A.P. MLLER - MRSK A/S INVESTOR PRESENTATION Date 29 May 2019
Bond Investor Presentation - Page 2 Disclaimer 1/2 This document and any related oral presentations are confidential and have been prepared by A.P. Mller - Mrsk A/S (the Company) solely for use in this presentation and may not be…
Bond Investor Presentation - Page 3 Disclaimer 2/2 The securities contemplated by this document are not intended to be offered or sold to and should not be offered or sold to any retail investor in the EEA. For these purposes, a…
A.P. Moller - Maersk A/S - at a glance Established 1904: 110+ years of financial strength with stable and consistent ownership structure. Headquartered in Copenhagen, Denmark. Market cap of around USD 22bn1. An integrated…
Bond Investor Presentation- Page 7 The global integrator of container logistics Connecting and simplifying our customers supply chain Simple end-to-end offering of products and services, helping customers manage their global…
Bond Investor Presentation- Page 8 The reporting consist of four different segments Supporting the strategy of being one company with multiple brands Manufacturing & Ocean Logistics & Services Terminals & Towage Others…
Bond Investor Presentation- Page 9 Leveraging existing strong positions Throughout the global value chain Supplier Unique starting point to create a truly integrated container logistics company Increased terminal…
Bond Investor Presentation- Page 10 Tracking our strategic transformation In a structured manner, showing the progress externally Long-term ROIC target above 7.5% Non-Ocean revenue increased supporting the ambition of creating…
Bond Investor Presentation- Page 11 Completing the separation of Energy businesses The demerger of Maersk Drilling marks the ending of the separation process Maersk Tankers was sold for USD 1.2bn in an all- cash transaction in…
Bond Investor Presentation- Page 12 Customer satisfaction is key Supported by digitalisation Improve Improve cost and Develop new Illustrative customer experience asset productivity revenue sources examples www.maersk.com…
Bond Investor Presentation- Page 14 Credit highlights Moderate leverage through the cycle - conservative financial policies, including dividend policy Summary Integrated container shipping, ports and logistics provider Material…
Market overview
Bond Investor Presentation- Page 16 The market outlook A more balanced outlook SCFI and CCFI index Global nominal supply and demand growth 1 SCFI 2019 CCFI 2019 SCFI 2018 CCFI 2018 Global nominal capacity Global container…
Bond Investor Presentation- Page 17 The liner industry is consolidating and top 5 share is growing 7 of the top 20 players have been acquired or merged in the past 4 years 96 98 00 02 04 06 08 10 12 14 16 18 Wave 3 Wave 2 Wave…
Bond Investor Presentation- Page 18 Global container trade grew around 1.7% in 2019 Q1 Europe improving while North-South and especially Latin America remain weak 2 Global North America Europe Intra -3 2 8 Europe 7 6 2…
Bond Investor Presentation- Page 19 Maersk liner Maersk capacity market share by trade capacity market No. 2 share Pacific 9% No. 5 Atlantic 16% No. 3 Intra Europe 20% Asia-Europe 21% No. 1 No. 1 No. 2 Intra…
Bond Investor Presentation- Page 20 IMO2020 Regulation status and Maersk positioning Global sulphur cap to enter into force on 1st January The bunker cost could increase by more than USD 2bn 2020 Historic prices and forward curves 1…
Bond Investor Presentation- Page 21 Diversified and stable terminal portfolio1 Container throughput by geographical region Geographical split of terminals Equity weighted 11% Number of terminals crane moves, % 32% 25 Africa &…
Financial highlights
Bond Investor Presentation- Page 23 Highlights for 2018 and Q1 2019 2018 held strong revenue growth, whereas Q1 2019 saw improved earnings and cash flow 2018 full year Q1 2019 Strong revenue growth unsatisfactory profitability…
Bond Investor Presentation- Page 24 Consolidated financial information with IFRS16 impact XXX Income statement (USDm) Q1 2018 FY 2018 FY 2018 For 2018, EBITDA increases by USD 1.2bn to USD 5.0bn from USD 3.8bn (Continuing…
Bond Investor Presentation- Page 25 Free cash flow in 20181 and Q1 20192 Further supported by the sale of Total S.A. shares Development in cash flows USDm USDm A total cash flow of FY 2018 FY 2017 Q1 2019 Q1 2018 USD 3.0bn has…
Bond Investor Presentation- Page 26 CAPEX commitments remain at a historically low level At USD 2.0bn at the end of Q1 2019 Capex excluding acquisitions and divestments1, USDm Contractual Capex Commitments, USDm Ocean…
NIBD development Q3-16 to Q1-19 Out of USD 12.1bn in Energy FCF and proceeds, USD 5.7bn has been used for deleveraging Deleveraging of USD 5.7bn in NIBD over the period (excl. IFRS16) provided by USD bn cash flows and proceeds of USD…
Funding
Bond Investor Presentation- Page 29 Financial policy & funding strategy Ensuring conservative capital structure through the cycle A.P. Moller - We are committed to remain investment grade rated. Maersks financial BBB (Stable)…
Bond Investor Presentation- Page 30 Funding position Ensuring conservative and diverse debt structure Our gross debt includes operational leases since Jan 1st 2019 as a result of USDbn the implementation of IFRS16 Maturity profile…
Bond Investor Presentation- Page 31 Ownership & dividend policy Stable and consistent ownership structure The Foundation The shares are listed on NASDAQ Copenhagen and are divided into two classes: The Family Foundation (1953)…
Appendix
Bond Investor Presentation- Page 33 Ocean Revenue EBITDA (USD m) 29% 2,777 3,007 FY 2018 FY 2017 FY 2017 FY 2018 In 2018 Ocean reported an increase in Revenue Q1 2019 (USDm) Q1 2018 (USDm) FY 2018 (USDm) FY 2017 (USD…
Bond Investor Presentation- Page 34 Logistics & Revenue EBITDA (USD m) 5.1% 139 Services Logistics & Services revenues increased 98 by 5% to USD 6.1bn in 2018 from USD FY 2018 FY 2017 5.8bn in 2017. The increase in revenue…
Bond Investor Presentation- Page 35 Terminals & Revenue EBITDA (USD m) 8.4% 639 Towage 778 In 2018 Terminals & Towage reported an FY 2017 FY 2018 FY 2018 FY 2017 increase in revenue of 8.4% to USD 3.8bn (USD 3.5bn), and an…
Bond Investor Presentation- Page 36 Manufacturing Revenue EBITDA (USD m) 50% & Others 173 Manufacturing & Others revenue increased by 51% to USD 2.5bn (USD 1.7bn), 59 FY 2018 FY 2017 impacted by the inclusion of acquired…
Bond Investor Presentation- Page 37 Credit Ratings Overview Baa3, Stable Outlook BBB, Stable Outlook 27 May 2019 & 12 December 2018 28 May 2019 Leadership in the global container shipping sector and its solid market Solid free…
Bond Investor Presentation- Page 38 Our sustainability strategy Working towards carbon-neutral shipping Our targets 2018 performance ZERO 60% 41% Net emissions Relative Relative reduction from our own reduction by YTD…
Loading...
