Guidance for 2022 is based on the expectations that A.P. Moller - Maersk will have a strong first half year, and the assumption that normalisation in Ocean occurs early in the second half of the year.
Based on these assumptions, A.P. Moller - Maersk expects for full year 2022 an underlying EBITDA of around USD 30bn, an underlying EBIT of around USD 24bn and a free cash flow (FCF) above USD 19bn.
Based on volume developments in Q1, APMM has revised downwards the outlook for the growth of global container demand to between -1% and +1% (previously 2-4%) in 2022, however still subject to high uncertainties related to the current congestion, network disruption and demand patterns.
CAPEX guidance for 2022-2023 remains unchanged at USD 9.0-10.0bn, driven by intensified growth in Logistics & Services and ESG investments. Further, CAPEX guidance for 2021-2022 of around USD 7.0bn is maintained.