Maersk reports solid results in the third quarter of 2025

A.P. Moller – Maersk A/S (OMX: MAERSK-B) reported strong financial results for the third quarter of 2025, driven by operational improvements and proactive cost-control measures. The company recorded sequential growth across all business segments and has accordingly adjusted its full-year 2025 financial outlook.

Executive Summary

• Excellent performance in the Ocean segment, with higher volumes and freight rates remaining stable compared to Q2.
• Record volumes and profitability in the Terminals segment.
• Continued margin improvement in Logistics & Services.
• US$578 million returned to shareholders during the quarter, entirely through share buybacks.
• Full-year 2025 guidance revised upward, with the lower end of the range raised.
• Global container market growth expectations updated to around 4% (previously 2–4%).
• Revenue: US$ 14.2 billion (US$ 15.8 billion in Q3 2024)
• EBITDA: US$ 2.7 billion (US$ 4.8 billion)
• EBIT: US$ 1.3 billion (US$ 3.3 billion)

“We achieved solid performance in the third quarter across all business areas. This reflects our ability to execute and continuously improve, as well as the trust our customers place in us. The new East-West network strengthened our Ocean segment, offering industry-leading reliability, higher volumes, and lower costs. Terminals delivered another record quarter with strong volume growth, and Logistics & Services continued to improve profitability. As market conditions fluctuate, we are well-positioned to help our customers adapt and maintain stability in their supply chains,” said Vincent Clerc, CEO of Maersk.

Performance by Segment

Ocean

• The Gemini cooperation drove significant cost savings and supported a 7% increase in volumes year-over-year; freight rates remained stable versus the previous quarter.
• EBIT: US$ 567 million (vs. US$ 229 million in Q2 2025 and US$ 2.8 billion in Q3 2024).

Logistics & Services

• Profitability improved to 5.5% (from 4.8% in Q2), driven by cost control and strong performance in Fulfilled by Maersk, particularly in the warehousing segment.
• EBIT: US$ 218 million (vs. US$ 175 million in Q2 2025 and US$ 200 million in Q3 2024).

Terminals

• Continued momentum with record volumes, revenue, EBITDA, and EBIT.
• Volumes grew 8.7%, supported by robust demand in the Americas, Europe, and Africa.
• Utilization rate: 89%, with some terminals nearing full capacity.
• EBIT: US$ 571 million (vs. US$ 461 million in Q2 2025 and US$ 338 million in Q3 2024).

Financial Outlook

Maersk raised its 2025 full-year guidance, increasing the lower end of its range. The company expects global container market volume growth of around 4%, up from the previous 2–4% estimate. The disruption in global trade routes linked to the Red Sea is expected to persist through the year.

Sensitivity Guidance

Maersk’s 2025 financial performance remains subject to macroeconomic conditions, bunker prices, and ocean freight rate developments. Sensitivities for the year, based on four key assumptions, are outlined in the company’s guidance table.

Source: Maersk