DOCSLIB.ORG

A.P. Møller - Mærsk A/S Annual Report 2012 Forward-Looking Statements Governing Text

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
A.P. Møller - Mærsk A/S Annual Report 2012 Forward-Looking Statements Governing Text A.P. Møller - Mærsk A/S Annual Report 2012 Forward-looking statements Governing text The annual report contains forward-looking statements. Such The annual report has been translated from Danish. The Danish text statements are subject to risks and uncertainties as various factors, shall govern for all purposes and prevail in case of any discrepancy many of which are beyond A.P. Møller - Mærsk A/S’ control, may with the English version. cause actual development and results to differ materially from expec- tations contained in the annual report. Annual Report 2012 Contents Page Mærsk Mc-Kinney Møller (1913-2012) 4 It all began in 1904… 6 Continuity and Growth 8 DIRECTORsʼ REPORT Highlights for the Group 10 Outlook for 2013 13 Financial highlights 14 Message from the Group CEO 17 Maersk Line: The worldʼs largest liner company, Company profile 20 with a global network. Building on the strength of the Group 22 Business units The Groupʼs business units 32 Segment overview 34 Maersk Line 36 Maersk Oil 40 APM Terminals 44 Maersk Drilling 48 Maersk Supply Service 52 Maersk Tankers 53 Damco 54 SVITZER 55 Maersk Oil: Using innovation to unlock poten- Strategic and other reportable segments 56 tial, turning discoveries into production. Unallocated activities 60 Financial report 61 Shareholders 64 Risk management 67 Corporate governance 71 CONSOLIdaTED FINANCIAL STATEMENTS 2012 Consolidated income statement 74 Consolidated statement of comprehensive income 75 Consolidated balance sheet at 31 December 76 Consolidated cash flow statement 78 Consolidated statement of changes in equity 79 APM Terminals: Running efficient ports, build- ing tomorrowʼs port infrastructure today. Notes to the consolidated financial statements 82 Statement of the Board of Directors and Management 140 Independent auditorsʼ report 141 Management duties 142 Company overview 146 Definitions 149 Company announcements 150 A.P. MØLLER - MÆRSK A/S Financial statements 2012 151 Financial highlights 153 Income statement 154 Maersk Drilling: Breaking ground offshore, Comprehensive income 155 working safely in ultra-harsh environments. Balance sheet at 31 December 156 Cash flow statement 158 Statement of changes in equity 159 Notes to the financial statements 162 Mærsk Mc-Kinney Møller 1913 – 2012 In memoriam A.P. Møller - Mærsk A/S – Annual Report 2012 5 Mærsk Mc-Kinney Møller In memoriam (1913–2012) Mærsk Mc-Kinney Møller left an indelible mark on the Mr. Møller understood the big picture as well as the A.P. Moller - Maersk Group, Denmark and the interna- numerous small details that make up the whole. He also tional business community. understood the need to keep focussing on new areas. He was able to look at an issue from all angles and to chal- Mærsk Mc-Kinney Møller dedicated his life to the busi- lenge experts before making the final decision. The deci- nesses that his father had founded and which they de- sion would then be carried out during busy hours every- veloped together until A.P. Møllerʼs death in 1965. where in offices, on ships, platforms, rigs, at shipyards, terminals and in aircrafts by teams of talented and Even as a boy, the young Mærsk was involved in the office, inspired individuals, followed by an attentive Mr. Møller. at the shipyard and on the vessels. He was therefore no stranger to the business when he first joined the Com- The strength that comes from stable ownership was very pany. important to Mr. Møller. The Foundations created by his father form a guarantee for long-term stability of Group He began his apprenticeship in 1930, and the experience operations and this weighed heavily on Mr. Møllerʼs mind. he gained from shipping