New financial reporting structure from Q1 2018
A.P. Møller - Mærsk A/S — New financial reporting structure from Q1 2018
As announced at the Capital Markets Day 20 February 2018 A.P. Møller — Mærsk A/S (APMM) will implement a new financial reporting structure with effect from the first quarter 2018. As part of the strategy to become the global integrator of container logistics, APMM have defined the following four new segments;
- Ocean (Maersk Line and Hamburg Süd ocean businesses and APM Terminals' strategic transshipment hubs)
- Logistics & Services (inland and logistics services performed by Damco, Maersk Line, APM Terminals and other service entities)
- Terminals & Towage (APM Terminals gateway terminals and Svitzer)
- Manufacturing & Others (Maersk Container Industry and Others)
With the new segmentation APMM will align the strategic focus on growing the non-ocean part of the business disproportionally to the ocean business, to establish a more stable long-term business less dependent on freight rates.
The new financial reporting structure supports the strategic direction towards becoming an integrated container logistics company with 'one bottom line'. For each segment, the disclosures in the quarterly and annual reports will in addition to key financial figures such as Revenue, Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) and Capex comprise certain leading operational metrics defined based on how the businesses are managed.
While the consolidated financials for 2017 for APMM are unaffected by the new reporting structure, the reported historical figures per the existing segments are not comparable with the new structure. To ensure transparency in the transformation we have attached restated financials for 2017, including quarterly figures, based on the new financial reporting structure.
The APMM guidance for 2018 is not impacted by the changes in the reporting structure.
In addition to this announcement we will host a conference call for analysts and investors on 2 May 2018 at 10.00 CET (dial in details +45 7022 3500 — participant pin code 40186829#) to review the changes made in the financial reporting structure.
Copenhagen, 2 May 2018
Head of Investor Relations, Stig Frederiksen, tel. +45 3363 3106
Head of External Relations, Signe Wagner, tel. +45 3363 1901
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