A.P. MØLLER HOLDING A/S ANNUAL REPORT 2018 MANAGEMENT REVIEW
HIGHLIGHTS
FIVE-YEAR SUMMARY Amounts in DKKm
2018
2017
2016
2015
2014
260,964 2,201 12,814 - 2,815 22,464 10,942
219,319 4,863 - 3,725 - 4,125 - 2,991 1,388
204,575 502 - 897 - 3,916 - 11,051 - 1,349
226,659 3,200 26,170 - 2,827 7,656 3,466
214,152 2,499 35,022 - 3,337 40,264 11,754
Average number of employees
83,527
80,992
82,011
81,868
82,642
BALANCE SHEET Total assets as of 31 December Equity as of 31 December
413,174 255,819
435,298 229,502
464,366 256,376
458,279 267,107
425,174 262,203
CASH FLOW STATEMENT Cash flow from operating activities Purchase of property, plant and equipment
24,771 - 19,857
25,004 - 35,950
11,170 - 14,991
30,619 - 31,183
45,750 - 35,160
INCOME STATEMENT Revenue Share of profit in associated companies Profit/loss before financial items (EBIT) Financial items, net Profit/loss for the year A.P. Møller Holding A/S' share of profit/loss
FINANCIAL RATIOS Return on equity Equity ratio
9.3% 61.9%
-1.2% 52.7%
-4.2% 55.2%
2.9% 58.3%
The five-year key figures are based on the consolidation for A.P. Moller Holding group and have been adjusted for discontinued operations (Maersk Oil and Maersk Supply Service).
8
16.3% 61.7%
A.P. Moller - Maersk continued progressing their transformation from a conglomerate to a focused global container integrator. During the year, A.P. Moller - Maersk completed the sale of Maersk Oil to Total S.A. and announced the demerger of Maersk Drilling. Maersk Drilling was listed separately in April 2019.
Danske Bank experienced a challenging year due to the AML case, leading to A.P. Moller Holding requesting an extraordinary general assembly electing a new chairmanship for Danske Bank. The underlying financial result reflected the steady development in the Nordic economies.
A.P. Moller Holding completed the partial sale of Maersk Product Tankers to Mitsui & Co. Ltd. who as co-investor provides valuable insight to the product tanker market. The tanker market was challenged in large part of the year with rates below breakeven, but with a strong pick up at year end.
A.P. Moller Capital successfully closed fundraising for their first fund “Africa Infrastructure Fund I” with USD 1bn funding commitment obtaining support from a strong investor base. It was the biggest fund raised in the Nordics by a first time fund manager.
A.P. Moller Holding announced the ambition to introduce geothermal energy on a large scale in Denmark, based on a LOI with Aarhus municipality and potentially outside Denmark over time.
