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86000000 3908000000 0 84000000 -25000000 12000000 3832000000 3903000000 71000000 3974000000 0 0 0 0 10824000000 10824000000 94000000 10918000000 0 0 0 0 28000000 28000000 0 28000000 0 0 0 0 16000000 16000000 -15000000 1000000 0 0 0 0 0 0 1000000 1000000 0 0 0 0 3072000000 3072000000 0 3072000000 0 0 0 0 24000000 24000000 0 24000000 -206000000 0 0 0 206000000 0 26000000 26000000 0 0 2000000 0 -2000000 0 0 0 0 0 0 4000000 0 4000000 0 4000000 -206000000 0 2000000 -4000000 -13656000000 -13864000000 -52000000 -13916000000 3186000000 -1148000000 189000000 -19000000 51822000000 54030000000 1060000000 55090000000 <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Basis of prepar<span class="_ _2"/>ation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The consolidated financial statemen<span class="_ _2"/>ts for<span class="_ _2"/> 2023 for<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>.<span class="_ _2"/> Moll<span class="_ _2"/>er<span class="_ _2"/> - Ma<span class="_ _2"/>ersk<span class="_ _2"/> have been prepar<span class="_ _2"/>ed on a going con<span class="ls0 ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cern basis and in accor<span class="_ _2"/>dance with IFRS <span class="_ _2"/>Accounting Stand-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ards as adopted b<span class="_ _2"/>y the EU and additional Danish<span class="_ _2"/> disclo<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sure r<span class="_ _2"/>equirements f<span class="_ _2"/>or list<span class="_ _2"/>ed companies.<span class="_ _2"/> The consolidat<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">financial statements of <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk are included </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the consolida<span class="_ _2"/>ted financial statements o<span class="_ _2"/>f <span class="_ _2"/>A.P<span class="_ _4"/>.<span class="_ _2"/> Møl<span class="_ _2"/>ler<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Holding A/S<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Basis of prepar<span class="_ _2"/>ation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The consolidated financial statemen<span class="_ _2"/>ts for<span class="_ _2"/> 2023 for<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>.<span class="_ _2"/> Moll<span class="_ _2"/>er<span class="_ _2"/> - Ma<span class="_ _2"/>ersk<span class="_ _2"/> have been prepar<span class="_ _2"/>ed on a going con<span class="ls0 ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cern basis and in accor<span class="_ _2"/>dance with IFRS <span class="_ _2"/>Accounting Stand-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ards as adopted b<span class="_ _2"/>y the EU and additional Danish<span class="_ _2"/> disclo<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sure r<span class="_ _2"/>equirements f<span class="_ _2"/>or list<span class="_ _2"/>ed companies.<span class="_ _2"/> The consolidat<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">financial statements of <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk are included </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the consolida<span class="_ _2"/>ted financial statements o<span class="_ _2"/>f <span class="_ _2"/>A.P<span class="_ _4"/>.<span class="_ _2"/> Møl<span class="_ _2"/>ler<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Holding A/S<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The acc<span class="_ _2"/>ounting policies are consisten<span class="_ _2"/>t with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">those applied in the consolida<span class="_ _2"/>ted financial statements f<span class="_ _2"/>or<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2022, e<span class="_ _2"/>xcept for<span class="_ _0"/> the changes to accoun<span class="_ _2"/>ting standards <span class="_ _2"/>that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">were eff<span class="_ _2"/>ective from 1 <span class="_ _2"/>January 2023 and <span class="_ _2"/>were endorsed by<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the EU.<span class="_ _2"/> The chang<span class="_ _2"/>es have not had a ma<span class="_ _2"/>terial impact on <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">financial statements.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The acc<span class="_ _2"/>ounting policies are consisten<span class="_ _2"/>t with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">those applied in the consolida<span class="_ _2"/>ted financial statements f<span class="_ _2"/>or<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2022, e<span class="_ _2"/>xcept for<span class="_ _0"/> the changes to accoun<span class="_ _2"/>ting standards <span class="_ _2"/>that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">were eff<span class="_ _2"/>ective from 1 <span class="_ _2"/>January 2023 and <span class="_ _2"/>were endorsed by<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the EU.<span class="_ _2"/> The chang<span class="_ _2"/>es have not had a ma<span class="_ _2"/>terial impact on <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">financial statements.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Consolidation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The consolidated financial statemen<span class="_ _2"/>ts comprise the <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">parent<span class="_ _2"/> company <span class="_ _2"/>A.P<span class="_ _4"/>. Møller<span class="_ _0"/> - Mærsk A/S,<span class="_ _2"/> its subsidiaries </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and proportionat<span class="_ _2"/>e shares in joint<span class="_ _2"/> arrang<span class="_ _2"/>ements classified </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as joint oper<span class="_ _2"/>ations.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Subsidiaries are entities con<span class="_ _2"/>trolled by<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Møller<span class="_ _2"/> - Mærsk A/S<span class="_ _0"/>. Control is based on <span class="_ _2"/>the power<span class="_ _2"/> t<span class="_ _2"/>o </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">direct<span class="_ _2"/> the r<span class="_ _2"/>elevant<span class="_ _2"/> activities of an entity and <span class="_ _2"/>the expo<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sure,<span class="_ _2"/> or<span class="_ _2"/> right,<span class="_ _2"/> to <span class="_ _2"/>variable r<span class="_ _2"/>eturns arising from it.<span class="_ _2"/> In tha<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">connection, r<span class="_ _2"/>elevan<span class="_ _2"/>t activities ar<span class="_ _2"/>e those tha<span class="_ _2"/>t significantly<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">affect <span class="_ _2"/>the investee<span class="_ _2"/>’s r<span class="_ _2"/>eturns.<span class="_ _2"/> Control is usual<span class="_ _2"/>ly achie<span class="_ _2"/>ved </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by dir<span class="_ _2"/>ectly<span class="_ _2"/> or indir<span class="_ _2"/>ectly<span class="_ _2"/> owning or<span class="_ _2"/> in other<span class="_ _2"/> way<span class="_ _2"/>s control<span class="_ _2"/>ling </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">more <span class="_ _2"/>than 50% of the <span class="_ _2"/>voting rights or<span class="_ _2"/> by other<span class="_ _0"/> rights, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">such as agreements on<span class="_ _2"/> management con<span class="_ _2"/>trol.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Joint<span class="_ _2"/> arrangements ar<span class="_ _2"/>e entities in which<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _0"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk,<span class="_ _2"/> according <span class="_ _2"/>to contr<span class="_ _2"/>actual agreements </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with one or<span class="_ _2"/> more other<span class="_ _2"/> parties,<span class="_ _2"/> has joint<span class="_ _2"/> control.<span class="_ _2"/> <span class="_ _2"/>The </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">arrang<span class="_ _2"/>ements are classified as joint<span class="_ _2"/> ven<span class="_ _2"/>tures,<span class="_ _2"/> if the<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contr<span class="_ _2"/>acting parties’<span class="_ _0"/> rights are limited to net<span class="_ _2"/> assets in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the separa<span class="_ _2"/>te legal entities<span class="_ _2"/>, and as joint<span class="_ _2"/> opera<span class="_ _2"/>tions,<span class="_ _2"/> if the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">parties have dir<span class="_ _2"/>ect and unlimited rights <span class="_ _2"/>to the assets and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">obligations for<span class="_ _0"/> the liabilities of the arr<span class="_ _2"/>angement. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Entities in which <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk exer<span class="_ _2"/>cises a signif-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">icant but<span class="_ _2"/> non-control<span class="_ _2"/>ling influence are consider<span class="_ _2"/>ed associ-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ated companies.<span class="_ _2"/> <span class="_ _2"/>A significant<span class="_ _2"/> influence is usuall<span class="_ _2"/>y achieved </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by dir<span class="_ _2"/>ectly<span class="_ _2"/> or indir<span class="_ _2"/>ectly<span class="_ _2"/> owning or<span class="_ _2"/> control<span class="_ _2"/>ling 20-50% of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the voting rights<span class="_ _2"/>. <span class="_ _2"/>Agreemen<span class="_ _2"/>ts and other cir<span class="_ _2"/>cumstances </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are consider<span class="_ _2"/>ed when assessing <span class="_ _2"/>the degree of influenc<span class="_ _2"/>e. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Consolidation is performed by<span class="_ _2"/> summarising the finan-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cial statements of <span class="_ _2"/>the parent<span class="_ _2"/> company and its subsidiar<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ies in accordanc<span class="_ _2"/>e with <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s accounting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">policies.<span class="_ _2"/> Intra-gr<span class="_ _2"/>oup income and expenses,<span class="_ _2"/> shar<span class="_ _2"/>eholdings, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dividends,<span class="_ _2"/> intra-gr<span class="_ _2"/>oup balances and gains on intr<span class="_ _2"/>a-gr<span class="_ _2"/>oup </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transactions ar<span class="_ _2"/>e eliminated.<span class="_ _2"/> Unrealised g<span class="_ _2"/>ains on tr<span class="_ _2"/>ansac<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tions with associated c<span class="_ _2"/>ompanies and joint arr<span class="_ _2"/>angements </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are eliminat<span class="_ _2"/>ed in proportion <span class="_ _2"/>to <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">owner <span class="_ _4"/>ship share.<span class="_ _2"/> Unrealised losses ar<span class="_ _2"/>e eliminated in <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">same way<span class="_ _2"/> unless the<span class="_ _2"/>y indicate impairment.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Non-control<span class="_ _2"/>ling inter<span class="_ _2"/>ests’<span class="_ _0"/> share of profit/loss for<span class="_ _0"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">year<span class="_ _2"/> and of equity in subsidiaries is included as part<span class="_ _2"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s profit<span class="_ _2"/> and equity respectiv<span class="_ _2"/>ely but<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">shown as separ<span class="_ _2"/>ate items.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Foreign currency<span class="_ _2"/> translation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The consolidated financial statemen<span class="_ _2"/>ts are pr<span class="_ _2"/>esented </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in USD,<span class="_ _2"/> the functional curr<span class="_ _2"/>ency of <span class="_ _2"/>the parent<span class="_ _2"/> company<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In the tr<span class="_ _2"/>anslation to the presentation<span class="_ _2"/> currency for<span class="_ _2"/> sub-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sidiaries,<span class="_ _2"/> associates or<span class="_ _2"/> joint arr<span class="_ _2"/>angements <span class="_ _2"/>with func<span class="_ _0"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tional currencies other<span class="_ _2"/> <span class="_ _2"/>than USD,<span class="_ _2"/> the <span class="_ _2"/>total comprehensiv<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income is tr<span class="_ _2"/>anslated int<span class="_ _2"/>o USD at a<span class="_ _2"/>verag<span class="_ _2"/>e exchange r<span class="_ _2"/>ates,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the balance sheet<span class="_ _2"/> is tr<span class="_ _2"/>anslated at<span class="_ _2"/> the exchang<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _2"/>tes as at <span class="_ _2"/>the balance sheet dat<span class="_ _2"/>e. Ex<span class="_ _2"/>change ra<span class="_ _2"/>te dif<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fer<span class="_ _2"/>en<span class="_ _2"/>ces <span class="_ _2"/>arising from such <span class="_ _2"/>transla<span class="_ _2"/>tions are r<span class="_ _2"/>ecognised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">directl<span class="_ _2"/>y in other<span class="_ _2"/> compr<span class="_ _2"/>ehensive income and in a separ<span class="_ _2"/>ate </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reserve of equity<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The functional currency<span class="_ _2"/> varies fr<span class="_ _2"/>om business ar<span class="_ _2"/>ea to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">business area.<span class="_ _2"/> For<span class="_ _2"/> A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler<span class="_ _2"/> - Maersk’s principal shipping </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">activities,<span class="_ _2"/> the functional curr<span class="_ _2"/>ency is typical<span class="_ _2"/>ly USD<span class="_ _2"/>.<span class="_ _2"/> This </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">means,<span class="_ _2"/> among other <span class="_ _2"/>things,<span class="_ _2"/> that<span class="_ _2"/> the carrying amounts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of property<span class="_ _0"/>, plant and equipmen<span class="_ _2"/>t and intangible assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and, hence<span class="_ _2"/>, depr<span class="_ _2"/>eciation and amortisation,<span class="_ _2"/> are maintained </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in USD fr<span class="_ _2"/>om the dat<span class="_ _2"/>e of acquisition. For<span class="_ _0"/> other activities,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">including container<span class="_ _2"/> terminal activities and land-based<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">logistics activities,<span class="_ _2"/> the functional curr<span class="_ _2"/>ency is gener<span class="_ _2"/>all<span class="_ _2"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the local currency<span class="_ _2"/> of the country<span class="_ _2"/> in which such activities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are performed,<span class="_ _2"/> unless cir<span class="_ _2"/>cumstances suggest a diff<span class="_ _2"/>erent<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currency<span class="_ _2"/> is appropriate<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>T<span class="_ _2"/>r<span class="_ _2"/>ansactions in currencies other<span class="_ _0"/> than the functional </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currency<span class="_ _2"/> are <span class="_ _2"/>translat<span class="_ _2"/>ed at <span class="_ _2"/>the exchange r<span class="_ _2"/>ate pr<span class="_ _2"/>evailing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">at <span class="_ _2"/>the date of <span class="_ _2"/>the tr<span class="_ _2"/>ansaction. Monetary<span class="_ _2"/> items in for<span class="_ _2"/>eign </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currencies not<span class="_ _2"/> settled at <span class="_ _2"/>the balance sheet date ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transla<span class="_ _2"/>ted at <span class="_ _2"/>the exchange r<span class="_ _2"/>ate as at<span class="_ _2"/> the balance sheet<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">date.<span class="_ _2"/> Foreign<span class="_ _2"/> exchange gains and losses ar<span class="_ _2"/>e included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _2"/> as financial income or<span class="_ _2"/> expenses.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Foreign currency<span class="_ _2"/> translation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The consolidated financial statemen<span class="_ _2"/>ts are pr<span class="_ _2"/>esented </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in USD,<span class="_ _2"/> the functional curr<span class="_ _2"/>ency of <span class="_ _2"/>the parent<span class="_ _2"/> company<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In the tr<span class="_ _2"/>anslation to the presentation<span class="_ _2"/> currency for<span class="_ _2"/> sub-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sidiaries,<span class="_ _2"/> associates or<span class="_ _2"/> joint arr<span class="_ _2"/>angements <span class="_ _2"/>with func<span class="_ _0"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tional currencies other<span class="_ _2"/> <span class="_ _2"/>than USD,<span class="_ _2"/> the <span class="_ _2"/>total comprehensiv<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income is tr<span class="_ _2"/>anslated int<span class="_ _2"/>o USD at a<span class="_ _2"/>verag<span class="_ _2"/>e exchange r<span class="_ _2"/>ates,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the balance sheet<span class="_ _2"/> is tr<span class="_ _2"/>anslated at<span class="_ _2"/> the exchang<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _2"/>tes as at <span class="_ _2"/>the balance sheet dat<span class="_ _2"/>e. Ex<span class="_ _2"/>change ra<span class="_ _2"/>te dif<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fer<span class="_ _2"/>en<span class="_ _2"/>ces <span class="_ _2"/>arising from such <span class="_ _2"/>transla<span class="_ _2"/>tions are r<span class="_ _2"/>ecognised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">directl<span class="_ _2"/>y in other<span class="_ _2"/> compr<span class="_ _2"/>ehensive income and in a separ<span class="_ _2"/>ate </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reserve of equity<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The functional currency<span class="_ _2"/> varies fr<span class="_ _2"/>om business ar<span class="_ _2"/>ea to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">business area.<span class="_ _2"/> For<span class="_ _2"/> A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler<span class="_ _2"/> - Maersk’s principal shipping </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">activities,<span class="_ _2"/> the functional curr<span class="_ _2"/>ency is typical<span class="_ _2"/>ly USD<span class="_ _2"/>.<span class="_ _2"/> This </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">means,<span class="_ _2"/> among other <span class="_ _2"/>things,<span class="_ _2"/> that<span class="_ _2"/> the carrying amounts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of property<span class="_ _0"/>, plant and equipmen<span class="_ _2"/>t and intangible assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and, hence<span class="_ _2"/>, depr<span class="_ _2"/>eciation and amortisation,<span class="_ _2"/> are maintained </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in USD fr<span class="_ _2"/>om the dat<span class="_ _2"/>e of acquisition. For<span class="_ _0"/> other activities,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">including container<span class="_ _2"/> terminal activities and land-based<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">logistics activities,<span class="_ _2"/> the functional curr<span class="_ _2"/>ency is gener<span class="_ _2"/>all<span class="_ _2"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the local currency<span class="_ _2"/> of the country<span class="_ _2"/> in which such activities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are performed,<span class="_ _2"/> unless cir<span class="_ _2"/>cumstances suggest a diff<span class="_ _2"/>erent<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currency<span class="_ _2"/> is appropriate<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>T<span class="_ _2"/>r<span class="_ _2"/>ansactions in currencies other<span class="_ _0"/> than the functional </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currency<span class="_ _2"/> are <span class="_ _2"/>translat<span class="_ _2"/>ed at <span class="_ _2"/>the exchange r<span class="_ _2"/>ate pr<span class="_ _2"/>evailing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">at <span class="_ _2"/>the date of <span class="_ _2"/>the tr<span class="_ _2"/>ansaction. Monetary<span class="_ _2"/> items in for<span class="_ _2"/>eign </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currencies not<span class="_ _2"/> settled at <span class="_ _2"/>the balance sheet date ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transla<span class="_ _2"/>ted at <span class="_ _2"/>the exchange r<span class="_ _2"/>ate as at<span class="_ _2"/> the balance sheet<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">date.<span class="_ _2"/> Foreign<span class="_ _2"/> exchange gains and losses ar<span class="_ _2"/>e included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _2"/> as financial income or<span class="_ _2"/> expenses.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Share of<span class="_ _2"/> profit/lo<span class="_ _2"/>ss in associated companies and joint v<span class="_ _2"/>en-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tures<span class="ff3"> is reco<span class="_ _2"/>gnised net of <span class="_ _2"/>tax and corrected f<span class="_ _2"/>or<span class="_ _2"/> the share </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of unrealised intr<span class="_ _2"/>a-gr<span class="_ _2"/>oup gains and losses.<span class="_ _2"/> The it<span class="_ _2"/>em also </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprises any impairmen<span class="_ _2"/>t losses for<span class="_ _0"/> such investments </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and their<span class="_ _2"/> reversal.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Investments in associa<span class="_ _2"/>ted companies and joint <span class="_ _2"/>ventur<span class="_ _2"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are recogn<span class="_ _1"/>ised<span class="_ _1"/> as<span class="_ _1"/> A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler - Maersk’<span class="_ _0"/>s share of the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">equity <span class="_ _2"/>value inclusive of goodwil<span class="_ _2"/>l less any impairment<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">losses.<span class="_ _2"/> Goodwill is an inte<span class="_ _2"/>gral part<span class="_ _2"/> of the <span class="_ _2"/>value of associ-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ated companies and joint<span class="_ _2"/> ventur<span class="_ _2"/>es and is ther<span class="_ _2"/>efor<span class="_ _2"/>e sub-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ject to an impairment test<span class="_ _2"/> tog<span class="_ _2"/>ether with the investment.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses ar<span class="_ _2"/>e rev<span class="_ _2"/>ersed to <span class="_ _2"/>the extent<span class="_ _2"/> the original </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value is consider<span class="_ _2"/>ed recov<span class="_ _2"/>erable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Joint vent<span class="_ _2"/>ures</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:303.685546875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 565.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Company<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 325.98px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Country of incorpor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 18.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Owned share</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.9023px; width: 565.512px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Blue Drag<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>on Logistics Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 229.793px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.619px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>50%</span><span style="position: absolute; display: inline-block; left: 0px; top: 42.6836px; width: 565.207px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Brasil <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Portuario S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 231.486px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Brazil <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.77px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>50%</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.4805px; width: 565.465px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Cai Mep International <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 186.522px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Vietnam <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.705px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>49%</span><span style="position: absolute; display: inline-block; left: 0px; top: 78.2617px; width: 565.57px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Caucedo Marine Service S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A. (DR Br<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>anch) <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 179.145px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Dominican Republic <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 79.6054px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>50%</span><span style="position: absolute; display: inline-block; left: 0px; top: 96.043px; width: 565.459px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Cote D’Ivoir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal SA<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 250.353px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Côte d’Ivoir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 114.258px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>49%</span><span style="position: absolute; display: inline-block; left: 0px; top: 113.84px; width: 565.301px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">LCB Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal 1 Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 232.096px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Thailand <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 132.451px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>35%</span><span style="position: absolute; display: inline-block; left: 0px; top: 131.621px; width: 565.611px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">LCMT<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Company<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 275.022px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Thailand <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.213px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>32%</span><span style="position: absolute; display: inline-block; left: 0px; top: 149.418px; width: 565.939px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Nakilat S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>vitzerwijsmuller<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Company W<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.L.L. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 176.297px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Qatar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.445px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>30%</span><span style="position: absolute; display: inline-block; left: 0px; top: 167.199px; width: 565.195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">North Sea <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Bremerhaven Gmbh<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> and Co KG <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.455px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Germany <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>50%</span><span style="position: absolute; display: inline-block; left: 0px; top: 184.98px; width: 565.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Qingdao New Qianw<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>an Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 135.147px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.478px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>19%</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.777px; width: 565.365px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Qingdao Qianwan<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 158.648px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.619px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>20%</span><span style="position: absolute; display: inline-block; left: 0px; top: 220.559px; width: 565.424px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Shanghai East Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Co. L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>td. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 173.643px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.619px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>49%</span><span style="position: absolute; display: inline-block; left: 0px; top: 238.34px; width: 565.436px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Smart Int<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ernational Logistics Company L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>td.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 165.234px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.619px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>49%</span><span style="position: absolute; display: inline-block; left: 0px; top: 256.137px; width: 565.324px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">South Florida Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal LLC <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 194.221px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>tates <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.938px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>49%</span><span style="position: absolute; display: inline-block; left: 0px; top: 273.918px; width: 565.611px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Svitzer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Caribbean Dominicana, S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A.S <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.736px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Dominican Republic <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.0685px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>50%</span><span style="position: absolute; display: inline-block; left: 0px; top: 291.699px; width: 565.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Xiamen Songyu Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 167.408px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.445px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>25%</span></span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Share of<span class="_ _2"/> profit/lo<span class="_ _2"/>ss in associated companies and joint v<span class="_ _2"/>en-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tures<span class="ff3"> is reco<span class="_ _2"/>gnised net of <span class="_ _2"/>tax and corrected f<span class="_ _2"/>or<span class="_ _2"/> the share </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of unrealised intr<span class="_ _2"/>a-gr<span class="_ _2"/>oup gains and losses.<span class="_ _2"/> The it<span class="_ _2"/>em also </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprises any impairmen<span class="_ _2"/>t losses for<span class="_ _0"/> such investments </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and their<span class="_ _2"/> reversal.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Investments in associa<span class="_ _2"/>ted companies and joint <span class="_ _2"/>ventur<span class="_ _2"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are recogn<span class="_ _1"/>ised<span class="_ _1"/> as<span class="_ _1"/> A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler - Maersk’<span class="_ _0"/>s share of the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">equity <span class="_ _2"/>value inclusive of goodwil<span class="_ _2"/>l less any impairment<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">losses.<span class="_ _2"/> Goodwill is an inte<span class="_ _2"/>gral part<span class="_ _2"/> of the <span class="_ _2"/>value of associ-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ated companies and joint<span class="_ _2"/> ventur<span class="_ _2"/>es and is ther<span class="_ _2"/>efor<span class="_ _2"/>e sub-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ject to an impairment test<span class="_ _2"/> tog<span class="_ _2"/>ether with the investment.