and banking companies in Den- As chairman of the Foundations, Mærsk Mc-Kinney mark, Germany, the United Kingdom and France was Møller was responsible for the inward consolidation of significant in shaping the unique part that Mærsk Mc- values, as well as the many public donations, both large Kinney Møller was to play in international business. and small, that have benefited society at large. Mr. Møller – as he was called, just like his father – joined Mr. Møller followed the business to the very end of his the Company in 1938 and became a partner in the Firm life. He attended the Annual General Meeting and dinner A.P. Moller in 1940. He managed the Companyʼs interests just four days before his death on 16 April 2012. in the USA from 1940 to 1947. Mr. Møllerʼs parting words to the Groupʼs Board of Di- Mærsk Mc-Kinney Møller took over the helm in 1965, pay- rectors and management team after the dinner were ing profound respect to his fatherʼs work and the values “Good Night and Goodbye – and Thank You”. that he had created and instilled. However, his attention was also directed towards new opportunities of an in- creasingly globalised world. Mr. Møllerʼs approach to the business was focussed, show- ing constant care and a great sense of responsibility to- Ane Mærsk Mc-Kinney Uggla wards the Company. His rare energy and unlimited com- mitment, combined with the support of his staff, helped expand the Company into all parts of the world. 6 A.P. Møller - Mærsk A/S – Annual Report 2012 1904–1965 It all began in 1904… Todayʼs A.P. Moller - Maersk Group builds on more staff. That was the foundation for todayʼs Governance than 100 years of experience in global trade. Commitments. Mr. A.P. Møller (1876–1965) initiated and developed A.P. Møller led the activities within shipping, energy the original shipping company into a diverse group of and industries to establish the Group as a leading businesses. company not only in Denmark, but also on the inter- national business scene. A.P. Møller was born into a shipping family and his father Peter Mærsk Møller strongly supported the To secure the future of his lifetimeʼs work, A.P. Møller start up of the company. Through his daily work, A.P. established Foundations to own and manage the Møller expressed the family principles and values in Group. management and eventually imbued them on his Before returning to Denmark in 1912 1904, A.P. Møller was employed To facilitate expansion, in trading houses and shipping A.P. Møller founded the Steamship companies in England, Germany Company of 1912 and established and Russia. his own business. Upon his return, A.P. Møller took up a position with a leading ship owner in Copenhagen, but with the provision that he could invest 1913 1921 1930 in his own ships. The Maersk fleet consisted of The motor ship LEISE MÆRSK Mærsk Mc-Kinney Møllerʼs nine ships. entered the Maersk Fleet; inci- career began in Denmark. Later, dentally LEISE MÆRSK became Mr. Møller worked in shipping, the first ship on a Maersk Lineʼs brokerage and banking in Ger- first voyage in 1928. many, England and France until 1938, where he returned to Co- penhagen to work in his fatherʼs company. 1928 That year turned out to be a pivotal year for Maersk. Global consumption of petroleum products increased and in 1928 A.P. Møller seized the opportunity to add five crude oil tankers to the fleet – the beginning of Maersk 1904 1918 Tankers. Agents were contracted to han- The Steamship Company A.P. Møller was able to realise dle Maersk Lineʼs business in Svendborg was founded by the ambition to combine shipping Maersk Lineʼs first voyage took Shanghai, Hong Kong and Tokyo, A.P. Møller, supported by his with shipbuilding. Odense Steel place in 1928, inaugurating the supported by the offices in New father Peter Mærsk Møller and Shipyard was founded and ships Panama Line between the USA York and Copenhagen. leading citizens of Svendborg. would be built at this yard until and the Far East. 1966. In the period from its inaugura- The steam ship SVENDBORG New markets were explored as tion in 1918 to 1939, Odense Steel was acquired in October 1904. Maersk ships called ports in Maersk ships traded in Asia and Shipyard delivered 79 ships; of Europe, Africa and the Americas. Australia for the first time. these 29 entered the Maersk Fleet. 