AP Moller-Maersk said global supply chain woes should ease in the second half of this year as the Danish container shipping group proposed a seven-fold increase in its dividend and unveiled a $ 1.7bn logistics acquisition.
The world’s second-largest container shipping line by capacity said revenues rose by 55 per cent to $ 62bn last year, while earnings before interest, tax, depreciation and amortization tripled to a record $ 24bn.
Maersk said it expected supply chain problems to persist into the second quarter but that “a normalization [should] occur early in the second half of the year ”, and added that it was targeting an ebitda of $ 24bn again in 2022.
“Exceptional market conditions led to record-high growth and profitability in AP Moller-Maersk, however it also led to supply chain disruptions and severe challenges for our customers,” chief executive Soren Skou said on Wednesday.
Maersk is proposing a dividend of DKr2,500 per share, up from DKr330 a year earlier. It added that this represented a dividend yield of 10.7 per cent, an amount Skou called “truly exceptional”.
The group is also continuing its push into land-based logistics to boost its end-to-end offering to customers by purchasing Pilot Freight Services in the US for $ 1.7bn.