Maersk Outperforms Expectations with Strong Q2 Results
A.P. Moller – Maersk A/S (Maersk) has delivered a solid performance in Q2, with revenue climbing 2.8% and EBIT reaching USD 845m. While sequentially softer, these results align with last year’s performance despite ongoing geopolitical challenges and rate pressures.
This success was fueled by robust growth across Terminals, Ocean, and Logistics & Services, underpinned by operational excellence and disciplined cost management across all segments. With resilient demand outside North America, Maersk has raised its full-year 2025 financial guidance.
Ocean: 4.2% Volume Growth Amid Volatility
Ocean delivered strong results in a turbulent quarter, with volumes up 4.2% year-over-year, driven by increased exports from Asia. Freight rates showed improvement during the quarter, though they remain under pressure compared to last year. The Gemini Cooperation, fully phased in by June, achieved reliability scores exceeding 90% in its initial months.
Logistics & Services: EBIT Soars 39%
Logistics & Services focused on operational efficiency and sustainable profitability, resulting in a 39% EBIT increase to USD 175m. The EBIT margin rose to 4.8%, up from 3.5% last year, driven by disciplined cost management and productivity gains.
Terminals: ROIC Hits 15.4%
Terminals had a standout quarter, achieving record-high volumes and revenue. Volumes surged 9.9%, bolstered by the Gemini Cooperation, which brought additional Maersk Ocean volumes into the Terminals business. EBIT jumped 31% to USD 461m, with ROIC climbing to 15.4%, up from 12.2% last year.
Updated 2025 Financial Guidance
With resilient market demand outside North America, Maersk has revised its full-year 2025 guidance. Global container market volume growth is now expected to range between 2% and 4% (previously -1% to 4%). Disruptions in the Red Sea are anticipated to persist throughout the year.
Press releases © A.P. Moller – Maersk – Morten Buttler
European Airport Cargo Volumes Hold Steady in H1 2025
The air cargo sector across Europe has demonstrated remarkable resilience in the first half of 2025, with freight traffic holding steady despite global uncertainties. According to ACI EUROPE, overall freight volumes edged up by +0.1% year-on-year, with EU+ airports posting a modest +0.4% increase, while non-EU+ airports saw a slight dip of -2%.
Compared to pre-pandemic benchmarks from H1 2019, the sector has made an impressive recovery, with cargo volumes now +8.7% above pre-COVID levels.
Top Freight Hubs Shine
Several of Europe’s leading freight hubs delivered standout performances, reflecting strong demand along key air cargo corridors:
- Madrid-Barajas: +8.9%
- Cologne Bonn: +3.5%
- London Heathrow: +2.3%
These results underscore the critical role of integrated logistics hubs in southern and western Europe in driving growth.
Aircraft Movements See Modest Growth
Operational activity also showed positive momentum, with aircraft movements rising +3.1% year-on-year in H1 2025. However, movements remain 2.2% below 2019 levels, signaling a slower recovery in overall flight operations despite robust cargo activity.
Steady Recovery Amid Challenges
The latest data highlights a cautious yet steady recovery across Europe’s freight network. As operators navigate renewed global demand alongside persistent economic and geopolitical challenges, the air cargo sector continues to prove its resilience.
©2023 EVA International Ltd – Eddie Saunders