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses ar<span class="_ _2"/>e rev<span class="_ _2"/>ersed to <span class="_ _2"/>the extent<span class="_ _2"/> the original </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value is consider<span class="_ _2"/>ed recov<span class="_ _2"/>erable.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Share of<span class="_ _2"/> profit/lo<span class="_ _2"/>ss in associated companies and joint v<span class="_ _2"/>en-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tures<span class="ff3"> is reco<span class="_ _2"/>gnised net of <span class="_ _2"/>tax and corrected f<span class="_ _2"/>or<span class="_ _2"/> the share </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of unrealised intr<span class="_ _2"/>a-gr<span class="_ _2"/>oup gains and losses.<span class="_ _2"/> The it<span class="_ _2"/>em also </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprises any impairmen<span class="_ _2"/>t losses for<span class="_ _0"/> such investments </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and their<span class="_ _2"/> reversal.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Investments in associa<span class="_ _2"/>ted companies and joint <span class="_ _2"/>ventur<span class="_ _2"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are recogn<span class="_ _1"/>ised<span class="_ _1"/> as<span class="_ _1"/> A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler - Maersk’<span class="_ _0"/>s share of the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">equity <span class="_ _2"/>value inclusive of goodwil<span class="_ _2"/>l less any impairment<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">losses.<span class="_ _2"/> Goodwill is an inte<span class="_ _2"/>gral part<span class="_ _2"/> of the <span class="_ _2"/>value of associ-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ated companies and joint<span class="_ _2"/> ventur<span class="_ _2"/>es and is ther<span class="_ _2"/>efor<span class="_ _2"/>e sub-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ject to an impairment test<span class="_ _2"/> tog<span class="_ _2"/>ether with the investment.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses ar<span class="_ _2"/>e rev<span class="_ _2"/>ersed to <span class="_ _2"/>the extent<span class="_ _2"/> the original </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value is consider<span class="_ _2"/>ed recov<span class="_ _2"/>erable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Associated c<span class="_ _2"/>ompanies</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:250.341796875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 565.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Company<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 325.98px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Country of incorpor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 18.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Owned share</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.9023px; width: 565.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Abidjan <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal SA <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 274.488px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Côt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e d’Ivoire <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 114.258px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>49%</span><span style="position: absolute; display: inline-block; left: 0px; top: 42.6992px; width: 565.418px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Brigantine Services Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 257.326px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Hong Kong <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 121.02px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>30%</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.4805px; width: 565.271px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Conakry T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal S.A.<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 267.492px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Guinea <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 141.147px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>25%</span><span style="position: absolute; display: inline-block; left: 0px; top: 78.2617px; width: 565.336px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Congo T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>SA <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.756px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Congo <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.77px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>15%</span><span style="position: absolute; display: inline-block; left: 0px; top: 96.0586px; width: 565.477px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Guangzhou South China Oceangat<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 75.9315px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.619px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>20%</span><span style="position: absolute; display: inline-block; left: 0px; top: 113.84px; width: 565.26px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Itapoa <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminais Portuarios S.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 219.065px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Br<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>azil <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.185px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>30%</span><span style="position: absolute; display: inline-block; left: 0px; top: 131.621px; width: 565.277px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Kanoo T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Services <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Ltd. <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 233.578px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Saudi Ar<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>abia <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 114.732px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>50%</span><span style="position: absolute; display: inline-block; left: 0px; top: 149.418px; width: 565.664px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Meridian Port Servic<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>es Ltd <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.148px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Ghana <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 143.625px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>35%</span><span style="position: absolute; display: inline-block; left: 0px; top: 167.199px; width: 565.723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Pelabuhan <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>anjung Pelepas Sdn. Bhd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 193.565px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Malaysia <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.455px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>30%</span><span style="position: absolute; display: inline-block; left: 0px; top: 184.996px; width: 565.547px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Qingdao Qianwan<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> United Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.103px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 148.412px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>10%</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.777px; width: 565.359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Salalah Port<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Services Company SAOG <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 194.221px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Oman <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 144.949px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>30%</span><span style="position: absolute; display: inline-block; left: 0px; top: 220.559px; width: 565.189px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">South <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Asia Gatewa<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>y <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Pvt Ltd <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.852px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Sri Lanka <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>33%</span><span style="position: absolute; display: inline-block; left: 0px; top: 238.355px; width: 565.898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Tianjin Port <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Al<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>liance International Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Co. L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>td. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 82.5233px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.445px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>20%</span></span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Share of<span class="_ _2"/> profit/lo<span class="_ _2"/>ss in associated companies and joint v<span class="_ _2"/>en-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tures<span class="ff3"> is reco<span class="_ _2"/>gnised net of <span class="_ _2"/>tax and corrected f<span class="_ _2"/>or<span class="_ _2"/> the share </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of unrealised intr<span class="_ _2"/>a-gr<span class="_ _2"/>oup gains and losses.<span class="_ _2"/> The it<span class="_ _2"/>em also </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprises any impairmen<span class="_ _2"/>t losses for<span class="_ _0"/> such investments </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and their<span class="_ _2"/> reversal.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Investments in associa<span class="_ _2"/>ted companies and joint <span class="_ _2"/>ventur<span class="_ _2"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are recogn<span class="_ _1"/>ised<span class="_ _1"/> as<span class="_ _1"/> A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler - Maersk’<span class="_ _0"/>s share of the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">equity <span class="_ _2"/>value inclusive of goodwil<span class="_ _2"/>l less any impairment<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">losses.<span class="_ _2"/> Goodwill is an inte<span class="_ _2"/>gral part<span class="_ _2"/> of the <span class="_ _2"/>value of associ-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ated companies and joint<span class="_ _2"/> ventur<span class="_ _2"/>es and is ther<span class="_ _2"/>efor<span class="_ _2"/>e sub-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ject to an impairment test<span class="_ _2"/> tog<span class="_ _2"/>ether with the investment.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses ar<span class="_ _2"/>e rev<span class="_ _2"/>ersed to <span class="_ _2"/>the extent<span class="_ _2"/> the original </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value is consider<span class="_ _2"/>ed recov<span class="_ _2"/>erable.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Share of<span class="_ _2"/> profit/lo<span class="_ _2"/>ss in associated companies and joint v<span class="_ _2"/>en-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tures<span class="ff3"> is reco<span class="_ _2"/>gnised net of <span class="_ _2"/>tax and corrected f<span class="_ _2"/>or<span class="_ _2"/> the share </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of unrealised intr<span class="_ _2"/>a-gr<span class="_ _2"/>oup gains and losses.<span class="_ _2"/> The it<span class="_ _2"/>em also </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprises any impairmen<span class="_ _2"/>t losses for<span class="_ _0"/> such investments </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and their<span class="_ _2"/> reversal.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Investments in associa<span class="_ _2"/>ted companies and joint <span class="_ _2"/>ventur<span class="_ _2"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are recogn<span class="_ _1"/>ised<span class="_ _1"/> as<span class="_ _1"/> A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler - Maersk’<span class="_ _0"/>s share of the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">equity <span class="_ _2"/>value inclusive of goodwil<span class="_ _2"/>l less any impairment<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">losses.<span class="_ _2"/> Goodwill is an inte<span class="_ _2"/>gral part<span class="_ _2"/> of the <span class="_ _2"/>value of associ-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ated companies and joint<span class="_ _2"/> ventur<span class="_ _2"/>es and is ther<span class="_ _2"/>efor<span class="_ _2"/>e sub-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ject to an impairment test<span class="_ _2"/> tog<span class="_ _2"/>ether with the investment.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses ar<span class="_ _2"/>e rev<span class="_ _2"/>ersed to <span class="_ _2"/>the extent<span class="_ _2"/> the original </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value is consider<span class="_ _2"/>ed recov<span class="_ _2"/>erable.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Equity instrumen<span class="_ _2"/>ts etc., including shar<span class="_ _2"/>es,<span class="_ _2"/> bonds <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and similar<span class="_ _2"/> securities, ar<span class="_ _2"/>e rec<span class="_ _2"/>ognised on the <span class="_ _2"/>tr<span class="_ _2"/>ading <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">date at<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue,<span class="_ _2"/> and subsequently measur<span class="_ _2"/>ed at <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">quoted mark<span class="_ _2"/>et price for<span class="_ _0"/> listed securities and at esti<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mated <span class="_ _1"/>fair<span class="_ _2"/> v<span class="_ _2"/>alue for<span class="_ _2"/> non-listed securities.<span class="_ _2"/> F<span class="_ _2"/>air <span class="_ _2"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">adju<span class="_ _2"/>stmen<span class="_ _2"/>ts fr<span class="_ _2"/>om equity in<span class="_ _2"/>vestments at f<span class="_ _2"/>air<span class="_ _2"/> value<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">through other<span class="_ _2"/> compr<span class="_ _2"/>ehensive income (FVOCI) r<span class="_ _2"/>emain <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equ<span class="_ _2"/>ity u<span class="_ _2"/>pon disposal.<span class="_ _2"/> Dividends are r<span class="_ _2"/>ecognised in<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statemen<span class="_ _2"/>t.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Invent<span class="_ _2"/>ories mainly consist<span class="_ _2"/> of bunk<span class="_ _2"/>er<span class="_ _0"/>, spare parts not<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">qualifying for<span class="_ _2"/> property<span class="_ _0"/>, plant<span class="_ _2"/> and equipment, and other<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cons<span class="_ _1"/>umab<span class="_ _1"/>les. Inventories ar<span class="_ _2"/>e measured at<span class="_ _2"/> the lower<span class="_ _0"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost and net<span class="_ _2"/> realisable <span class="_ _2"/>value,<span class="_ _2"/> primarily<span class="_ _2"/> according <span class="_ _2"/>to the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">FIFO method.<span class="_ _2"/> The cost<span class="_ _2"/> of finished goods and work in<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">progress includes dir<span class="_ _2"/>ect and indir<span class="_ _2"/>ect pr<span class="_ _2"/>oduction costs.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Invent<span class="_ _2"/>ories mainly consist<span class="_ _2"/> of bunk<span class="_ _2"/>er<span class="_ _0"/>, spare parts not<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">qualifying for<span class="_ _2"/> property<span class="_ _0"/>, plant<span class="_ _2"/> and equipment, and other<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cons<span class="_ _1"/>umab<span class="_ _1"/>les. Inventories ar<span class="_ _2"/>e measured at<span class="_ _2"/> the lower<span class="_ _0"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost and net<span class="_ _2"/> realisable <span class="_ _2"/>value,<span class="_ _2"/> primarily<span class="_ _2"/> according <span class="_ _2"/>to the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">FIFO method.<span class="_ _2"/> The cost<span class="_ _2"/> of finished goods and work in<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">progress includes dir<span class="_ _2"/>ect and indir<span class="_ _2"/>ect pr<span class="_ _2"/>oduction costs.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Loans and receiv<span class="_ _2"/>ables are initiall<span class="_ _2"/>y r<span class="_ _2"/>ecognised at<span class="_ _2"/> fair<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value,<span class="_ _2"/> plus any<span class="_ _2"/> direct<span class="_ _2"/> tr<span class="_ _2"/>ansaction costs,<span class="_ _2"/> and subsequently<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">measured at<span class="_ _2"/> amortised cost using <span class="_ _2"/>the effective int<span class="_ _2"/>erest </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">method. For<span class="_ _0"/> loans and other rec<span class="_ _2"/>eivables,<span class="_ _2"/> write-downs ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">made for<span class="_ _2"/> expected losses based on specific individual or<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">group assessments<span class="_ _2"/>. For<span class="_ _0"/> trade r<span class="_ _2"/>eceivables,<span class="_ _2"/> the loss al<span class="_ _2"/>low-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ance is measured by<span class="_ _2"/> the simplified appr<span class="_ _2"/>oach accor<span class="_ _2"/>ding </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to IFRS 9<span class="_ _2"/>, appl<span class="_ _2"/>ying a provision<span class="_ _2"/> matrix to calculat<span class="_ _2"/>e the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">expected lifetime losses<span class="_ _2"/>. <span class="_ _2"/>The pro<span class="_ _2"/>vision matrix includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">an impairment f<span class="_ _2"/>or<span class="_ _2"/> non-due receiv<span class="_ _2"/>ables.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:64.953125px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 557.08px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Contract<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> balances<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 367.734px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 557.004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ade receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables from r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>evenue fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om contr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>acts with customers<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 156.24px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,533<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,508</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Accrued income – contr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>act asset<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 307.98px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>192<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>263</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Deferr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed income – contract<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> liability <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 299.074px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>47<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>45</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Accrued income included in tr<span class="_ _2"/>ade r<span class="_ _2"/>eceivables in <span class="_ _2"/>the balance sheet constitutes con<span class="_ _2"/>tract<span class="_ _2"/> assets comprising unbilled </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amounts t<span class="_ _2"/>o customers repr<span class="_ _2"/>esenting the Gr<span class="_ _2"/>oup’<span class="_ _2"/>s right <span class="_ _2"/>to considera<span class="_ _2"/>tion for<span class="_ _2"/> the services <span class="_ _2"/>tr<span class="_ _2"/>ansferred <span class="_ _2"/>to date<span class="_ _2"/>. <span class="_ _2"/>Any amoun<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">previousl<span class="_ _2"/>y r<span class="_ _2"/>ecognised as accrued income is r<span class="_ _2"/>eclassified to <span class="_ _2"/>trade r<span class="_ _2"/>eceivables at<span class="_ _2"/> the <span class="_ _2"/>time the service is complet<span class="_ _2"/>ed. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deferred income is r<span class="_ _2"/>ecognised in <span class="_ _2"/>the income statement<span class="_ _2"/> within 12 months.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Under<span class="_ _2"/> the payment<span class="_ _2"/> terms g<span class="_ _2"/>eneral<span class="_ _2"/>ly applicable <span class="_ _2"/>to the Gr<span class="_ _2"/>oup’<span class="_ _2"/>s rev<span class="_ _2"/>enue-genera<span class="_ _2"/>ting activities, pr<span class="_ _2"/>epayments ar<span class="_ _2"/>e received </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">only <span class="_ _2"/>to a limit<span class="_ _2"/>ed extent.<span class="_ _2"/> T<span class="_ _2"/>ypicall<span class="_ _2"/>y<span class="_ _2"/>,<span class="_ _2"/> payment is due upon<span class="_ _2"/> or aft<span class="_ _2"/>er<span class="_ _2"/> completion of the services<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Part of <span class="_ _2"/>the deferr<span class="_ _2"/>ed income presented in<span class="_ _2"/> the balance sheet<span class="_ _2"/> constitutes contr<span class="_ _2"/>act liabilities which<span class="_ _2"/> represen<span class="_ _2"/>t advance </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments and billings in<span class="_ _2"/> excess of re<span class="_ _2"/>venue reco<span class="_ _2"/>gnised.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">There w<span class="_ _2"/>ere no significant<span class="_ _2"/> changes in accrued income and deferr<span class="_ _2"/>ed income during the r<span class="_ _2"/>eporting period.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses disclosed in not<span class="_ _2"/>e 4.5 rela<span class="_ _2"/>te t<span class="_ _2"/>o receivables arising fr<span class="_ _2"/>om contr<span class="_ _2"/>acts with cust<span class="_ _2"/>omers.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Loans and receiv<span class="_ _2"/>ables are initiall<span class="_ _2"/>y r<span class="_ _2"/>ecognised at<span class="_ _2"/> fair<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value,<span class="_ _2"/> plus any<span class="_ _2"/> direct<span class="_ _2"/> tr<span class="_ _2"/>ansaction costs,<span class="_ _2"/> and subsequently<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">measured at<span class="_ _2"/> amortised cost using <span class="_ _2"/>the effective int<span class="_ _2"/>erest </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">method. For<span class="_ _0"/> loans and other rec<span class="_ _2"/>eivables,<span class="_ _2"/> write-downs ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">made for<span class="_ _2"/> expected losses based on specific individual or<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">group assessments<span class="_ _2"/>. For<span class="_ _0"/> trade r<span class="_ _2"/>eceivables,<span class="_ _2"/> the loss al<span class="_ _2"/>low-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ance is measured by<span class="_ _2"/> the simplified appr<span class="_ _2"/>oach accor<span class="_ _2"/>ding </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to IFRS 9<span class="_ _2"/>, appl<span class="_ _2"/>ying a provision<span class="_ _2"/> matrix to calculat<span class="_ _2"/>e the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">expected lifetime losses<span class="_ _2"/>. <span class="_ _2"/>The pro<span class="_ _2"/>vision matrix includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">an impairment f<span class="_ _2"/>or<span class="_ _2"/> non-due receiv<span class="_ _2"/>ables.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 1.2 <span class="_ _18f"> </span> <span class="_"> </span>Significan<span class="_ _2"/>t accoun<span class="_ _2"/>ting estimat<span class="_ _2"/>es and judgements</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The prepar<span class="_ _2"/>ation of <span class="_ _2"/>the consolidated financial statemen<span class="_ _2"/>ts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">requir<span class="_ _2"/>es Management <span class="_ _2"/>to mak<span class="_ _2"/>e estimates and judge<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments on an ongoing basis<span class="_ _2"/>, and <span class="_ _2"/>to form assumptions<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">that af<span class="_ _1"/>fect the reported amounts<span class="_ _2"/>. Managemen<span class="_ _2"/>t forms its </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">esti<span class="_ _2"/>mat<span class="_ _2"/>es and judgemen<span class="_ _2"/>ts based on historical experience,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">independent advice<span class="_ _2"/>, ext<span class="_ _2"/>ernal data points as wel<span class="_ _2"/>l as on <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in-house specialists and other<span class="_ _2"/> factors believed <span class="_ _2"/>to be <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reasonable under<span class="_ _2"/> <span class="_ _2"/>the circumstances.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>In its assumption setting,<span class="_ _2"/> Management deals <span class="_ _2"/>with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">various aspects of uncertainty<span class="_ _0"/>. One aspect of unc<span class="_ _2"/>ertainty </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is the assessment<span class="_ _2"/> of contr<span class="_ _2"/>ol over<span class="_ _2"/> investments classified </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as associates,<span class="_ _2"/> joint<span class="_ _2"/> ventur<span class="_ _2"/>es and subsidiaries,<span class="_ _2"/> where <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assessment f<span class="_ _2"/>orms the basis for<span class="_ _0"/> classification. <span class="_ _2"/>Another<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">aspect is measur<span class="_ _2"/>ement uncertainty<span class="_ _0"/>, wher<span class="_ _2"/>e Management<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">makes assumptions <span class="_ _2"/>that deriv<span class="_ _2"/>e the v<span class="_ _2"/>alue of reco<span class="_ _2"/>gnised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets and liabilities.<span class="_ _2"/> These assumptions concern<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">timing and amount of future cash flows as <span class="_ _2"/>well as <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">risks inherent<span class="_ _2"/> in these<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In certain ar<span class="_ _2"/>eas, <span class="_ _2"/>the outcome of business plans<span class="_ _2"/>, including </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ongoing negotiations <span class="_ _2"/>with external parties <span class="_ _2"/>to execute<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">those plans or<span class="_ _2"/> the outcome of ne<span class="_ _2"/>gotiations t<span class="_ _2"/>o settle </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">claims that<span class="_ _2"/> are r<span class="_ _2"/>aised against <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _0"/> - Maersk, is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">highly uncertain.<span class="_ _2"/> <span class="_ _2"/>Theref<span class="_ _2"/>ore,<span class="_ _2"/> assumptions may<span class="_ _2"/> change,<span class="_ _2"/> or<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the outcome may<span class="_ _2"/> differ<span class="_ _2"/> in the coming <span class="_ _2"/>years,<span class="_ _2"/> which could </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">requir<span class="_ _2"/>e a material upw<span class="_ _2"/>ard or<span class="_ _2"/> downw<span class="_ _2"/>ard adjustment<span class="_ _2"/> t<span class="_ _2"/>o </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the carrying amounts of assets and liabilities.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The areas – and <span class="_ _2"/>their<span class="_ _2"/> relat<span class="_ _2"/>ed impact – in which<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk is particularly<span class="_ _2"/> exposed to ma<span class="_ _2"/>terial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">uncertainty o<span class="_ _2"/>ver<span class="_ _2"/> the carrying amounts as at<span class="_ _2"/> the end of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2023 are included in <span class="_ _2"/>the individual notes as outlined </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">below:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:195.203125px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 511.582px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Note<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.4961px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>Key<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> accounting estimates and judg<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ements<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 203.994px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Estima<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>te / </span></span><span style="position: absolute; display: inline-block; left: 527.25px; top: 0.0136718px; width: 33.7383px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Impact</span><span style="position: absolute; display: inline-block; left: 459.438px; top: 12.0137px; width: 54.3223px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Judgement</span><span style="position: absolute; display: inline-block; left: 0px; top: 36.6855px; width: 500.807px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Note 2.2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 11.5196px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>essel sharing agreements (cost<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-sharing arrangements) estimates<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 95.3906px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Estimate</span><span style="position: absolute; display: inline-block; left: 0px; top: 61.3574px; width: 512.285px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Note 3.1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 11.5196px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Cash-gener<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ating unit det<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ermination<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 238.213px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Judgement</span><span style="position: absolute; display: inline-block; left: 0px; top: 86.0293px; width: 501.223px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Note 3.1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 11.5196px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Impairment <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>testing ke<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>y assumptions <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 232.588px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Estimate</span><span style="position: absolute; display: inline-block; left: 0px; top: 110.701px; width: 501.158px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Note 3.2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 11.5196px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Useful life and residual <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>value estimat<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>es<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 221.818px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Estimate</span><span style="position: absolute; display: inline-block; left: 0px; top: 135.373px; width: 501.17px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Note 3.7<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 11.5196px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Provisions f<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>or<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> legal disputes assumptions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 211.699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Estimate</span><span style="position: absolute; display: inline-block; left: 0px; top: 160.045px; width: 501.182px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Note 5.1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 11.5196px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Recognition and measur<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ement of def<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erred <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tax assets and uncertain tax positions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Estimate</span><span style="position: absolute; display: inline-block; left: 0px; top: 184.717px; width: 512.209px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Note 5.5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 11.5196px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Operations in<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> countries with limited ac<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>cess to r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>epatriating surplus cash assumptions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 11.5196px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Judg<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ement</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level of pot<span class="_ _2"/>ential impact <span class="_ _2"/>to the consolidated financial sta<span class="_ _2"/>tements:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Low</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Medium</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">High</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">V<span class="_ _2"/>essel-sharing agreements (cost<span class="_ _0"/>-sharing arrangements)</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">V<span class="_ _2"/>essel-sharing agreements in<span class="_ _2"/> shipping requir<span class="_ _2"/>e that<span class="_ _2"/> some </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vessels are committ<span class="_ _2"/>ed tow<span class="_ _2"/>ards specific service r<span class="_ _2"/>outes.