Spreadsheet: 7f5707bd-4318-4f14-9b27-28017b548adc
Sheet: 2012 Q1

 | 2010 |  |  |  |  | 2011 |  |  |  |  | 2012
 | Q1 | Q2 | Q3 | Q4 |  | Q1 | Q2 | Q3 | Q4 |  | Q1
[NAME] | 5302 | 6095 | 6424 | 6202 |  | 5878 | 6276 | 6588 | 6365 |  | 6312
[NAME] | 2498 | 2538 | 2320 | 2894 |  | 3073 | 3510 | 3012 | 3021 |  | 2538
APM Terminals | 1060 | 1033 | 1049 | 1109 |  | 1061 | 1151 | 1205 | 1265 |  | 1205
[NAME] | 351 | 400 | 458 | 418 |  | 437 | 451 | 484 | 506 |  | 488
Maersk Supply Service¹ | 193 | 206 | 191 | 182 |  | 204 | 240.2260010987422 | 258.6808284601059 | 239.0931704411519 |  | 215
Maersk Tankers | 284 | 295 | 304 | 336 |  | 317 | 319 | 324 | 339 |  | 329
Damco | 650 | 767 | 620 | 654 |  | 685 | 687 | 783 | 597 |  | 738
[NAME] | 195 | 206 | 228 | 261 |  | 191 | 223.7739989012578 | 211.3191715398941 | 246.9068295588481 |  | 261
Maersk FPSO/Maersk LNG | 110 | 98 | 100 | 110 |  | 118 | 150 | 170 | 153 |  | 117
Dansk Supermarked Group | 2613 | 2465 | 2551 | 2908 |  | 2573 | 2622 | 2504 | 2615 |  | 2296
Other businesses | 629 | 559 | 504 | 516 |  | 443 | 569 | 531 | 619 |  | 511
Unallocated and eliminations etc. | -685 | -503 | -693 | -915 |  | -492 | -760 | -741 | -993 |  | -694
Revenue | 13200 | 14159 | 14056 | 14675 |  | 14488 | 15439 | 15330 | 14973 |  | 14316
[NAME] | 575 | 1502 | 1492 | 938 |  | 779 | 261 | 150 | -181 |  | -162
[NAME] | 2058 | 2163 | 1879 | 2168 |  | 2548 | 2886 | 2262 | 2319 |  | 1853
APM Terminals | 217 | 202 | 239 | 211 |  | 248 | 265 | 280 | 266 |  | 274
[NAME] | 159 | 173 | 217 | 199 |  | 206 | 183 | 239 | 234 |  | 221
Maersk Supply Service¹ | 105 | 102 | 89 | 88 |  | 89 | 101.0104234922577 | 119.9096134660652 | 106.0799630416771 |  | 86
Maersk Tankers | 52 | 39 | 45 | 17 |  | 45 | 28 | 20 | 15 |  | 38
Damco | 20 | 19 | 43 | 13 |  | 22 | 26 | 40 | 32 |  | 19
[NAME] | 50 | 56 | 64 | 65 |  | 49 | 57.9895765077423 | 61.0903865339348 | 68.9200369583229 |  | 65
Maersk FPSO/Maersk LNG | 36 | -18 | 30 | -6 |  | 50 | 73 | 88 | 32 |  | 56
Dansk Supermarked Group | 131 | 150 | 149 | 209 |  | 107 | 142 | 113 | 177 |  | 90
Other businesses | -35 | 51 | 25 | 10 |  | 33 | 43 | 53 | 87 |  | 62
Unallocated and eliminations etc. | -54 | 37 | -40 | -67 |  | -54 | 17 | -37 | -89 |  | -61
Profit before depreciation, amortisation and impairment losses, etc. (EBITDA) | 3314 | 4476 | 4232 | 3845 |  | 4122 | 4083 | 3389 | 3067 |  | 2541
