A.P. Moller - Maersk A/S Class A · OMXCOP:MAERSK_A

A.P. Moller - Maersk A/S Class A — A.P. Møller - Mærsk — Debt Investor Presentation (October 2009)

33 slides from A.P. Moller - Maersk A/S Class A's debt investor presentation, Oct 22, 2009

  1. Slide 1: A.P. Møller - Mærsk A/S

    A.P. Møller - Mærsk A/S October 2009 Private and confidential

  2. Slide 2: Disclaimer

    Disclaimer This presentation ("Presentation") is strictly confidential to the recipient and has been prepared by A.P. Moller - Maersk A/S (the "Company"). By accessing this Presentation, you agree to be bound by the following terms. This Presentation may not be reproduced, retransmitted or further d

  3. Slide 3: Agenda

    Agenda A.P. Moller - Maersk history & business today Business lines Financials Funding strategy PAGE 3/32 3 22 October 2009 Private and confidential

  4. Slide 4: A.P. Møller – Maersk Group - Who we are

    A.P. Moller – Maersk Group - Who we are ƒ Diversified global conglomerate with activities focussed in energy, transportation & retail ƒ 100 years+ of financial strength - established in 1904 ƒ 107th largest company in the world (Forbes 2009) ƒ Headquarter in Copenhagen, Denmark ƒ Listed on NASDAQ OM

  5. Slide 5: A.P. Moller - Maersk Group milestones

    A.P. Moller - Maersk Group milestones 1904: 1928: 1928: 1959: 1962: 1964: 1967: 1972: Company First liner The first Opening of Oil Dansk Maersk Maersk established service tanker the new exploration Supermarked Supply Contractors with a general between vessel was shipyard at and (retail Service estab

  6. Slide 6: A diversified conglomerate with a balanced portfolio

    A. P. Moller – Maersk Group - A diversified conglomerate with a balanced portfolio A. P. Moller – Maersk Group Tankers, offshore & Oil & Gas Container shipping Terminals Retail other shipping Shipyards / Danske Bank & other Revenue Operating cash flow Net result 4% 0% 4% 8% 11% 15% 21% 4% 24% 3% 16%

  7. Slide 7: Key credit strengths

    Key credit strengths Key credit strengths Market ƒ World’s leading player in container shipping, tankers, terminals, tugs and niche off-shore supply position services with a strong global network and brand recognition ƒ Among the world’s top oil and gas companies, with revenues of USD13.5bn FY08 Oil

  8. Slide 8: Agenda

    Agenda A.P. Moller - Maersk history & business today Business lines Financials Funding strategy PAGE 8/32 8 22 October 2009 Private and confidential

  9. Slide 9: Divisional revenue and EBITDA development

    Divisional revenue and EBITDA development Revenue generation EBITDA growth 70,000 18,000 16,000 60,000 % 18 9% GR: 14,000 :1 50,000 CA GR -08 12,000 CA 04 -08 40,000 04 USDm USDm 10,000 30,000 8,000 6,000 20,000 4,000 10,000 2,000 0 0 2004 2005 2006 2007 2008 H1 09 2004 2005 2006 2007 2008 H1 09 Exc

  10. Slide 10: Maersk Oil - Highlights

    Oil and Gas activities 54% Oper. cash flow FY2008 Maersk Oil - Highlights Entitlement Production of oil Maersk Oil is a midsize international oil and gas company and Kazakhstan Qatar ranks among the world’s top independent oil and gas companies UK Denmark with production of about 710,000 barrels per

  11. Slide 11: Container Business and related activities

    22% Container Business and related activities Oper. cash flow FY2008 Container Business - Highlights Our Brands ƒ World largest container line with a global market share of 15% : Container shipping with ƒ Total Maersk Line and Safmarine fleet world wide coverage ƒ 257 own vessels (Q2 09) : Container

  12. Slide 12: Tankers, offshore and other shipping activities

    Tankers, offshore and other shipping activities 14% Oper. cash flow FY2008 Maersk Tankers Drilling & FPSOs & LNG Maersk Supply Service Maersk Drilling is one of the leaders in the Maersk Supply Service is the most Maersk Tankers own and operate a industry. The fleet consists of deepwater internation

  13. Slide 13: APM Terminals

    APM Terminals 6% Oper. cash flow FY2008 APM Terminals – Highlights APMT equity weighted throughput ƒ Worlds 3rd largest global terminal operator 35 CAGR ƒ Capacity of 94 million TEU +13% ƒ 48 terminals in 34 countries on 5 continents 30 ƒ 10 new terminals under development 25 mill TEU ƒ Serves more

  14. Slide 14: Retail & Other Businesses

    Retail & Other Businesses 4% Oper. cash flow FY2008 Dansk Supermarked Danske Bank Odense Stålskibsværft Dansk Supermarked is a leading The A.P. Moller – Maersk Group owns Odense Steel Shipyard is designing and retailer of convenience goods and is 20% of the shares in Danske Bank A/S building innovat

  15. Slide 15: Agenda

    Agenda A.P.Moller-Maersk history & business today Business lines Financials Funding strategy PAGE 15 15/32 22 October 2009 Private and confidential

