Logistics Giant Maersk Reports Third-Best Financial Year
A.P. Moller – Maersk has reported strong financial results for 2024, marking its third-best year ever, with EBIT rising by 65% to USD 6.5 billion. The company credited the performance to higher container demand, increased freight rates, and growth across its key business segments: Ocean, Logistics & Services, and Terminals.
Strong Performance Across Segments
Maersk’s Ocean segment saw a significant improvement in profitability, with higher freight rates driven by market conditions, including disruptions in the Red Sea. The company maintained high utilisation and disciplined cost management, helping to offset increased expenses from re-routing vessels via the Cape of Good Hope.
Logistics & Services experienced steady momentum throughout the year, recording 7% revenue growth. Warehousing, Air, and First Mile services contributed to stronger margins, improving overall profitability.
The Terminals division delivered record-breaking financial results, achieving its highest-ever EBITDA and EBIT. This success was attributed to strong volume growth, inflation-offsetting tariff increases, and an improved customer mix, which led to higher storage revenue.
Shareholder Returns and Future Investments
Given its strong balance sheet, Maersk’s Board of Directors proposed a dividend of DKK 1,120 per share. Additionally, the company announced a new share buyback programme worth up to USD 2 billion over the next 12 months.
Despite the positive outlook, the company has set cautious financial guidance for 2025, anticipating global container volume growth of around 4%. Maersk expects a continued supply-demand imbalance due to new vessel deliveries, with a potential reopening of the Red Sea mid-year or by the end of 2025. The company’s EBIT forecast for 2025 ranges between USD 0-3 billion, depending on market conditions.
CEO Vincent Clerc on Resilient Supply Chains
Maersk CEO Vincent Clerc emphasised the company’s ability to adapt to shifting global trade conditions. “Our ability to navigate shifting circumstances and ensure steady supply chains for our customers was put to the test throughout 2024. Our efforts were rewarded with record-high customer satisfaction,” he stated.
Clerc highlighted that Maersk’s integrated business model, spanning Ocean, Logistics & Services, and Terminals, positions it uniquely in an era of increasing geopolitical disruptions.
Market Trends and Sensitivity Factors
Maersk’s financial outlook for 2025 is subject to uncertainties, including freight rate fluctuations, bunker fuel prices, and foreign exchange shifts. A USD 100 change in freight rates per FEU could impact EBIT by USD 1.3 billion, while a USD 100 increase in bunker fuel prices would affect EBIT by USD 0.4 billion.
