A.P. Moller Maersk reported its full-year 2025 results, with performance across Ocean, Logistics & Services, and Terminals placing earnings at the upper end of the company's guidance for the year. Results reflected volume growth, high asset utilisation, and cost measures implemented during a period of ongoing geopolitical and market volatility.
Chief Executive Officer Vincent Clerc said the year underlined changes in global trade and supply chains. "We delivered a strong performance and high value for our customers in a year where supply chains and global trade continued to be reshaped by evolving geopolitics," he said. "Across our operations, volumes grew, and asset utilisation was very high."
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For 2025, Maersk reported revenue of US$54.0 billion, EBITDA of US$9.5 billion, and EBIT of US$3.5 billion, reaching the top end of its financial guidance. The Ocean segment grew volumes by 4.9 percent in line with the wider market. Profitability declined due to lower freight rates linked to global overcapacity, although the launch of a new East-West network resulted in on-time arrival performance averaging above 90 percent and delivered cost savings above initial expectations.
The Logistics & Services division recorded improved profitability and operational performance, supported by targeted investments and restructuring. The company said the segment has not yet reached its full potential and remains an area of continued focus.
Terminal operations recorded their strongest financial performance to date. Revenue increased by 20 percent, supported by higher volumes, improved rates, and increased storage income. Growth was driven by new site development, modernisation of existing facilities, and the securing of port concessions in strategic locations.
In the fourth quarter of 2025, Ocean volumes rose 8.0 percent, though earnings were affected by continued pressure on freight rates. Logistics & Services posted year-on-year revenue growth of 1.9 percent, with profitability improving for the seventh consecutive quarter. Terminal volumes increased 8.4 percent, driven by activity in the Americas and Europe.
The board announced plans to propose a dividend of DKK 480 per share, corresponding to approximately US$1.1 billion, and approved a share buy-back program of up to DKK 6.3 billion, equivalent to around US$1.0 billion, to be executed over 12 months.
Maersk also announced organisational changes aimed at reducing corporate overheads by US$180 million annually. Around 1,000 positions, or approximately 15 percent of corporate roles, are expected to be phased out following consultation processes.
Looking ahead, Maersk expects global container market volumes to grow between 2 percent and 4 percent in 2026. Guidance reflects expected industry overcapacity and potential scenarios involving a gradual reopening of Red Sea shipping routes, as well as a change in vessel depreciation timelines effective from January 1, 2026.
For more information:
Morten Buttler
Maersk
Email: [email protected]
www.maersk.com
