A. P. Moller Maersk A/S (LTS:0O77)
kr 11420 0 (0%) Market Cap: 176.42 Bil Enterprise Value: 154.45 Bil PE Ratio: 15.90 PB Ratio: 0.50 GF Score: 80/100

Q2 2022 AP Moeller - Maersk A/S Earnings Call Transcript

Aug 03, 2022 / 09:00AM GMT
Release Date Price: kr20362.44 (+5.08%)
Operator

Good morning, everybody, and thank you for joining us today for our second quarter 2022 earnings call. My name is Soren Skou. I'm the CEO of A.P. Møller - Maersk, and I'm joined today by CFO, Patrick Jany.

As you've already seen from our pre-release yesterday, we delivered an exceptionally strong second quarter 2022 with an EBITDA of USD 10.3 billion, EBIT of USD 9 billion. This is a new record for us, and it's, in fact, it's the 15th quarter in a row with year-on-year improvements in earnings.

As announced yesterday, we also increased our full year guidance to an EBIT operating result of around USD 31 billion. The upgrade is a consequence both of very strong Q2. And based on an expectation of an equally good Q3, driven by higher-than-expected contract rates in Ocean. This means that our 16th quarter with year-on-year earnings growth is in the making.

Our record of earnings growth over the last 4 years has been against the backdrop of U.S.-China trade war. The shift to more expensive low sulfur fuels in 2020 and pandemic lasting more than 2 years and now a real war in Europe

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