The world’s biggest shipper, Denmark’s A.P. Moeller-Maersk, said Wednesday that 2022 was its most profitable year in “the history of the company” but warned that a plunge in container volumes and freight rates would lead to a drop in earnings this year.
Full-year revenue increased by 32%, to $81.5 billion from $61.8 billion in 2021. In the last three months of the year, revenue of $17.8 billion dropped from $18.5 billion in the same period in 2021.
Profits before taxes for 2022 came in at $30.2 billion, up from $18.7 billion in 2021. In the fourth quarter, they landed at $5.3 billion, down from $6.3 billion in the fourth quarter a year earlier.
Last year “was remarkable in more than one way,” Maersk CEO Vincent Clerc said. “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.”
The Copenhagen-based company said the economic outlook shifted during 2022 and “after a strong start to the year, new shocks weighed on economic activity and supply chains.”
“ High inflation, inventory build and a rebalancing toward spending on services reduced demand for goods, bringing global trade back to pre-pandemic levels,” Maersk said.
This year, economic and trade growth “are expected to be weak. Demand for consumer goods is slowing, and the inventory correction is weighing on the near-term outlook,” the shipping company said.
It expected a range of 2.5% contraction to 0.5% expansion in the global ocean container market.
“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,” Clerc said, AP reports.
See all the news
"Georgia will be faithful to the European path... I serve this path" - Ambassador of Georgia to France
Gold is shining in the new geopolitical world
JSC “Rustavi Azot” was sold
We Are Creating An Innovative Co-Working Space In Tbilisi - Sergi Gvarjaladze
NG Georgia - თარგმანი ყველა ენაზე
The Rich Often Enjoy Tax Break - Deputy Minister
Israel Got Acquainted With The Business Tourism Potential Of Georgia
Kettari Foundation became a partner of DATAFEST this year
#ბიზნესსიახლეები BM.GE-სგან / 11.11.2022
საქმის კურსი - 11.11.2022 - კოლაჟი
„1500 ადამიანი უმუშევარი დარჩება“ - 38 ფარმაცევტულ საწარმოს საქმიანობა შეზღუდული აქვს
“პროდუქტებზე ფასების ზრდა იმდენად მაღალი იყო, რომ მცირედი კლება შესამჩნევი აღარ არის” - ივა ჭყონია
მაკროეკონომიკური ტრენდები მსოფლიოსა და საქართველოში
"დღეს, ახალგაზრდები ხედავენ თუ რა ხდება მსოფლიო კულინარიაში, რას ნიშნავს იყო მზარეული, რას ნიშნავს გქონდეს ტიტული და შენი ქვეყანა გააცნო მსოფლიოს კულინარიით" - ლევან კობიაშვილი
EBRD to fund the rehabilitation of 10 metro stations in Tbilisi with €50 million project
Tata Power’s CEO Pays Visit to BMG
Turkiye generates more than $35B tourism income in 1st nine months of 2022
NEQSOL Holding has won defamation case against Communications Commission
Trip.com says China hotel bookings are surpassing pre-pandemic levels
Europe's largest crypto exchange WhiteBIT has partnered with Netflix