Its revenue in the three-month period that ended 30 June stood at $21.7bn, an increase of $7.4bn, or 52%, from $14.2bn in Q2 2021.
This growth was driven by revenue increases in the ocean, logistics and services, and terminal segments.
The Danish firm’s profits soared from $3.7bn to $8.6bn over the period.
Its earnings before interest, taxes, depreciation and amortisation (EBITDA) increased from $5.1bn to $10.3bn. Profit before financial items (EBIT) rose from $4.1bn to $9bn.
Driven by improved cash flows from operating activities and higher capitalised lease instalments, Maersk’s free cash flow increased from $3.2bn to $6.8bn.
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The company’s revenue in the first six months of 2022 was $40.9bn, compared to $26.6bn in the same period last year. First half profit jumped 139% year-on-year to $15.4bn
During this time, EBITDA increased from $9.1bn to $19.4bn, while EBIT rose from $7.2bn to $16.3bn.
The company has now revised its free cash flow outlook for FY22 to more than $24bn. The earlier forecast was more than $19bn.
The outlook for annual underlying EBITDA has been lifted to nearly $37bn, from the earlier estimate of approximately $30bn, while that of underlying EBIT has been revised to nearly $31bn, from the previous forecast of almost $24bn.
The company anticipates Q3 to be in line with Q2 but warns of weakening in the year’s final quarter.
Furthermore, it has raised the existing share repurchase programme for 2022-2025 by $500m to $3bn.
Maersk also stated that it is winding down its activities in Russia and will reach a complete exit from the country.
The company has discontinued all services to and from Russia and is in the process of divesting assets, which include a 30.75% stake in Global Ports Investments (GPI).