A.P. Moller – Maersk (Maersk) has reported strong financial results for 2024 with growth across all segments and significantly improved profitability with EBIT increasing 65 per cent to $6.5 billion.
Results were driven by higher container demand, elevated freight rates in Ocean, top line and volume growth in Terminals, and solid improvements in most Logistics & Services products.
Terminals delivered its best-ever financial results in 2024 with EBITDA and EBIT reaching record highs. This was driven by significant top-line growth due to strong volumes, inflation offsetting tariff increases, a better customer and product mix, and higher storage revenue.
Profitability in Ocean improved compared to the previous year supported by a significant increase in freight rates reflecting the situation in the Red Sea and strong volume demand.
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High utilisation and cost discipline ensured that Ocean operations were streamlined and able to tackle uncertainties. Operational costs were stable year-on-year, offsetting the increased costs and additional bunker consumption of re-routing the network south of the Cape of Good Hope.
Logistics & Services demonstrated resilience in 2024 with momentum building steadily each quarter culminating in volume growth, higher revenue and improved EBIT margin compared to 2023. Revenue grew 7 per cent supported by solid growth in Warehousing, Air and First Mile product categories while profitability benefitted from progress in most products.
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“Our ability to navigate shifting circumstances and ensure steady supply chains for our customers was put to the test throughout 2024,” said Vincent Clerc, CEO of A.P. Moller–Maersk.
“Our efforts were rewarded with record-high customer satisfaction. We successfully capitalised on increased demand while enhancing productivity and rigorously managing costs — all of which contributed to our strong financial performance.
“With three strong businesses — Ocean, Logistics & Services, and Terminals — plus integrated offerings across the supply chain, we are uniquely positioned to support our customers in an era where geopolitical changes and disruptions continue to reinforce the need for resilient supply chains.”
