A.P. Moller - Maersk has released its financial results for 2024, reporting growth across all business segments and a substantial increase in profitability. Earnings before interest and taxes (EBIT) rose by 65% to USD 6.5 billion.
The company attributes the strong performance to higher container demand, elevated freight rates in Ocean, top-line and volume growth in Terminals, and improvements in most Logistics & Services products. The Board of Directors proposes a dividend of DKK 1,120 per share and a share buy-back program of up to approximately USD 2 billion over 12 months.
Ocean segment profitability improved due to higher freight rates driven by the Red Sea situation and strong volume demand. Stable operational costs offset increased costs and bunker consumption from rerouting vessels. Logistics & Services saw revenue grow by 7%, driven by Warehousing, Air, and First Mile products, with improved EBIT margin.
Terminals delivered record financial results, driven by volume growth, inflation-offsetting tariff increases, and a better customer and product mix.
Maersk anticipates global container volume growth of around 4% in 2025 and expects to grow in line with the market. The company projects a greater supply-demand imbalance due to new vessel deliveries and a potential Red Sea reopening, which could be offset by supply-side factors and demand.
Maersk returned USD 1.6 billion to shareholders in 2024 through dividends and buy-backs. The Svitzer demerger and spin-off returned USD 1.1 billion to shareholders via a dividend in-kind. The new share buy-back program is valued at up to DKK 14.4 billion (approximately USD 2 billion).
A.P. Moller - Maersk operates in more than 130 countries and employs around 100,000 people.