[NAME] | 367 | 435 | 375 | 531 |  | 376 | 378 | 408 | 454 |  | 410
[NAME] | 552 | 630 | 593 | 643 |  | 516 | 544 | 543 | 568 |  | 495
APM Terminals | 102 | 147 | 94 | 98 |  | 87 | 95 | 93 | 93 |  | 90
[NAME] | 46 | 47 | 55 | 57 |  | 55 | 55 | 68 | 66 |  | 64
Maersk Supply Service¹ | 32 | 35 | 35 | 38 |  | 39 | 43.43482960379308 | 41.58936947497473 | 43.97580092123219 |  | 41
Maersk Tankers | 54 | 54 | 162 | 57 |  | 50 | 55 | 59 | 115 |  | 67
Damco | 5 | 6 | 4 | 6 |  | 6 | 6 | 6 | 5 |  | 6
[NAME] | 29 | 27 | 28 | 35 |  | 26 | 27.56517039620692 | 26.41063052502528 | 29.02419907876781 |  | 27
Maersk FPSO/Maersk LNG | 109 | 114 | 29 | 153 |  | 39 | 192 | 24 | 25 |  | 19
Dansk Supermarked Group | 44 | 36 | 39 | 28 |  | 20 | 23 | 22 | 41 |  | 29
Other businesses | 10 | 62 | 12 | 12 |  | 9 | 10 | 12 | 14 |  | 9
Unallocated and eliminations etc. | 4 | 2 | 3 | 9 |  | 3 | 10 | 1 | 5 |  | 2
Depreciation, amortisation and impairment losses | 1346 | 1591 | 1429 | 1649 |  | 1226 | 1419 | 1302 | 1449 |  | 1255
[NAME] | 11 | 10 | 3 | -1 |  | 50 | 68 | 3 | 7 |  | 1
[NAME] | 0 | 0 | 1 | 3 |  | 1 | -11 | -1 | 13 |  | 110
APM Terminals | 0 | 428 | 23 | 9 |  | 1 | 6 | 11 | 10 |  | 106
[NAME] | 0 | 0 | 0 | 0 |  | 0 | 0 | 0 | 0 |  | 0
Maersk Supply Service¹ | 0 | 0 | 0 | 0 |  | 0 | 0 | 3 | 0 |  | -1
Maersk Tankers | 28 | 0 | 0 | 20 |  | 6 | 0 | 0 | 0 |  | 0
Damco | 2 | -2 | 0 | 0 |  | 0 | 0 | 0 | 0 |  | 0
[NAME] | 1 | 18 | 2 | 3 |  | 2 | 0 | 1 | 1 |  | 3
Maersk FPSO/Maersk LNG | 0 | 0 | 67 | 0 |  | 0 | 0 | -1 | 9 |  | 73
Dansk Supermarked Group | 3 | 1 | -1 | 4 |  | -2 | 712 | -13 | -5 |  | 4
Other businesses | 45 | 11 | -35 | -14 |  | 2 | 5 | 0 | 8 |  | 0
Unallocated and eliminations etc. | 5 | -8 | 32 | 8 |  | 0 | 7 | 10 | -13 |  | 28
Gain on sale of non-current assets, etc., net | 95 | 458 | 92 | 32 |  | 60 | 787 | 13 | 30 |  | 324
[NAME] | 0 | -1 | 0 | -1 |  | -2 | 0 | 0 | 0 |  | 0
[NAME] | 0 | 0 | 0 | 0 |  | 0 | 0 | -1 | -3 |  | -5
APM Terminals | 10 | -1 | 9 | 6 |  | 6 | 15 | 16 | 13 |  | 14
[NAME] | 0 | 0 | 0 | 0 |  | 0 | 0 | 0 | 0 |  | 0
Maersk Supply Service¹ | 0 | 0 | 0 | 0 |  | 0 | 0 | 0 | 0 |  | 0
Maersk Tankers | 0 | 0 | 1 | 0 |  | 0 | 0 | 0 | 0 |  | 0
Damco | 0 | 0 | 0 | 0 |  | 0 | 0 | 0 | 0 |  | 0
[NAME] | 0 | 1 | 0 | 1 |  | 0 | 0 | 0 | 0 |  | 0
