Maersk reports strong results for 2022

Maersk records 28.4 billion euros gross profit

Maersk vessel in Hong Kong PortMaersk

The Danish shipping group A.P. Moller-Maersk looks back on a year of “exceptional financial performance”. Turnover increased by 32% in 2022 to just over 76 billion euros. Gross profit grew by 57% to around 28.4 billion euros. In 2023, such outliers are no longer expected.

Maersk refers to the “abnormal market conditions” in the first half of 2022 as the main driver of the record-breaking financial results. The company saw normalisation in the year’s second half, especially in the Ocean division, as congestion and consumer demand eased.

“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,” according to the company. Maersk does indicate that it wants to take advantage of growth opportunities in the Logistics and terminal divisions if they present themselves. For the whole of 2023, the group expects gross profit to be somewhere between 1.9 and 4.7 billion euros.

The high freight rates and strong market demand ensured that Ocean activities in particular performed well in 2022. Turnover grew by 33% to approximately EUR 60 billion. Growth at Logistics & Services was even just under 50%, but at approximately 13.4 billion euros, its share in the total turnover is much smaller than that of the sea freight division. Turnover also grew at the smallest business units, Terminals and Towage & Maritime Services, albeit at a significantly slower pace.

Author: Emma Dailey

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