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The committed v<span class="_ _2"/>essel’<span class="_ _2"/>s capacity<span class="_ _2"/> is then shar<span class="_ _2"/>ed with one </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _2"/> more container<span class="_ _2"/> shipping pr<span class="_ _2"/>oviders in proportion<span class="_ _2"/> to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">each party’<span class="_ _2"/>s contribution t<span class="_ _2"/>o the joint<span class="_ _2"/> service.<span class="_ _2"/> In practic<span class="_ _2"/>e, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">it is not<span class="_ _2"/> alway<span class="_ _2"/>s possible to pr<span class="_ _2"/>ovide t<span class="_ _2"/>onnage precisel<span class="_ _2"/>y as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">agreed in <span class="_ _2"/>the sharing arrang<span class="_ _2"/>ements,<span class="_ _2"/> ther<span class="_ _2"/>efore financial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">settlement oft<span class="_ _2"/>en tak<span class="_ _2"/>es place on the basis of r<span class="_ _2"/>elative <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">capacity ov<span class="_ _2"/>er/<span class="_ _0"/>under-utilised on a monthly<span class="_ _2"/> basis or<span class="_ _2"/> other<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mutually<span class="_ _2"/> agreed cycle.<span class="_ _2"/> A<span class="_ _2"/>t <span class="_ _2"/>A.P<span class="_ _4"/>. M<span class="_ _2"/>oll<span class="_ _2"/>er<span class="_ _2"/> - Ma<span class="_ _2"/>ersk,<span class="_ _2"/> these<span class="_ _2"/> <span class="ls0 ws0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">capacity adjustments ar<span class="_ _2"/>e settled as close to actual costs </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">incurred as possible based on mark<span class="_ _2"/>et r<span class="_ _2"/>ates applicable<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">at that<span class="_ _2"/> time.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Significant accounting judg<span class="_ _2"/>ements</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Determination of<span class="_ _2"/> cash-generating units</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Judgement is applied in<span class="_ _2"/> the determination<span class="_ _2"/> of cash- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gener<span class="_ _2"/>ating units to <span class="_ _2"/>which goodwill is alloca<span class="_ _2"/>ted for<span class="_ _2"/> impair-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment <span class="_ _2"/>testing and in <span class="_ _2"/>the selection of methodologies and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assumptions applied in impairment <span class="_ _2"/>tests.<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The determination of cash-gener<span class="_ _2"/>ating units diff<span class="_ _2"/>ers </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on the business ar<span class="_ _2"/>ea. Oc<span class="_ _2"/>ean opera<span class="_ _2"/>tes its fleet of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">container<span class="_ _2"/> vessels and hub <span class="_ _2"/>terminals in an in<span class="_ _2"/>tegr<span class="_ _2"/>ated <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">net <span class="_ _4"/>work. Consequently<span class="_ _0"/>, the Oc<span class="_ _2"/>ean activities are <span class="_ _2"/>tested </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _2"/> impairment as a<span class="_ _2"/> single cash-genera<span class="_ _2"/>ting unit. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Logistics &amp; Services,<span class="_ _2"/> including intermodal activities,<span class="_ _2"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considered a single cash-g<span class="_ _2"/>enerating unit.<span class="_ _2"/> Management<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">views the Lo<span class="_ _2"/>gistics &amp; Services products as an int<span class="_ _2"/>egr<span class="_ _2"/>ated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">network, <span class="_ _2"/>with the activities <span class="_ _2"/>tested for<span class="_ _0"/> impairment as a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">single cash-gener<span class="_ _2"/>ating unit. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In <span class="_ _2"/>T<span class="_ _0"/>erminals, each <span class="_ _2"/>terminal is considered an<span class="_ _2"/> individual </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash-gener<span class="_ _2"/>ating unit for<span class="_ _0"/> impairment tests<span class="_ _2"/>, exc<span class="_ _2"/>ept when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the capacity is managed as a portf<span class="_ _2"/>olio.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>T<span class="_ _0"/>owage &amp; Maritime Services includes <span class="_ _2"/>towage activi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ties made up of two separ<span class="_ _2"/>ate cash-gener<span class="_ _0"/>ating units as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">well as sever<span class="_ _2"/>al individual businesses,<span class="_ _2"/> including Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Container<span class="_ _2"/> Industry<span class="_ _2"/>,<span class="_ _2"/> which are each<span class="_ _2"/> considered one </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash-gener<span class="_ _2"/>ating unit.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Significant accounting estima<span class="_ _2"/>tes</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _2"/>– assessment inputs</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The recov<span class="_ _2"/>erable amount<span class="_ _2"/> of each cash-gener<span class="_ _2"/>ating unit<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is determined based on <span class="_ _2"/>the higher of its <span class="_ _2"/>value in use and<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _2"/> v<span class="_ _2"/>alue less costs to sel<span class="_ _2"/>l. <span class="_ _2"/>The estimated <span class="_ _2"/>value in use<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is calculated using certain k<span class="_ _2"/>ey as<span class="_ _2"/>sumptions for<span class="_ _2"/> the ex<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pected future cash<span class="_ _2"/> flows and applied discount f<span class="_ _2"/>actor<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Curren<span class="_ _2"/>t mark<span class="_ _2"/>et v<span class="_ _2"/>alues for<span class="_ _2"/> v<span class="_ _2"/>essels,<span class="_ _2"/> etc., ar<span class="_ _2"/>e estimated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">using acknowledged brok<span class="_ _2"/>ers.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The cash flow pr<span class="_ _2"/>ojections are based on financial<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">budgets and business plans.<span class="_ _2"/> In natur<span class="_ _2"/>e, <span class="_ _2"/>these projections<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are subject<span class="_ _2"/> to judgemen<span class="_ _2"/>t and estimates <span class="_ _2"/>that ar<span class="_ _2"/>e uncer<span class="_ _2"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tain, <span class="_ _2"/>though based on experience and ext<span class="_ _2"/>ernal sources </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">where av<span class="_ _2"/>ailable.<span class="_ _2"/> Centralised pr<span class="_ _2"/>ocesses and invol<span class="_ _2"/>vement<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of corpor<span class="_ _2"/>ate functions ensure <span class="_ _2"/>that indices and da<span class="_ _2"/>ta </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sources ar<span class="_ _2"/>e selected consistentl<span class="_ _2"/>y while observing diff<span class="_ _2"/>er<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ences in risks and other<span class="_ _2"/> circumstances<span class="_ _2"/>.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The discount r<span class="_ _2"/>ates applied r<span class="_ _2"/>eflect <span class="_ _2"/>the time <span class="_ _2"/>value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">money as <span class="_ _2"/>well as the specific risks r<span class="_ _2"/>elated <span class="_ _2"/>to the under<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lying cash flows<span class="_ _2"/>, i.e<span class="_ _2"/>., pr<span class="_ _2"/>oject and/<span class="_ _0"/>or country<span class="_ _2"/>-specific risk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">premium.<span class="_ _2"/> Further<span class="_ _0"/>, any<span class="_ _2"/> uncertainties r<span class="_ _2"/>eflecting past per<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">formance and possible <span class="_ _2"/>variations in <span class="_ _2"/>the amount or<span class="_ _2"/> <span class="_ _2"/>timing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the pr<span class="_ _2"/>ojected cash flows ar<span class="_ _2"/>e gener<span class="_ _2"/>ally<span class="_ _2"/> reflected in <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discount r<span class="_ _2"/>ates<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _2"/>– key<span class="_ _2"/> assumptions applied </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The outcome of impairment<span class="_ _2"/> tests is subject<span class="_ _2"/> to estima<span class="_ _2"/>tes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the futur<span class="_ _2"/>e development<span class="_ _2"/> of freight<span class="_ _2"/> rat<span class="_ _2"/>es and volumes,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">oil prices and the discount<span class="_ _2"/> r<span class="_ _2"/>ates applied.<span class="_ _2"/> Management </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">determines these k<span class="_ _2"/>ey<span class="_ _2"/> assumptions by considering past<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">experience as wel<span class="_ _2"/>l as market<span class="_ _2"/> analysis and futur<span class="_ _2"/>e expec<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tations based on supply<span class="_ _2"/> and demand tr<span class="_ _2"/>ends.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Further<span class="_ _0"/>, <span class="_ _2"/>the value in use calcula<span class="_ _2"/>tion is highly sensitiv<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the <span class="_ _2"/>terminal gr<span class="_ _2"/>owth ra<span class="_ _2"/>te,<span class="_ _2"/> which is determined based on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the future expect<span class="_ _2"/>ed economic growth r<span class="_ _2"/>ate<span class="_ _2"/>, and r<span class="_ _2"/>eplace-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment CAPEX during <span class="_ _2"/>the terminal period,<span class="_ _2"/> which is det<span class="_ _2"/>er-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mined based on Management’<span class="_ _2"/>s plans and expectations </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _2"/> the future.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The future development<span class="_ _2"/> in fr<span class="_ _2"/>eight r<span class="_ _2"/>ates is a significant<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">factor<span class="_ _2"/> impacting <span class="_ _2"/>the Ocean segment<span class="_ _2"/> in particular<span class="_ _2"/> and is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">influenced by r<span class="_ _2"/>egional and global economic envir<span class="_ _2"/>onments,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trade pa<span class="_ _2"/>tterns,<span class="_ _2"/> and by industry<span class="_ _2"/>-specific tr<span class="_ _2"/>ends in r<span class="_ _2"/>espect </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of capacity suppl<span class="_ _2"/>y and demand.<span class="_ _2"/> Freight<span class="_ _2"/> rat<span class="_ _2"/>es have dete-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">riora<span class="_ _2"/>ted thr<span class="_ _2"/>oughout 2023 as a r<span class="_ _2"/>esult of <span class="_ _2"/>the pronounced </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market<span class="_ _2"/> normalisation and are e<span class="_ _2"/>xpected t<span class="_ _2"/>o face continued </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pressur<span class="_ _2"/>e for<span class="_ _2"/> the next<span class="_ _2"/> 1-2 y<span class="_ _2"/>ears. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The future dev<span class="_ _2"/>elopment of oil prices is also uncertain </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and is a significant f<span class="_ _2"/>actor<span class="_ _2"/> impacting accounting estimates </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">across <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk,<span class="_ _2"/> either<span class="_ _2"/> directly<span class="_ _2"/> or<span class="_ _2"/> indirectly<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ocean is directl<span class="_ _2"/>y impacted b<span class="_ _2"/>y the bunk<span class="_ _2"/>er<span class="_ _2"/> oil price,<span class="_ _2"/> wher<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the competitive landscape determines <span class="_ _2"/>the extent<span class="_ _2"/> to which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the development<span class="_ _2"/> is reflected in<span class="_ _2"/> the freight<span class="_ _2"/> r<span class="_ _2"/>ates charg<span class="_ _2"/>ed to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the customer<span class="_ _0"/>. Bunk<span class="_ _2"/>er<span class="_ _2"/> consumption is expected <span class="_ _2"/>to continue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to decline compared <span class="_ _2"/>to 2023<span class="_ _2"/>, driv<span class="_ _2"/>en by fleet<span class="_ _2"/> outsourcing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and efficiency impr<span class="_ _2"/>ovements.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Logistics &amp; Services is impacted by<span class="_ _2"/> ra<span class="_ _2"/>tes and volumes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">across <span class="_ _2"/>the Logistics &amp; Services product<span class="_ _2"/> lines,<span class="_ _2"/> particularly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the air<span class="_ _0"/> and haulage business. <span class="_ _2"/>The future gr<span class="_ _2"/>owth and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">productivity<span class="_ _2"/> of the Ful<span class="_ _2"/>filled by Maersk pr<span class="_ _2"/>oduct r<span class="_ _2"/>ange is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">also considered a k<span class="_ _2"/>ey<span class="_ _2"/> assumption as volumes ar<span class="_ _2"/>e sensitive </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the de<span class="_ _2"/>velopment of <span class="_ _2"/>the global economy<span class="_ _0"/>. Management </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considers both the futur<span class="_ _2"/>e economic outlook in k<span class="_ _2"/>ey r<span class="_ _2"/>egions,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">namely North<span class="_ _2"/> America and Eur<span class="_ _2"/>ope,<span class="_ _2"/> as well as e<span class="_ _2"/>xpected </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">synergies fr<span class="_ _2"/>om completed acquisitions <span class="_ _2"/>when determining </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the growth and pr<span class="_ _2"/>oductivity of F<span class="_ _2"/>ulfilled by<span class="_ _2"/> Maersk. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>T<span class="_ _0"/>erminals located in oil-producing coun<span class="_ _2"/>tries, e<span class="_ _2"/>.g., </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Nigeria and Br<span class="_ _2"/>azil, ar<span class="_ _2"/>e indirectl<span class="_ _2"/>y impacted by<span class="_ _2"/> the de<span class="_ _2"/>velop-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment in oil pric<span class="_ _2"/>es and the consequences for<span class="_ _0"/> the respective </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">countries’<span class="_ _0"/> economies, <span class="_ _2"/>which not only<span class="_ _2"/> affects <span class="_ _2"/>volumes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">handled in the <span class="_ _2"/>terminals,<span class="_ _2"/> but also f<span class="_ _2"/>oreign ex<span class="_ _2"/>change rat<span class="_ _2"/>es.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Continued economic deterior<span class="_ _2"/>ation and a lack of cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">repatriation<span class="_ _2"/> opportunities in certain oil-producing c<span class="_ _2"/>oun-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tries could also put pr<span class="_ _2"/>essure on <span class="_ _2"/>the carrying amounts of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">individual terminals<span class="_ _2"/>. <span class="_ _2"/>The other<span class="_ _2"/> ke<span class="_ _2"/>y sensitivities impacting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>erminals include container mo<span class="_ _2"/>ves,<span class="_ _2"/> rev<span class="_ _2"/>enue and cost per<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">move,<span class="_ _2"/> and local port r<span class="_ _2"/>ates<span class="_ _2"/>, al<span class="_ _2"/>l of which are impact<span class="_ _2"/>ed by </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the local economic outlook and competition,<span class="_ _2"/> as well as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">concession right<span class="_ _2"/> extensions and the discoun<span class="_ _2"/>t r<span class="_ _2"/>ate applied.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Inflation is also expected <span class="_ _2"/>to continue <span class="_ _2"/>to have a high </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impact acr<span class="_ _2"/>oss A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler - Maersk in<span class="_ _2"/> 2024,<span class="_ _2"/> impacting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">both the discoun<span class="_ _2"/>t r<span class="_ _2"/>ate and t<span class="_ _2"/>erminal growth r<span class="_ _2"/>ates<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _2"/>– results of<span class="_ _2"/> impairment assessments</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Ocean cash flow pr<span class="_ _2"/>ojection is based on the f<span class="_ _2"/>orecast<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as per<span class="_ _2"/> Q3 2023,<span class="_ _2"/> covering <span class="_ _2"/>the five-<span class="_ _2"/>year<span class="_ _2"/> business plan for<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2024-28<span class="_ _2"/>. Manag<span class="_ _2"/>ement applied an assumption<span class="_ _2"/> of growth </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in volumes based on<span class="_ _2"/> a calculated <span class="_ _2"/>terminal v<span class="_ _2"/>alue with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">growth equal <span class="_ _2"/>to 2.<span class="_ _2"/>7% (2.5%) p.a.<span class="_ _2"/> In the annual impairmen<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">test carried out<span class="_ _2"/> in November<span class="_ _0"/> 2023, a pr<span class="_ _2"/>e-<span class="_ _2"/>tax discount </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _2"/>te of 9.8% (9<span class="_ _2"/>.2%) p.a.<span class="_ _2"/> w<span class="_ _2"/>as applied. <span class="_ _2"/>The impairment <span class="_ _2"/>test </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">showed headroom<span class="_ _2"/> between the <span class="_ _2"/>value in use and <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">carrying amount.<span class="_ _2"/> The major<span class="_ _2"/> part o<span class="_ _2"/>f the carrying amount<span class="_ _2"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprised of vessels<span class="_ _2"/>. Manag<span class="_ _2"/>ement is of <span class="_ _2"/>the opinion that<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the assumptions applied are sustainable.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The Group’<span class="_ _0"/>s most significant goodwill c<span class="_ _2"/>omponent </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">relat<span class="_ _2"/>es to <span class="_ _2"/>the Logistics &amp; Services segment.<span class="_ _2"/> <span class="_ _2"/>The annual </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment <span class="_ _2"/>test is based on<span class="_ _2"/> the estimated <span class="_ _2"/>value in use<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">from <span class="_ _2"/>the five-<span class="_ _2"/>year<span class="_ _2"/> business plan for<span class="_ _2"/> 202<span class="_ _2"/>4-28,<span class="_ _2"/> wher<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the volume and impr<span class="_ _2"/>oved mar<span class="_ _2"/>gin growth assumptions<span class="_ _2"/>,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which are r<span class="_ _2"/>egion-specific,<span class="_ _2"/> reflect<span class="_ _2"/> the curr<span class="_ _2"/>ent expec<span class="_ _0"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tations for<span class="_ _2"/> the r<span class="_ _2"/>elevan<span class="_ _2"/>t period.<span class="_ _2"/> The applied <span class="_ _2"/>terminal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">growth is 2.<span class="_ _0"/>7% (2.0%). <span class="_ _2"/>A discount<span class="_ _2"/> ra<span class="_ _2"/>te of 9<span class="_ _2"/>.0% (8.4%) p<span class="_ _2"/>.a. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">befor<span class="_ _2"/>e tax or<span class="_ _2"/> 8<span class="_ _2"/>.8% (8.2%) p.a.<span class="_ _2"/> after<span class="_ _2"/> <span class="_ _2"/>tax was applied.<span class="_ _2"/> The<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impa<span class="_ _1"/>irment test<span class="_ _2"/> showed headr<span class="_ _2"/>oom from <span class="_ _2"/>the v<span class="_ _2"/>alue in use </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the carrying amoun<span class="_ _2"/>t. Management<span class="_ _2"/> is of the opinion<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tha<span class="_ _2"/>t <span class="_ _2"/>the <span class="_ _2"/>assumptions applied are sustainable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>In <span class="_ _2"/>T<span class="_ _0"/>erminals, Managemen<span class="_ _2"/>t assesses indicators o<span class="_ _2"/>f </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment including decr<span class="_ _2"/>easing volumes and based on<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">these indicators,<span class="_ _2"/> estimates <span class="_ _2"/>the recov<span class="_ _2"/>erable amounts<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the individual <span class="_ _2"/>terminals wher<span class="_ _2"/>eby impairment<span class="_ _2"/> indi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cators exist.<span class="_ _2"/> Management<span class="_ _2"/> also tests f<span class="_ _2"/>or impairmen<span class="_ _2"/>t of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the CGUs to <span class="_ _2"/>which goodwill or<span class="_ _2"/> indefinite lif<span class="_ _2"/>e intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets are al<span class="_ _2"/>located.<span class="_ _2"/> The cash flow pr<span class="_ _2"/>ojections for<span class="_ _2"/> each </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">terminal cover<span class="_ _0"/> the concession period and extension<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">options deemed likel<span class="_ _2"/>y t<span class="_ _2"/>o be exercised.<span class="_ _2"/> <span class="_ _2"/>The growth<span class="_ _2"/> rat<span class="_ _2"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assumed reflect<span class="_ _2"/> current<span class="_ _2"/> market<span class="_ _2"/> expectations for<span class="_ _0"/> the rel<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">evant<span class="_ _2"/> period, and <span class="_ _2"/>the discount<span class="_ _2"/> rat<span class="_ _2"/>es applied are between<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">7<span class="_ _0"/>.4% and 12.<span class="_ _0"/>1% (7<span class="_ _0"/>.2% and 13.0%) p.a.<span class="_ _2"/> after<span class="_ _0"/> tax. <span class="_ _2"/>The im<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pairment <span class="_ _2"/>tests considered f<span class="_ _2"/>air<span class="_ _2"/> value les<span class="_ _2"/>s cost of disposal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">compared <span class="_ _2"/>to the carrying amount<span class="_ _2"/> and resul<span class="_ _2"/>ted in im<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pairment losses of USD<span class="_ _2"/> 134m across mul<span class="_ _2"/>tiple terminals<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in 2023<span class="_ _2"/>, of which<span class="_ _2"/> USD 94m rela<span class="_ _2"/>tes to a<span class="_ _2"/> CGU in the Medi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">terr<span class="_ _2"/>anean, caused by<span class="_ _2"/> lower<span class="_ _2"/>-than-e<span class="_ _2"/>xpected volumes<span class="_ _2"/>, and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is primarily r<span class="_ _2"/>elated <span class="_ _2"/>to equipment.<span class="_ _2"/> Impairment losses of<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">an immaterial amount<span class="_ _2"/> across <span class="_ _2"/>two t<span class="_ _2"/>erminals was r<span class="_ _2"/>ecog<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nise<span class="_ _1"/>d in<span class="_ _1"/> 202<span class="_ _1"/>2 as<span class="_ _1"/> well <span class="_ _1"/>as USD 350m on <span class="_ _2"/>T<span class="_ _0"/>erminals’<span class="_ _0"/> minority </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">stake in Global P<span class="_ _2"/>orts Investments (GPI),<span class="_ _2"/> which w<span class="_ _2"/>as sold in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2022. For<span class="_ _0"/> more information on f<span class="_ _2"/>air <span class="_ _2"/>value det<span class="_ _2"/>ermination, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ref<span class="_ _2"/>er <span class="_ _2"/>to Note 4<span class="_ _2"/>.6 Financial instruments by ca<span class="_ _2"/>tegory<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _2"/>– key<span class="_ _2"/> assumptions sensitivity</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Using the discount<span class="_ _2"/> ra<span class="_ _2"/>te as of 31 December<span class="_ _2"/> 2023 and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">keeping al<span class="_ _2"/>l other assumptions c<span class="_ _2"/>onstant, <span class="_ _2"/>the Ocean CGU </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">showed headroom<span class="_ _2"/> of USD 3<span class="_ _2"/>.9bn betw<span class="_ _2"/>een the <span class="_ _2"/>value in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">use and the carrying amount.<span class="_ _2"/> <span class="_ _2"/>The following changes<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in assumptions reflect<span class="_ _2"/> the r<span class="_ _2"/>elated impact<span class="_ _2"/> on the <span class="_ _2"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in use and thus <span class="_ _2"/>the headroom f<span class="_ _2"/>or<span class="_ _2"/> the Ocean C<span class="_ _2"/>GU<span class="_ _2"/>.<span class="_ _2"/> <span class="_ _2"/>The </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sensitivities are pr<span class="_ _2"/>epared with<span class="_ _2"/> all other<span class="_ _2"/> assumptions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">kept constant.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:54.75px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 557.203px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">K<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ey Ocean CGU assumption<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 158.039px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Assumption<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Change<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 14.6074px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Effect<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> on <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>value in use</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 23.8418px; width: 557.156px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Growth in<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> terminal period<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.306px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2.7%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7949px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>+/<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>- 0.5 ppts<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.3886px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD 2.9bn</span><span style="position: absolute; display: inline-block; left: 0px; top: 44.2637px; width: 556.869px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Discount r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate p.a. bef<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ore <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tax as of 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9.2%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>+/- 0.5 ppts<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD 3.4bn</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Useful life and residual <span class="_ _2"/>values</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Useful lives are estima<span class="_ _2"/>ted based on experience.<span class="_ _2"/> When<span class="_ _2"/> an </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">asset’<span class="_ _2"/>s useful life changes,<span class="_ _2"/> Management<span class="_ _2"/> revises <span class="_ _2"/>the esti<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mates for<span class="_ _0"/> individual assets or groups of assets <span class="_ _2"/>with similar<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">charact<span class="_ _2"/>eristics due to f<span class="_ _2"/>actors such as quality of main<span class="_ _2"/>te<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nance and repair<span class="_ _0"/>, <span class="_ _2"/>technical developmen<span class="_ _2"/>t, or<span class="_ _2"/> envir<span class="_ _2"/>onmen-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tal requir<span class="_ _2"/>ements.<span class="_ _2"/> Management has als<span class="_ _1"/>o co<span class="_ _1"/>nsid<span class="_ _1"/>ered the<span class="_ _1"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impact of decarbonisation and c<span class="_ _2"/>limate<span class="_ _2"/>- <span class="_ _4"/>relat<span class="_ _2"/>ed risks<span class="_ _2"/> on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the useful lives of existing assets.<span class="_ _2"/> Such<span class="_ _2"/> risks <span class="_ _2"/>include ne<span class="_ _2"/>w </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">climate-r<span class="_ _2"/>elated legislation r<span class="_ _2"/>estricting the use of certain </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets,<span class="_ _2"/> new technolo<span class="_ _2"/>gy demanded by clima<span class="_ _2"/>te-relat<span class="_ _2"/>ed leg<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">islation and the incr<span class="_ _2"/>ease in r<span class="_ _2"/>estora<span class="_ _2"/>tion costs for<span class="_ _2"/> t<span class="_ _2"/>erminal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sites due t<span class="_ _2"/>o new and/<span class="_ _2"/>or<span class="_ _2"/> more compr<span class="_ _2"/>ehensive policies.