A.P. Moller-Maersk recorded a net profit of 2.9 billion dollars in the 2025 fiscal year, compared to 6.2 billion dollars the previous year, as a result of a significant decline in results in its Ocean division. Revenues fell by 1.5 billion dollars to 54 billion, mainly due to ongoing pressure on freight rates, which was partially offset by an increase in transported volumes. The strong performance of the Terminals and Logistics and Services divisions provided some support to the group's accounts.
The EBITDA for the year reached 9.5 billion dollars, down from 12.1 billion the previous year, while EBIT fell to 3.5 billion dollars from 6.5 billion in 2024. Maersk has indicated that the EBIT result was at the upper end of its financial forecasts and that the performance for the year was solid, considering market volatility and geopolitical uncertainties.
In this context, Maersk has announced cost-cutting measures. The company has communicated plans to eliminate approximately 1,000 corporate positions, representing 15 percent of its workforce at headquarters and regional offices, as part of a broader effort to simplify its organization and reduce overhead expenses. The restructuring is expected to generate an estimated annual saving of 180 million dollars, and notification and consultation processes are already underway.
Vincent Clerc, CEO of Maersk, has stated that the company achieved solid performance and high value for its customers in a year when supply chains and global trade continued to be reconfigured due to geopolitical developments. Clerc has indicated that, across all group operations, volumes increased and asset utilization was very high. The executive added that the Ocean business set a new standard for reliability, Terminals achieved record results, and Logistics and Services continued to progress. According to Clerc, the year highlighted the need to strengthen and modernize global supply chains and critical infrastructures.
The Ocean division maintained high asset utilization and recorded a volume growth of 4.9 percent for the whole year, driven by strong demand and the launch of the new East-West network. The service achieved over 90 percent on-time arrivals, contributing to cost savings that exceeded expectations. Despite these operational improvements, profitability declined due to lower freight rates caused by excess capacity in the market.
In the fourth quarter, Ocean volumes grew by 8 percent year-on-year, but EBIT entered negative territory with a loss of 153 million dollars, compared to a positive 567 million in the third quarter of 2025 and 1.6 billion in the fourth quarter of 2024, which evidences the continued pressure on freight rates.
The Terminals division recorded an 8.4 percent increase in volume, which supported a 13 percent year-on-year revenue growth, thanks to strong demand in America and Europe and higher storage revenues. EBIT for the quarter was 321 million dollars, down from 571 million in the third quarter of 2025 due to extraordinary items, but higher than 338 million in the fourth quarter of 2024. Excluding impairments and amortizations, the EBIT margin stood at 30.1 percent, representing record financial results for the terminals business.
The Logistics and Services segment continued to invest in operational and performance improvements, particularly in storage and e-commerce fulfillment, which contributed to an EBIT margin increase of 0.8 percentage points to 4.9 percent. Revenues grew by 1.9 percent compared to the fourth quarter of 2024, while EBIT reached 194 million dollars, down from 218 million in the third quarter of 2025 but above 158 million in the fourth quarter of 2024. Maersk has indicated that, although performance improved, the segment has not yet reached its full potential.
The company has indicated that its Logistics and Services product portfolio will be regrouped into three sub-segments: Landside, Forwarding, and Solutions, reflecting the overall product segmentation in the industry. Consequently, the organization adjusts with Landside products managed locally at the country level, while Forwarding and Solutions will operate as global product organizations.
For 2026, Maersk's forecasts assume that global container volumes will grow between 2 and 4 percent, with the company tracking market growth. The outlook reflects the continued excess capacity in the shipping sector and potential scenarios linked to a gradual reopening of the Red Sea. The forecasts also incorporate the impact of a change in the depreciation of ships, with the estimated lifespan of vessels extended from 20 to 25 years effective January 1, 2026, which reduces depreciation charges by approximately 700 million dollars.