships with our customers to a new level by supporting their supply chains end to end during highly disruptive times. Our commitment to provide visibility and truly integrated logistics solutions continue to resonate strongly with our customers for whom it is a strategic imperative to make their supply chains more resilient and sustainable. As we enter a year with challenging macro-outlook and new types of uncertainties for our customers, we are determined to speed up our business transformation and increase our operational excellence to seize the unique opportunities in front of us,” says Vincent Clerc, CEO of A.P. Moller – Maersk.

In 2022, Ocean delivered the strongest result on record due to the high freight rates and strong demand, particularly in the first half of the year. Ocean revenue was up 33%. Throughout the year, Ocean continued to deliver on the strategic transformation, maintaining a stable level of long-term contracts. Ocean continued to improve on delivery performance over the year as congestion eased and was able to maintain strong margins due to the contractual nature of its customer relationship.

In Logistics & Services, revenue increased by 47%, with an organic contribution of 21%. The organic revenue growth came primarily from top 200 customers as the business continues to develop integrated solutions to meet end to end supply chain needs. Growth was particularly strong in warehousing where the footprint more than doubled to 7.1m sqm with the acquisition of LF Logistics alone adding 198 warehouses or 3.1m sqm.

In Terminals, EBIT adjusted for the Russia exit reached a record of USD 1.2bn, supported by solid volumes growth and high congestion related storage income. Based on a combination of tariff increases and efficiencies the impact of high global inflation has been mitigated.