Higher container demand helps fuel strong 2024 for Maersk

Maersk announced strong financial results for 2024, reporting a 65 per cent increase in earning before interest and taxes (EBIT) to US$6.5 billion.

The results were the result of higher container demand and elevated freight rates in its ocean division, top-line growth and volume increases in terminals and solid improvements across most logistics and services products.

The company’s board of directors proposed a dividend of DKK 1,120 per share and unveiled a share buy-back program worth up to US$2 billion over the next 12 months.

“Our ability to navigate shifting circumstances and ensure steady supply chains for our customers was put to the test throughout 2024. Our efforts were rewarded with record-high customer satisfaction,” said Vincent Clerc, CEO of Maersk. “We successfully capitalized on increased demand while enhancing productivity and rigorously managing costs — all of which contributed to our strong financial performance. With three strong businesses — ocean, logistics and services and terminals — plus integrated offerings across the supply chain, we are uniquely positioned to support our customers in an era where geopolitical changes and disruptions continue to reinforce the need for resilient supply chains.”

The ocean segment saw improved profitability, driven by rising freight rates and strong volume demand, particularly in the Red Sea. Cost discipline helped maintain operational stability despite increased costs from rerouting networks.

Logistics and services demonstrated resilience, with steady quarterly growth, a seven per cent increase in revenue, and higher EBIT margins, supported by expansion in warehousing, air and first-mile services.

Terminals achieved its best-ever financial results, driven by record-high EBITDA and EBIT. Strong volumes, inflation-adjusting tariff increases and improved customer and product mixes contributed to the success.