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The useful lives of v<span class="_ _2"/>essels and related as<span class="_ _2"/>sets that<span class="_ _2"/> operat<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on bunker<span class="_ _0"/> fuel have been considered in conjunction<span class="_ _2"/> with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the net zer<span class="_ _2"/>o by 2040 <span class="_ _2"/>targ<span class="_ _2"/>et. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Residual v<span class="_ _2"/>alues of vessels ar<span class="_ _2"/>e difficult<span class="_ _2"/> to estimat<span class="_ _2"/>e given </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">their<span class="_ _2"/> long useful lives,<span class="_ _2"/> the uncertainty<span class="_ _2"/> of future economic </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">conditions,<span class="_ _2"/> the mark<span class="_ _2"/>et for<span class="_ _0"/> conventional fuel vessels </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the uncertainty<span class="_ _2"/> of future st<span class="_ _2"/>eel prices, <span class="_ _2"/>which is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considered <span class="_ _2"/>the main determinant<span class="_ _2"/> of the r<span class="_ _2"/>esidual value<span class="_ _2"/>.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Additionally<span class="_ _0"/>, the ac<span class="_ _2"/>celeration<span class="_ _2"/> of development o<span class="_ _2"/>f vessels </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with a lower<span class="_ _2"/> carbon f<span class="_ _2"/>ootprint may<span class="_ _2"/> gener<span class="_ _2"/>ate downw<span class="_ _2"/>ard </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pressur<span class="_ _2"/>e on the mark<span class="_ _2"/>et f<span class="_ _2"/>or sec<span class="_ _2"/>ond-hand conventional </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fuel vessels.<span class="_ _2"/> Generall<span class="_ _2"/>y<span class="_ _2"/>,<span class="_ _2"/> the residual values of vessels are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">initially<span class="_ _2"/> estimated at<span class="_ _2"/> 10% of the pur<span class="_ _2"/>chase price excluding </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dry-docking c<span class="_ _2"/>osts.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provisions for<span class="_ _0"/> legal disputes</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Management’<span class="_ _2"/>s estimate of <span class="_ _2"/>the provisions f<span class="_ _2"/>or le<span class="_ _2"/>gal dis-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">putes,<span class="_ _2"/> including disputes r<span class="_ _2"/>egarding <span class="_ _2"/>taxes and duties,<span class="_ _2"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on the knowledg<span class="_ _2"/>e available on <span class="_ _2"/>the substance of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the cases and a legal assessmen<span class="_ _2"/>t of these<span class="_ _2"/>. <span class="_ _2"/>The resolution<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of legal disputes <span class="_ _2"/>through either<span class="_ _0"/> negotiations or<span class="_ _2"/> litigation </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">can tak<span class="_ _2"/>e sever<span class="_ _2"/>al y<span class="_ _2"/>ears to be r<span class="_ _2"/>eached and the outcomes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are subject<span class="_ _2"/> to consider<span class="_ _2"/>able uncertainty<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deferred tax assets</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Judgement has been<span class="_ _2"/> applied with respect<span class="_ _2"/> t<span class="_ _2"/>o </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _0"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s ability <span class="_ _2"/>to utilise deferr<span class="_ _2"/>ed tax as<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sets.<span class="_ _2"/> Management considers <span class="_ _2"/>the likelihood of utilisa<span class="_ _2"/>tion </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on the lat<span class="_ _2"/>est business plans and <span class="_ _2"/>the recent<span class="_ _2"/> finan<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cial performances of <span class="_ _2"/>the individual entities.<span class="_ _2"/> Net deferr<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax assets reco<span class="_ _2"/>gnised in entities having r<span class="_ _2"/>ecognised an </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">accounting loss in either<span class="_ _2"/> the curr<span class="_ _2"/>ent<span class="_ _2"/> or pr<span class="_ _2"/>eceding period </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount <span class="_ _2"/>to USD 156m (USD<span class="_ _2"/> 163m). <span class="_ _2"/>These assets mainly<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">relat<span class="_ _2"/>e to unused <span class="_ _2"/>tax losses or<span class="_ _2"/> deductible tempor<span class="_ _2"/>ary dif<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ferenc<span class="_ _2"/>es genera<span class="_ _2"/>ted during the construction of <span class="_ _2"/>terminals,<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">where <span class="_ _2"/>taxable profits hav<span class="_ _2"/>e been gener<span class="_ _2"/>ated either<span class="_ _2"/> in the<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">current<span class="_ _2"/> period or<span class="_ _2"/> are expected <span class="_ _2"/>to be gener<span class="_ _2"/>ated <span class="_ _2"/>within </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the foreseeable futur<span class="_ _2"/>e.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Uncertain tax positions</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk is engaged in a number<span class="_ _0"/> of disputes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with tax authorities of <span class="_ _2"/>varying scope.<span class="_ _2"/> <span class="_ _2"/>Appropriat<span class="_ _2"/>e pro<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">visions and reco<span class="_ _2"/>gnition of uncertain tax positions ha<span class="_ _2"/>ve </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">been made wher<span class="_ _2"/>e the probability<span class="_ _2"/> of the <span class="_ _2"/>tax position being </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">upheld in individual cases is considered less <span class="_ _2"/>than 50%.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Claims for<span class="_ _2"/> which <span class="_ _2"/>the probability<span class="_ _2"/> of A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler - Maersk’<span class="_ _0"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax position being upheld is assessed by<span class="_ _2"/> Management<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to be at<span class="_ _2"/> least 50%,<span class="_ _2"/> are not<span class="_ _2"/> provided for<span class="_ _0"/>.<span class="_ _2"/> Such risks are<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">instead e<span class="_ _2"/>valuated on a<span class="_ _2"/> portfolio basis by g<span class="_ _2"/>eogr<span class="_ _2"/>aphical </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">area and coun<span class="_ _2"/>try risk.<span class="_ _2"/> Provisions and uncertain<span class="_ _2"/> tax liabili-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ties are r<span class="_ _2"/>ecognised when <span class="_ _2"/>the aggre<span class="_ _2"/>gated pr<span class="_ _2"/>obability of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the tax position being upheld is considered less <span class="_ _2"/>than 50%.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Operations in coun<span class="_ _2"/>tries with limited access t<span class="_ _2"/>o </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">repatriating surplus cash</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>.<span class="_ _2"/> Moll<span class="_ _2"/>er<span class="_ _2"/> - Ma<span class="_ _2"/>ersk<span class="_ _2"/> operat<span class="_ _2"/>es worldwide and, in this <span class="ls0 ws0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">respec<span class="_ _1"/>t, has oper<span class="_ _2"/>ations in countries wher<span class="_ _2"/>e the ability<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to repa<span class="_ _2"/>triate surplus cash is complicated and <span class="_ _2"/>time </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">consuming. In<span class="_ _2"/> these countries,<span class="_ _2"/> Management<span class="_ _2"/> makes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">judgements as t<span class="_ _2"/>o whether<span class="_ _2"/> these cash positions can<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">be reco<span class="_ _2"/>gnised as cash and cash equivalents<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 2.<span class="_ _2"/>1 <span class="_"> </span>Segment inf<span class="_ _0"/>ormation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:293.28125px;"><span style="position: absolute; display: inline-block; left: 171.062px; top: 0.0136718px; width: 90.627px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 18.334px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Logistics <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 273.188px; top: 0.0136718px; width: 108.135px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminals <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 11.5196px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owage &amp; </span><span style="position: absolute; display: inline-block; left: 402.844px; top: 0.0136718px; width: 34.7578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Unallo-</span><span style="position: absolute; display: inline-block; left: 458px; top: 0.0136718px; width: 39.0527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Elimina-</span><span style="position: absolute; display: inline-block; left: 521.297px; top: 0.0136718px; width: 35.9883px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Consol-</span><span style="position: absolute; display: inline-block; left: 210.562px; top: 12.0137px; width: 48.8379px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">&amp; Services</span><span style="position: absolute; display: inline-block; left: 336.141px; top: 12.0137px; width: 45.3398px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Maritime </span><span style="position: absolute; display: inline-block; left: 410.969px; top: 12.0137px; width: 28.582px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">cated <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 473.656px; top: 12.0137px; width: 23.4785px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">tions</span><span style="position: absolute; display: inline-block; left: 527.25px; top: 12.0137px; width: 32.373px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">idated </span><span style="position: absolute; display: inline-block; left: 340.297px; top: 24.0137px; width: 38.5371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Services</span><span style="position: absolute; display: inline-block; left: 410.969px; top: 24.0137px; width: 26.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">items</span><span style="position: absolute; display: inline-block; left: 534px; top: 24.0137px; width: 22.9043px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">total</span><span style="position: absolute; display: inline-block; left: 0px; top: 48.6855px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023</span><span style="position: absolute; display: inline-block; left: 0px; top: 63.5762px; width: 557.174px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">External re<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>venue<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 84.879px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>32,149<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.0645px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14,075<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,859<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,865<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>117<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>51,065</span><span style="position: absolute; display: inline-block; left: 0px; top: 78.4668px; width: 559.523px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-segment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> revenue<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,504<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-159<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>985<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>295<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>39<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.3262px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2,664<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 93.3574px; width: 556.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal revenue<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 98.1795px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>33,653<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.0645px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>13,916<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,844<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,160<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>156<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.3262px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-2,664<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>51,065</span><span style="position: absolute; display: inline-block; left: 0px; top: 122.295px; width: 134.104px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Profit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> before deprecia<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>tion, </span><span style="position: absolute; display: inline-block; left: 0px; top: 134.295px; width: 120.773px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">amortisation and impair-</span><span style="position: absolute; display: inline-block; left: 0px; top: 146.295px; width: 556.641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">ment losses, etc. (EBITD<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>A)<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6,940<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,251<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,278<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>320<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-192<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>9,591</span><span style="position: absolute; display: inline-block; left: 0px; top: 161.186px; width: 118.254px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Depreciation and amorti-</span><span style="position: absolute; display: inline-block; left: 0px; top: 173.186px; width: 556.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">sation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 141.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,746<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>817<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>520<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>162<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-17<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,238</span><span style="position: absolute; display: inline-block; left: 0px; top: 188.076px; width: 139.336px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Profit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> before financial items </span><span style="position: absolute; display: inline-block; left: 0px; top: 200.076px; width: 556.852px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">(EBIT)<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 141.756px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,227<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>446<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>980<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>457<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-187<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,934</span><span style="position: absolute; display: inline-block; left: 0px; top: 229.324px; width: 53.8066px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Key<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> metrics:</span><span style="position: absolute; display: inline-block; left: 0px; top: 243.904px; width: 557.027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Invested capital<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 89.8009px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>29,851<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.0645px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10,779<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,813<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,037<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-38<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.0645px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>50,430</span><span style="position: absolute; display: inline-block; left: 0px; top: 258.795px; width: 130.184px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gross capital expenditur<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>es, </span><span style="position: absolute; display: inline-block; left: 0px; top: 270.795px; width: 135.287px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">excl. acquisitions and divest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-</span><span style="position: absolute; display: inline-block; left: 0px; top: 282.795px; width: 556.969px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">ments (CAPEX)<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 101.572px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,987<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>771<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>541<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>318<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>42<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,646</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Refer<span class="_ _2"/>ence is made to <span class="_ _2"/>the income statement<span class="_ _2"/> for<span class="_ _2"/> a r<span class="_ _2"/>econciliation from<span class="_ _2"/> EBIT <span class="_ _2"/>to pr<span class="_ _2"/>ofit befor<span class="_ _2"/>e tax.<span class="_ _2"/> <span class="_ _2"/>The segment<span class="_ _2"/> assets,<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">seg<span class="_ _2"/>ment<span class="_ _2"/> liabilities and <span class="_ _2"/>the sum of invest<span class="_ _2"/>ed capital per se<span class="_ _2"/>gment can be r<span class="_ _2"/>econciled t<span class="_ _2"/>o the assets and liabilities as per<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the <span class="_ _1"/>balance sheet. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:244.171875px;"><span style="position: absolute; display: inline-block; left: 407.031px; top: 0.0136718px; width: 152.637px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 14.6074px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 19.8692px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Invested </span><span style="position: absolute; display: inline-block; left: 525.609px; top: 12.0137px; width: 31.8398px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">capital</span><span style="position: absolute; display: inline-block; left: 0px; top: 36.9961px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">2023</span><span style="position: absolute; display: inline-block; left: 0px; top: 55.8262px; width: 559.02px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Segment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> invested capital<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 280.389px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>62,477<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.0645px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>11,997<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.2109px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 50,480 </span><span style="position: absolute; display: inline-block; left: 0px; top: 70.7168px; width: 499.875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Unallocated it<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ems<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 321.416px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 1,048 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 1,060 </span><span style="position: absolute; display: inline-block; left: 0px; top: 85.6074px; width: 499.939px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Eliminations<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 346.342px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1,307 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1,269 </span><span style="position: absolute; display: inline-block; left: 0px; top: 100.498px; width: 559.014px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Consolidated inv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ested capital <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 257.326px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>62,218<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.0645px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>11,788<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.2109px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 50,430 </span><span style="position: absolute; display: inline-block; left: 0px; top: 130.59px; width: 44.1855px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Add back:</span><span style="position: absolute; display: inline-block; left: 7.65625px; top: 145.17px; width: 491.859px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cash and bank balances<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 286.067px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 6,701 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 7.65625px; top: 160.061px; width: 491.854px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est-bearing r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>eceivables (curr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ent and non-curr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ent)<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.42px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 13,005 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 7.65625px; top: 174.951px; width: 491.736px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Equity inv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>estments, etc. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 306.029px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 7.65625px; top: 189.842px; width: 491.303px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease liabilities and borrowings (curr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ent and non-curr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ent) <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 18.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 14,814 </span><span style="position: absolute; display: inline-block; left: 119.5px; top: 203.789px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 7.65625px; top: 203.873px; width: 110.613px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value of derivativ<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>es</span><span style="position: absolute; display: inline-block; left: 431.109px; top: 203.904px; width: 66.3926px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.5998px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>351</span><span style="position: absolute; display: inline-block; left: 7.65625px; top: 218.795px; width: 491.35px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 380.906px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 176 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 57 </span><span style="position: absolute; display: inline-block; left: 0px; top: 233.686px; width: 499.723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Consolidated balance sheet a<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>t 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 188.69px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 82,100 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 19.4824px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 27,010 </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Relates <span class="_ _2"/>to the fair<span class="_ _2"/> v<span class="_ _2"/>alue of derivatives <span class="_ _2"/>that hedge net<span class="_ _2"/> interest<span class="_ _0"/>-bearing debt, including interest<span class="_ _2"/> rat<span class="_ _2"/>e and cross currency<span class="_ _2"/> swaps.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:293.28125px;"><span style="position: absolute; display: inline-block; left: 170.078px; top: 0.0136718px; width: 90.627px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 18.334px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Logistics <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 273.188px; top: 0.0136718px; width: 108.135px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminals <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 11.5196px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owage &amp; </span><span style="position: absolute; display: inline-block; left: 403.656px; top: 0.0136718px; width: 34.7578px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Unallo-</span><span style="position: absolute; display: inline-block; left: 458.422px; top: 0.0136718px; width: 39.0527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Elimina-</span><span style="position: absolute; display: inline-block; left: 521.891px; top: 0.0136718px; width: 35.9883px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Consol-</span><span style="position: absolute; display: inline-block; left: 210.562px; top: 12.0137px; width: 48.8379px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">&amp; Services</span><span style="position: absolute; display: inline-block; left: 336.234px; top: 12.0137px; width: 45.3398px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Maritime </span><span style="position: absolute; display: inline-block; left: 411.844px; top: 12.0137px; width: 28.582px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">cated <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 473.984px; top: 12.0137px; width: 23.4785px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">tions</span><span style="position: absolute; display: inline-block; left: 527.328px; top: 12.0137px; width: 32.373px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">idated </span><span style="position: absolute; display: inline-block; left: 340.094px; top: 24.0137px; width: 38.5371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Services</span><span style="position: absolute; display: inline-block; left: 411.844px; top: 24.0137px; width: 26.3145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">items</span><span style="position: absolute; display: inline-block; left: 534.188px; top: 24.0137px; width: 22.9043px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">total</span><span style="position: absolute; display: inline-block; left: 0px; top: 48.9961px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 63.5762px; width: 557.027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">External re<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>venue<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 84.879px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>61,497<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.0645px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14,710<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,323<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,894<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>105<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.0645px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>81,529</span><span style="position: absolute; display: inline-block; left: 0px; top: 78.4668px; width: 556.945px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-segment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> revenue<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,802<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-287<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,048<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>399<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>26<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.3262px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3,988<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-</span><span style="position: absolute; display: inline-block; left: 0px; top: 93.3574px; width: 556.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal revenue<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 98.1795px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>64,299<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.0645px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>14,423<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,371<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,293<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>131<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.3262px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-3,988<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>81,529</span><span style="position: absolute; display: inline-block; left: 0px; top: 122.295px; width: 134.104px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Profit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> before deprecia<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>tion, </span><span style="position: absolute; display: inline-block; left: 0px; top: 134.295px; width: 120.773px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">amortisation and impair-</span><span style="position: absolute; display: inline-block; left: 0px; top: 146.295px; width: 556.781px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">ment losses, etc. (EBITD<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>A)<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>33,770<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,378<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,535<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>369<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-207<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-32<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.0645px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>36,813</span><span style="position: absolute; display: inline-block; left: 0px; top: 161.186px; width: 118.254px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Depreciation and amorti-</span><span style="position: absolute; display: inline-block; left: 0px; top: 173.186px; width: 556.77px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">sation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 141.