MAERSK has raised its full-year profit expectations after a second quarter that saw revenue growth of 2.8% and EBIT reaching USD 845 million.
A.P. Moller-Maersk said that while down “sequentially” the 2Q results were in line with the previous year despite significant geopolitical uncertainty and continued rate pressure, driven by continued strong results in Terminals, volume growth in Ocean and increased profitability in Logistics & Services.
Given the more resilient market demand outside of North America, expectations that Red Sea disruptions will continue for the full year, and revision of global container market volume growth to between 2% and 4% (previously between -1% and 4%) Maersk has raised its full-year 2025 financial guidance for EBIT from between USD 0.0 billion to 0.3 billion to between 2.0 billion to 3.5 billion.
“We have had a strong first half of the year, driven by consistent follow through on our operational improvement plans and the successful launch of the Gemini Cooperation,” CEO Vincent Clerc said.
“Our new East-West network is raising the bar on reliability and setting new industry standards. It has been a key driver of increased volumes and solid delivery of our Ocean business. Even with market volatility and historical uncertainty in global trade, demand remained resilient, and we’ve continued to respond with speed and flexibility. As our customers navigate these complex challenges, we remain committed to helping them build stronger and more adaptable supply chains— making sure they are ready to not just weather disruption, but to grow through it,” Mr Clerc said.
Ocean delivered good results in a quarter marked by significant volatility in demand and rates, Maersk said. Volumes grew 4.2% compared to the same quarter last year, mainly driven by exports out of Asia, with freight rates picking up in the quarter, while still being under pressure both sequentially and compared to previous year. The Gemini Cooperation was successfully phased in fully in June with reliability scores above the 90% target in its first few months of operation.
Logistics & Services continued to focus on operational efficiency and delivering sustainable profitability improvement. EBIT increased by 39% to USD 175 million and EBIT margin was 4.8%, up from 3.5% in the same quarter last year. The margin growth was driven by strong cost discipline and increased productivity, Maersk said.
The company reported another strong quarter in Terminals with record-high volumes and revenue. Volumes increased 9.9% and were supported by the successful phase-in of the Gemini cooperation adding more Maersk Ocean volumes to the Terminals business. EBIT increased by 31% to USD 461 million driven primarily by strong operational and joint venture performance. ROIC increased to 15.4%, up from 12.2% in the same quarter last year.