A.P. Moller – Maersk A/S (Maersk) reported a 2.8% increase in revenue for the second quarter of 2025, with earnings before interest and taxes (EBIT) reaching USD 845 million. Although slightly lower than the previous quarter, the results were comparable to the same period last year, despite ongoing geopolitical challenges and continued pressure on freight rates.
The company attributed its performance to strong results in its Terminals segment, volume growth in Ocean, and improved profitability in Logistics & Services. Maersk also cited operational improvements and cost management across all business areas as contributing factors.
CEO Vincent Clerc noted that the first half of the year was shaped by ongoing efforts to improve operations and the full launch of the Gemini Cooperation, a new East-West network aimed at enhancing reliability. According to the company, this initiative played a key role in increased volumes and improved service delivery in its Ocean segment. Maersk reported that reliability scores for the new network exceeded 90% in its initial months.
In Ocean, volume increased by 4.2% year-on-year, largely driven by exports from Asia. Although freight rates rose during the quarter, they remained below levels seen both in the previous quarter and the same period last year. The company described market conditions as volatile throughout the quarter.
Logistics & Services reported a 39% increase in EBIT to USD 175 million. The EBIT margin rose to 4.8%, up from 3.5% in the corresponding quarter of 2024. Maersk attributed the margin growth to cost control and improved productivity.
The Terminals segment recorded record-high volumes and revenue, with a 9.9% increase in volumes. This growth was supported by additional Ocean volumes resulting from the Gemini Cooperation. EBIT for Terminals rose by 31% to USD 461 million, supported by strong operational and joint venture contributions. Return on invested capital (ROIC) rose to 15.4%, up from 12.2% a year earlier.
Citing continued resilient demand outside North America, Maersk revised its full-year 2025 financial guidance. The company now expects global container market volume growth to range between 2% and 4%, an upward adjustment from the previous estimate of between -1% and 4%. It also reaffirmed that disruptions in the Red Sea are likely to persist throughout the year.
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