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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

Highlights

  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, mika.lassen@apmoller.com 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

Svitzer joins the A.P. Moller Group

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

Letter from the CEO

In connection with the publication of A.P. Moller Holding’s Annual Report 2023, our CEO, Robert M. Uggla shares his reflections on last year’s activities and highlights from across the A.P. Moller Group.

Annual Report 2023

A.P. Moller Holding enjoyed strong cash inflow and experienced an increase in net asset value in 2023 despite headwinds in global trade