Investor Presentaiton
60
A.P. Moller-Maersk Annual Report 2020
Directors' Report
Governance
Shareholder information
Shareholder information
After an extraordinary year with great volatility in the share price,
the share price ended the year 41% higher than last year, implying
a total shareholder return of 45% for 2020. The Board of Directors
in A.P. Møller-Mærsk A/S proposes an ordinary dividend of DKK
330 per share corresponding to a dividend payout of 35%.
Share capital
A.P. Moller-Maersk shares are listed on Nasdaq
Copenhagen and are divided into two classes:
A shares with voting rights and B shares without
voting rights. Each DKK 1,000 A share entitles the
holder to two votes.
The A.P. Møller-Mærsk A/S share capital amounts
to nominally DKK 20,031,947,000, divided between
10,599,401 A shares of nominally DKK 1,000 and
9,432,546 B shares of nominally DKK 1,000.
Ownership
The total number of registered shareholders
increased by 3,000 to around 76,000 during 2020.
Shareholders with more than 5% of share capital
or votes held 53% of the share capital, while the 20
largest institutional shareholders together owned
around 16% of the total share capital and 37%
adjusted for the free-float. Danish retail investors
decreased their ownership slightly from 11% to 10%
of the total share capital since the end of 2019.
Own shares
A.P. Moller-Maersk holding of own shares com-
prised 3.12% of the share capital at the end of
2020, cf. note 11 in the consolidated financial
statements.
Dividend
The dividend policy is an annual pay-out ratio
of 30-50% of underlying net result, adjusted
for gains, impairments and restructurings, to be
implemented from the financial year 2020.
In the medium-term and during the strategic
phase of transforming the company to become
a global integrator of container logistics, the
annual pay-out ratio should be expected at the
low to midpoint of the range.
Distribution to shareholders will take place
through dividends potentially combined with
share buy-backs, and the annual pay-out ratio and
distribution will be decided from an evaluation
Share price development
The Maersk B share price increased by 41% to DKK
13,595 from its closing price at the end of 2019 of
DKK 9,608. By comparison, the benchmark indices
MSCI World Transportation and OMXC25 increased
by 5% and 34%, respectively. The Maersk B share
price reached its highest price of DKK 14,115 on
18 December 2020, and its lowest price of DKK
5,034 on 19 March 2020. The total market value of
A.P. Møller-Mærsk A/S was USD 43bn at the end
of 2020. The positive development of the share
price was driven by a very strong financial perfor-
mance in the second half of the year, as demand
picked up faster than anticipated after the first
lockdown related to the pandemic outbreak in the
early days of 2020. The sudden uptick in demand
led to a significant increase in freight rates during
the third quarter. The continued focus on the cost
base and agile capacity deployment, coupled with
the higher freight rates lead to improved finan-
cial performance and a total of three earnings
upgrades after having suspended the guidance
in March 2020.
Share price development
=1
DKK
16,000
OMXC25
Maersk B
14,000
12,000
MSCI World
Transportation
Source: Bloomberg;
data rebased from
10,000
the Maersk B share
price at the end of
8,000
December 2019.
6,000
4,000
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