Maersk FPSO/Maersk LNG | 0 | 0 | -1 | 0 |  | 0 | 0 | 2 | 1 |  | 0
Dansk Supermarked Group | 0 | 0 | 0 | 0 |  | 0 | 0 | 0 | 0 |  | 0
Other businesses | 9 | 15 | 35 | 1 |  | 34 | 43 | -11 | 8 |  | 42
Unallocated and eliminations etc. | 0 | 1 | -1 | -2 |  | 1 | 0 | -2 | 2 |  | 0
Share of profit/loss in associated companies | 19 | 15 | 43 | 5 |  | 39 | 58 | 4 | 21 |  | 51
[NAME] | 219 | 1076 | 1120 | 405 |  | 451 | -49 | -255 | -628 |  | -571
[NAME] | 1506 | 1533 | 1287 | 1528 |  | 2032 | 2331 | 1717 | 1761 |  | 1463
APM Terminals | 125 | 482 | 177 | 128 |  | 168 | 191 | 214 | 196 |  | 304
[NAME] | 113 | 126 | 162 | 142 |  | 151 | 128 | 171 | 168 |  | 157
Maersk Supply Service¹ | 73 | 67 | 54 | 50 |  | 49 | 57.57559388846462 | 81.32024399109046 | 62.10416212044491 |  | 44
Maersk Tankers | 26 | -15 | -116 | -20 |  | 1 | -27 | -39 | -100 |  | -29
Damco | 17 | 11 | 39 | 7 |  | 16 | 20 | 34 | 27 |  | 13
[NAME] | 22 | 48 | 38 | 34 |  | 25 | 30.42440611153538 | 35.67975600890953 | 40.89583787955509 |  | 41
Maersk FPSO/Maersk LNG | -73 | -132 | 67 | -159 |  | 11 | -119 | 65 | 17 |  | 110
Dansk Supermarked Group | 90 | 115 | 109 | 185 |  | 85 | 831 | 78 | 131 |  | 65
Other businesses | 9 | 15 | 13 | -15 |  | 60 | 81 | 30 | 89 |  | 95
Unallocated and eliminations etc. | -45 | 32 | -12 | -52 |  | -54 | 34 | -28 | -95 |  | -31
Profit before financial items (EBIT) | 2082 | 3358 | 2938 | 2233 |  | 2995 | 3509 | 2104 | 1669 |  | 1661
Financial items, net | -283 | -342 | -187 | -127 |  | -242 | -159 | -301 | -153 |  | -166
[NAME] | 45 | 32 | 79 | 49 |  | 27 | 47 | 31 | 34 |  | 28
[NAME] | 1049 | 1073 | 842 | 1203 |  | 1496 | 1637 | 1348 | 1249 |  | 170
APM Terminals | 15 | 62 | 39 | 5 |  | 27 | 29 | 41 | 24 |  | 69
[NAME] | 34 | 25 | 36 | 41 |  | 29 | 28 | 33 | 40 |  | 32
Maersk Supply Service¹ | 13 | 11 | 8 | 10 |  | 7 | 6 | 3 | 9 |  | 2
Maersk Tankers | 1 | 2 | 2 | 4 |  | 3 | 2 | 1 | 6 |  | 1
Damco | 5 | 6 | 13 | 4 |  | 9 | 5 | 13 | 9 |  | 6
[NAME] | 4 | 3 | 6 | 5 |  | 7 | 7 | 9 | 8 |  | 8
Maersk FPSO/Maersk LNG | 1 | 35 | 4 | 30 |  | 3 | 1 | 3 | 36 |  | 0
Dansk Supermarked Group | 27 | 25 | 30 | 35 |  | 19 | 40 | 23 | 40 |  | 18
Other businesses | 9 | 8 | 3 | 10 |  | 5 | 8 | 8 | 17 |  | 12
Unallocated and eliminations etc. | 24 | 70 | 18 | 24 |  | 30 | 26 | 72 | 51 |  | 23
