AP Moeller - Maersk A/S
CSE:MAERSK B

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AP Moeller - Maersk A/S
CSE:MAERSK B
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Price: 14 465 DKK 0.38% Market Closed
Market Cap: 229B DKK

AP Moeller - Maersk A/S
Investor Relations

In the vast world of global shipping, AP Moeller - Maersk A/S stands as a towering figure, steering the course of international trade with both innovation and tradition. Founded in 1904 in Denmark, Maersk has grown from a small shipping company to become the largest container shipping line in the world. Its iconic blue vessels traverse the globe across vast oceans, orchestrating the movement of goods that underpin our modern economy. The vastness of Maersk's operations is remarkable: with over 700 vessels and a presence in over 130 countries, it manages to thread together the intricate web of global commerce. This intricate system functions with almost clockwork precision to swiftly deliver everything from electronics and apparel to food and raw materials, fueling the interconnectivity of countries and markets worldwide.

Maersk’s business model pivots around two primary revenue streams: its Ocean and Logistics & Services divisions. The Ocean division, its colossal fleet of container ships, is truly the heart of the company, where the bulk of Maersk’s revenue is generated by transporting containerized goods across the world's seas. Complementing its ocean freight services, the Logistics & Services division amplifies Maersk’s capabilities by providing end-to-end supply chain solutions, ranging from warehousing to supply chain management, enhancing efficiency and transparency for its customers. As the company navigates both the opportunities and challenges of a dynamic global economy, including technological advancements and sustainability demands, Maersk continually fine-tunes its expansive operations to maintain its competitive ocean edge while increasingly focusing on digital innovations.

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MAERSK B
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Last Earnings Call
Fiscal Period
Q3 2024
Call Date
Oct 31, 2024
AI Summary
Q3 2024

Strong Quarter: Maersk delivered a significant uptick in Q3 2024 performance, with EBITDA of $4.8 billion and EBIT of $3.3 billion, both increasing sequentially and year-on-year.

Guidance Raised: Full-year 2024 EBIT guidance was increased to $5.2–$5.7 billion and free cash flow to at least $3 billion, reflecting robust market demand and Q3 outperformance.

Ocean Segment Strength: The Ocean segment saw high freight rates and volumes, with EBIT of $2.8 billion and EBIT margin of 25.5%. Contracted volumes rose, with 75% now under contract.

Logistics Momentum: Logistics & Services showed double-digit organic revenue growth (11%) and an EBIT margin recovery to 5.1%, with further improvement toward a 6% target expected.

Terminal Resilience: Terminal business delivered record revenue ($1.2 billion, up 18% YoY) and an EBIT margin of 28.6%. ROIC reached 13%, above the 9% target.

Gemini Network Launch: Preparation for the Gemini network is underway, aiming for a 90% reliability target and improved asset utilization, with transition expected in early 2025.

Cash Position: Free cash flow strengthened to $2.7 billion, up from negative $124 million last year. Net cash stands at $5.6 billion.

Buyback on Hold: Share buybacks remain suspended pending greater visibility on Ocean market conditions and 2025 outlook.

Key Financials
EBITDA
$4.8 billion
EBIT
$3.3 billion
Net Result
$3.1 billion
Free Cash Flow
$2.7 billion
Total Cash and Deposits
$22.3 billion
Net Cash Position
$5.6 billion
Cash Flow from Operations
$4.3 billion
Cash Conversion
89%
CapEx
$940 million
Ocean Segment EBIT
$2.8 billion
Ocean EBIT Margin
25.5%
Average Loaded Freight Rate
$3,236 per FFE
Utilization (Ocean)
96%
Contract Volumes (Ocean)
75% of Q3 volumes
Logistics & Services Revenue Growth
11% YoY
Logistics & Services EBIT
$900 million
Logistics & Services EBIT Margin
5.1%
Revenue Managed By (Logistics)
$624 million
Lead Logistics EBITA Margin
24.2%
Fulfilled By Revenue
$1.4 billion
Fulfilled By EBITA Margin
-4.5%
Transported By Revenue
$1.9 billion
Transported By EBITA Margin
8.4%
Terminals Revenue
$1.2 billion
Terminal EBIT Margin
28.6%
Terminal ROIC
13%
Terminal EBITDA
$424 million
Terminal EBITDA Margin
35.8%
Other Earnings Calls

Management

Mr. Vincent Clerc
CEO & Member of Management Board
No Bio Available
Mr. Patrick Jany
Executive VP, CFO & Member of Executive Board
No Bio Available
Mr. Navneet Kapoor
Executive VP, Chief Technology & Information Officer and Member of Executive Board
No Bio Available
Ms. Rabab Boulos
Executive VP & COO
No Bio Available
Ms. Sarah Spray
Head of Investor Relations
No Bio Available
Jesper Lov
Head of Media Relations
No Bio Available
Ms. Susana Elvira
Executive VP & Chief People Officer
No Bio Available
Mr. Lars-Erik Brenoe
Executive Vice President
No Bio Available
Ms. Louise Munter
Head of Corporate Communication - Energy division
No Bio Available
Ms. Caroline Pontoppidan
Executive VP & Chief Corporate Affairs Officer
No Bio Available

Contacts

Address
KOEBENHAVN K
Esplanaden 50
Contacts
+4533633363.0
www.maersk.com