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,762<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>517<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>515<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>179<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-19<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.9179px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,960</span><span style="position: absolute; display: inline-block; left: 0px; top: 188.076px; width: 139.336px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Profit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> before financial items </span><span style="position: absolute; display: inline-block; left: 0px; top: 200.076px; width: 556.746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">(EBIT)<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 135.533px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>29,149<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>814<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>832<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>307<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-229<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7949px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.0645px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>30,860</span><span style="position: absolute; display: inline-block; left: 0px; top: 229.324px; width: 53.8066px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Key<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> metrics:</span><span style="position: absolute; display: inline-block; left: 0px; top: 243.904px; width: 556.893px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Invested capital<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 89.8009px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>32,368<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9,858<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,593<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,794<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-145<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-58<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.0645px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>52,410</span><span style="position: absolute; display: inline-block; left: 0px; top: 258.795px; width: 130.184px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gross capital expenditur<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>es, </span><span style="position: absolute; display: inline-block; left: 0px; top: 270.795px; width: 135.287px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">excl. acquisitions and divest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-</span><span style="position: absolute; display: inline-block; left: 0px; top: 282.795px; width: 556.969px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">ments (CAPEX)<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 101.572px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,620<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>657<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>516<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>350<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>35<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,163</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:244.1875px;"><span style="position: absolute; display: inline-block; left: 406.016px; top: 0.0136718px; width: 152.637px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 14.6074px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 19.8692px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Invested </span><span style="position: absolute; display: inline-block; left: 524.297px; top: 12.0137px; width: 31.8398px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">capital</span><span style="position: absolute; display: inline-block; left: 0px; top: 36.9961px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 55.8262px; width: 557.174px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Segment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> invested capital<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 280.389px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>65,406<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.0645px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>12,793<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.0645px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>52,613</span><span style="position: absolute; display: inline-block; left: 0px; top: 70.7168px; width: 497.256px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Unallocated it<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ems<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 333.264px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>883<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,028</span><span style="position: absolute; display: inline-block; left: 0px; top: 85.6074px; width: 497.707px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Eliminations<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 346.342px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1,408<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.3262px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1,350</span><span style="position: absolute; display: inline-block; left: 0px; top: 100.498px; width: 557.168px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Consolidated inv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ested capital <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 257.326px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>64,881<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.0645px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>12,471<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.0645px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>52,410</span><span style="position: absolute; display: inline-block; left: 0px; top: 130.59px; width: 44.1855px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Add back:</span><span style="position: absolute; display: inline-block; left: 8.5px; top: 145.17px; width: 488.807px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cash and bank balances<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 282.035px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10,057<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-</span><span style="position: absolute; display: inline-block; left: 8.5px; top: 160.061px; width: 489px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est-bearing r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>eceivables (curr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ent and non-curr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ent)<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.033px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17,690<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-</span><span style="position: absolute; display: inline-block; left: 8.5px; top: 174.951px; width: 488.924px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Equity inv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>estments, etc.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 296.232px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>942<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-</span><span style="position: absolute; display: inline-block; left: 8.5px; top: 189.842px; width: 488.684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease liabilities and borrowings (curr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ent and non-curr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ent) <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 152.795px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15,643</span><span style="position: absolute; display: inline-block; left: 119.609px; top: 203.789px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 8.5px; top: 203.873px; width: 110.613px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value of derivativ<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>es</span><span style="position: absolute; display: inline-block; left: 433.625px; top: 203.92px; width: 63.7441px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>520</span><span style="position: absolute; display: inline-block; left: 8.5px; top: 218.811px; width: 489.082px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 383.467px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>110<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14</span><span style="position: absolute; display: inline-block; left: 0px; top: 233.701px; width: 497.291px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Consolidated balance sheet a<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>t 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 191.701px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>93,680<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>28,648</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Relates <span class="_ _2"/>to the fair<span class="_ _2"/> v<span class="_ _2"/>alue of derivatives <span class="_ _2"/>that hedge net<span class="_ _2"/> interest<span class="_ _0"/>-bearing debt, including interest<span class="_ _2"/> rat<span class="_ _2"/>e and cross currency<span class="_ _2"/> swaps.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The segment<span class="_ _2"/> disclosures pr<span class="_ _2"/>ovided above r<span class="_ _2"/>eflect the inf<span class="_ _2"/>ormation which <span class="_ _2"/>the Executive Boar<span class="_ _2"/>d receives mon<span class="_ _2"/>thly in its </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">capacity as <span class="_ _0"/>‘<span class="_ _2"/>chief opera<span class="_ _2"/>ting decision maker’<span class="_ _0"/> as defined in IFRS 8<span class="_ _2"/>. <span class="_ _2"/>The allocation<span class="_ _2"/> of resour<span class="_ _2"/>ces and the segment<span class="_ _2"/> perfor<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mance are ev<span class="_ _2"/>aluated based on r<span class="_ _2"/>evenue and pr<span class="_ _2"/>ofitability measur<span class="_ _2"/>ed on earnings befor<span class="_ _2"/>e interest<span class="_ _2"/> and taxes (EBIT).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _3"/>. Moller - Maers<span class="_ _1"/>k has organised segments in<span class="_ _2"/> <span class="_ _0"/>‘Ocean’<span class="_ _0"/>, <span class="_ _0"/>‘Logistics &amp; Services’<span class="_ _2"/>,<span class="_ _2"/> <span class="_ _0"/>‘T<span class="_ _2"/>erminals’<span class="_ _0"/> and <span class="_ _0"/>‘T<span class="_ _2"/>owage &amp; Maritime Services’<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Ocean segment<span class="_ _2"/> with <span class="_ _2"/>the activities of Maersk Liner<span class="_ _2"/> Business includes Maersk Line and Aliança and business from<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">retir<span class="_ _2"/>ed brands Sealand – <span class="_ _2"/>A<span class="_ _2"/> Maersk Company and Hambur<span class="_ _2"/>g Süd as well as str<span class="_ _2"/>ate<span class="_ _2"/>gic tr<span class="_ _2"/>anshipment hubs under<span class="_ _2"/> <span class="_ _2"/>the APM </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>erminals brand.<span class="_ _2"/> Inland activities relat<span class="_ _2"/>ed to Maersk Liner<span class="_ _2"/> Business ar<span class="_ _2"/>e included in the Lo<span class="_ _2"/>gistics &amp; Services segment.<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Logistics &amp; Services segment<span class="_ _2"/> includes the activities fr<span class="_ _2"/>om Managed by<span class="_ _2"/> Maersk, F<span class="_ _2"/>ulfilled by<span class="_ _2"/> Maersk and T<span class="_ _0"/>ransported </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by<span class="_ _2"/> Maersk.<span class="_ _2"/> <span class="_ _2"/>The <span class="_ _2"/>T<span class="_ _0"/>erminals segment includes gat<span class="_ _2"/>eway<span class="_ _2"/> terminals<span class="_ _2"/>, inv<span class="_ _2"/>olving landside activities such as port activities<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">where th<span class="_ _1"/>e customers are mainly<span class="_ _2"/> the carriers.<span class="_ _2"/> <span class="_ _2"/>The T<span class="_ _0"/>owag<span class="_ _2"/>e &amp; Maritime Services segment<span class="_ _2"/> includes tow<span class="_ _2"/>age services under<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the Svitzer<span class="_ _0"/> brand, Maersk Con<span class="_ _2"/>tainer Industry<span class="_ _2"/> and others.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:283.15625px;"><span style="position: absolute; display: inline-block; left: 286.156px; top: 0.0136718px; width: 245.572px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">External re<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>venue<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 75.9315px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> assets</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6543px; width: 557.08px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Geographical split<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 203.994px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.381px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 49.3262px; width: 556.969px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Denmark<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 256.131px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>869<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,002<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>23,592<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>22,031</span><span style="position: absolute; display: inline-block; left: 0px; top: 64.2168px; width: 556.723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Austr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>alia<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 246.879px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,284<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,984<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>68<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>400</span><span style="position: absolute; display: inline-block; left: 0px; top: 79.1074px; width: 556.623px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Brazil<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 262.195px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,431<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,574<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>207<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>240</span><span style="position: absolute; display: inline-block; left: 0px; top: 93.998px; width: 557.004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">China and Hong Kong<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 188.69px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,796<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,564<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,643<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,429</span><span style="position: absolute; display: inline-block; left: 0px; top: 108.889px; width: 556.629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Costa Rica <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 247.312px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>384<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>429<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>795<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>832</span><span style="position: absolute; display: inline-block; left: 0px; top: 123.779px; width: 556.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Germany<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 246.381px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,668<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,607<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,345<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>618</span><span style="position: absolute; display: inline-block; left: 0px; top: 138.654px; width: 556.986px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">India<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 265.846px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,397<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,827<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>629<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>618</span><span style="position: absolute; display: inline-block; left: 0px; top: 153.545px; width: 556.623px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Mexico<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 255.334px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,364<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,301<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>613<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>491</span><span style="position: absolute; display: inline-block; left: 0px; top: 168.436px; width: 556.734px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Morocco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 257.326px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>300<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>492<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,605<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,439</span><span style="position: absolute; display: inline-block; left: 0px; top: 183.326px; width: 556.957px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Netherlands<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 230.596px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,603<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,944<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,165<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,219</span><span style="position: absolute; display: inline-block; left: 0px; top: 198.217px; width: 556.846px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Singapore<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 250.881px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>992<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>794<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,853<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,070</span><span style="position: absolute; display: inline-block; left: 0px; top: 213.107px; width: 556.787px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Spain<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 262.887px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,337<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,981<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,068<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,040</span><span style="position: absolute; display: inline-block; left: 0px; top: 227.998px; width: 557.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">UK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 275.59px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,823<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,247<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>320<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>449</span><span style="position: absolute; display: inline-block; left: 0px; top: 242.889px; width: 556.945px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">USA<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 262.887px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11,457<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>19,885<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,210<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,254</span><span style="position: absolute; display: inline-block; left: 0px; top: 257.779px; width: 556.717px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 255.334px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>22,360<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>35,898<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,740<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,816</span><span style="position: absolute; display: inline-block; left: 0px; top: 272.67px; width: 556.787px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 257.326px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>51,065<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>81,529<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>46,853<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>49,946</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Comprise intangible assets,<span class="_ _2"/> property<span class="_ _2"/>,<span class="_ _2"/> plant and equipment<span class="_ _2"/> and right-of-use assets<span class="_ _2"/>, excluding financial non-curr<span class="_ _2"/>ent assets r<span class="_ _2"/>elating </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to continuing oper<span class="_ _2"/>ations.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Geographical inf<span class="_ _2"/>ormation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Revenue on shipping activities is based on<span class="_ _2"/> the port of dischar<span class="_ _2"/>ge for<span class="_ _0"/> all vessels oper<span class="_ _2"/>ated by<span class="_ _2"/> the Group<span class="_ _2"/>, including leased </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vessels on <span class="_ _2"/>time charter<span class="_ _2"/> agreements.<span class="_ _2"/> Rev<span class="_ _2"/>enue for<span class="_ _2"/> leasing out <span class="_ _2"/>the vessels on <span class="_ _2"/>time charter<span class="_ _2"/> agreemen<span class="_ _2"/>t, wher<span class="_ _2"/>e the Gr<span class="_ _2"/>oup <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acts as a lessor<span class="_ _0"/>, is based on <span class="_ _2"/>the customer<span class="_ _2"/> location.<span class="_ _2"/> For non-curr<span class="_ _2"/>ent<span class="_ _2"/> assets (e.g. <span class="_ _2"/>terminals),<span class="_ _2"/> which cannot<span class="_ _2"/> be easily mov<span class="_ _2"/>ed, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">geogr<span class="_ _2"/>aphical location is wher<span class="_ _2"/>e the assets ar<span class="_ _2"/>e located.<span class="_ _2"/> For<span class="_ _2"/> all other<span class="_ _2"/> assets,<span class="_ _2"/> geogr<span class="_ _2"/>aphical location is based on <span class="_ _2"/>the legal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ownership.<span class="_ _2"/> These assets consist<span class="_ _2"/> mainly<span class="_ _2"/> of vessels and con<span class="_ _2"/>tainers register<span class="_ _2"/>ed in China,<span class="_ _2"/> Denmark, Sing<span class="_ _2"/>apore and <span class="_ _2"/>the USA.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICIES </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Segment<span class="_ _2"/> information</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The allocation of business activities in<span class="_ _2"/>to segments r<span class="_ _2"/>e-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">flects A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler - Maersk’<span class="_ _0"/>s character<span class="_ _2"/> as an inte<span class="_ _2"/>grat<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">container<span class="_ _2"/> logistics business and is in line with<span class="_ _2"/> the internal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">management r<span class="_ _2"/>eporting.<span class="_ _2"/> The r<span class="_ _2"/>eportable segments ar<span class="_ _2"/>e as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">follows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:204.578125px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 243.639px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Global container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> shipping activities,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> </span></span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 13.5273px; width: 177.873px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">including stra<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>tegic tr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>anshipment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> hubs</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.623px; width: 47.168px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Logistics </span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 38.1992px; width: 174.867px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Integr<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ated tr<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ansportation,<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> fulfilment </span><span style="position: absolute; display: inline-block; left: 0px; top: 54.623px; width: 50.4023px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">&amp; Services</span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 53.1992px; width: 178.723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">and management solutions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>, including </span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 68.1992px; width: 182.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">landside and air<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> tr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ansportation as wel<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>l </span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 83.2148px; width: 162.1px; white-space: pre; word-spacing: 0px; letter-spacing: 0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">as war<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ehousing and supply chain<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 98.2148px; width: 107.766px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">management off<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erings</span><span style="position: absolute; display: inline-block; left: 0px; top: 124.387px; width: 72.4746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>erminals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.5469px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 72.4746px; top: 122.887px; width: 126.697px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Gate<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>way<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> terminal activities</span><span style="position: absolute; display: inline-block; left: 0px; top: 148.982px; width: 51.3809px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>owage &amp; </span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 147.574px; width: 176.52px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>owage and rela<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ted marine activities,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 163.998px; width: 49.1953px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Maritime </span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 162.574px; width: 157.857px; white-space: pre; word-spacing: 0px; letter-spacing: 0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">production of r<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>eefer<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> containers<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>, <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 178.998px; width: 39.9434px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Services</span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 177.59px; width: 164.133px; white-space: pre; word-spacing: 0px; letter-spacing: 0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">providing offshor<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e supply<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> service <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 192.59px; width: 158.531px; white-space: pre; word-spacing: 0px; letter-spacing: 0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">and tr<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ading and other<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> businesses</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Opera<span class="_ _2"/>ting segments have not<span class="_ _2"/> been aggre<span class="_ _2"/>gated.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The reportable segmen<span class="_ _2"/>ts comprise:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ocean</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ocean activities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities under<span class="_ _2"/> Maersk Line and Aliança<span class="_ _2"/> and the retir<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">brands Hambur<span class="_ _2"/>g Süd and Sealand – <span class="_ _2"/>A Maersk company<span class="_ _0"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with ocean container<span class="_ _2"/> fr<span class="_ _2"/>eight being <span class="_ _2"/>the main rev<span class="_ _2"/>enue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">stream.<span class="_ _2"/> Ocean container<span class="_ _2"/> fr<span class="_ _2"/>eight is defined as <span class="_ _2"/>the cost-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">per-<span class="_ _2"/>weight measur<span class="_ _2"/>e of tr<span class="_ _2"/>ansporting goods on boar<span class="_ _2"/>d a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">container<span class="_ _2"/> vessel acr<span class="_ _2"/>oss the ocean,<span class="_ _2"/> including demurr<span class="_ _2"/>age </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and detention,<span class="_ _2"/> terminal handling,<span class="_ _2"/> documentation ser<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vices,<span class="_ _2"/> container<span class="_ _2"/> services as well as c<span class="_ _2"/>ontainer<span class="_ _2"/> storag<span class="_ _2"/>e.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Hub activities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities under<span class="_ _2"/> the <span class="_ _2"/>APM T<span class="_ _0"/>erminals br<span class="_ _2"/>and-gener<span class="_ _2"/>ating rev<span class="_ _2"/>e<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nue by pr<span class="_ _2"/>oviding port services onl<span class="_ _2"/>y in major<span class="_ _0"/> transhipment<span class="_ _2"/> <span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ports such <span class="_ _1"/>as <span class="_ _1"/>Maasvlakte-II,<span class="_ _2"/> Algecir<span class="_ _2"/>as,<span class="_ _2"/> T<span class="_ _0"/>angier<span class="_ _2"/>,<span class="_ _2"/> T<span class="_ _0"/>angier- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Med <span class="_ _1"/>II, Port<span class="_ _2"/> Said,<span class="_ _2"/> and joint <span class="_ _2"/>ventures in<span class="_ _2"/> Salalah and T<span class="_ _0"/>anjung </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Pelepas.<span class="_ _2"/> The r<span class="_ _2"/>espective <span class="_ _2"/>terminals are included under<span class="_ _2"/> <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ocean segment,<span class="_ _2"/> as the primary<span class="_ _2"/> purpose of those ports is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to pro<span class="_ _2"/>vide tr<span class="_ _2"/>anshipment services <span class="_ _2"/>to <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ocean business, wher<span class="_ _2"/>eas third-party<span class="_ _2"/> volumes sold <span class="_ _1"/>in those </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">locations are consider<span class="_ _2"/>ed secondary<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk Energy Markets</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Sourcing marine fuels for<span class="_ _0"/> A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s fleet and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">third-party<span class="_ _2"/> customers,<span class="_ _2"/> in addition t<span class="_ _2"/>o opera<span class="_ _2"/>ting a fuel </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">infrastructure in<span class="_ _2"/> key<span class="_ _2"/> bunker<span class="_ _0"/> ports.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Logistics &amp; Services</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Managed by Maersk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Service the suppl<span class="_ _2"/>y chain with<span class="_ _2"/> Lead Logistics (Supply Chain<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Management and 4PL),<span class="_ _2"/> Cold Chain lo<span class="_ _2"/>gistics and Custom </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Services,<span class="_ _2"/> enabling customers t<span class="_ _2"/>o control or<span class="_ _2"/> outsour<span class="_ _2"/>ce part </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of or<span class="_ _2"/> all their<span class="_ _0"/> supply chain.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fulfilled by Maersk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities such as Contr<span class="_ _2"/>act Logistics (W<span class="_ _0"/>arehousing, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Distribution and Depot) and e-commerce supporting<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">integr<span class="_ _2"/>ated ful<span class="_ _2"/>filment solutions,<span class="_ _2"/> t<span class="_ _2"/>o improv<span class="_ _2"/>e customer<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">consolidation.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _2"/>ransported by<span class="_ _2"/> Maersk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Integr<span class="_ _2"/>ated <span class="_ _2"/>transporta<span class="_ _2"/>tion solutions supported by<span class="_ _2"/> Land-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">side T<span class="_ _0"/>ransportation (In<span class="_ _2"/>termodal and Inter<span class="_ _2"/>continental Rail), </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">V<span class="_ _2"/>alue Prot<span class="_ _2"/>ect, <span class="_ _2"/>Air<span class="_ _2"/> &amp; Less Than<span class="_ _2"/> Container<span class="_ _2"/> Load (LCL),<span class="_ _2"/> Full </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Container<span class="_ _2"/> Load (FCL) and Maersk Air<span class="_ _0"/> Cargo,<span class="_ _2"/> to f<span class="_ _2"/>acilitate </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">supply chain<span class="_ _2"/> control acr<span class="_ _2"/>oss A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler<span class="_ _2"/> - Maersk.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>erminals</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>erminals activities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities in ports fully<span class="_ _2"/> or<span class="_ _2"/> partially<span class="_ _2"/> contr<span class="_ _2"/>olled by <span class="_ _2"/>the <span class="_ _2"/>APM </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>erminals brand,<span class="_ _2"/> with <span class="_ _2"/>the main rev<span class="_ _2"/>enue stream being </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">port activities not<span class="_ _2"/> considered a hub activity<span class="_ _2"/> as described </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">above.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>owage &amp; Maritime Services</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>owage activities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities under<span class="_ _2"/> the S<span class="_ _2"/>vitzer<span class="_ _2"/> brand,<span class="_ _2"/> a pr<span class="_ _2"/>ovider<span class="_ _2"/> of offshore </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">towag<span class="_ _2"/>e and marine services.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk Container<span class="_ _0"/> <span class="_ _1"/>Industry</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Manufactur<span class="_ _2"/>er <span class="_ _2"/>that pr<span class="_ _2"/>oduces reef<span class="_ _2"/>er<span class="_ _2"/> containers.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk Supply Service</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provides marine services and in<span class="_ _2"/>tegr<span class="_ _2"/>ated solutions <span class="_ _2"/>to the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">energy sect<span class="_ _2"/>or <span class="_ _2"/>worldwide with a lar<span class="_ _2"/>ge fleet of anchor<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">handling tug supply <span class="_ _2"/>vessels and subsea support<span class="_ _2"/> vessels.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The company <span class="_ _2"/>was divested in Ma<span class="_ _2"/>y 2023<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _2"/> businesses</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Consists of Maersk Growth,<span class="_ _2"/> Maersk <span class="_ _2"/>T<span class="_ _2"/>r<span class="_ _2"/>aining and other<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">services to the maritime industry.