A.P. MØLLER HOLDING A/S ANNUAL REPORT 2019 · MANAGEMENT REVIEW
A.P. MOLLER - MAERSK A.P. Moller - Maersk delivered a solid EBITDA of USD 5.7bn (USD 5.0bn) and continues to execute on the strategy transforming the conglomerate to an integrated global transport and logistics company.
EXECUTIVE BOARD • Søren Skou (CEO) • Patrick Jany (CFO as of May 2020) • Henriette Thygesen • Morten H. Engelstoft • Vincent Clerc BOARD OF DIRECTORS • Jim Hagemann Snabe (Chairman) • Ane M. M. Uggla (Vice Chairman) • Arne Karlsson • Bernard Bot • Blythe Masters • Dorothee Blessing • Marc Engel • Robert M. Uggla • Jacob Andersen Sterling • Thomas Lindegaard Madsen
A.P. Moller - Maersk was founded by A.P. Møller in 1904. The A.P. Moller Foundation has since its establishment in 1953 been the controlling shareholder of the entities which today make up A.P. Moller - Maersk. The Foundation’s shareholding is held by A.P. Møller Holding A/S, which holds 41.51% of the shares and 51.45% of the voting rights in A.P. Møller - Mærsk A/S. THE YEAR IN BRIEF A.P. Moller - Maersk continued to progress on the transformation journey which was initiated in the autumn of 2016. In 2019, a number of important milestones were met, including the completion of the energy separation with the demerger and separate listing of Maersk Drilling and the integration of Hamburg Süd. In connection with the full year 2018 results released in February 2019, A.P. Moller - Maersk announced four metrics to measure the progress on the strategic transformation (i) cash return on invested capital (CROIC), (ii) non-ocean revenue, (iii) gross profit in Logistics & Services and (iv) synergy target related to the Hamburg Süd acquisition. A.P. Moller - Maersk has during 2019 seen
improvement on all four measures highlighted by an improvement in CROIC from 2.8% in 2018 to 9.3% in 2019. The transformation from a conglomerate to one focused company continues, including forming a new global frontline simplifying engagement with customers and integrating support functions into global teams, improving service offering while reducing costs. In February 2020, A.P. Moller - Maersk announced the acquisition of the US based warehousing and distribution company Performance Team, to further strengthen its capabilities as an integrated container logistics company, offering end-to-end supply chain solutions to its customers. Safety remains a priority for A.P. Moller - Maersk. Regrettably, three people lost their lives while engaged in operational activities in 2019. A.P. Moller - Maersk works continuously on improving the safety standards, and launched a new safety approach focusing on leadership, accountability and culture in 2019.
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