1900 1910 1920 1930 1904–1965 A.P. Møller - Mærsk A/S – Annual Report 2012 7 1940 The Foundations Mærsk Mc-Kinney Møller A.P. Møllerʼs concern that his became a partner in his fatherʼs life’s work would be taken over firm and travelled to New York by investors who had a different to manage the fleet during the view on running a business was German occupation of Denmark. resolved by the establishment of three foundations; The Fam- ily Foundation, The A.P. Moller and Chastine Mc-Kinney Moller Maersk Line expanded its 1962 Foundation and The Relief Foun- network, initially in the Far East The A.P. Moller Group was dation. and later to the Arabian Gulf and awarded the concession for the Africa. exploration and extraction of hy- Albeit the purposes were differ- drocarbons in Denmark. ent, the common goal was to en- sure that the Groupʼs businesses would be managed according to A.P. Møllerʼs principles and values. 1964 A.P. Møllerʼs last major initiative before his death in 1965 was to support the expansion plans of the Danish merchant Herman Salling. The result was Dansk Supermarked Group, the retail arm of Maersk. 1940-1945 1955 150 sailors and 25 of the Maersk In response to the growing energy Quietly, privately and later through Fleetʼs 46 ships were lost to war demand in the world market, the Foundations, A.P. Møller causes. Maersk Tankers acquired larger donated funds to support a range and larger ships. One of those was of causes, mainly of national im- Towards the end of the period, REGINA MÆRSK, the first ship to portance.
Load more

Recommended publications
  • Conte Annual Report 2000 / 2001
    Coloplast’s Mission Contents Throughout the world we wish to be perceived as depend- Coloplast in brief 2 able providers of consumable products and services. 5 years’ key figures and ratios 3 Our customers are health care professionals and users. Our primary concern is to improve the quality of life of Board and Group Management 4 individuals suffering from a disabling condition. Management report 5 We respond quickly to market needs to ensure the highest level of customer satisfaction. We strive to offer Financial review 11 preferred product ranges based on innovation, advanced technology and cost-effectiveness. Risk factors 15 Accounting policies 17 All employees must be recognised for their empathy with user needs and dependability in business relations. Profit and loss account 19 It is our ambition to attract and retain the best human Balance sheet 20 resources. Consolidated cash flow statement 22 As individuals and as an organisation we will act respon- Auditors’ report and approvals 23 sibly and be socially and environmentally conscious. Notes 24 We strive to be the best within our businesses, thereby achieving growth and value for the company, the em ploy- ees and shareholders. Stakeholder reporting Annual Report 2000 / 2001 – value creation and knowledge management 32 Customers 33 Employees 38 Society 41 Shareholders 43 Indicators for value drivers and value propositions 48 Artist of the year 50 Group addresses Executives Coloplast Mission Coloplast A/S Coloplast, Conveen, Comfeel, Holtedam 1 Amoena, Sween, Compeed, DK-3050 Humlebæk Assura, Easiflex, EasiCath, Coloplast’s Annual Report for 2000/01 has its own Tel. + 45 49 11 11 11 SpeediCath, Biatain, Contreet, microsite on our corporate website at the address: Fax + 45 49 11 15 55 and Prema are registered trade- E-mail: [email protected] marks of the Coloplast Group.