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Unallocated it<span class="_ _2"/>ems and inter-segmen<span class="_ _2"/>t re<span class="_ _2"/>venue</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Most Gr<span class="_ _2"/>oup-related c<span class="_ _2"/>osts in A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler - Maersk’<span class="_ _0"/>s corpo-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _2"/>te functions are not<span class="_ _2"/> included in the r<span class="_ _2"/>eportable segments.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">These functions are r<span class="_ _2"/>eported as unallocat<span class="_ _2"/>ed items.<span class="_ _2"/> Reve<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nue between segments is limit<span class="_ _2"/>ed, ex<span class="_ _2"/>cept for<span class="_ _0"/> the T<span class="_ _0"/>erminals </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">segment,<span class="_ _2"/> where a<span class="_ _2"/> large part<span class="_ _2"/> of the services is deliver<span class="_ _2"/>ed t<span class="_ _2"/>o </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the Ocean segment<span class="_ _2"/> as well as <span class="_ _2"/>the sale of containers fr<span class="_ _2"/>om </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk Container<span class="_ _2"/> Industry <span class="_ _2"/>to the Ocean se<span class="_ _2"/>gment.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:258.515625px;"><span style="position: absolute; display: inline-block; left: 223.234px; top: 0.0136718px; width: 333.85px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ypes of revenue<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.266px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 194.221px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Freight r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>evenue<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>28,421<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>56,499</span><span style="position: absolute; display: inline-block; left: 223.234px; top: 39.5762px; width: 333.457px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> revenue, including hubs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 87.1642px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,232<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,800</span><span style="position: absolute; display: inline-block; left: 317.734px; top: 54.3047px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 317.256px; top: 54.4512px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4512px; width: 317.256px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Logistics &amp; Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.781px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Managed by<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> Maersk</span><span style="position: absolute; display: inline-block; left: 450.641px; top: 54.4355px; width: 105.516px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2,168<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,491</span><span style="position: absolute; display: inline-block; left: 312.953px; top: 69.1953px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 312.689px; top: 69.3262px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 223.234px; top: 69.3262px; width: 89.4551px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fulfilled b<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>y Maersk</span><span style="position: absolute; display: inline-block; left: 450.641px; top: 69.3262px; width: 105.516px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">5,452<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,916</span><span style="position: absolute; display: inline-block; left: 330.812px; top: 84.1016px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 330.771px; top: 84.2168px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 223.234px; top: 84.2168px; width: 107.537px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansported by<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> Maersk</span><span style="position: absolute; display: inline-block; left: 450.641px; top: 84.2168px; width: 105.516px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">6,296<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,016</span><span style="position: absolute; display: inline-block; left: 0px; top: 99.1074px; width: 557.074px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 177.685px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminal services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.445px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,844<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,371</span><span style="position: absolute; display: inline-block; left: 0px; top: 113.998px; width: 557.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owage &amp; Maritime Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owage services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 162.451px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>839<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>774</span><span style="position: absolute; display: inline-block; left: 223.234px; top: 128.889px; width: 333.592px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Sale of containers and spar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e parts<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 77.7716px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>496<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>499</span><span style="position: absolute; display: inline-block; left: 337.938px; top: 143.664px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 338.131px; top: 143.779px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 223.234px; top: 143.779px; width: 114.896px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Offshore suppl<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>y services</span><span style="position: absolute; display: inline-block; left: 461.141px; top: 143.795px; width: 95.6895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">111<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>390</span><span style="position: absolute; display: inline-block; left: 336.141px; top: 158.555px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 336.326px; top: 158.686px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 223.234px; top: 158.686px; width: 113.092px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> shipping activities</span><span style="position: absolute; display: inline-block; left: 461.141px; top: 158.686px; width: 95.6895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">263<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>282</span><span style="position: absolute; display: inline-block; left: 223.234px; top: 173.576px; width: 333.598px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 171.627px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>451<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>348</span><span style="position: absolute; display: inline-block; left: 0px; top: 188.467px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Unallocated activities and elimina<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>tions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 258.82px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-2,508<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.3301px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-3,857</span><span style="position: absolute; display: inline-block; left: 0px; top: 203.357px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal revenue<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 378.795px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>51,065<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>81,529</span><span style="position: absolute; display: inline-block; left: 0px; top: 233.139px; width: 556.799px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Of which recognised o<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ver<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> time<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 300.188px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>47,569<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>78,722</span><span style="position: absolute; display: inline-block; left: 0px; top: 248.029px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Of which recognised a<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>t a point<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> in time<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 270.692px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6,004<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6,664</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>The 2022 by Maersk r<span class="_ _2"/>evenue figures ha<span class="_ _2"/>ve been restat<span class="_ _2"/>ed in order<span class="_ _2"/> to r<span class="_ _2"/>eflect changes <span class="_ _2"/>within the Logistics &amp; Services model definition.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Revenue fr<span class="_ _2"/>om US Marine Management and Maersk Suppl<span class="_ _2"/>y Service are included in<span class="_ _2"/> Other shipping activities and Offshor<span class="_ _2"/>e supply services<span class="_ _2"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">respectivel<span class="_ _2"/>y<span class="_ _2"/>, for<span class="_ _0"/> the period 1 January 2023 until divestment.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:124.515625px;"><span style="position: absolute; display: inline-block; left: 454.141px; top: 0.0136718px; width: 102.393px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Revenue fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om contr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>acts with customers<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 256.893px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>49,997<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>80,179</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.7773px; width: 122.912px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Revenue from other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> sources</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>essel-sharing and slot charter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> income<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.018px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>938<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,229</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease income<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 403.92px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14</span><span style="position: absolute; display: inline-block; left: 0px; top: 99.1387px; width: 557.086px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Others<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 429.938px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>114<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>107</span><span style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal revenue<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 378.795px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>51,065<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>81,529</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Set out<span class="_ _2"/> above is the r<span class="_ _2"/>econciliation of <span class="_ _2"/>the rev<span class="_ _2"/>enue from contr<span class="_ _2"/>acts with cust<span class="_ _2"/>omers to <span class="_ _2"/>the amounts disclosed as <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">total re<span class="_ _2"/>venue.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:64.953125px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 557.08px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Contract<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> balances<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 367.734px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 557.004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ade receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables from r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>evenue fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om contr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>acts with customers<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 156.24px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,533<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,508</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Accrued income – contr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>act asset<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 307.98px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>192<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>263</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Deferr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed income – contract<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> liability <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 299.074px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>47<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>45</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Accrued income included in tr<span class="_ _2"/>ade r<span class="_ _2"/>eceivables in <span class="_ _2"/>the balance sheet constitutes con<span class="_ _2"/>tract<span class="_ _2"/> assets comprising unbilled </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amounts t<span class="_ _2"/>o customers repr<span class="_ _2"/>esenting the Gr<span class="_ _2"/>oup’<span class="_ _2"/>s right <span class="_ _2"/>to considera<span class="_ _2"/>tion for<span class="_ _2"/> the services <span class="_ _2"/>tr<span class="_ _2"/>ansferred <span class="_ _2"/>to date<span class="_ _2"/>. <span class="_ _2"/>Any amoun<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">previousl<span class="_ _2"/>y r<span class="_ _2"/>ecognised as accrued income is r<span class="_ _2"/>eclassified to <span class="_ _2"/>trade r<span class="_ _2"/>eceivables at<span class="_ _2"/> the <span class="_ _2"/>time the service is complet<span class="_ _2"/>ed. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deferred income is r<span class="_ _2"/>ecognised in <span class="_ _2"/>the income statement<span class="_ _2"/> within 12 months.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Under<span class="_ _2"/> the payment<span class="_ _2"/> terms g<span class="_ _2"/>eneral<span class="_ _2"/>ly applicable <span class="_ _2"/>to the Gr<span class="_ _2"/>oup’<span class="_ _2"/>s rev<span class="_ _2"/>enue-genera<span class="_ _2"/>ting activities, pr<span class="_ _2"/>epayments ar<span class="_ _2"/>e received </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">only <span class="_ _2"/>to a limit<span class="_ _2"/>ed extent.<span class="_ _2"/> T<span class="_ _2"/>ypicall<span class="_ _2"/>y<span class="_ _2"/>,<span class="_ _2"/> payment is due upon<span class="_ _2"/> or aft<span class="_ _2"/>er<span class="_ _2"/> completion of the services<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Part of <span class="_ _2"/>the deferr<span class="_ _2"/>ed income presented in<span class="_ _2"/> the balance sheet<span class="_ _2"/> constitutes contr<span class="_ _2"/>act liabilities which<span class="_ _2"/> represen<span class="_ _2"/>t advance </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments and billings in<span class="_ _2"/> excess of re<span class="_ _2"/>venue reco<span class="_ _2"/>gnised.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">There w<span class="_ _2"/>ere no significant<span class="_ _2"/> changes in accrued income and deferr<span class="_ _2"/>ed income during the r<span class="_ _2"/>eporting period.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses disclosed in not<span class="_ _2"/>e 4.5 rela<span class="_ _2"/>te t<span class="_ _2"/>o receivables arising fr<span class="_ _2"/>om contr<span class="_ _2"/>acts with cust<span class="_ _2"/>omers.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Income statement</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Revenue f<span class="_ _2"/>or al<span class="_ _2"/>l businesses is reco<span class="_ _2"/>gnised when the perf<span class="_ _2"/>or-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mance obligation has been sa<span class="_ _2"/>tisfied, which<span class="_ _2"/> happens upon </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _2"/>er<span class="_ _2"/> of control <span class="_ _2"/>to the cust<span class="_ _2"/>omer a<span class="_ _2"/>t an amount<span class="_ _2"/> that<span class="_ _2"/> re-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">flects the consideration t<span class="_ _2"/>o which the Group expects to be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">entitled in exchange f<span class="_ _2"/>or<span class="_ _2"/> the goods and services<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Revenue fr<span class="_ _2"/>om shipping activities is reco<span class="_ _2"/>gnised over<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">time as the performanc<span class="_ _2"/>e obligation is satisfied,<span class="_ _2"/> including </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a share of r<span class="_ _2"/>evenue fr<span class="_ _2"/>om incomplete <span class="_ _2"/>voyages a<span class="_ _2"/>t the bal<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ance sheet dat<span class="_ _2"/>e. In<span class="_ _2"/>voiced re<span class="_ _2"/>venue relat<span class="_ _2"/>ed to an estimat<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">proportion of r<span class="_ _2"/>emaining vo<span class="_ _2"/>yage <span class="_ _2"/>time and activities at <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">destination port is def<span class="_ _2"/>erred.<span class="_ _2"/> Per<span class="_ _2"/>centage of completion </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is calculated as <span class="_ _2"/>the number of da<span class="_ _2"/>ys of a v<span class="_ _2"/>oyage as a per<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">centage of <span class="_ _2"/>the total number<span class="_ _2"/> of days a<span class="_ _2"/> voy<span class="_ _2"/>age is estimated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to last.<span class="_ _2"/> Detention and demurr<span class="_ _2"/>age fees ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised over<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">time up until the <span class="_ _2"/>time of the customer’<span class="_ _0"/>s late return or<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pick<span class="_ _2"/>-up of containers.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Revenue fr<span class="_ _2"/>om t<span class="_ _2"/>erminal operations and <span class="_ _2"/>towing activi-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ties is reco<span class="_ _2"/>gnised upon completion of the service<span class="_ _2"/>. In<span class="_ _2"/> con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tainer<span class="_ _2"/> terminals oper<span class="_ _2"/>ated under<span class="_ _2"/> certain r<span class="_ _2"/>estrictive t<span class="_ _2"/>erms </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of pricing and service,<span class="_ _2"/> etc.,<span class="_ _2"/> the v<span class="_ _2"/>alue of tangible assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">constructed on behalf of <span class="_ _2"/>the concession gr<span class="_ _2"/>antor<span class="_ _2"/> is r<span class="_ _2"/>ecog-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nised as rev<span class="_ _2"/>enue during the construction.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Revenue fr<span class="_ _2"/>om most<span class="_ _2"/> freight f<span class="_ _2"/>orwar<span class="_ _2"/>ding activities is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised over time<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Revenue fr<span class="_ _2"/>om the sale of goods is r<span class="_ _2"/>ecognised upon <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _2"/>er<span class="_ _2"/> of control <span class="_ _2"/>to the buy<span class="_ _2"/>er<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>No significant element<span class="_ _2"/> of financing is deemed presen<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as sales are made with<span class="_ _2"/> a credit<span class="_ _2"/> term o<span class="_ _2"/>f 20-45 days,<span class="_ _2"/> which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is consistent<span class="_ _2"/> with mark<span class="_ _2"/>et pr<span class="_ _2"/>actice.<span class="_ _2"/> Revenue fr<span class="_ _2"/>om sales is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised based on the price specified in <span class="_ _2"/>the contr<span class="_ _2"/>act, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">net of <span class="_ _2"/>the estimated v<span class="_ _2"/>olume discounts.<span class="_ _2"/> Accumula<span class="_ _2"/>ted </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">experience is used t<span class="_ _2"/>o estimate and pro<span class="_ _2"/>vide for<span class="_ _2"/> the dis<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">counts,<span class="_ _2"/> using the expect<span class="_ _2"/>ed value method,<span class="_ _2"/> and r<span class="_ _2"/>evenue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is only r<span class="_ _2"/>ecognised <span class="_ _2"/>to the e<span class="_ _2"/>xtent <span class="_ _2"/>that it<span class="_ _2"/> is highly pr<span class="_ _2"/>obable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">that a significan<span class="_ _2"/>t re<span class="_ _2"/>versal will not<span class="_ _2"/> occur<span class="_ _0"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:258.515625px;"><span style="position: absolute; display: inline-block; left: 223.234px; top: 0.0136718px; width: 333.85px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ypes of revenue<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.266px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 194.221px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Freight r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>evenue<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>28,421<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>56,499</span><span style="position: absolute; display: inline-block; left: 223.234px; top: 39.5762px; width: 333.457px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> revenue, including hubs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 87.1642px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,232<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,800</span><span style="position: absolute; display: inline-block; left: 317.734px; top: 54.3047px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 317.256px; top: 54.4512px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4512px; width: 317.256px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Logistics &amp; Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.781px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Managed by<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> Maersk</span><span style="position: absolute; display: inline-block; left: 450.641px; top: 54.4355px; width: 105.516px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2,168<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,491</span><span style="position: absolute; display: inline-block; left: 312.953px; top: 69.1953px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 312.689px; top: 69.3262px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 223.234px; top: 69.3262px; width: 89.4551px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fulfilled b<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>y Maersk</span><span style="position: absolute; display: inline-block; left: 450.641px; top: 69.3262px; width: 105.516px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">5,452<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,916</span><span style="position: absolute; display: inline-block; left: 330.812px; top: 84.1016px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 330.771px; top: 84.2168px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 223.234px; top: 84.2168px; width: 107.537px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansported by<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> Maersk</span><span style="position: absolute; display: inline-block; left: 450.641px; top: 84.2168px; width: 105.516px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">6,296<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,016</span><span style="position: absolute; display: inline-block; left: 0px; top: 99.1074px; width: 557.074px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 177.685px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminal services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.445px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,844<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,371</span><span style="position: absolute; display: inline-block; left: 0px; top: 113.998px; width: 557.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owage &amp; Maritime Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owage services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 162.451px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>839<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>774</span><span style="position: absolute; display: inline-block; left: 223.234px; top: 128.889px; width: 333.592px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Sale of containers and spar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e parts<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 77.7716px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>496<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>499</span><span style="position: absolute; display: inline-block; left: 337.938px; top: 143.664px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 338.131px; top: 143.779px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 223.234px; top: 143.779px; width: 114.896px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Offshore suppl<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>y services</span><span style="position: absolute; display: inline-block; left: 461.141px; top: 143.795px; width: 95.6895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">111<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>390</span><span style="position: absolute; display: inline-block; left: 336.141px; top: 158.555px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 336.326px; top: 158.686px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 223.234px; top: 158.686px; width: 113.092px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> shipping activities</span><span style="position: absolute; display: inline-block; left: 461.141px; top: 158.686px; width: 95.6895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">263<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>282</span><span style="position: absolute; display: inline-block; left: 223.234px; top: 173.576px; width: 333.598px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 171.627px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>451<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>348</span><span style="position: absolute; display: inline-block; left: 0px; top: 188.467px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Unallocated activities and elimina<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>tions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 258.82px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-2,508<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.3301px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-3,857</span><span style="position: absolute; display: inline-block; left: 0px; top: 203.357px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal revenue<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 378.795px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>51,065<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>81,529</span><span style="position: absolute; display: inline-block; left: 0px; top: 233.139px; width: 556.799px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Of which recognised o<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ver<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> time<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 300.188px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>47,569<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>78,722</span><span style="position: absolute; display: inline-block; left: 0px; top: 248.029px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Of which recognised a<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>t a point<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> in time<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 270.692px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6,004<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6,664</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>The 2022 by Maersk r<span class="_ _2"/>evenue figures ha<span class="_ _2"/>ve been restat<span class="_ _2"/>ed in order<span class="_ _2"/> to r<span class="_ _2"/>eflect changes <span class="_ _2"/>within the Logistics &amp; Services model definition.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Revenue fr<span class="_ _2"/>om US Marine Management and Maersk Suppl<span class="_ _2"/>y Service are included in<span class="_ _2"/> Other shipping activities and Offshor<span class="_ _2"/>e supply services<span class="_ _2"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">respectivel<span class="_ _2"/>y<span class="_ _2"/>, for<span class="_ _0"/> the period 1 January 2023 until divestment.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:124.515625px;"><span style="position: absolute; display: inline-block; left: 454.141px; top: 0.0136718px; width: 102.393px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Revenue fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om contr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>acts with customers<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 256.893px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>49,997<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>80,179</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.7773px; width: 122.912px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Revenue from other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> sources</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>essel-sharing and slot charter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> income<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.018px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>938<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,229</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease income<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 403.92px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14</span><span style="position: absolute; display: inline-block; left: 0px; top: 99.1387px; width: 557.086px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Others<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 429.938px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>114<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>107</span><span style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal revenue<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 378.795px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>51,065<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>81,529</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Set out<span class="_ _2"/> above is the r<span class="_ _2"/>econciliation of <span class="_ _2"/>the rev<span class="_ _2"/>enue from contr<span class="_ _2"/>acts with cust<span class="_ _2"/>omers to <span class="_ _2"/>the amounts disclosed as <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">total re<span class="_ _2"/>venue.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:64.953125px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 557.08px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Contract<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> balances<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 367.734px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 557.004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ade receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables from r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>evenue fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om contr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>acts with customers<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 156.24px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,533<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,508</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Accrued income – contr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>act asset<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 307.98px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>192<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>263</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Deferr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed income – contract<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> liability <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 299.074px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>47<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>45</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Accrued income included in tr<span class="_ _2"/>ade r<span class="_ _2"/>eceivables in <span class="_ _2"/>the balance sheet constitutes con<span class="_ _2"/>tract<span class="_ _2"/> assets comprising unbilled </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amounts t<span class="_ _2"/>o customers repr<span class="_ _2"/>esenting the Gr<span class="_ _2"/>oup’<span class="_ _2"/>s right <span class="_ _2"/>to considera<span class="_ _2"/>tion for<span class="_ _2"/> the services <span class="_ _2"/>tr<span class="_ _2"/>ansferred <span class="_ _2"/>to date<span class="_ _2"/>. <span class="_ _2"/>Any amoun<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">previousl<span class="_ _2"/>y r<span class="_ _2"/>ecognised as accrued income is r<span class="_ _2"/>eclassified to <span class="_ _2"/>trade r<span class="_ _2"/>eceivables at<span class="_ _2"/> the <span class="_ _2"/>time the service is complet<span class="_ _2"/>ed. