After taking over as CEO of AP Møller-Maersk in December 2007, Nils Smedegaard Andersen hasn't seen any huge changes in the maritime company's share price.
The company's shareholders have seen only modest returns, despite extensive efficiency initiatives, divestitures and a major buyback of shares worth more than five billion kroner, Finans reports.
“Maersk shares have in recent years not fared particularly well compared to the rest of the market,” Peter Holt, a portfolio manager from Carnegie Asset Management, told Finans. “They currently have a major focus on oil, which inhibits share value.”
A better market for some
In the same period, since the end of 2007, the Danish stock index C20 has increased by 70 percent, and other large Danish companies – such as Novo Nordisk, Coloplast and Topdanamrk – have all seen much larger share price increases.
The only companies to exhibit the same stagnant or decreasing share movement have been those that have been trying to surmount significant challenges, such as Carlsberg and Vestas.
“It is true that our share price over the last seven years has not increased noticeably,” Andersen told Finans. “But we look at our share price relative to other companies in the industries in which we operate, and here we are doing significantly better than average based on external balances.”
Holt remarked to Finans that Maersk would give investors better returns if they made the move to “split up the group” and listed the individual business units separately.