    [Show full text]
  • Ports Rail 3
    68693 Public Disclosure Authorized Caucasus Transport Corridor for Oil and Oil Products Public Disclosure Authorized Public Disclosure Authorized Prepared by: ECSSD The World Bank Public Disclosure Authorized December 2008 Abbreviations and Acronyms ACG Azeri, Chirag and deepwater Gunashli (oil fields) ADDY Azerbaijan Railway AIOC Azerbaijan International Oil Consortium bpd Barrels per day BTC Baku-Tbilisi-Ceyhan (pipeline) CA or CAR Central Asian Region Caspar Azerbaijan State Caspian Shipping Company CIS Commonwealth of Independent States CNPC China National Petroleum Corporation CPC Caspian Pipeline Consortium (pipeline) dwt Deadweight ton FOB Free on board FSU Former Soviet Union GDP Gross Domestic Product GR Georgian Railway km Kilometer KCTS Kazakhstan Caspian Transport System KMG KazMunaiGaz KMTP Kazmortransflot kV Kilovolt MEP Middle East Petroleum MOU Memorandum of Understanding OECD Organization for Economic Co-operation and Development RTC Rail tank-car RZD Russian Railway SOCAR State Oil Company of Azerbaijan tpa Tons per annum (per year), metric TRACECA Transport Corridor Europe-Caucasus-Asia Vice President, Europe and Central Asia: Shigeo Katsu, ECAVP Country Director: Donna Dowsett-Coirolo, ECCU3 Sector Director: Peter D. Thomson, ECSSD Sector Manager, Transport: Motoo Konishi, ECSSD Task Team Leader: Martha Lawrence, ECSSD I II Table of Contents EXECUTIVE SUMMARY 1. CASPIAN OIL TRANSPORT MARKET DYNAMICS Outlook for Caspian Oil Production Transport Options for Caspian Oil 2. CAUCASUS RAIL CORRIDOR—PHYSICAL CONSTRAINTS Ports
    [Show full text]
  • Company Overview 2013 Company Overview 2013 2 /12
    A.P. Møller - Mærsk A/S Company overview 2013 Company overview 2013 2 /12 Associated companies Company Country of Owned Company Country of Owned incorporation share incorporation share Abidjan Terminal SA Ivory Coast 40% Meridian Port Holdings Ltd. Great Britain 50% Brigantine International Holdings Ltd. Hong Kong 30% Meridian Port Services Ltd. Ghana 35% Brigantine Services (Shanghai) Co. Ltd. China 30% Neuss Trimodal GmbH Germany 25% Brigantine Services (Shenzhen) Co. Ltd. China 30% New Asia Capital Resources Ltd. Hong Kong 33% Brigantine Services Ltd. Hong Kong 30% Pacoci SA Ivory Coast 50% Cape Fruit Coolers Pty. Ltd. South Africa 20% Port Services Containers Company Ltd. Saudi Arabia 48% Channel Energy (Poti) Limited Georgia LLC Georgia 25% Portmade Customs NV Belgium 49% Commonwealth Steamship Insurance Portmade NV Belgium 49% Company Pty. Ltd. Australia 7% PT Bonapelangi Devindo Indonesia 19% Congo Terminal Holding SAS France 30% Qingdao Qianwan United Container Congo Terminal S.A. DR Congo 23% Terminal Co. Ltd. China 8% Cosco Ports (Nansha) Ltd. British Virgin Salalah Port Services Company SAOG Oman 30% Islands 34% Shanghai Brigantine De Well Container Dalian Jilong Brigantine Container Services Co. Ltd. China 15% Services Co. Ltd. China 15% Shenzhen Yantian Tugboat Company Ltd. China 10% Danske Bank A/S Denmark 20% Shipet Maritime Sdn. Bhd. Malaysia 44% Desmi Ocean Guard A/S Denmark 40% Smart Brigantine Container Services Co. Ltd. China 40% Guangzhou South China Oceangate Societe De Participations Portuaires SAS France 40% Container Terminal Co. Ltd. China 20% South Asia Gateway Pvt. Ltd. Sri Lanka 33% Guayanilla Towage Group Inc. Puerto Rico 25% Thetis BV The Netherlands 10% Gujarat Pipavav Port Ltd.