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deferred income is r<span class="_ _2"/>ecognised in <span class="_ _2"/>the income statement<span class="_ _2"/> within 12 months.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Under<span class="_ _2"/> the payment<span class="_ _2"/> terms g<span class="_ _2"/>eneral<span class="_ _2"/>ly applicable <span class="_ _2"/>to the Gr<span class="_ _2"/>oup’<span class="_ _2"/>s rev<span class="_ _2"/>enue-genera<span class="_ _2"/>ting activities, pr<span class="_ _2"/>epayments ar<span class="_ _2"/>e received </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">only <span class="_ _2"/>to a limit<span class="_ _2"/>ed extent.<span class="_ _2"/> T<span class="_ _2"/>ypicall<span class="_ _2"/>y<span class="_ _2"/>,<span class="_ _2"/> payment is due upon<span class="_ _2"/> or aft<span class="_ _2"/>er<span class="_ _2"/> completion of the services<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Part of <span class="_ _2"/>the deferr<span class="_ _2"/>ed income presented in<span class="_ _2"/> the balance sheet<span class="_ _2"/> constitutes contr<span class="_ _2"/>act liabilities which<span class="_ _2"/> represen<span class="_ _2"/>t advance </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments and billings in<span class="_ _2"/> excess of re<span class="_ _2"/>venue reco<span class="_ _2"/>gnised.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">There w<span class="_ _2"/>ere no significant<span class="_ _2"/> changes in accrued income and deferr<span class="_ _2"/>ed income during the r<span class="_ _2"/>eporting period.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses disclosed in not<span class="_ _2"/>e 4.5 rela<span class="_ _2"/>te t<span class="_ _2"/>o receivables arising fr<span class="_ _2"/>om contr<span class="_ _2"/>acts with cust<span class="_ _2"/>omers.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Income statement</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Revenue f<span class="_ _2"/>or al<span class="_ _2"/>l businesses is reco<span class="_ _2"/>gnised when the perf<span class="_ _2"/>or-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mance obligation has been sa<span class="_ _2"/>tisfied, which<span class="_ _2"/> happens upon </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _2"/>er<span class="_ _2"/> of control <span class="_ _2"/>to the cust<span class="_ _2"/>omer a<span class="_ _2"/>t an amount<span class="_ _2"/> that<span class="_ _2"/> re-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">flects the consideration t<span class="_ _2"/>o which the Group expects to be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">entitled in exchange f<span class="_ _2"/>or<span class="_ _2"/> the goods and services<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Revenue fr<span class="_ _2"/>om shipping activities is reco<span class="_ _2"/>gnised over<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">time as the performanc<span class="_ _2"/>e obligation is satisfied,<span class="_ _2"/> including </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a share of r<span class="_ _2"/>evenue fr<span class="_ _2"/>om incomplete <span class="_ _2"/>voyages a<span class="_ _2"/>t the bal<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ance sheet dat<span class="_ _2"/>e. In<span class="_ _2"/>voiced re<span class="_ _2"/>venue relat<span class="_ _2"/>ed to an estimat<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">proportion of r<span class="_ _2"/>emaining vo<span class="_ _2"/>yage <span class="_ _2"/>time and activities at <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">destination port is def<span class="_ _2"/>erred.<span class="_ _2"/> Per<span class="_ _2"/>centage of completion </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is calculated as <span class="_ _2"/>the number of da<span class="_ _2"/>ys of a v<span class="_ _2"/>oyage as a per<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">centage of <span class="_ _2"/>the total number<span class="_ _2"/> of days a<span class="_ _2"/> voy<span class="_ _2"/>age is estimated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to last.<span class="_ _2"/> Detention and demurr<span class="_ _2"/>age fees ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised over<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">time up until the <span class="_ _2"/>time of the customer’<span class="_ _0"/>s late return or<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pick<span class="_ _2"/>-up of containers.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Revenue fr<span class="_ _2"/>om t<span class="_ _2"/>erminal operations and <span class="_ _2"/>towing activi-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ties is reco<span class="_ _2"/>gnised upon completion of the service<span class="_ _2"/>. In<span class="_ _2"/> con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tainer<span class="_ _2"/> terminals oper<span class="_ _2"/>ated under<span class="_ _2"/> certain r<span class="_ _2"/>estrictive t<span class="_ _2"/>erms </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of pricing and service,<span class="_ _2"/> etc.,<span class="_ _2"/> the v<span class="_ _2"/>alue of tangible assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">constructed on behalf of <span class="_ _2"/>the concession gr<span class="_ _2"/>antor<span class="_ _2"/> is r<span class="_ _2"/>ecog-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nised as rev<span class="_ _2"/>enue during the construction.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Revenue fr<span class="_ _2"/>om most<span class="_ _2"/> freight f<span class="_ _2"/>orwar<span class="_ _2"/>ding activities is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised over time<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Revenue fr<span class="_ _2"/>om the sale of goods is r<span class="_ _2"/>ecognised upon <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _2"/>er<span class="_ _2"/> of control <span class="_ _2"/>to the buy<span class="_ _2"/>er<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>No significant element<span class="_ _2"/> of financing is deemed presen<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as sales are made with<span class="_ _2"/> a credit<span class="_ _2"/> term o<span class="_ _2"/>f 20-45 days,<span class="_ _2"/> which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is consistent<span class="_ _2"/> with mark<span class="_ _2"/>et pr<span class="_ _2"/>actice.<span class="_ _2"/> Revenue fr<span class="_ _2"/>om sales is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised based on the price specified in <span class="_ _2"/>the contr<span class="_ _2"/>act, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">net of <span class="_ _2"/>the estimated v<span class="_ _2"/>olume discounts.<span class="_ _2"/> Accumula<span class="_ _2"/>ted </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">experience is used t<span class="_ _2"/>o estimate and pro<span class="_ _2"/>vide for<span class="_ _2"/> the dis<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">counts,<span class="_ _2"/> using the expect<span class="_ _2"/>ed value method,<span class="_ _2"/> and r<span class="_ _2"/>evenue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is only r<span class="_ _2"/>ecognised <span class="_ _2"/>to the e<span class="_ _2"/>xtent <span class="_ _2"/>that it<span class="_ _2"/> is highly pr<span class="_ _2"/>obable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">that a significan<span class="_ _2"/>t re<span class="_ _2"/>versal will not<span class="_ _2"/> occur<span class="_ _0"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:64.953125px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 557.08px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Contract<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> balances<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 367.734px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 557.004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ade receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables from r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>evenue fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om contr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>acts with customers<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 156.24px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,533<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,508</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Accrued income – contr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>act asset<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 307.98px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>192<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>263</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Deferr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed income – contract<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> liability <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 299.074px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>47<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>45</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Accrued income included in tr<span class="_ _2"/>ade r<span class="_ _2"/>eceivables in <span class="_ _2"/>the balance sheet constitutes con<span class="_ _2"/>tract<span class="_ _2"/> assets comprising unbilled </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amounts t<span class="_ _2"/>o customers repr<span class="_ _2"/>esenting the Gr<span class="_ _2"/>oup’<span class="_ _2"/>s right <span class="_ _2"/>to considera<span class="_ _2"/>tion for<span class="_ _2"/> the services <span class="_ _2"/>tr<span class="_ _2"/>ansferred <span class="_ _2"/>to date<span class="_ _2"/>. <span class="_ _2"/>Any amoun<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">previousl<span class="_ _2"/>y r<span class="_ _2"/>ecognised as accrued income is r<span class="_ _2"/>eclassified to <span class="_ _2"/>trade r<span class="_ _2"/>eceivables at<span class="_ _2"/> the <span class="_ _2"/>time the service is complet<span class="_ _2"/>ed. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deferred income is r<span class="_ _2"/>ecognised in <span class="_ _2"/>the income statement<span class="_ _2"/> within 12 months.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Under<span class="_ _2"/> the payment<span class="_ _2"/> terms g<span class="_ _2"/>eneral<span class="_ _2"/>ly applicable <span class="_ _2"/>to the Gr<span class="_ _2"/>oup’<span class="_ _2"/>s rev<span class="_ _2"/>enue-genera<span class="_ _2"/>ting activities, pr<span class="_ _2"/>epayments ar<span class="_ _2"/>e received </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">only <span class="_ _2"/>to a limit<span class="_ _2"/>ed extent.<span class="_ _2"/> T<span class="_ _2"/>ypicall<span class="_ _2"/>y<span class="_ _2"/>,<span class="_ _2"/> payment is due upon<span class="_ _2"/> or aft<span class="_ _2"/>er<span class="_ _2"/> completion of the services<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Part of <span class="_ _2"/>the deferr<span class="_ _2"/>ed income presented in<span class="_ _2"/> the balance sheet<span class="_ _2"/> constitutes contr<span class="_ _2"/>act liabilities which<span class="_ _2"/> represen<span class="_ _2"/>t advance </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments and billings in<span class="_ _2"/> excess of re<span class="_ _2"/>venue reco<span class="_ _2"/>gnised.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">There w<span class="_ _2"/>ere no significant<span class="_ _2"/> changes in accrued income and deferr<span class="_ _2"/>ed income during the r<span class="_ _2"/>eporting period.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses disclosed in not<span class="_ _2"/>e 4.5 rela<span class="_ _2"/>te t<span class="_ _2"/>o receivables arising fr<span class="_ _2"/>om contr<span class="_ _2"/>acts with cust<span class="_ _2"/>omers.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Segment<span class="_ _2"/> information</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The allocation of business activities in<span class="_ _2"/>to segments r<span class="_ _2"/>e-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">flects A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler - Maersk’<span class="_ _0"/>s character<span class="_ _2"/> as an inte<span class="_ _2"/>grat<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">container<span class="_ _2"/> logistics business and is in line with<span class="_ _2"/> the internal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">management r<span class="_ _2"/>eporting.<span class="_ _2"/> The r<span class="_ _2"/>eportable segments ar<span class="_ _2"/>e as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">follows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:204.578125px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 243.639px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Global container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> shipping activities,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> </span></span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 13.5273px; width: 177.873px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">including stra<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>tegic tr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>anshipment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> hubs</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.623px; width: 47.168px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Logistics </span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 38.1992px; width: 174.867px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Integr<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ated tr<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ansportation,<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> fulfilment </span><span style="position: absolute; display: inline-block; left: 0px; top: 54.623px; width: 50.4023px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">&amp; Services</span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 53.1992px; width: 178.723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">and management solutions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>, including </span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 68.1992px; width: 182.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">landside and air<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> tr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ansportation as wel<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>l </span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 83.2148px; width: 162.1px; white-space: pre; word-spacing: 0px; letter-spacing: 0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">as war<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ehousing and supply chain<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 98.2148px; width: 107.766px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">management off<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erings</span><span style="position: absolute; display: inline-block; left: 0px; top: 124.387px; width: 72.4746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>erminals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.5469px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 72.4746px; top: 122.887px; width: 126.697px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Gate<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>way<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> terminal activities</span><span style="position: absolute; display: inline-block; left: 0px; top: 148.982px; width: 51.3809px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>owage &amp; </span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 147.574px; width: 176.52px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>owage and rela<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ted marine activities,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 163.998px; width: 49.1953px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Maritime </span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 162.574px; width: 157.857px; white-space: pre; word-spacing: 0px; letter-spacing: 0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">production of r<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>eefer<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> containers<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>, <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 178.998px; width: 39.9434px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Services</span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 177.59px; width: 164.133px; white-space: pre; word-spacing: 0px; letter-spacing: 0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">providing offshor<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e supply<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> service <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 192.59px; width: 158.531px; white-space: pre; word-spacing: 0px; letter-spacing: 0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">and tr<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ading and other<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> businesses</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Opera<span class="_ _2"/>ting segments have not<span class="_ _2"/> been aggre<span class="_ _2"/>gated.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The reportable segmen<span class="_ _2"/>ts comprise:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ocean</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ocean activities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities under<span class="_ _2"/> Maersk Line and Aliança<span class="_ _2"/> and the retir<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">brands Hambur<span class="_ _2"/>g Süd and Sealand – <span class="_ _2"/>A Maersk company<span class="_ _0"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with ocean container<span class="_ _2"/> fr<span class="_ _2"/>eight being <span class="_ _2"/>the main rev<span class="_ _2"/>enue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">stream.<span class="_ _2"/> Ocean container<span class="_ _2"/> fr<span class="_ _2"/>eight is defined as <span class="_ _2"/>the cost-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">per-<span class="_ _2"/>weight measur<span class="_ _2"/>e of tr<span class="_ _2"/>ansporting goods on boar<span class="_ _2"/>d a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">container<span class="_ _2"/> vessel acr<span class="_ _2"/>oss the ocean,<span class="_ _2"/> including demurr<span class="_ _2"/>age </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and detention,<span class="_ _2"/> terminal handling,<span class="_ _2"/> documentation ser<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vices,<span class="_ _2"/> container<span class="_ _2"/> services as well as c<span class="_ _2"/>ontainer<span class="_ _2"/> storag<span class="_ _2"/>e.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Hub activities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities under<span class="_ _2"/> the <span class="_ _2"/>APM T<span class="_ _0"/>erminals br<span class="_ _2"/>and-gener<span class="_ _2"/>ating rev<span class="_ _2"/>e<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nue by pr<span class="_ _2"/>oviding port services onl<span class="_ _2"/>y in major<span class="_ _0"/> transhipment<span class="_ _2"/> <span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ports such <span class="_ _1"/>as <span class="_ _1"/>Maasvlakte-II,<span class="_ _2"/> Algecir<span class="_ _2"/>as,<span class="_ _2"/> T<span class="_ _0"/>angier<span class="_ _2"/>,<span class="_ _2"/> T<span class="_ _0"/>angier- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Med <span class="_ _1"/>II, Port<span class="_ _2"/> Said,<span class="_ _2"/> and joint <span class="_ _2"/>ventures in<span class="_ _2"/> Salalah and T<span class="_ _0"/>anjung </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Pelepas.<span class="_ _2"/> The r<span class="_ _2"/>espective <span class="_ _2"/>terminals are included under<span class="_ _2"/> <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ocean segment,<span class="_ _2"/> as the primary<span class="_ _2"/> purpose of those ports is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to pro<span class="_ _2"/>vide tr<span class="_ _2"/>anshipment services <span class="_ _2"/>to <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ocean business, wher<span class="_ _2"/>eas third-party<span class="_ _2"/> volumes sold <span class="_ _1"/>in those </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">locations are consider<span class="_ _2"/>ed secondary<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk Energy Markets</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Sourcing marine fuels for<span class="_ _0"/> A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s fleet and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">third-party<span class="_ _2"/> customers,<span class="_ _2"/> in addition t<span class="_ _2"/>o opera<span class="_ _2"/>ting a fuel </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">infrastructure in<span class="_ _2"/> key<span class="_ _2"/> bunker<span class="_ _0"/> ports.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Logistics &amp; Services</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Managed by Maersk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Service the suppl<span class="_ _2"/>y chain with<span class="_ _2"/> Lead Logistics (Supply Chain<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Management and 4PL),<span class="_ _2"/> Cold Chain lo<span class="_ _2"/>gistics and Custom </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Services,<span class="_ _2"/> enabling customers t<span class="_ _2"/>o control or<span class="_ _2"/> outsour<span class="_ _2"/>ce part </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of or<span class="_ _2"/> all their<span class="_ _0"/> supply chain.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fulfilled by Maersk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities such as Contr<span class="_ _2"/>act Logistics (W<span class="_ _0"/>arehousing, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Distribution and Depot) and e-commerce supporting<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">integr<span class="_ _2"/>ated ful<span class="_ _2"/>filment solutions,<span class="_ _2"/> t<span class="_ _2"/>o improv<span class="_ _2"/>e customer<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">consolidation.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _2"/>ransported by<span class="_ _2"/> Maersk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Integr<span class="_ _2"/>ated <span class="_ _2"/>transporta<span class="_ _2"/>tion solutions supported by<span class="_ _2"/> Land-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">side T<span class="_ _0"/>ransportation (In<span class="_ _2"/>termodal and Inter<span class="_ _2"/>continental Rail), </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">V<span class="_ _2"/>alue Prot<span class="_ _2"/>ect, <span class="_ _2"/>Air<span class="_ _2"/> &amp; Less Than<span class="_ _2"/> Container<span class="_ _2"/> Load (LCL),<span class="_ _2"/> Full </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Container<span class="_ _2"/> Load (FCL) and Maersk Air<span class="_ _0"/> Cargo,<span class="_ _2"/> to f<span class="_ _2"/>acilitate </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">supply chain<span class="_ _2"/> control acr<span class="_ _2"/>oss A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler<span class="_ _2"/> - Maersk.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>erminals</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>erminals activities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities in ports fully<span class="_ _2"/> or<span class="_ _2"/> partially<span class="_ _2"/> contr<span class="_ _2"/>olled by <span class="_ _2"/>the <span class="_ _2"/>APM </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>erminals brand,<span class="_ _2"/> with <span class="_ _2"/>the main rev<span class="_ _2"/>enue stream being </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">port activities not<span class="_ _2"/> considered a hub activity<span class="_ _2"/> as described </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">above.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>owage &amp; Maritime Services</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>owage activities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities under<span class="_ _2"/> the S<span class="_ _2"/>vitzer<span class="_ _2"/> brand,<span class="_ _2"/> a pr<span class="_ _2"/>ovider<span class="_ _2"/> of offshore </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">towag<span class="_ _2"/>e and marine services.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk Container<span class="_ _0"/> <span class="_ _1"/>Industry</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Manufactur<span class="_ _2"/>er <span class="_ _2"/>that pr<span class="_ _2"/>oduces reef<span class="_ _2"/>er<span class="_ _2"/> containers.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk Supply Service</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provides marine services and in<span class="_ _2"/>tegr<span class="_ _2"/>ated solutions <span class="_ _2"/>to the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">energy sect<span class="_ _2"/>or <span class="_ _2"/>worldwide with a lar<span class="_ _2"/>ge fleet of anchor<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">handling tug supply <span class="_ _2"/>vessels and subsea support<span class="_ _2"/> vessels.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The company <span class="_ _2"/>was divested in Ma<span class="_ _2"/>y 2023<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _2"/> businesses</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Consists of Maersk Growth,<span class="_ _2"/> Maersk <span class="_ _2"/>T<span class="_ _2"/>r<span class="_ _2"/>aining and other<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">services to the maritime industry.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Unallocated it<span class="_ _2"/>ems and inter-segmen<span class="_ _2"/>t re<span class="_ _2"/>venue</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Most Gr<span class="_ _2"/>oup-related c<span class="_ _2"/>osts in A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler - Maersk’<span class="_ _0"/>s corpo-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _2"/>te functions are not<span class="_ _2"/> included in the r<span class="_ _2"/>eportable segments.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">These functions are r<span class="_ _2"/>eported as unallocat<span class="_ _2"/>ed items.<span class="_ _2"/> Reve<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nue between segments is limit<span class="_ _2"/>ed, ex<span class="_ _2"/>cept for<span class="_ _0"/> the T<span class="_ _0"/>erminals </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">segment,<span class="_ _2"/> where a<span class="_ _2"/> large part<span class="_ _2"/> of the services is deliver<span class="_ _2"/>ed t<span class="_ _2"/>o </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the Ocean segment<span class="_ _2"/> as well as <span class="_ _2"/>the sale of containers fr<span class="_ _2"/>om </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk Container<span class="_ _2"/> Industry <span class="_ _2"/>to the Ocean se<span class="_ _2"/>gment.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Segment<span class="_ _2"/> information</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The allocation of business activities in<span class="_ _2"/>to segments r<span class="_ _2"/>e-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">flects A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler - Maersk’<span class="_ _0"/>s character<span class="_ _2"/> as an inte<span class="_ _2"/>grat<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">container<span class="_ _2"/> logistics business and is in line with<span class="_ _2"/> the internal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">management r<span class="_ _2"/>eporting.<span class="_ _2"/> The r<span class="_ _2"/>eportable segments ar<span class="_ _2"/>e as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">follows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:204.578125px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 243.639px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Global container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> shipping activities,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> </span></span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 13.5273px; width: 177.873px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">including stra<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>tegic tr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>anshipment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> hubs</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.623px; width: 47.168px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Logistics </span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 38.1992px; width: 174.867px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Integr<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ated tr<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ansportation,<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> fulfilment </span><span style="position: absolute; display: inline-block; left: 0px; top: 54.623px; width: 50.4023px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">&amp; Services</span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 53.1992px; width: 178.723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">and management solutions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>, including </span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 68.1992px; width: 182.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">landside and air<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> tr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ansportation as wel<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>l </span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 83.2148px; width: 162.1px; white-space: pre; word-spacing: 0px; letter-spacing: 0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">as war<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ehousing and supply chain<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 98.2148px; width: 107.766px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">management off<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erings</span><span style="position: absolute; display: inline-block; left: 0px; top: 124.387px; width: 72.4746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>erminals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.5469px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 72.4746px; top: 122.887px; width: 126.697px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Gate<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>way<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> terminal activities</span><span style="position: absolute; display: inline-block; left: 0px; top: 148.982px; width: 51.3809px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>owage &amp; </span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 147.574px; width: 176.52px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>owage and rela<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ted marine activities,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 163.998px; width: 49.1953px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Maritime </span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 162.574px; width: 157.857px; white-space: pre; word-spacing: 0px; letter-spacing: 0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">production of r<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>eefer<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> containers<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>, <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 178.998px; width: 39.9434px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Services</span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 177.59px; width: 164.133px; white-space: pre; word-spacing: 0px; letter-spacing: 0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">providing offshor<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e supply<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> service <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 72.9531px; top: 192.59px; width: 158.531px; white-space: pre; word-spacing: 0px; letter-spacing: 0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">and tr<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ading and other<span style="word-spacing: 0px; letter-spacing: 0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> businesses</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Opera<span class="_ _2"/>ting segments have not<span class="_ _2"/> been aggre<span class="_ _2"/>gated.