Independent journal on economy and transport policy
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SHIPPING
Maersk's annual economic performance is growing
Record financial results recorded by port terminals
Copenaghen
February 6, 2025
After a 2023 that had recorded a decline in results
of the shipowning group, in the following annual financial year
the performance of A.P. Møller-Mærsk has returned to
Growing on the back of an improvement in the transport market
containerized maritime industry, which is the core business
of the Danish company, mainly determined by the effects of the
geopolitical tensions, and in particular the crisis in the
Red Sea, on the worldwide network of scheduled services and freight rates
Maritime.
In 2024, the group totaled revenues of 55.48 billion
of dollars, with an increase of +8.6% on the annual year
previous. Ebitda amounted to 12.13
billion (+26.5%), operating profit at 6.50 billion (+65.2%) and
net income at $6.23 billion (+59.5%).
Last year, revenues from the activities of
containerized shipping of the Danish group have
amounted to $37.39 billion (+11.1%), of which $32.68 billion
billion generated by the transport of goods (+15.0%) and 4.70 billion
ancillary services (-10.1%). The segment recorded a margin
gross operating income of €9.19 billion (+32.4%) and an operating profit of
$4.74 billion (+113.0%). In 2024, the fleet of
container ship of Maersk has transported cargo volumes of
12.39 million 40-foot containers (FEUs), an increase of
+3.6% on the previous year, of which 5.61 million feu transported
on east-west routes (+1.8%), 4.03 million on north-south routes
(+3.4%) and 2.69 million feu on intra-regional ones (+8.0%). The
Average freight value was $2,698/FEU
(+16,6%). At the end of 2024, the group's fleet consisted of 308
container ships, down -0.6% on 31 December
2023, and 399 container ships for rent (+10.2%).
In the fourth quarter of 2024 alone, the Danish group
total revenues of $14.59 billion, with an increase in
+24.3% over the same period of the previous year. The
EBITDA was €3.60 billion (+328.7%).
Operating profit and net profit were respectively
$2.05 billion and $2.11 billion against sign results
negative for -537 million and -456 million dollars in the last
quarter of 2023.
In the period October-December last year, the only segment
of containerized shipping recorded revenues of 9.90
billion (+37.9%), of which 8.76 billion generated by transport
maritime goods (+48.7%) and 1.15 billion from ancillary services
(-11,2%). Ebitda amounted to 2.82
billion (+1,399.3%) and operating profit at 1.60 billion compared to
a negative operating result of -920 million
Dollars.
In the fourth quarter of 2024, the container fleet
transported cargoes of 3.13 million FEU (+0.8%) with a value
average freight rates which was equal to 2,659 dollars/feu
(+38,1%). On the east-west routes alone, 1.42
million feu (-3.1%) and the average value of freight rates was
of 2,755 dollars/feu (+51.5%). On the north-south routes, the total
transported was 1.03 million FEU (+3.1%) and the
Average freight value was $3,475/FEU (+28.6%).
Intra-regional services transported 685 thousand feu (+6.2%) with
an average freight rate of 1,586 dollars/feu (+12.9%).
In the last quarter of 2024, the terminal division of the
group, which is made up of the Dutch APM Terminals, has
recorded revenues of $1.19 billion (+17.2%), a
EBITDA of €421 million (+38.9%) and a profit
operating margin of $338 million (+44.4%). In the period the terminals
port offices of APM Terminals handled 3.36 million
containers (+6.0%), of which 905 thousand in North America (+14.7%), 642 thousand
in Latin America (+6.5%), 683 thousand in Europe (+2.4%), 198 thousand in
Africa (-3.4%) and 931 thousand in Asia (+3.0%).
Of note are the record values of revenues, EBITDA and EBIT recorded
in the whole of 2024 by the terminal division, which resulted in
amounting to 4.46 billion (+16.2% on 2023), 1.60 billion respectively
billion (+25.3%) and $1.33 billion (+35.6%). In the year i
Port terminals handled 13.09 million containers
(+7,3%).
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