MAERSK B A.P. Moller - Maersk A/S Class B

Joint Usage Agreement with related parties

Joint Usage Agreement with related parties

ANNOUNCEMENT



A.P. Møller - Mærsk A/S – Joint Usage Agreement with related parties

With the objective to further strengthen the value of the brands A.P. Møller – Mærsk A/S (APMM) has today entered into a joint usage agreement (JUA) with A.P. Møller Holding A/S (APMH) regarding the use of commonly used trademarks (Trademarks) which historically have benefitted both APMM and APMH. 

A.P. Møller Holding A/S is the controlling shareholder of APMM and is 100% owned by A.P. Møller og Hustru Chastine Mc-Kinney Møllers Fond til almene Formaal.

The JUA establishes a framework and a branding strategy for the Trademarks and a joint brand board where the parties can cooperate with respect to use of the Trademarks.

Copenhagen, 17 August 2018

Contact persons:

Head of Investor Relations, Stig Frederiksen, tel.

Head of External Relations, Signe Wagner, tel.



Attachment

EN
17/08/2018

Underlying

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Reports on A.P. Moller - Maersk A/S Class B

ABGSC Shipping & Transport Research ... (+3)
  • ABGSC Shipping & Transport Research
  • Oliver Dunvold
  • Petter Haugen

Better guidance, but within expectations

Q1'24 EBITDA of USD 1,590m (ABGSCe at USD 1,941, cons. at USD 1,604m). Segments - miss for Ocean and Logistics & Services, beat in Terminals and Towage. Lower end of guidance lifted, share slightly up today.

ABGSC Shipping & Transport Research ... (+3)
  • ABGSC Shipping & Transport Research
  • Oliver Dunvold
  • Petter Haugen

Too cheap with near-term earnings upside

Underlying demand much better than expected. Guidance upgrade likely - ABGSCe '24 EBITDA +20% vs. cons.. TP of DKK 13,260 (10,700) – BUY (Hold).

Jørgen Lian
  • Jørgen Lian

A. P. Møller Mærsk (Sell, TP: DKK9600.00) - Loose ends into Q1 results

There is a substantial discrepancy between container liners’ reported and guided revenue for Q1, as the impacts of the Red Sea disruption and resurgent freight rates are revealed. Near-term consensus could be too low, but the 2025–2026 outlook is set to be much worse than the market believes. We reiterate our SELL, but have raised our target price to DKK9,600 (9,500).

Jørgen Lian
  • Jørgen Lian

A brewing challenge for the yards

Our 17th Annual Energy & Shipping Conference was well attended by investors and industry executives showcasing the still-growing interest for the sectors. Limited yard capacity is fuelling high newbuilding prices and raising freight rate expectations for the vast fleet renewal necessary in the coming decade. Long lead times underpin a bullish supply story for much of shipping in the coming years, albeit exposed to geopolitical risks affecting trade patterns. Our overall impression was general op...

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