(Sharecast News) - Maersk has narrowed and raised its profit forecasts for the full year after the Danish shipping titan revised up its estimates for global container market volumes, though shares fell sharply as third-quarter results declined.
The company now expects to report underlying EBITDA of $9.0bn-9.5bn in 2025, lifting the lower end of its previous guidance range from $8.0bn.

However, revenues and profits were both lower year-on-year in the third quarter as continued pressure on freight rates outweighed strong container volumes.

Group revenues fell 9.9% to $14.21bn from a year earlier, as a 31% drop in loaded freight rates dragged Ocean revenues down 17% to $9.18bn, offsetting strong revenues in both the Logistics and Services, and Terminals businesses.

Group EBITDA totalled $2.69bn, down from $4.80bn the year before, as the EBITDA margin slumped to 18.9% from 30.4%. Capital expenditure meanwhile jumped to $1.20bn from $0.94bn.

Nevertheless, the company said operational savings from its Gemini Cooperation - a shipping alliance with peer Hapag-Lloyd to create a joint ocean freight network for East-West trade routes - had supported profitability in the face of falling rates, as the companies pool together vessels to cut costs.

"The new East-West network has strengthened our Ocean performance, delivering industry-leading reliability, higher volumes and lower costs," said Maersk chief executive said Vincent Clerc.

"Terminals achieved another record quarter with strong volume growth, and Logistics & Services continued to enhance profitability. As market conditions fluctuate, we are well positioned to help our customers adapt and maintain stability across their supply chains."

The stock was down 5.2% at DKK12,865 by 1342 in Copenhagen.

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