Apr 02, 2019 / 08:00AM GMT
Jim Hagemann Snabe - A.P. Møller-Mærsk A/S-Chairman
Thank you very much. And once again, a warm welcome to all of you. We're happy to see that so many of you are here today. We see it as a sign of great interest in A.P. Møller - Mærsk A/S and our transformation.
Nevertheless, I stand here as Chairman with mixed emotions about the results I'm going to present to you today for 2018. Financially, 2018 was not a satisfactory year. A downgrade of our expectations for the year and a profit before tax of $238 million out of our $39 billion revenue are simply not satisfactory. But 2018 was also a year of sound progress in delivering on our long-term strategy and transformation. It was necessary and expected but also essential if we are to achieve the desired financial results in the future.
Before I move on to the review of 2018, I'd like to start with a brief look back at the journey we've been on since 2016 when we fundamentally changed our strategy. Why did we change our strategy in 2016? Our new strategy
AP Moeller - Maersk A/S Annual Shareholders Meeting Transcript
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