Maersk reported first-quarter 2026 EBIT of US$340 million, supported by volume growth across Ocean, Logistics & Services, and Terminals, despite continued freight rate pressure in Ocean operations.
Revenue declined by 2.6 per cent to US$13.0 billion from US$13.3 billion in the same period last year. Ocean revenue fell 8.2 per cent to US$8.2 billion, mainly due to lower freight rates, partly offset by 9.3 per cent volume growth. Logistics & Services revenue increased 8.7 per cent to US$3.8 billion, while Terminals revenue rose 6.7 per cent to US$1.3 billion.
EBITDA decreased to US$1.8 billion from US$2.7 billion, with an EBITDA margin of 13.5 per cent. Ocean EBITDA fell to US$903 million from US$1.9 billion due to lower freight rates and higher costs linked to increased volumes. Logistics & Services EBITDA increased 13 per cent to US$433 million, while Terminals EBITDA rose 9.9 per cent to US$488 million.
© Maersk
EBIT declined to US$340 million from US$1.3 billion, with the EBIT margin at 2.6 per cent. Ocean reported a negative EBIT of US$192 million compared with a positive EBIT of US$743 million a year earlier. Logistics & Services EBIT increased to US$173 million from US$142 million, while Terminals EBIT rose to US$436 million from US$394 million.
Chief Executive Officer Vincent Clerc said: "We've seen strong demand across most regions this quarter, supporting robust volume growth in our three business segments."
He added that Ocean unit costs were reduced by 7 per cent through operational efficiencies and network flexibility, despite disruption linked to the Middle East conflict.
Ocean volumes increased 9.3 per cent, with asset utilisation at 96 per cent. Logistics & Services recorded its eighth consecutive quarter of year-on-year EBIT margin improvement, while Terminals increased handled volumes by 4.3 per cent.
During the quarter, Maersk ordered eight dual-fuel 18,600 TEU vessels for delivery between 2029 and 2030 as part of its fleet renewal strategy. The company also continued logistics expansion projects, including the opening of a 1.1 million-square-foot logistics facility in Singapore.
In terminal operations, investments continued in Brazil, Vietnam, Mexico, Saudi Arabia, and Germany. Maersk maintained its full-year 2026 guidance and expects global container market growth of between 2 per cent and 4 per cent during the year.
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For more information:
Jesper Løv
Maersk
Tel: +45 6114 1521
Email: [email protected]
www.maersk.com