  16. Slide 16: Long term solid financial achievement

    Long term solid financial achievement Revenue Cash Flow from Operating Activities 8 7 80 6 5 USD bn. 60 USD bn. 4 40 3 2 20 1 0 0 2004 2005 2006 2007 2008 1H 2009 2004 2005 2006 2007 2008 1H 2009 ƒ Steady growth in revenue due to combination of organic ƒ Positive cash flow from operations throughout

  17. Slide 17: Consolidated Financial Information

    Consolidated Financial Information Profit and Loss 2004 2005 2006 2007 2008 1H 09 (USD million) Revenue 26,490 34,843 43,743 51,218 61,211 22,752 % change 32% 26% 17% 20% EBITDA 6,735 8,342 8,610 11,919 16,478 4,238 % margin 25% 24% 19% 23% 27% Depreciation, amortisation and impairments (2,118) (2,9

  18. Slide 18: Consolidated Financial Information

    Consolidated Financial Information Cash Flow and Balance Sheet 2004 2005 2006 2007 2008 1H 09 (USD million) Operating cash flow 4,849 5,564 3,987 7,313 8,524 2,694 Cash flow used in Capex (3,053) (10,467) (5,771) (9,000) (10,281) (4,206) Total assets 33,227 45,152 55,409 64,648 64,925 66,168 Total e

  19. Slide 19: Highlights 1H 2009

    Highlights 1H 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 Terminals Tankers, Oil & Retail Shipyards, Q1 Q2 1H Shipping offshore & gas other other industial, D

  20. Slide 20: Agenda

    Agenda A.P. Moller - Maersk history & business today Business lines Financial strength Funding strategy PAGE 20 20/32 22 October 2009 Private and confidential

  21. Slide 21: Future capex commitments funded

    Future capex commitments funded 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 acti

  22. Slide 22: A.P. Møller – Mærsk funding strategy

    A.P. Møller – Mærsk funding strategy Financing ƒ Conservative capital structure for over 100 years – remains company policy philosophy Leverage ƒ As at FY08, the Group’s unadjusted Net Debt / EBITDA was ca. 1.0x (0.5x-1.5x range last 10yrs) ƒ Significant liquidity buffer through cash balances, secur

  23. Slide 23: A.P. Møller – Mærsk summary

    A.P. Møller – Mærsk summary Highlights Well diversified and balanced ƒ Diversification across a broad range of businesses including world-leading positions in container portfolio shipping, tankers, terminals, tugs and niche offshore supply services ƒ Amongst the world’s top independent oil and gas c

  24. Slide 24: Appendix

    Agenda Appendix PAGE 24 24/32 22 October 2009 Private and confidential

  25. Slide 25: Strong business portfolio within energy and offshore businesses

    A.P. Moller – Maersk Group enjoys a strong business portfolio within the energy and offshore businesses… Business description Market position Amongst world’s Maersk Oil is a midsize international oil and gas company operating an oil production of largest about 800,000 barrels per day from fields in

  26. Slide 26: Market leading positions within shipping and terminal activities

    …and market leading positions within shipping and terminal activities. Business description Market position Maersk Line is the leading container shipping company in the world. The fleet consists of Top 1 more than 500 container vessels and 1,900,000 containers, which ensures a Maersk Line comprehens

  27. Slide 27: The Executive Board acts as the daily management

    The Executive Board acts as the daily management of the A.P. Moller - Maersk Group Nils S. Andersen Odense Steel APM Terminals CEO of APMM Shipyard Years with APMM: 2 (2005-07 APMM Board member) Dansk Svitzer, Education: M.Sc. Economics Norfolk Line Supermarked and Others Maersk Container Maersk Oil

  28. Slide 28: Segment Financials

    Agenda Segment Financials PAGE 28 28/32 22 October 2009 Private and confidential

  29. Slide 29: Oil and gas activities

    Oil and gas activities 54% Oper. cash flow 1H 09 2009 2008 Index USD million Highlights 1H 2009 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,

  30. Slide 30: Container Shipping and related activities

    Container Shipping and related activities 13% Oper. cash flow 1H 09 2009 2008 Index USD million Highlights 1H 2009 1H 1H Revenue 9,817 14,038 70 EBITDA -33 897 N/A • Volume down 7% vs. 1H 2008 - Sales gains 28 327 9 down 3% in Q2 vs. Q2 2008 EBIT -829 380 N/A • Rates down 30% vs. 1H 2008 - down 34%

  31. Slide 31: APM Terminals

    APM Terminals 5% Oper. cash flow 1H 09 2009 2008 Index USD million Highlights 1H 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

  32. Slide 32: Tankers, offshore and other shipping activities

    Tankers, offshore and other shipping activities 22% Oper. cash flow 1H 09 2009 2008 Index USD million Highlights 1H 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 negativ

  33. Slide 33: Other segments

    Other segments 6% Oper. cash flow 1H 09 Retail activity Highlights 1H 2009 2009 2008 DKK million 1H 1H Index • Markets affected by the economic downturn Revenue 27,501 28,009 98 • Consumer switching from EBITDA 1,482 1,577 94 supermarkets to the discount sector – EBIT 1,105 1,221 90 trend slowing in

A.P. Møller - Mærsk — Debt Investor Presentation (October 2009) on 6ix