Tax | 1159 | 1132 | 1080 | 1284 |  | 1590 | 1780 | 1439 | 1251 |  | 321
[NAME] | 173 | 1045 | 1042 | 355 |  | 424 | -96 | -287 | -595 |  | -599
[NAME] | 457 | 460 | 445 | 326 |  | 537 | 694 | 368 | 513 |  | 1293
APM Terminals | 115 | 415 | 138 | 122 |  | 141 | 162 | 173 | 171 |  | 235
[NAME] | 78 | 102 | 126 | 102 |  | 122 | 99 | 139 | 128 |  | 125
Maersk Supply Service¹ | 60 | 57 | 46 | 38 |  | 43 | 51.2562150202433 | 79.59094328444931 | 70.15284169530739 |  | 42
Maersk Tankers | 28 | -13 | -119 | -16 |  | 4 | -24 | -39 | -94 |  | -28
Damco | 11 | 6 | 26 | 4 |  | 7 | 15 | 22 | 17 |  | 7
[NAME] | 19 | 48 | 33 | 29 |  | 18 | 24.7437849797567 | 25.4090567155507 | 31.8471583046926 |  | 33
Maersk FPSO/Maersk LNG | -72 | -99 | 63 | -129 |  | 14 | -122 | 66 | 52 |  | 110
Dansk Supermarked Group | 63 | 90 | 78 | 151 |  | 66 | 791 | 55 | 91 |  | 47
Other businesses | 19 | 6 | 10 | -5 |  | 56 | 72 | 20 | 73 |  | 83
Unallocated and eliminations etc. | -311 | -233 | -217 | -155 |  | -269 | -97 | -258 | -193 |  | -174
Discontinued operations incl. eliminations | -1 | 0 | 0 | 2 |  | 0 | 0 | 7 | 8 |  | 1
Profit for the period | 639 | 1884 | 1671 | 824 |  | 1163 | 1570 | 371 | 273 |  | 1175
[NAME] | 121 | 1076 | 1557 | 1364 |  | 615 | 319 | -53 | 18 |  | -257
[NAME] | 1220 | 1228 | 948 | 532 |  | 1201 | 1502 | 1250 | 366 |  | 1135
APM Terminals | 170 | 216 | 229 | 229 |  | 203 | 178 | 255 | 276 |  | 199
[NAME] | 186 | 68 | 148 | 234 |  | 213 | 182 | 160 | 270 |  | 125
Maersk Supply Service¹ | 55 | 70 | 126 | 144 |  | 59 | 63.66052512758279 | 111.7635194803599 | 142.5759553920573 |  | 87
Maersk Tankers | 56 | 17 | 24 | 24 |  | 29 | -14 | 22 | 58 |  | -12
Damco | -16 | 12 | 33 | 54 |  | 5 | -14 | 53 | 49 |  | -43
[NAME] | 24 | 31 | 65 | 27 |  | 28 | 46.33947487241721 | 39.23648051964007 | 15.42404460794272 |  | 94
Maersk FPSO/Maersk LNG | 50 | 41 | 59 | -38 |  | 59 | 18 | 17 | 132 |  | 56
Dansk Supermarked Group | 103 | 237 | -23 | 126 |  | 86 | 123 | 102 | 113 |  | 15
Other businesses | 62 | 8 | -32 | 121 |  | -2 | 5 | 18 | 93 |  | 47
Unallocated and eliminations etc. | 41 | -705 | -141 | -49 |  | -240 | -592 | 116 | -435 |  | -287
Cash flow from from operating activities | 2072 | 2299 | 2993 | 2768 |  | 2256 | 1817 | 2091 | 1098 |  | 1159
[NAME] | -51 | -185 | -379 | -333 |  | -567 | -573 | -1160 | -871 |  | -1130