    [Show full text]
  • Novo Nordisk Annual Report 2012
    novo nordisk annual report 2012 Diabetes – an emergency in slow motion Strategy Sustainable growth is all about – can it be done? choice Insulin in Novo Nordisk’s performance in 2012 is a result of important decisions made in recent years a tablet – but there is more to the story – why is it so difficult? Contents Accomplishments and results 2012 1 Letter from the Chairman 2 Letter from the CEO 4 Performance highlights 6 2012 performance and 2013 outlook Our business 15 Strategy is all about choice 20 Diabetes – an emergency Diabetes – an emergency in slow motion 20 in slow motion 22 The protein powerhouse 24 Insulin treatment is a balancing act 26 Insulin in a tablet – why is it so difficult? 28 Simple injections 29 Prevent bleedings 30 Pipeline overview 32 Many markets – one model 38 Sustainable growth – can it be done? 41 With every big opportunity comes a risk Governance, leadership and shares 44 Shares and capital structure The protein 46 Corporate governance 22 powerhouse 49 Remuneration 52 Board of Directors 54 Executive Management Financial, social and environmental statements 55 Consolidated financial, social and environmental statements 104 Financial statements of the parent company 109 Management’s statement and Auditor’s reports Additional information 112 More information Simple 28 injections 113 Product overview The Management review, as defined by the Danish Financial Statements Act (FSA), is found on pp 1–54 and 94. This Annual Report is published in both a Danish and an English language version. In the event of any discrepancies, the Danish version shall prevail. 1 Chairman of the Board of Directors Sten Scheibye at the Annual General Meeting in March 2012.
    [Show full text]
  • Maersk Line and the Future of Container Shipping
    9-712-449 REV: JUNE 1, 2012 FOREST L. REINHARDT RAMON CASADESUS - MASANELL FREDERIK NELLEMANN Maersk Line and the Future of Container Shipping There is a difference between just moving a container and moving it in the most sustainable, easy, and reliable way. And that difference is worth something to our customers. — Morten Engelstoft, Chief Operating Officer, Maersk Line, 2012 It was a cold February afternoon in 2012 as Søren Skou looked out the window of his office across the Copenhagen waterfront. Skou had just recently been promoted to become CEO of Maersk Line, the world’s largest container shipping company, and the flagship company of the Danish conglomerate A.P. Moller-Maersk Group. He was taking the reins at a difficult time: the sluggish global economy had severely depressed container rates, while fuel prices were still at record levels. On some trade routes, the company—like its competitors—wasn’t even meeting the costs of deploying its large and expensive container ships. Skou was confident that the company would pull through. After all, it had recently completed a successful turnaround following the Maersk Line’s first ever annual loss in 2009 and the Group benefited from a diverse holding of activities, which included an oil and gas business. However, Skou needed to assess whether Maersk Line was headed in the right direction, both to be able to compete in this slower market but also once the economy, and global trade, picked up. In 2010 the company had decided to focus on three differentiators to help it maintain its position as the global leader: reliability, ease-of-doing business, and environmental performance.
    [Show full text]
  • Black Sea Container Market and Georgia's Positioning
    European Scientific Journal November 2018 edition Vol.14, No.31 ISSN: 1857 – 7881 (Print) e - ISSN 1857- 7431 Black Sea Container Market and Georgia’s Positioning Irakli Danelia, (PhD student) Tbilisi State University, Georgia Doi:10.19044/esj.2018.v14n31p100 URL:http://dx.doi.org/10.19044/esj.2018.v14n31p100 Abstract Due to the strategically important geographical location, Black Sea region has a key transit function throughout between Europe and Asia. Georgia, which is a part of Black sea area, has a vital transit function for Caucasus Region, as well as for whole New Silk Road area. Nevertheless, still there is no evidence what kind of role and place Georgia has in The Black Sea container market. As the country has ambition to be transit hub for containerizes cargo flows between west and east and is actively involved in the process of formation “One Belt One Road” project, it is very important to identify Country’s current circumstances, capacities and future potential. Because of this, the purpose of the study is to investigate cargo flows and opportunities of the Black Sea container market, level of competitiveness in the area and define Georgia’s positioning in the regional Container market. Keywords: Geostrategic Location, New Silk Road, Transit Corridor, Cargo flow, Container market, Georgia, Black Sea Methodology Based on practical and theoretical significance of the research the following paper provides systemic, historical and logical generalization methods of research in the performance of the work, scientific abstraction, analysis and synthesis methods are also used. Introduction Since the end of the Cold War, the Black Sea region has no longer been a static border between the West and the East.
