cloum05 cloum05
Home News Center Industry News Maersk reported earnings growth for 2024...
Maersk reported earnings growth for 2024 across all business units
On February 6, Maersk announced its 2024 results report, and specifically emphasized "strong performance."

According to the report, Maersk's full-year revenue of $55.48 billion, an increase of 8.6%, earnings before interest and tax (EBIT) of $6.05 billion, an increase of 65.2%, and all business units achieved profitable growth, which is also Maersk's "third best annual performance in history."

Maersk believes that the good performance is mainly due to the increase in container demand and higher freight rates.


Maersk's key performance data for 2024


Commenting on the results, Maersk CEO Vincent Clerc said: "In 2024, we successfully capitalised on growing transport demand while improving productivity and tightly managing costs, which all contributed to our strong results."

He stressed that with three strong business segments - Marine, Logistics and Services, Terminals, and integrated products throughout the supply chain, Maersk is uniquely positioned to support customers in the face of geopolitical changes and supply chain strains.


Maersk CEO Vincent Clerc


In terms of business segments, Maersk Shipping business revenue in 2024 was 37.39 billion US dollars, an increase of 11.1%, and EBIT was 4.74 billion US dollars, an increase of 113.0%. At the same time, the freight volume was 12.338 million FEU, an increase of 3.6%, and the average freight rate was 2,698 US dollars /FEU, an increase of 16.6%.

Maersk said the profitability of the maritime business improved, helped by a sharp increase in freight rates and strong transport demand. Operating costs were flat compared to the same period in 2023, offsetting the increased costs and additional fuel consumption associated with the circumnavigation of the Cape of Good Hope.


Key performance data of Marine business for 2024


Logistics & Services revenue was $14.92 billion, up 7.2%, and EBIT was $540 million, up 20.6%, driven by solid growth in warehousing, air freight and "first mile" products.

Terminal revenue of $4.47 billion, up 16.2%, and EBIT of $1.33 billion, up 35.6%, were the best results ever achieved by the business, driven by throughput growth from route growth, better customer and product matching, and higher warehousing revenue.

As for the container shipping market outlook, Maersk expects that there may be a greater supply-demand imbalance in the market in 2025, as the delivery of new container ships continues to increase and the Red Sea route may reopen, but this imbalance is likely to be offset by supply-side drivers and strong market demand.

In addition, in light of the strong performance, Maersk also announced the launch of a share repurchase program totaling approximately $2 billion, to be executed over a 12-month period.
Copyright © 2023 SHANGHAI SUNGREEN LOGISTICS GROUP CO.,LTD. All Rights reserved Shanghai ICP for 2023004045-1