a.p. møller - mærsk a/s m&a & projects shape your ... growth strate… · *maersk...
TRANSCRIPT
Company overview
Slide no. 1
A.P. Møller - Mærsk A/S M&A & Projects Shape your international growth strategy
The Maersk Group at a glance
Diversified global conglomerate founded in 1904 with activities
focused in energy and transportation
Headquartered in Copenhagen, Denmark
Listed on Nasdaq with a Market cap of USD 50bn (Oct 2014)
Approximately 89,000 employees in around 135 countries
Stable and consistent ownership structure (Møller family)
Strategic focus on:
Maersk Line
Maersk Oil
APM Terminals
Maersk Drilling
APM Shipping Services
Facilitating global containerised trade
Maersk Line carries around 14% of all seaborne containers and, together with
APM Terminals and Damco, provides infrastructure for global trade
Supporting the global demand for energy
The Group is involved with production of oil and gas and other related activities
including drilling, offshore, services, towage, and transportation of products
Slide no. 2
The Maersk Group – Company Overview
*Maersk Tankers, Maersk Supply Service, Damco and SVITZER
Employees
32,900 4,100 20,300 4,000 19,400
Revenue 2013 (USD million)
Self-funded EBIT 5%-points > peers
Grow with market
2014
400,000 boepd ROIC at least 10%
during rebuild
2020
USD 1bn NOPAT Global leader
2016
USD 1bn NOPAT Significant position in
ultra-harsh and ultra-deep seg.
2018
USD 0.5bn NOPAT Self-funded
2016
Maersk Drilling APM Terminals Maersk Oil Maersk Line Services & other shipping*
Employees
26,196 9,142 4,332 1,972 6,438
Nopat 2013 (USD million)
1,510 1,046 770 528 -85
Slide no. 3
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Market Cap Revenue LTM
Maersk in a Nordic context
USDbn
Market Cap as at October 6th 2014
Source: Bloomberg Slide no. 4
Largest transactions in the Maersk Group
Year Target Deal value
2014 Dansk Supermarked Group (48.7%) USD 3.7bn Divestment
2005 P&O Nedlloyd USD 3.2bn Acquisition
2005 Kerr-McGee USD 3.0bn Acquisition
2010 SK Energy USD 2.4bn Acquisition
2013 National Container Company (via GPI) USD 1.6bn Acquisition
2012 LNG USD 1.4bn Divestment
2013 Devon, Gulf of Mexico assets USD 1.3bn Acquisition (assets)
2012 Maersk Peregrino USD 1.2bn Divestment (assets)
2008 Broström Tankers USD 1.1bn Acquisition
2011 Netto UK USD 1.1bn Divestment
2014 Maersk Tankers VLCC USD 1.0bn Divestment (assets)
2012 Global Ports Investments (37.5%) USD 0.9bn Acquisition
Source: Merger Market, Maersk Group
Note: Deal value calculated using average exchange rates for the year of transaction
Slide no. 5
Cash flow from divestments has been USD 9.7bn with divestment gains of USD 4.7bn pre-tax since 2009
Slide no. 6
Cash flow and gains from divestments
Capital allocation strategy
page 7 page 7
• Above 10% ROIC over the cycle
• Allocation of capital towards key strategic pillars by primarily own cash flow
• Freeing up capital and management resources through divesting non-core and under performing assets
Maersk Line (Algeciras, Spain) Triple-E vessel on its back-haul voyage carrying 17,500 TEU with a mix of empty and loaded containers.
Divest (timing)
Performing marginal or
non-core asset
Fix or Divest
Under-performing core
assets
Keep/Grow
Performing core assets
Divest Under-performing non
core assets
Non-core Core
Low asset
position
High asset
advantage
High attractiveness of
underlying business
Low attractiveness of
underlying business
Slide no. 7
