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