Maersk reports strong financial results for 2024 with growth across all segments and significantly improved profitability with EBIT increasing 65% to USD 6.5 billion.


 Results were driven by higher container demand and elevated freight rates in Ocean, top line and volume growth in Terminals and solid improvements in most Logistics & Services products.
 
Profitability in Ocean improved compared to the previous year supported by a significant increase in freight rates reflecting the situation in the Red Sea and strong volume demand. High utilization and cost discipline ensured that Ocean operations were streamlined and able to tackle uncertainties.
 
Logistics & Services demonstrated resilience with momentum building steadily each quarter culminating in volume growth, higher revenue and improved EBIT margin compared to 2023. Revenue grew 7% supported by solid growth in Warehousing, Air and First Mile product categories while profitability benefitted from progress in most products.

“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. 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,” says Vincent Clerc, CEO at Maersk.

”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,”

Vincent Clerc CEO Maersk

Terminals delivered its best ever financial results with EBITDA and EBIT reaching record highs. This was driven by significant top line growth due to strong volumes along with inflation-offsetting tariffs increases, a better customer and product mix, and higher storage revenue.

Read the full press release 👉https://lnkd.in/dTsse_sp

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Canadian Prime Minister Justin Trudeau has announced that Canada will impose retaliation tariffs towards United States.

Trudeau said on Saturday, warning Americans that Trump’s actions would have real consequences for them.

  • Canada slaps 25% tariffs on C$155 billion of US goods
  • Trudeau says C$30 billion will take effect on Tuesday
  • Duties on the remaining C$125 billion in 21 days
  • PM vows to work with provinces on non-tariff measures

Also Mexico and China has stated that they will provide a tariff response within the following days.