[NAME] | -703 | -517 | -210 | -532 |  | -199 | -408 | -2560 | -621 |  | -553
APM Terminals | -108 | 348 | -393 | -148 |  | -79 | -336 | -163 | -110 |  | -53
[NAME] | -108 | -157 | -57 | -25 |  | -117 | -178 | -241 | -64 |  | -35
Maersk Supply Service¹ | -53 | -57 | -9 | -31 |  | -36 | -19.0301505705435 | -18.8607658705039 | -47.10908355895261 |  | -43
Maersk Tankers | 38 | -82 | -87 | 42 |  | -73 | -224 | -220 | -151 |  | -269
Damco | -2 | -12 | -6 | -8 |  | -3 | -5 | -94 | -17 |  | 1
[NAME] | -34 | 6 | -32 | -64 |  | -32 | -64.9698494294565 | -49.13923412949609 | -39.89091644104741 |  | -44
Maersk FPSO/Maersk LNG | -125 | -65 | -47 | -100 |  | -25 | -5 | 1 | 57 |  | 1297
Dansk Supermarked Group | -85 | -114 | -100 | -94 |  | -87 | 1043 | -158 | -165 |  | -103
Other businesses | 145 | 3 | 35 | -60 |  | -48 | -789 | -67 | -32 |  | -12
Unallocated and eliminations etc. | -71 | 66 | -31 | -46 |  | 32 | -84 | -45 | -46 |  | 69
Cash flow used for capital expenditure | -1157 | -766 | -1316 | -1399 |  | -1234 | -1643 | -4775 | -2107 |  | -875
[NAME] | 0.04 | 0.14 | 0.173 | 0.153 |  | 0.1 | 0.038 | 0.003 | -0.03 |  | -0.127
[NAME] | 0.358 | 0.374 | 0.392 | 0.362 |  | 0.463 | 0.592 | 0.443 | 0.349 |  | 0.765
APM Terminals | 0.089 | 0.215 | 0.189 | 0.166 |  | 0.118 | 0.121 | 0.123 | 0.126 |  | 0.181
[NAME] | 0.088 | 0.098 | 0.108 | 0.109 |  | 0.129 | 0.114 | 0.118 | 0.118 |  | 0.122
Maersk Supply Service¹ | 0.123 | 0.116 | 0.108 | 0.096 |  | 0.077 | 0.077 | 0.1547127656238179 | 0.121 |  | 0.077
Maersk Tankers | 0.032 | 0.009 | -0.04 | -0.036 |  | 0.004 | -0.011 | -0.021 | -0.041 |  | -0.029
Damco | 0.203 | 0.151 | 0.249 | 0.22 |  | 0.147 | 0.204 | 0.218 | 0.197 |  | 0.082
[NAME] | 0.043 | 0.079 | 0.077 | 0.077 |  | 0.044 | 0.05869060972632045 | 0.05423543786581211 | 0.056 |  | 0.082
Maersk FPSO/Maersk LNG | -0.091 | 0.11 | -0.048 | -0.083 |  | 0.02 | -0.08 | -0.021 | 0.004 |  | 0.23
Dansk Supermarked Group | 0.101 | 0.13 | 0.125 | 0.14 |  | 0.092 | 0.602 | 0.456 | 0.382 |  | 0.069
Other businesses |  |  |  |  |  | 0.049 |  |  |  |  | 0.061
ROIC (USD) | 0.076 | 0.181 | 0.157 | 0.079 |  | 0.117 | 0.14 | 0.048 | 0.0305 |  | 0.1
¹ = ESVAGT has been transferred from SVITZER to Maersk Supply Service as of 1 January 2012. Comparison figures have been restated for 2011.