A P Moller Maersk AS (WBO:MRSA)
€ 1609 25 (1.58%) Market Cap: 25.90 Bil Enterprise Value: 35.71 Bil PE Ratio: 7.96 PB Ratio: 0.53 GF Score: 78/100

AP Moeller - Maersk A/S Annual Shareholders Meeting Transcript

Apr 02, 2019 / 08:00AM GMT
Jim Hagemann Snabe;ller;MÃ;rsk A;S;Chairman
A.P. MÃ

¸-¦/-

Thank you very much. And once again, a warm welcome to all of you. We're happy to see that so many of you are here today. We see it as a sign of great interest in A.P. Møller - Mærsk A/S and our transformation.

Nevertheless, I stand here as Chairman with mixed emotions about the results I'm going to present to you today for 2018. Financially, 2018 was not a satisfactory year. A downgrade of our expectations for the year and a profit before tax of $238 million out of our $39 billion revenue are simply not satisfactory. But 2018 was also a year of sound progress in delivering on our long-term strategy and transformation. It was necessary and expected but also essential if we are to achieve the desired financial results in the future.

Before I move on to the review of 2018, I'd like to start with a brief look back at the journey we've been on since 2016 when we fundamentally changed our strategy. Why did we change our strategy in 2016? Our new strategy

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