    [Show full text]
  • Environmental Assessment Report: Georgia, Port of Poti
    Environmental Assessment Report Environmental Audit Report September 2009 Prepared by Scientific Research Firm Gamma for Poti Sea Port Corporation This report has been submitted to ADB by Poti Sea Port Corporation and is made publicly available in accordance with ADB’s public communications policy (2005). It does not necessarily reflect the views of ADB. Poti Sea Port Corporation Environmental Audit Report for Current Operations of Poti Sea Port Executed by: Scientific Research Firm Gamma President Vakhtang Gvakharia Tbilisi-Poti 2009 9 M. Alexidze st, 0193, Tbilisi, Georgia tel: +(995 32) 330 274, 330 374 tel/fax +(995 32) 333 268 e-mail: [email protected] SCIENTIFIC RESEARCH FIRM GAMMA Environmental Audit, Poti Sea Port Corp. Page 2 of 38 Content 1 INTRODUCTION.............................................................................................................................................3 2 BRIEF DESCRIPTION OF POTI SEA PORT OPERATIONS ........................................................................4 2.1 ABOUT POTI SEA PORT .............................................................................................................................4 2.2 PORT’S EXTENSIVE DEVELOPMENT............................................................................................................7 3 DESCRIPTION OF PORT’S TECHNOLOGICAL PROCESSES .....................................................................7 3.1 TECHNOLOGICAL SCHEME AND CAPACITY OF OIL PRODUCT HANDLING ..................................................7
    [Show full text]
  • PP Hemmingsen
    Lundbeck Foundation EU conference: Giving more to research in Europe Presentation by Steen Hemmingsen, Managing Director, The Lundbeck Foundation - The Danish research funding system - The Danish foundation sector a. Charitable b. Industrial c. Dual purpose (Commercial Foundation Act) - The Lundbeck Foundation - Trust Deed and Governance - Grant policies - Centres of Excellence - Interaction between Foundation controlled pharma industry, university research and biotech cluster March 2006 Lundbeck Foundation TheThe DanishDanish ResearchResearch FundingFunding System*System* Private sector Euro 3,44 bn. 70% 1,78% of GNP Public sector Euro 1,49 bn. 30% 0,79% - - • Council for independent research Euro 124 m. • Council for strategic research Euro 47 m. • National research foundation Euro 27 m. • Technology foundation Euro 26 m. Private foundations**) Euro 134 m. (The Lundbeck Foundation contributes Euro 30 m.) *) Source: The Danish Centre for Studies in Research and Research Policy, some figures relate to 2003. **) Estimate 2005, included in public sector statistics. Lundbeck Foundation THETHE LUNDBECKLUNDBECK FOUNDATIONFOUNDATION • Established in 1954 by Mrs. Grete Lundbeck (no descendants) • Owns 70% of the listed pharmaceutical company H. Lundbeck A/S • An industrial foundation regulated under The Commercial Foundations Act. • Several large Danish companies are controlled by industrial foundations • The Lundbeck Foundation operates independently of its industrial subsidiary/founder family - no company executives on the Board/management - no grants given to company • The Lundbeck Foundation provides grants to research of Euro 30 m. H. Lundbeck A/S has a R&D budget of Euro 250 m. • The Lundbeck Foundation’s asset base is Euro 4 bn. – 65% hereof in donor stock Lundbeck Foundation SeveralSeveral foundationfoundation--ownedowned companiescompanies amongamong thethe largestlargest DanishDanish firmsfirms • A.
