A.P. Moller-Maersk: In an interview with Danish financial paper Børsen CEO Søren Skou reiterates the need to make additional acquisitions within the Logistics segment to add more competences. This is the same wording as previous where CEO Søren Skou has stated that APMM will target smaller bolt-on acquisitions within the Logistics segment as the Ocean part of the Group is already at the size needed to create satisfying results.
Furthermore CEO Søren Skou states that APMM will consider additional share buy backs in Q4 – which is the same message as in connection with the Q2 20 report. Overall we believe that the interview contains no material news on the strategy or capital structure of the Group. However, the fact that CEO Søren Skou participates in such an interview is likely to be seen as a sign of confidence in the upcoming Q3 20 result (18 November) in our view – on the back of very high container freight rates in recent months.