The company saw its gross operating profit (EBITDA) increase by 14.7%, reaching 614 million euros. The main driver of this progress was the rise in transported volumes, which amounted to 3.25 million TEUs, boosted by the Trans-Pacific, Latin America, and notably, the Asia-Europe routes. The Port of Algeciras plays a relevant role in this latter route, serving as a stopover for several important shipping lines.
The increase in freight rates, coupled with strong demand in key markets, has helped to revitalize ONE's turnover. The company stated that trade between Asia and Europe has shown a steady recovery, with a better balance between supply and demand that has raised transport rates, allowing services on all routes to operate at full capacity. Till Ole Barrelet, ONE's CEO, described the quarter as "a demanding market" in which the shipping line managed to improve performance and maintain high utilization of its fleet despite external disruptions.
In light of these results, ONE has revised its forecasts upwards for the remainder of fiscal year 2026. Initial turnover estimates of 16 billion euros and a gross profit of 2.6 billion have been raised to 16.85 billion euros and 3.1 billion, respectively. Net profit has also seen a significant jump, from an estimated 260 million to 780 million, justified by the recent increase in freight rates and robust cargo demand.
The company expects high transport rate levels to be maintained, particularly during the second quarter, across various trade routes, supported by strong cargo demand. Despite adjusting forecasts for the second half to account for increased fuel costs, the first-half profit has been substantially revised upwards.