    [Show full text]
  • 1995-October-Maersk-Post-Full-Issue
    Cover: Our efforts to improve earnings and reduce costs are beginning to give the TROLL GBS of 1,030,000 tons being desired results. This is gratifying and I should like to congratulate everyone on towed to its future position in the the progress achieved so far. Troll Field off Bergen, Norway. In general, the first half of 1995 indicated a positive development, calculated in US dollar, in Shipping Activities. Unfortunately, however, the value of the dollar was approximately 15% less than during the corresponding period last year, and Published by A.P. Møller, this means that the operational improvements in our companies for the half- Copenhagen year, calculated in Danish kroner, are no more than modest. For the year as a Editor: Hanne H. Clausen whole, after gains on disposals and other special items, a net profit amounting Printers: Scanprint a-s to approximately the same as in 1994 is expected. Layout: Jakob Kühnel, MDD Copies: The Oil and Gas Activity in the North Sea also showed a slight operational 13,600 Danish improvement during the first half-year and, for the year as a whole, a similar 13,200 English profit level to that of last year is anticipated. Local correspondents: The full year result will continue to be influenced by the development in freight rates, the US dollar rate of exchange and listed prices on securities and, for the AUSTRALIA: Peter Floratos oil and gas activity, by the development of oil and gas prices. BANGLADESH: M. Shamimul Huq FRANCE: Laurence Chollet Consequently we must continue our efforts, find new ways of tackling the GERMANY: Susanne Heinken challenges and demonstrate an even greater degree of ingenuity, if the positive HONG KONG: Teresa Suen tendencies of the first half-year are to be intensified and the outlook for the year INDIA: Hoshang Vajifdar as a whole improved.
    [Show full text]
  • GEORGIA (Acting Through the Ministry of Finance of Georgia) U.S.$500,000,000 2.750% Notes Due 2026 ISSUE PRICE: 99.422%
    GEORGIA (acting through the Ministry of Finance of Georgia) U.S.$500,000,000 2.750% Notes due 2026 ISSUE PRICE: 99.422% The U.S.$500,000,000 2.750% Notes due 2026 (the "Notes") to be issued by Georgia, acting through the Ministry of Finance of Georgia (the "Issuer" or "Georgia"), will mature on 22 April 2026 (the "Maturity Date") and, unless previously purchased and cancelled, will be redeemed at their principal amount on that date. The Notes will bear interest from, and including, 22 April 2021 at the rate of 2.750% per annum payable semi-annually in arear on 22 April and 22 October in each year, commencing on 22 October 2021. This Offering Circular comprises neither a prospectus for the purposes of Part VI of the Financial Services and Markets Act 2000 (as amended) (the "FSMA"), a prospectus for the purposes of Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (the "UK Prospectus Regulation"), nor listing particulars given in compliance with the listing rules made under Part VI of the FSMA by the UK Financial Conduct Authority (the "FCA") pursuant to the FSMA. Application has been made for the Notes to be admitted to the official list of the FCA (the "Official List") and to trading on the main market (the "Market") of the London Stock Exchange plc (the "London Stock Exchange"). The Notes are being offered (i) in offshore transactions in reliance on, and as defined in, Regulation S (the "Regulation S Notes") under the U.S.
