A.p. Moller - Maersk A/s Class A · OMXCOP:MAERSK_A
A.p. Moller - Maersk A/s Class A — A.P Moller - Maersk — Q1 2025 Earnings Presentation
28 slides from A.p. Moller - Maersk A/s Class A's earnings presentation, May 8, 2025
Slide 1: Q1 2025 Investor Presentation
A.P. Møller - Mærsk A/S Q1 2025 Investor Presentation
Slide 2: Forward-looking statements
Forward-looking statements This presentation contains forward-looking statements. Such statements are subject to risks and uncertainties as various factors, many of which are beyond the control of A.P. Møller - Mærsk A/S (APMM), may cause actual developments and results to differ materially from the
Slide 3: Q1 2025 highlights
Q1 2025 highligents g Maersk || MAER MAERSK
Slide 4: Q1 – solid delivery in an increasingly volatile environment
Highlights Q1 2025 Q1 – solid delivery in an increasingly volatile environment • Operational improvements and proactive cost measures showing impact, resulting in first quarter EBITDA of USD 2.7bn and EBIT of 1.3bn • Logistics & Services on track with EBIT margin improvement to 4.1%, representing si
Slide 5: Operational improvements and proactive cost measures
Highlights Q1 2025 Operational improvements and proactive cost measures Logistics & Services Ocean Terminals Tracking positively Solid profitability Excellent performance 14.5% USDm USDm USDm 12.5% 11.9% 45.4% 11.3% 6.8% 7.4% 6.4% 5.3% 5.4% 4.1% 28.5% 36.4% 3.9% 19.9% 8.3% 26.1% 30.0% 32.0% 2.0% 23.
Slide 6: Continued strategic progress amid increasingly volatile external environment
IR to update 2021–2025 Continued strategic progress amid increasingly volatile external environment Segment KPI Targets(1) LTM Return on invested capital Every year APMM (ROIC) – (LTM) >7.5% 14.3% Return on invested capital Average 2021- 29.9%(2) (ROIC) – (Average) 25 >12.0% EBIT margin – under Ocea
Slide 7: View on supply-demand imbalance remains unchanged, with delay of Red Sea re-opening
View on supply-demand imbalance remains unchanged, with delay of Red Sea re-opening vs more uncertain market demand Estimated impact on supply (TEUs) Latest view Market drivers Description as at Feb ’25 as at early May ’25 New industry deliveries • TEU capacity increase +2m Unchanged in 2025 • TEU c
Slide 8: Level of uncertainty for rest of year has increased as a result of tariffs
Level of uncertainty for rest of year has increased as a result of tariffs and continued trade tensions – but so far largely US centric Logistics & Services Ocean Terminals Strengthening performance allows Gemini is offering an increased Facing uncertainties from a position us to support customers i
Slide 9: 2025 financial guidance unchanged
Highlights 2025 financial guidance unchanged • APMM now expects global container volume growth in a range of -1% USDbn FY25 guidance to 4% in 2025, given the increased macroeconomic and geopolitical uncertainty. APMM expects to grow in line with the market Underlying EBITDA 6-9 Underlying EBIT 0-3 •
Slide 10: Q1 2025 Financial review
Q1 2025 Financial review MAERSK
Slide 11: Solid delivery in the first quarter
Financial review Solid delivery in the first quarter USDm Q1 ‘25 Q4 ‘24 Q1 ’24 • Sequentially, Ocean profitability down as expected given declining rates, L&S flat with continued operational progress, excellent Terminals Revenue 13,321 14,594 12,355 performance • Quarterly profitability increased ye
Slide 12: Strong free cash flow – significant dividend and share buy-back in Q1
Financial review Strong free cash flow – significant dividend and share buy-back in Q1 Cash flow bridge for Q1 ‘25, USDm • Operational cash flow of USD 2.8bn, driven mainly by EBITDA of USD 2.7bn 3,000 2,766 • Cash conversion of 102% 2,500 -801 for the quarter 2,000 • Free cash flow of USD 1,500 -1,
Slide 13: Ocean
First quarter 2025 Development in EBIT (USDm) and EBIT margin (%) Ocean 3,000 30% 2,000 • Volumes stable YoY (+0.1%) but down QoQ (-6.5%) 15% 1,000 • Freight rates 2.5% higher YoY while lower QoQ as 0% expected as rate erosion continued 0 • Utilisation of 92%, following normal seasonality -1,000 -15
Slide 14: Ocean | EBITDA benefitted from higher freight rates, lower bunker prices and revenue recognition
First quarter 2025 Ocean | EBITDA benefitted from higher freight rates, lower bunker prices and revenue recognition USDm 2,000 1,903 695 1,500 150 124 1 3 228 1,000 956 Driven by Volumes up Bunker price down higher Terminal by +0.1% at USD 569 / Driven mainly by and Empty tonne timing effect of Load
