A.P. Moller - Maersk A/S Class A · OMXCOP:MAERSK_A
A.P. Moller - Maersk A/S Class A — A.P. Møller - Mærsk — H1 2009 Earnings Presentation
17 slides from A.P. Moller - Maersk A/S Class A's earnings presentation, Aug 21, 2009
Slide 1: A.P. Møller - Mærsk A/S Interim Report
A.P. Møller - Mærsk A/S Interim Report 21 August 2009 Conference call 9.30 am CET Webcast available at www.maersk.com PAGE 1 21 August 2009
Slide 2: Forward-looking statements
Forward-looking statements The presentation contains forward-looking statements. Such statements are subject to risks and uncertainties as various factors, many of which are beyond A.P. Møller - Mærsk A/S’ control, may cause actual development and results to differ materially from the expectations c
Slide 3: Highlights YTD 2009
Highlights YTD 2009 Segment result after tax Group profit/loss USD million USD million 1,500 3,000 2008 1H 2008 2,500 2009 1H 2009 1,000 2,000 500 1,500 1,000 0 500 0 -500 -500 -1,000 -1,000 Container APM Tankers, Oil and gas Retail Q1 Q2 1H Shipping Terminals offshore and other shipping Highlights
Slide 4: Consolidated Financial Information
Consolidated Financial Information Profit and Loss 2009 2008 Index 2009 2008 (USD million) 1H 1H Q2 Q2 Revenue 22,752 30,436 75 11,728 15,992 EBITDA 4,238 8,210 52 2,241 4,648 Depreciation, amortisation 2,666 2,267 118 1,383 1,185 and impairments Sales gains 79 735 11 54 318 Associated companies 10
Slide 5: Selected special items 1H 2009
Selected special items 1H 2009 Selected special items 2009 2008 2009 (USD million) 1H 1H Q2 Sales gains +79 +735 +54 Container shipping – Restructuring costs -69 -172 -63 Tankers, offshore and other shipping -17 0 +13 - Integration costs -21 0 -4 - Onerous contracts -185 0 -143 - Impairments Oil and
Slide 6: Selected cost reduction initiatives 1H 2009
Selected cost reduction initiatives 1H 2009 Business Cost reduction initiatives Maersk Line organisation reduced by 1,500 positions on top of Container shipping 4,500 reduction in 2008 Reduced Bunker consumption APM Terminals Organisation trimmed Tankers, offshore and Combined organisation of Maersk
Slide 7: Consolidated Financial Information
Consolidated Financial Information Selected financial 2009 2008 Index 2009 2008 numbers and key figures 1H 1H Q2 Q2 (USD million) Operating cash flow 2,694 4,632 58 818 2,492 - changes in working capital 535 -580 N/A -107 -166 Investment cash flow -4,206 -4,113 102 -1,834 -1,949 Total assets 66,168
Slide 8: Container Shipping and related activities
Container Shipping and related activities 2009 2008 Index USD million Highlights YTD 2009 1H 1H Revenue 9,817 14,038 70 • Volume down 7% vs. 1H 2008 EBITDA -33 897 N/A - down 3% in Q2 vs. Q2 2008 Sales gains 28 327 9 • Rates down 30% vs. 1H 2008 EBIT -829 380 N/A - down 34% in Q2 vs. Q2 2008 Segment
Slide 9: APM Terminals
APM Terminals 2009 2008 Index USD million Highlights YTD 2009 1H 1H Revenue 1,426 1,517 94 • APM Terminals volume declined EBITDA 326 317 103 8% compared to 1H 2008 vs. Sales gains 4 62 6 global market decline of 15% EBIT 179 244 73 Segment result after tax 172 232 74 • Other customers than Maersk L
Slide 10: Tankers, offshore and other shipping activities
Tankers, offshore and other shipping activities 2009 2008 Index USD million Highlights YTD 2009 1H 1H Revenue 2,625 2,541 103 • Low demand in the tanker and EBITDA 741 772 96 offshore markets Sales gains 27 354 8 - Affecting Maersk Tankers and EBIT 228 880 26 Svitzer negatively Segment result after
Slide 11: Oil and gas activities
Oil and gas activities 2009 2008 Index USD million Highlights 2009 YTD 1H 1H • Average oil price (Brent) USD Revenue 4,058 7,254 56 52 per barrel vs. 109 per barrel Exploration costs 303 302 100 in 1H 2008 EBITDA 3,199 6,168 52 • Share of oil and gas production EBIT 2,125 5,244 41 increased 8% to 81
Slide 12: Other segments
Other segments Retail activity Highlights YTD 2009 2009 2008 DKK million Index • Markets affected by the economic 1H 1H downturn Revenue 27,501 28,009 98 • Consumer switching from EBITDA 1,482 1,577 94 supermarkets to the discount sector – trend slowing in the last EBIT 1,105 1,221 90 months of 1H 2
Slide 13: Funding
Funding Outstanding commitments USD 9 billion in outstanding commitments concerning purchase of non-current assets of which: - USD 6 billion relates to newbuilding programme for ships and rigs, etc., and - USD 3 billion relates to investments in terminals and oil and gas activities Debt profile – Av
Slide 14: Outlook for 2009
Outlook for 2009 The low level of global economic activity is expected to continue in the second half of 2009. For container trade, volumes are thus expected to be somewhat below the level in the second half of 2008, and rates are expected to rise only moderately from the very low levels at the end
Slide 15: Q & A
MAERSK PAGE 15 21 August 2009 A.P.MOLLER-MAERSK GROUP
Slide 16: Consolidated Financial Information
Consolidated Financial Information Profit and Loss 2009 2008 Index 2009 2008 (DKK million) 1H 1H Q2 Q2 Revenue 127,389 148,365 86 64,419 76,521 EBITDA 23,732 40,021 59 12,326 22,304 Depreciation, amortisation 14,929 11,050 135 7,606 5,668 and impairments Sales gains 440 3,583 12 298 1,509 Associated
Slide 17: Consolidated Financial Information
Consolidated Financial Information Selected financial 2009 2008 Index 2009 2008 numbers and key figures 1H 1H Q2 Q2 (DKK million) Operating cash flow 15,096 22,579 67 4,411 11,936 - Changes in working capital 3,006 -2,827 N/A -629 -811 Investment cash flow -23,550 -20,048 117 -10,000 -9,285 Total as