denmarks ap moellermaersk as reported results for the fourth quarter on wednesday heres what we watched revenue maersk had prereleased some fourthquarter figures including revenue of 185 billion up 64 from a year earlier driven by continued supplychain disruptions that have sent container freight rates higher earnings maersk has also prereleased fourthquarter underlying earnings before interest taxes depreciation and amortization of 8 billion and underlying earnings before interest and taxes of 68 billion net profit came in at 609 billion against the 598 billion forecast in a factset poll volumes rates maersk said revenue at its shipping unit rose 77 driven by higher freight rates caused by the current demand peak combined with bottlenecks and congestion across globalsupply chains however higher freight revenue was partially offset by higher costs from handling network and a 71 rise in fuel costs freight rates in the quarter rose 83 on the year while shipping volumes slipped 4 amid operational bottlenecks it said exceptional market conditions led to recordhigh growth and profitability in ap moellermaersk however it also led to supplychain disruptions and severe challenges for our customers chief executive soren skou said mr skou said the company worked to mitigate bottlenecks by expanding capacity across its shipping operations improving productivity in its terminals business and growing its global logistics footprint we will continue these efforts as we see the current market situation persist into 2q he added fuel fuel costs rose by 648 million on the quarter to 156 billion guidance looking ahead maersk said it expects full year 2022 underlying earnings before interest taxes depreciation and amortization of around 24 billion underlying earnings before interest and taxes of around 19 billion and free cash flow above 15 billion its shipping unit is expected to grow in line with global container demand of 24 in 2022 capital expenditure guidance for 20212022 was maintained at 70 billion and for 20222023 maersk sees accumulated capital expenditure at 90 billion100 billion driven by intensified growth in its logistics and services business as well as environmental social and governance investments generally maersk expects to have a strong first half of the year while assuming that normalization in its main shipping unit will occur early in the second half of the year dividend maersk proposed a dkk2500 dividend for 2021 up from dkk330 acquisition maersk plans to buy logisticsservices provider pilot freight services for 168 billion as it seeks to broaden its delivery services headquartered in pennsylvania pilot freight services specializes in businesstoconsumer home delivery for large goods as well as highvalue timesensitive businesstobusiness freight