A.P. MØLLER HOLDING A/S
ANNUAL ∙ REPORT 2017
WHAT IS NEXT IN 2018? The third phase of our company’s journey, the development of our future portfolio, is only in its infancy. As the Greek philosopher Socrates said, “the unexamined life is not worth living”. This certainly applies to our company’s raison d'être and future. As we strengthen our investment team, including the recruitment of a Chief Investment Officer, we will in the coming year review our strategy for large investments. In such quest, we are guided by A.P. Moller’s legacy. The English translation of the deed of the A.P. Moller Foundation states “… the companies should stay well consolidated, so that the primary focus is not about distributing big dividends, but building companies having a positive impact (“at opbygge nyttig virksomhed”). “At opbygge nyttig virksomhed” is at the very heart of A.P. Moller Holding’s ownership and investment strategy. As a concluding remark, let me as CEO extend my gratitude to our team in A.P. Moller Holding for their significant efforts and contributions in the past year.
OUR STRATEGIC BELIEFS
A.P. Moller Holding is an owner and investor in the spirit of our founder A.P. Møller; investing in and building new businesses that have a positive impact on society (“nyttig virksomhed”). A.P. Moller Holding is the cultural custodian of the A.P. Moller and Maersk name and values. A.P. Moller Holding is an engaged long-term owner with a point of view on key matters. A.P. Moller Holding seeks portfolio renewal to safeguard the long-term viability of its portfolio. We believe portfolio renewal comes from building new businesses inside and outside of our core holdings. A.P. Moller Holding is open to reconsider ownership of a business, if its business model does not have a positive impact on society, and/or lacks prospects for competitive value creation over time. A.P. Moller Holding’s ownership in A.P. Moller – Maersk is to be diluted nor divested. A.P. Moller Holding aspires to hold a diversified and financially robust portfolio to sustain black swans and unforeseen negative events.
ROBERT M. UGGLA
A.P. Moller Holding pays dividends to the A.P. Moller Foundation, in order for
CEO
the Foundation to contribute to and support society in the form of donations.
7
