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31 May 2023

Annual Report 2022

During an extraordinary year, A.P. Moller Holding delivered strong results and experienced good momentum on many fronts

The A.P. Moller Group ended 2022 on a historic high note financially, with revenue of DKK 611bn (USD 86bn), EBITDA of DKK 266bn (USD 38bn), a net result of DKK 204bn (USD 29bn), and total assets of DKK 790bn (USD 113bn).

A.P. Møller Holding A/S (A.P. Moller Holding), the parent company of the A.P. Moller Group, continued its strategy to invest in and develop businesses (‘nyttig virksomhed’) across four selected themes: 1. global trade, 2. the energy transition, 3. circularity, water & waste recovery and 4. demographics & societal changes.

“Our Group navigated a volatile environment in 2022, with a pandemic coming to an end, the beginning of a brutal war in Ukraine, increased geopolitical fragmentation, congested supply chains, disrupted energy markets, and rapidly rising inflation. A.P. Moller Holding, the parent company of our Group, delivered strong results and showed good momentum on many fronts. We are grateful for the huge contributions from many colleagues across our Group.”
Robert M. Uggla, CEO at A.P. Moller Holding


  1. A.P. Moller – Maersk delivered all time high results due to strong container freight markets
  2. Danske Bank reached final settlements with US and Danish authorities in connection with the Estonia case
  3. We completed the acquisition of Unilabs, which during the year, acquired RIMED, a leading Swiss diagnostic radiology company, and Le Labo, a French in-vitro diagnostics company
  4. Faerch continued its growth and completed the acquisition of PACCOR
  5. The merger between Maersk Drilling and Noble Corporation was successfully completed
  6. KK Wind Solutions announced the acquisition of Vestas’ converter & controls business and is about to become the world’s biggest converter producer for the wind industry
  7. Maersk Tankers and Maersk Product Tankers delivered strong results due to strong tanker freight markets
  8. Innargi signed a contract with Aarhus and an LOI for parts of the Copenhagen area
  9. We established a Growth Equity team to invest in technology oriented late-stage venture companies
  10. We further developed our public market portfolio, beating the global MSCI benchmark for the 3rd year in a row

For further information please contact Mika Bildsøe Lassen, Head of Branding and Corporate Communications, or +45 2055 2655

The A.P. Moller Group

The A.P. Moller Group is a diversified group of industry leading companies. While independently run with dedicated boards and executive teams, we facilitate collaboration, networking, and sharing of best practices across the portfolio companies. A.P. Moller Holding is the parent company of the Group, investing in and building businesses with a positive impact on society – ‘nyttig virksomhed’.

News from the A.P. Moller Group

A.P. Moller invests in Tenderd

Tenderd is a global leader in digital transformation for heavy equipment management and operations.

Chetan Mehta, Head of Growth Equity at A.P. Moller Holding, said: “Tenderd is a leader within telematics solutions with a platform that offers real-time visibility and insights for heavy equipment across a range of industries. Their solutions enhance operational efficiencies, improve safety and mitigate carbon emissions. We are excited to be investing in Tenderd and we look forward to contributing to their continued growth.”

Novo Holdings and A.P. Moller Holding back CIRCTEC, a leader in pyrolysis for sustainable end-of-life tyre recycling, in a €150 million financing round

Novo Holdings and A.P. Moller Holding have enabled a €150 million fundraise for CIRCTEC by leading with a €75 million equity investment. Financing includes €22.5 million of grants awarded by the Government of the Netherlands.

Svitzer joins the A.P. Moller Group

We are happy to welcome Svitzer as a stand-alone company to the A.P. Moller Group.