The financial report is out – Here's how much Maersk earned in 2024
There is still some way to go to reach the record years of 2021 and 2022, when A.P. Moller-Maersk set Denmark's record in the discipline of profit on the annual financial statement.
However, with an operating profit (EBIT) of $6.4 billion for the 2024 fiscal year, CEO Vincent Clerc can celebrate delivering the third-best annual result in the company’s history—a significant increase from $3.9 billion the previous year.
This is according to the company’s annual report for 2024, which has just been published.
Denmark's largest shipping company raised its revenue by more than $4 billion to $55.4 billion for the 2024 fiscal year.
Looking solely at the results for the fourth quarter of 2024, the status is as follows: Operating profit (EBIT) rose to a total of $2 billion, compared to a loss of $500 million in Q4 2023. No one can now doubt that it has been a good business year on the financial front for A.P. Moller-Maersk—and the other container shipping companies—to take the long route around Africa.
Changing reality
- Our ability to navigate through a changing reality has been put to the test throughout 2024, where we have increased our earnings by maintaining stable supply chains for our customers, explains CEO Vincent Clerc in a press release.
It is, of course, the key division, Ocean, that drives the positive development due to the high freight rates throughout the year. Thus, Maersk's financial results reflect the positive consequences of the unrest in the Red Sea, which has forced container shipping companies to take the long route around Africa.
The consequences of geopolitical unrest can be directly seen in the financial figures: In Ocean, operating profit (EBIT) for Q4 2024 rose to $1.6 billion. In the same quarter the previous year, Maersk posted an operating loss of $920 million.
Maersk transported 3.1 million containers in the fourth quarter of the year, which is on par with the same quarter the previous year.
A.P. Moller-Maersk: Quarterly and Annual Results
| Million dollars | Q4 '24 | Q4 '24(e) | Q4 '23 | FY '24 | FY '24 (e) | FY '23 | FY '25 (e) |
| Revenue | 14.594 | 14.054 | 11.741 | 55.482 | 54.767 | 51.065 | 50.789 |
| - Ocean | 9902 | 9475 | 7180 | 37.388 | 37.294 | 33.653 | 31.339 |
| - Logistics | 3891 | 3837 | 3542 | 14.920 | 14.804 | 13.916 | 15.613 |
| - Terminals | 1194 | 1120 | 1019 | 4465 | 4359 | 3844 | 4532 |
| EBITDA | 3597 | 3055 | 839 | 12.128 | 11.493 | 9591 | 7529 |
| - Ocean | 2821 | 2322 | 196 | 9186 | 8858 | 6940 | 4022 |
| - Logistics | 402 | 399 | 285 | 1447 | 1415 | 1251 | 1589 |
| - Terminals | 421 | 373 | 303 | 1601 | 1536 | 1278 | 1551 |
| Result before tax | 2254 | 1669 | -436 | 6816 | 6062 | 4362 | 1323 |
| Net result* | 2165 | 1456 | -442 | 6109 | 5398 | 3954 | 1027 |
