Investor Presentaiton
46
A.P. Moller-Maersk Annual Report 2020
Directors' Report
Performance 2020
Terminals & Towage
=1
Decarbonising energy supply
Port terminals contribute
to decarbonisation
APM Terminals consumes
73% of the electricity used by
A.P. Moller - Maersk. To sustain
leadership on decarbonisation and
to match customer needs and stake-
holder demands, A.P. Moller - Maersk
is working to identify ways in which
emissions across all scopes - directly
from operations, emissions related to
the purchase of energy, and emissions
in the value chain - can be tackled as
part of the company's decarbonisa-
tion efforts. Decarbonisation of port
terminals will be one of the elements
contributing to achieve this goal.
In January 2020, the Green Gate-
way Gothenburg was launched as
a showcase for decarbonisation
of existing terminals. Switching to
renewable electricity to power the
cranes and offices, biogas for heating,
and using biodiesel made from recy-
cled waste vegetable oils in mobile
equipment, the Gothenburg terminal
reduced its CO₂ emissions by 88%.
Ways to eliminate the last 12% of
emissions are being pursued with ter-
minal customers to provide a fully CO₂
neutral container handling service.
Other paths to decarbonisation of
the energy supply for ports are being
tested as well, with solar projects in
Pipavav, India, and Aqaba, Jordan, grid
optimisation trial projects in two fur-
ther sites, and further switches to
renewable electricity in the European
and US terminals in 2021.
Regional EBITDA margin, Terminals'
Percentage
2020
2019
North America
24
Latin America
42
20
34
Europe, Russia and the Baltics
28
28
Asia
31
19
Africa and Middle East
Total
33
45
31
28
1 Financially consolidated.
more than compensated for the lower utilisa-
tion. In Asia, the EBITDA margin increased by 11
percentage points mainly due to Pipavav con-
solidation. In Latin America, the EBITDA margin
increased by 8.6 percentage points, due to risks
not materialising, and ramp-up in Moin, Costa
Rica, followed by North America, where the
EBITDA margin increased by 3.6 percentage points.
In Europe, the EBITDA margin increased by 0.6 per-
centage points, mainly due to ramp-up of Vado.
The EBITDA margin decreased in Africa and Middle
East by 12 percentage points partly due to opera-
tional challenges in Apapa.
Results from joint ventures and
associated companies
The equity-weighted EBITDA increased to USD
1.4bn (USD 1.3bn), mainly driven by ramp-up of
Tema, Ghana, and increased EBITDA from consoli-
dated terminals, offset by exit from Douala.
The share of profit in joint ventures and associ-
ated companies of USD 216m (USD 185m) was pos-
itively impacted by ramp-up of Tema and foreign
exchange rate gain. Cash contribution from joint
ventures and associated companies through divi-
dends was USD 120m (USD 188m).
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MAERSK LINE
ИМЕНОК ПИЕ
APM Terminals
Gothenburg
switched to
renewable
energy in 2020.
Terminals
Number of terminals
2020
2019
One terminal under
implementation in
North America
5
5
Abidjan, Ivory Coast,
Latin America
11
11
opening in 2022.
Europe, Russia and the Baltics
18
18
Asia
17
17
Africa and Middle East
15
16
Total
66
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