A.P Moller - Maersk A/S (AMKBY) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome, everyone, and thank you for joining us on this earning call today where we present our fourth quarter and full year result for 2025. My name is Vincent Clercq. I'm the CEO of Epimolar Maersk, and with me in the room today for the last time is our CFO, Patrick Yianni. Before we start, I'd like to thank Patrick for all of his hard work and support over the past six years here at Epimolar Maersk and wish him the very, very best in the next steps of his career. As we announced back in December, Robert Ernie will succeed Patrick in the coming days. We look forward to introducing you to Robert on our upcoming roadshows and conferences. If we start with the highlights from 2025, notwithstanding a challenging external environment, especially in ocean, we are pleased with a strong year overall in which we made good operational progress across all of our business segments. We closed 2025 with a full year EBITDA and EBIT of $9.5 billion and $3.5 billion, respectively. This places us towards the upper end of the most recent financial guidance we had communicated to you back in November. Specifically, in logistics and services, we strengthened the performance of our portfolio on the back of improved operation, stronger cost and yield management measures, delivering 4.8% in EBIT margin for the year. This represents an improvement of 1.2 percentage points on 2024. We are, of course, proud of the progress we have made, but are neither complacent nor satisfied with where we are. And improving both our results and growth rates in logistics will remain a priority in 2026. In Ocean, Gemini has successfully implemented delivering unprecedented reliability for our customers and significant cost benefits, which we have revised upwards on an annual basis, and I will look at this fu...