    [Show full text]
  • Factsheet | 27 September, 2021 LU0012195615 Marketing Material
    Danske Invest SICAV Denmark Focus Class A Factsheet | 27 September, 2021 LU0012195615 Marketing material Objectives and investment policy Manager Objectives Name: The objective of this fund is to achieve above-market performance. The share Jesper Neergaard Poll class is accumulating. Danske Bank Asset Management Title: Investment policy Chief Portfolio Manager The fund invests mainly in a narrow and focused selection of Danish equities. Background: The fund promotes various environmental and social characteristics and good M.Sc. governance practices through a commitment to systematically identify and Years of experience: address sustainability factors throughout the investment management processes 28 and through active ownership. In actively managing the fund’s portfolio, the management team selects securities that appear to offer superior investment characteristics. 10 largest holdings as of 30.07.2021 *) The fund generally expects that its holdings, and therefore its performance, may not differ significantly from those of the benchmark. Name of investment/security Weight The fund may use derivatives for hedging and efficient portfolio management. Novo Nordisk B 9.9% Recommendation: This fund may not be appropriate for investors who plan to Dsv 8.1% withdraw their money within 5 years. Carlsberg B 6.8% A.P. Møller - Mærsk B 6.8% Ørsted A/S 6.4% Return in the period: 31.08.2016 - 31.08.2021 William Demant Holding A/S 5.1% Coloplast B 5.0% Tryg A/S 4.8% Gn Store Nord 4.5% Pandora 4.1% *) Please note that all holdings are delayed with 1 month. Asset allocation: Sectors as of 30.07.2021, % The default for the chart is the return for the past 5 years as of end of month or, if the fund is less than 5 years old, since launch.
    [Show full text]
  • Georgia Finland
    SWEDEN GEORGIA FINLAND NORWAY ST PETERSBURG YEKATERINBURG KRASNOYARSK ESTONIA CHELYABINSK GATEWAY TO THE CAUCASUS AND CENTRAL ASIANOVOSIBIRKSK RIGA LATVIA MOSKOW DENMARK KLAIPEDA LITHUANIA RUSSIA SAMARA BELARUS KOSTANAY ASTANA IRELAND HAMBURG UNITED AMSTERDAM KINGDOM NETHERLAND POLAND ROTHERDAM KARAGANDY GERMANY AKTOBE ANTWERP BELGIUM UKRAINE LUXEMBOURG LE HAVRE CZECH REPUBLIC SLOVAKIA ATYRAU KAZAKHSTAN NANTES MOLDOVA AUSTRIA ODESSA AZOV HUNGARY KYZYLORDA DOSTYK FRANCE SWITZERLAND ROMANIA AZOV SEA DRUZHBA SLOVENIA ILLICHIVS'K RIJEKA CROATIA RAVENNA BUCURESTI GENOA ALMATY BOSNIA URUMGI AND MARSEILLE HERZEGOVINA SERBIA CONSTANTA AKTAU UZBEKISTAN LA SPEZIA SHYMKENT BISHKEK BLACK SEA ADRIATIC BULGARIA POTI CASPIAN KYRGYZSTAN ITALY MONTENEGRO VARNA GEORGIA DASOGUZ TOULON SEA SEA BAR BARCELONA LIVORNO ISTANBUL TBILISI TASHKENT MACEDONIA BATUMI LEIXOES SPAIN BAKU DURRES SAMSUN ARMENIA AZERBAIJAN NAPOLI ALBANIA THESSALONIKI GEMLIK PORTUGAL TURKEY TURKMENISTAN TURKMENABAT TAJIKISTAN TYRRHENIAN SEA SALERNO CHINA VALENCIA GREECE TURKMENBASHI DUSHANBE SETUBAL IZMIR PIRAEUS ASHGABAT MARY SINES RADES ANTALYA ALGIERS MERSIN BEJAIA ISKENDERUN TUNISIA MALTA ERBIL SYRIA SFAX CYPRUS CASABLANCA AFGHANISTAN LEBANON IRAN MEDITERRANEAN SEA BEIRUT ALGERIA IRAQ HAIFA PAKISTAN MOROCCO TRIPOLI DAMIETTA ISRAEL ALEXANDRIA ASHDOD SAUDI ARABIA LIBYA JORDAN EGYPT KUWAIT NEPAL QATAR WESTERN SHARAH UNITED ARAB EMIRATES INDIA OMAN PUNE MAURITANIA MALI NIGER CHAD ERITHEA SENEGAL SUDAN YEMEN BURKINA FASO DJIBOUTI GUINEA BENIN LogisticsTOGO ServicesNIGERIA Multimodal Services
    [Show full text]