News / Q1 'better than expected' for Maersk – but 'there's more pressure to come'

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Stronger-than-expected demand and continuing disruption from the Red Sea crisis produced a better-than-expected return for AP Møller Maersk in the first quarter, supported by increased profitability in its terminals division.

Groupwide revenues in Q1 declined 13% year on year, to finish at $12.4bn, while quarterly EBIT came in at $177m, compared with $2.3bn in Q1 23 – its overall margin declining from 16.4% last year, to 1.4% in the first quarter of this year.

However, it was a much-improved performance on the ...