The shipping group A.P. Møller-Maersk has presented significantly improved financial results in all divisions.
Maersk had already raised its forecast for 2024 on 21 October and now expects an adjusted EBIT of US$5.2 to US$5.7bn for the full year (previously US$3.0 to US$5.0bn).
“We have increased results in all business areas through a consistent focus on cost discipline, productivity improvements and efficient utilisation of our assets,” says Vincent Clerc, CEO of Maersk.
The Danish company was supported above all by its “Ocean” segment, liner shipping. The ongoing crisis in the Red Sea continues to necessitate detours around the Cape of Good Hope and is keeping freight rates high due to the resulting shortage of tonnage.
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Turnover rose by 41% year-on-year from US$7.9bn to US$11.1bn. However, bunker consumption and total operating costs were also higher due to the longer voyages. However, these cost increases were largely offset by more efficient operating processes. As a result, EBIT increased from US$2.8bn (previous year: US$-27m) and led to a margin of 25.5%.
Logistics & Services achieved sales growth of 11% compared to the previous year and 7.2% compared to the previous quarter, which was attributable to higher volumes for most products in this business division. EBIT reached US$200m, an increase of US$64m compared to the previous year.
The Terminals division was able to grow, particularly in North America. At US$424m, the division achieved its best EBITDA since the first quarter of 2022.
Maersk now expects the global container market to grow by around 6% for the year as a whole (previously 4-6%). The CAPEX forecast remains unchanged.