Slide 15: Ocean | Increased freight rates, stable volumes and costs
First quarter 2025 Ocean | Increased freight rates, stable volumes and costs • Average freight rates increased by 2.5% YoY but continued the declining trajectory since July 2024 Ocean KPIs Q1 ‘25 Q4 ‘24 QoQ % Q1 ’24 YoY % peak as a result of increasing supply Average freight rate (USD/FFE) 2,427 2,6
Slide 16: Logistics & Services
First quarter 2025 Development in EBIT (USDm) and EBIT margin (%) Logistics & Services 200 6% 5% 150 4% 100 3% • Revenue stable (-0.5%) based on volume growth 2% 50 across most products in particular Customs and 1% Warehousing and E-Fulfilment 0 0 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 2
Slide 17: Logistics & Services | Profitable growth in Managed by Maersk
First quarter 2025 Logistics & Services | Profitable growth in Managed by Maersk • Freight Management revenue increased by Revenue | USDm Key products Q1 ‘25 Q1 ’24 YoY % USD 85m to USD 553m (18%) and EBITA • Lead Logistics margin increased to 21.0% (17.3%). Increases Managed by • Project Logistics
Slide 18: Terminals
First quarter 2025 Development in EBIT (USDm) and EBIT margin (%) Terminals 400 35% 30% • Revenue increased by 23% to USD 1.2bn 300 25% driven by 8.4% higher volume and a significantly improved revenue per move 20% 200 15% • Revenue per move increased by 13% (14% like-for- 10% 100 like) driven by hi
Slide 19: Terminals | Strong performance driven by an improved top line
First quarter 2025 Terminals | Strong performance driven by an improved top line USDm 550 500 -81 142 444 450 -15 400 Higher labour 50 costs and 348 350 revenue-driven Increase in storage revenue, rate concession fees 300 increases and 8.4% increase, driven improved terminal by North America, 250 mi
Slide 20: Questions and answers
Questions and answers To ask a question, please press “*1” Reminder: ONE question per turn
Slide 21: Final remarks
IR to update Final remarks • Solid delivery, with continued operational improvements and proactive cost measures in an increasingly uncertain environment • L&S on track with EBIT margin improvement, solid profitability in Ocean and continued strong results in Terminals • Deploying all levers to impr
Slide 22: Appendix
ALL THE WAY
Slide 23: We carry on with our strategic priorities for 2025
Highlights We carry on with our strategic priorities for 2025 Logistics & Services Ocean Terminals • Achieve 6% EBIT margin • Fully implement Gemini to • Enable Gemini network reach 90%+ schedule through world-class hub • Continue growth trajectory reliability terminals from 2024 • Continue to bring
Slide 24: Financial highlights Q1 2025
Financial highlights Q1 2025 Revenue EBITDA EBIT CAPEX Invested Capital USD million Q1 ‘25 Q1 ‘24 YoY % Q1 ‘25 Q1 ‘24 YoY % Q1 ‘25 Q1 ’24 YoY % Q1 ‘25 Q1 ‘24 YoY % Q1 ‘25 Q1 ’24 YoY % Ocean 8,910 8,009 11% 1,903 956 99% 743 -161 NM 1,168 325 259% 31,647 29,455 7.4% Logistics & Services 3,488 3,504 -
Slide 25: Consolidated financial information
Consolidated financial information Income statement (USDm) Q1 ’25 Q1 ’24 FY24 Key figures and financials (USDm) Q1 ’25 Q1 ’24 FY24 Revenue 13,321 12,355 55,482 Profit/loss for the period 1,207 208 6,232 EBITDA 2,710 1,590 12,128 Gain/loss on sale of non-current -55 -7 -222 assets etc., net EBITDA ma
Slide 26: Consolidated financial information
Consolidated financial information Cash flow statement (USDm) Q1 ’25 Q1 ’24 FY24 Profit/loss before financial items 1,253 177 6,499 Non-cash items, etc. 1,494 1,506 5,878 Change in working capital 157 -474 -311 Taxes paid -138 -114 -658 Cash flow from operating activities (CFFO) 2,766 1,095 11,408 C
Slide 27: Balance sheet and capital allocation
Balance sheet and capital allocation Debt & cash position (USDm) Q1 ’25 Q4 ’24 Q1 ’24 Borrowings 5,188 5,065 5,418 Lease liabilities 11,851 11,412 10,345 Other 78 172 114 Total gross debt 17,117 16,649 15,877 Cash and bank balances 7,128 6,575 7,365 Short term deposits(1) 13,410 15,867 11,604 Securi
Slide 28: IR Contact Information & Financial Calendar
IR Contact Information & Financial Calendar Investor Relations Contacts Financial Calendar Stefan Gruber 7 August 2025 Q2 2025 Interim Report Head of Investor Relations +45 3363 3484 6 November 2025 Q3 2025 Interim Report Mikkel Johansen 13 November 2025 Capital Markets Day Senior Investor Relations