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The reportable segmen<span class="_ _2"/>ts comprise:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ocean</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ocean activities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities under<span class="_ _2"/> Maersk Line and Aliança<span class="_ _2"/> and the retir<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">brands Hambur<span class="_ _2"/>g Süd and Sealand – <span class="_ _2"/>A Maersk company<span class="_ _0"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with ocean container<span class="_ _2"/> fr<span class="_ _2"/>eight being <span class="_ _2"/>the main rev<span class="_ _2"/>enue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">stream.<span class="_ _2"/> Ocean container<span class="_ _2"/> fr<span class="_ _2"/>eight is defined as <span class="_ _2"/>the cost-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">per-<span class="_ _2"/>weight measur<span class="_ _2"/>e of tr<span class="_ _2"/>ansporting goods on boar<span class="_ _2"/>d a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">container<span class="_ _2"/> vessel acr<span class="_ _2"/>oss the ocean,<span class="_ _2"/> including demurr<span class="_ _2"/>age </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and detention,<span class="_ _2"/> terminal handling,<span class="_ _2"/> documentation ser<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vices,<span class="_ _2"/> container<span class="_ _2"/> services as well as c<span class="_ _2"/>ontainer<span class="_ _2"/> storag<span class="_ _2"/>e.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Hub activities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities under<span class="_ _2"/> the <span class="_ _2"/>APM T<span class="_ _0"/>erminals br<span class="_ _2"/>and-gener<span class="_ _2"/>ating rev<span class="_ _2"/>e<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nue by pr<span class="_ _2"/>oviding port services onl<span class="_ _2"/>y in major<span class="_ _0"/> transhipment<span class="_ _2"/> <span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ports such <span class="_ _1"/>as <span class="_ _1"/>Maasvlakte-II,<span class="_ _2"/> Algecir<span class="_ _2"/>as,<span class="_ _2"/> T<span class="_ _0"/>angier<span class="_ _2"/>,<span class="_ _2"/> T<span class="_ _0"/>angier- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Med <span class="_ _1"/>II, Port<span class="_ _2"/> Said,<span class="_ _2"/> and joint <span class="_ _2"/>ventures in<span class="_ _2"/> Salalah and T<span class="_ _0"/>anjung </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Pelepas.<span class="_ _2"/> The r<span class="_ _2"/>espective <span class="_ _2"/>terminals are included under<span class="_ _2"/> <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ocean segment,<span class="_ _2"/> as the primary<span class="_ _2"/> purpose of those ports is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to pro<span class="_ _2"/>vide tr<span class="_ _2"/>anshipment services <span class="_ _2"/>to <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ocean business, wher<span class="_ _2"/>eas third-party<span class="_ _2"/> volumes sold <span class="_ _1"/>in those </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">locations are consider<span class="_ _2"/>ed secondary<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk Energy Markets</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Sourcing marine fuels for<span class="_ _0"/> A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s fleet and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">third-party<span class="_ _2"/> customers,<span class="_ _2"/> in addition t<span class="_ _2"/>o opera<span class="_ _2"/>ting a fuel </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">infrastructure in<span class="_ _2"/> key<span class="_ _2"/> bunker<span class="_ _0"/> ports.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Logistics &amp; Services</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Managed by Maersk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Service the suppl<span class="_ _2"/>y chain with<span class="_ _2"/> Lead Logistics (Supply Chain<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Management and 4PL),<span class="_ _2"/> Cold Chain lo<span class="_ _2"/>gistics and Custom </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Services,<span class="_ _2"/> enabling customers t<span class="_ _2"/>o control or<span class="_ _2"/> outsour<span class="_ _2"/>ce part </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of or<span class="_ _2"/> all their<span class="_ _0"/> supply chain.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fulfilled by Maersk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities such as Contr<span class="_ _2"/>act Logistics (W<span class="_ _0"/>arehousing, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Distribution and Depot) and e-commerce supporting<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">integr<span class="_ _2"/>ated ful<span class="_ _2"/>filment solutions,<span class="_ _2"/> t<span class="_ _2"/>o improv<span class="_ _2"/>e customer<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">consolidation.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _2"/>ransported by<span class="_ _2"/> Maersk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Integr<span class="_ _2"/>ated <span class="_ _2"/>transporta<span class="_ _2"/>tion solutions supported by<span class="_ _2"/> Land-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">side T<span class="_ _0"/>ransportation (In<span class="_ _2"/>termodal and Inter<span class="_ _2"/>continental Rail), </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">V<span class="_ _2"/>alue Prot<span class="_ _2"/>ect, <span class="_ _2"/>Air<span class="_ _2"/> &amp; Less Than<span class="_ _2"/> Container<span class="_ _2"/> Load (LCL),<span class="_ _2"/> Full </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Container<span class="_ _2"/> Load (FCL) and Maersk Air<span class="_ _0"/> Cargo,<span class="_ _2"/> to f<span class="_ _2"/>acilitate </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">supply chain<span class="_ _2"/> control acr<span class="_ _2"/>oss A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler<span class="_ _2"/> - Maersk.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>erminals</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>erminals activities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities in ports fully<span class="_ _2"/> or<span class="_ _2"/> partially<span class="_ _2"/> contr<span class="_ _2"/>olled by <span class="_ _2"/>the <span class="_ _2"/>APM </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>erminals brand,<span class="_ _2"/> with <span class="_ _2"/>the main rev<span class="_ _2"/>enue stream being </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">port activities not<span class="_ _2"/> considered a hub activity<span class="_ _2"/> as described </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">above.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>owage &amp; Maritime Services</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>owage activities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Activities under<span class="_ _2"/> the S<span class="_ _2"/>vitzer<span class="_ _2"/> brand,<span class="_ _2"/> a pr<span class="_ _2"/>ovider<span class="_ _2"/> of offshore </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">towag<span class="_ _2"/>e and marine services.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk Container<span class="_ _0"/> <span class="_ _1"/>Industry</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Manufactur<span class="_ _2"/>er <span class="_ _2"/>that pr<span class="_ _2"/>oduces reef<span class="_ _2"/>er<span class="_ _2"/> containers.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk Supply Service</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provides marine services and in<span class="_ _2"/>tegr<span class="_ _2"/>ated solutions <span class="_ _2"/>to the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">energy sect<span class="_ _2"/>or <span class="_ _2"/>worldwide with a lar<span class="_ _2"/>ge fleet of anchor<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">handling tug supply <span class="_ _2"/>vessels and subsea support<span class="_ _2"/> vessels.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The company <span class="_ _2"/>was divested in Ma<span class="_ _2"/>y 2023<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _2"/> businesses</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Consists of Maersk Growth,<span class="_ _2"/> Maersk <span class="_ _2"/>T<span class="_ _2"/>r<span class="_ _2"/>aining and other<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">services to the maritime industry.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Unallocated it<span class="_ _2"/>ems and inter-segmen<span class="_ _2"/>t re<span class="_ _2"/>venue</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Most Gr<span class="_ _2"/>oup-related c<span class="_ _2"/>osts in A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler - Maersk’<span class="_ _0"/>s corpo-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _2"/>te functions are not<span class="_ _2"/> included in the r<span class="_ _2"/>eportable segments.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">These functions are r<span class="_ _2"/>eported as unallocat<span class="_ _2"/>ed items.<span class="_ _2"/> Reve<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nue between segments is limit<span class="_ _2"/>ed, ex<span class="_ _2"/>cept for<span class="_ _0"/> the T<span class="_ _0"/>erminals </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">segment,<span class="_ _2"/> where a<span class="_ _2"/> large part<span class="_ _2"/> of the services is deliver<span class="_ _2"/>ed t<span class="_ _2"/>o </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the Ocean segment<span class="_ _2"/> as well as <span class="_ _2"/>the sale of containers fr<span class="_ _2"/>om </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">Maersk Container<span class="_ _2"/> Industry <span class="_ _2"/>to the Ocean se<span class="_ _2"/>gment.</span></span><span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Income statement</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Revenue f<span class="_ _2"/>or al<span class="_ _2"/>l businesses is reco<span class="_ _2"/>gnised when the perf<span class="_ _2"/>or-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mance obligation has been sa<span class="_ _2"/>tisfied, which<span class="_ _2"/> happens upon </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _2"/>er<span class="_ _2"/> of control <span class="_ _2"/>to the cust<span class="_ _2"/>omer a<span class="_ _2"/>t an amount<span class="_ _2"/> that<span class="_ _2"/> re-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">flects the consideration t<span class="_ _2"/>o which the Group expects to be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">entitled in exchange f<span class="_ _2"/>or<span class="_ _2"/> the goods and services<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Revenue fr<span class="_ _2"/>om shipping activities is reco<span class="_ _2"/>gnised over<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">time as the performanc<span class="_ _2"/>e obligation is satisfied,<span class="_ _2"/> including </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a share of r<span class="_ _2"/>evenue fr<span class="_ _2"/>om incomplete <span class="_ _2"/>voyages a<span class="_ _2"/>t the bal<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ance sheet dat<span class="_ _2"/>e. In<span class="_ _2"/>voiced re<span class="_ _2"/>venue relat<span class="_ _2"/>ed to an estimat<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">proportion of r<span class="_ _2"/>emaining vo<span class="_ _2"/>yage <span class="_ _2"/>time and activities at <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">destination port is def<span class="_ _2"/>erred.<span class="_ _2"/> Per<span class="_ _2"/>centage of completion </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is calculated as <span class="_ _2"/>the number of da<span class="_ _2"/>ys of a v<span class="_ _2"/>oyage as a per<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">centage of <span class="_ _2"/>the total number<span class="_ _2"/> of days a<span class="_ _2"/> voy<span class="_ _2"/>age is estimated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to last.<span class="_ _2"/> Detention and demurr<span class="_ _2"/>age fees ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised over<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">time up until the <span class="_ _2"/>time of the customer’<span class="_ _0"/>s late return or<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pick<span class="_ _2"/>-up of containers.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Revenue fr<span class="_ _2"/>om t<span class="_ _2"/>erminal operations and <span class="_ _2"/>towing activi-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ties is reco<span class="_ _2"/>gnised upon completion of the service<span class="_ _2"/>. In<span class="_ _2"/> con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tainer<span class="_ _2"/> terminals oper<span class="_ _2"/>ated under<span class="_ _2"/> certain r<span class="_ _2"/>estrictive t<span class="_ _2"/>erms </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of pricing and service,<span class="_ _2"/> etc.,<span class="_ _2"/> the v<span class="_ _2"/>alue of tangible assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">constructed on behalf of <span class="_ _2"/>the concession gr<span class="_ _2"/>antor<span class="_ _2"/> is r<span class="_ _2"/>ecog-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nised as rev<span class="_ _2"/>enue during the construction.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Revenue fr<span class="_ _2"/>om most<span class="_ _2"/> freight f<span class="_ _2"/>orwar<span class="_ _2"/>ding activities is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised over time<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Revenue fr<span class="_ _2"/>om the sale of goods is r<span class="_ _2"/>ecognised upon <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _2"/>er<span class="_ _2"/> of control <span class="_ _2"/>to the buy<span class="_ _2"/>er<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>No significant element<span class="_ _2"/> of financing is deemed presen<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as sales are made with<span class="_ _2"/> a credit<span class="_ _2"/> term o<span class="_ _2"/>f 20-45 days,<span class="_ _2"/> which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is consistent<span class="_ _2"/> with mark<span class="_ _2"/>et pr<span class="_ _2"/>actice.<span class="_ _2"/> Revenue fr<span class="_ _2"/>om sales is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised based on the price specified in <span class="_ _2"/>the contr<span class="_ _2"/>act, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">net of <span class="_ _2"/>the estimated v<span class="_ _2"/>olume discounts.<span class="_ _2"/> Accumula<span class="_ _2"/>ted </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">experience is used t<span class="_ _2"/>o estimate and pro<span class="_ _2"/>vide for<span class="_ _2"/> the dis<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">counts,<span class="_ _2"/> using the expect<span class="_ _2"/>ed value method,<span class="_ _2"/> and r<span class="_ _2"/>evenue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is only r<span class="_ _2"/>ecognised <span class="_ _2"/>to the e<span class="_ _2"/>xtent <span class="_ _2"/>that it<span class="_ _2"/> is highly pr<span class="_ _2"/>obable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">that a significan<span class="_ _2"/>t re<span class="_ _2"/>versal will not<span class="_ _2"/> occur<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Intangible assets<span class="ff3"> are measur<span class="_ _2"/>ed at cost<span class="_ _2"/> less accumulated </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortisation and impairment<span class="_ _2"/> losses.<span class="_ _2"/> Amortisation is cal-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">culated on a str<span class="_ _2"/>aight<span class="_ _2"/>-line basis over<span class="_ _2"/> <span class="_ _2"/>the estimated useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">life of the as<span class="_ _2"/>sets. For<span class="_ _0"/> container <span class="_ _2"/>terminals oper<span class="_ _2"/>ated under<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">certain restrictiv<span class="_ _2"/>e price and service conditions,<span class="_ _2"/> etc.,<span class="_ _2"/> con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cessional rights t<span class="_ _2"/>o collect usage char<span class="_ _2"/>ges ar<span class="_ _2"/>e included un-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">der<span class="_ _2"/> intangible assets.<span class="_ _2"/> The cost<span class="_ _2"/> includes the pr<span class="_ _2"/>esent <span class="_ _2"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of minimum payments under<span class="_ _2"/> concession agr<span class="_ _2"/>eements and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the cost of pr<span class="_ _2"/>operty<span class="_ _2"/>,<span class="_ _2"/> plant and equipment<span class="_ _2"/> constructed on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">behalf of the gr<span class="_ _2"/>antor<span class="_ _0"/> of a concession. <span class="_ _2"/>The rights are am-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ortised from <span class="_ _2"/>the commencement o<span class="_ _2"/>f operations o<span class="_ _2"/>ver<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">concession period.<span class="_ _2"/> The conces<span class="_ _2"/>sion period rang<span class="_ _2"/>es from <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">10 to 34 years<span class="_ _2"/>, with<span class="_ _2"/> an aver<span class="_ _2"/>age of 17<span class="_ _2"/> years<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span><span><span style="display:inherit;clear:left;">Goodwill and t<span class="_ _2"/>erminal rights have indefinite useful </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives while all other<span class="_ _0"/> classes have definite lives.<span class="_ _2"/> Intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets re<span class="_ _2"/>garding acquir<span class="_ _2"/>ed customer<span class="_ _2"/> relationships and<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">technology ar<span class="_ _2"/>e amortised over<span class="_ _2"/> a useful lif<span class="_ _2"/>e of 10-24 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">years and 5-<span class="_ _2"/>10 <span class="_ _2"/>years,<span class="_ _2"/> respectivel<span class="_ _2"/>y<span class="_ _2"/>. In<span class="_ _2"/>ternally<span class="_ _2"/> developed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">IT<span class="_ _2"/> software is amortised o<span class="_ _2"/>ver<span class="_ _2"/> a useful life of 5 <span class="_ _2"/>years.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses<span class="ff3"> are r<span class="_ _2"/>ecognised when<span class="_ _2"/> the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an as<span class="_ _2"/>set or<span class="_ _2"/> a cash-gener<span class="_ _2"/>ating unit e<span class="_ _2"/>xceeds the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">higher<span class="_ _2"/> of the estimated <span class="_ _2"/>value in use and f<span class="_ _2"/>air <span class="_ _2"/>value less<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">costs of disposal. Goodwil<span class="_ _2"/>l is attributed <span class="_ _2"/>to cash- <span class="_ _4"/>generating </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">units on acquisition and impair<span class="_ _2"/>ed before other<span class="_ _0"/> assets. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Intangible assets and property<span class="_ _0"/>, plant and equipment<span class="_ _2"/> are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tested for<span class="_ _0"/> impairment if ther<span class="_ _2"/>e is an indication of impair<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment.<span class="_ _2"/> However<span class="_ _0"/>, annual impairment<span class="_ _2"/> tests ar<span class="_ _2"/>e carried out f<span class="_ _2"/>or </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">goodwill and other<span class="_ _2"/> intangible assets with inde<span class="_ _2"/>finite useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives as wel<span class="_ _2"/>l as intangible assets that<span class="_ _2"/> are not<span class="_ _2"/> yet<span class="_ _2"/> in use.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses ar<span class="_ _2"/>e included in deprecia<span class="_ _2"/>tion, amortisa-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion and impairment,<span class="_ _2"/> net, in <span class="_ _2"/>the income statement.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Property<span class="_ _0"/>, plant and equipmen<span class="_ _2"/>t are <span class="_ _2"/>valued at<span class="_ _2"/> cost less ac<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cumulated depr<span class="_ _2"/>eciation and impairment losses<span class="_ _2"/>. Depr<span class="_ _2"/>ecia-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion is charged <span class="_ _2"/>to <span class="_ _2"/>the income statement<span class="_ _2"/> on a str<span class="_ _2"/>aight-line </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">basis over<span class="_ _2"/> the useful lif<span class="_ _2"/>e at an estima<span class="_ _2"/>ted residual <span class="_ _2"/>value.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The useful lives of new assets ar<span class="_ _2"/>e typicall<span class="_ _2"/>y as fol<span class="_ _2"/>lows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:213.392578125px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 204.674px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">V<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>essels,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> etc.<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">20-25 years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 20.4336px; width: 186.322px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Containers,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> etc.<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 74.0509px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">15 years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 40.8555px; width: 203.443px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Buildings<span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">10-50 years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 61.2773px; width: 271.107px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>erminal infrastructure<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">10-30 years or<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> concession </span></span><span style="position: absolute; display: inline-block; left: 148px; top: 71.7773px; width: 77.7656px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">period, if short<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>er</span><span style="position: absolute; display: inline-block; left: 0px; top: 93.623px; width: 120.398px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">W<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>arehouses and related <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 148px; top: 92.1992px; width: 119.713px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">5-25 years,<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> or lease term,<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 105.639px; width: 70.4824px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">infrastructur<span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>e </span><span style="position: absolute; display: inline-block; left: 148px; top: 104.215px; width: 43.377px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">if shorter</span><span style="position: absolute; display: inline-block; left: 0px; top: 126.061px; width: 99.2754px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Aircr<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>aft and relat<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>ed <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 148px; top: 130.637px; width: 49.8574px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">3-30 years</span><span style="position: absolute; display: inline-block; left: 0px; top: 138.061px; width: 61.4824px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">components </span><span style="position: absolute; display: inline-block; left: 0px; top: 158.482px; width: 136.102px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Plant and machinery<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>, cr<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>anes </span><span style="position: absolute; display: inline-block; left: 148px; top: 163.059px; width: 49.4062px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">5-25 years</span><span style="position: absolute; display: inline-block; left: 0px; top: 170.482px; width: 143.959px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">and other<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> terminal equipment</span><span style="position: absolute; display: inline-block; left: 0px; top: 190.904px; width: 135.422px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> operating equipment,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 148px; top: 195.48px; width: 41.8066px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">3-<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>7<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> years</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.904px; width: 61.3359px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">fixtures,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> etc.</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Estimated useful lives and r<span class="_ _2"/>esidual v<span class="_ _2"/>alues are r<span class="_ _2"/>eassessed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on a r<span class="_ _2"/>egular<span class="_ _2"/> basis.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The cost of an asset<span class="_ _2"/> is divided into separ<span class="_ _2"/>ate compo-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nents,<span class="_ _2"/> which ar<span class="_ _2"/>e depreciated separ<span class="_ _2"/>atel<span class="_ _2"/>y if <span class="_ _2"/>the useful life </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the individual component<span class="_ _2"/> differs.<span class="_ _2"/> Dry<span class="_ _2"/>-docking costs </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _2"/>ecognised in <span class="_ _2"/>the carrying amount of <span class="_ _2"/>vessels when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">incurred and depr<span class="_ _2"/>eciated over<span class="_ _0"/> the period until the next<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dry-docking.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The cost of assets construct<span class="_ _2"/>ed by <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">includes directl<span class="_ _2"/>y attributable expenses.<span class="_ _2"/> For<span class="_ _2"/> assets with<span class="_ _2"/> a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">long construction period,<span class="_ _2"/> borrowing costs during <span class="_ _2"/>the con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">struction period from<span class="_ _2"/> specific as well as gener<span class="_ _2"/>al borro<span class="_ _2"/>w-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ings are attribut<span class="_ _2"/>ed to cost.<span class="_ _2"/> In addition,<span class="_ _2"/> the cost<span class="_ _2"/> includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the net pr<span class="_ _2"/>esent <span class="_ _2"/>value of estimated costs o<span class="_ _2"/>f remov<span class="_ _2"/>al and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">restor<span class="_ _2"/>ation.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Right-of<span class="_ _2"/>-use assets<span class="ff3"> are mainl<span class="_ _2"/>y leased <span class="_ _2"/>vessels,<span class="_ _2"/> containers,<span class="_ _2"/> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">concession arr<span class="_ _2"/>angements and real esta<span class="_ _2"/>te property<span class="_ _0"/>. Lease </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contr<span class="_ _2"/>acts for<span class="_ _2"/> vessels and con<span class="_ _2"/>tainers are <span class="_ _2"/>typically<span class="_ _2"/> made </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _2"/> fixed periods of about<span class="_ _2"/> five years<span class="_ _2"/>, but<span class="_ _2"/> may hav<span class="_ _2"/>e exten-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sion options as described t<span class="_ _2"/>ogether<span class="_ _2"/> with lease liabilities.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Concession arr<span class="_ _2"/>angements and real esta<span class="_ _2"/>te contr<span class="_ _2"/>acts are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">negotiat<span class="_ _2"/>ed on an individual basis and contain a <span class="_ _2"/>wide </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rang<span class="_ _2"/>e of terms and conditions<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Leases are r<span class="_ _2"/>ecognised as a right<span class="_ _2"/>-of-use asset<span class="_ _2"/> with a <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">corresponding lease liability<span class="_ _2"/> at <span class="_ _2"/>the date on which<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">leased asset is av<span class="_ _2"/>ailable for<span class="_ _2"/> use.<span class="_ _2"/> The righ<span class="_ _2"/>t-of-use asset<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is depreciat<span class="_ _2"/>ed over<span class="_ _2"/> the shorter<span class="_ _0"/> of the asset’s useful lif<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the lease <span class="_ _2"/>term on a str<span class="_ _2"/>aight<span class="_ _2"/>-line basis.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Payments associat<span class="_ _2"/>ed with short<span class="_ _2"/>-t<span class="_ _2"/>erm leases and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">leases of low-<span class="_ _2"/>value assets ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised on a str<span class="_ _2"/>aight<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">line basis as an expense in <span class="_ _2"/>the income statement.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Acquisition/<span class="_ _2"/>sale of subsidiaries and activities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Upon acquisition of new entities<span class="_ _2"/>, <span class="_ _2"/>the acquired assets<span class="_ _2"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities and contingent<span class="_ _2"/> liabilities are measur<span class="_ _2"/>ed at fair<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value at<span class="_ _2"/> the date <span class="_ _2"/>when control <span class="_ _2"/>was achieved using <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acquisition method.<span class="_ _2"/> Identifiable intangible assets are r<span class="_ _2"/>ec<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ognised if the<span class="_ _2"/>y arise fr<span class="_ _2"/>om a contr<span class="_ _2"/>actual right or<span class="_ _2"/> can oth-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">erwise be separa<span class="_ _2"/>tely<span class="_ _2"/> identified. <span class="_ _2"/>The differ<span class="_ _2"/>ence between </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the fair<span class="_ _2"/> v<span class="_ _2"/>alue of the acquisition cost<span class="_ _2"/> and the f<span class="_ _2"/>air<span class="_ _2"/> value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acquired identifiable net<span class="_ _2"/> assets is reco<span class="_ _2"/>gnised as goodwill.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Contingent<span class="_ _2"/> consideration<span class="_ _2"/> is measured at<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">any subsequent<span class="_ _2"/> changes <span class="_ _2"/>to contingent<span class="_ _2"/> considera<span class="_ _2"/>tion </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _2"/>ecognised as financial income or<span class="_ _2"/> financial expense </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the income sta<span class="_ _2"/>tement.<span class="_ _2"/> If contingent c<span class="_ _2"/>onsideration is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">settled by issuing a<span class="_ _2"/> predetermined number<span class="_ _2"/> of shar<span class="_ _2"/>es,<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contingent<span class="_ _2"/> considera<span class="_ _2"/>tion is classified as equity and is sub-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sequently<span class="_ _2"/> not r<span class="_ _2"/>emeasured at<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue. <span class="_ _2"/>T<span class="_ _0"/>ransaction costs </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _2"/>ecognised as oper<span class="_ _2"/>ating costs as the<span class="_ _2"/>y are incurr<span class="_ _2"/>ed.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">When <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk ceases t<span class="_ _2"/>o have contr<span class="_ _2"/>ol of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a subsidiary<span class="_ _2"/>,<span class="_ _2"/> the <span class="_ _2"/>value of any<span class="_ _2"/> retained inv<span class="_ _2"/>estment is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">remeasur<span class="_ _2"/>ed at f<span class="_ _2"/>air <span class="_ _2"/>value,<span class="_ _2"/> and <span class="_ _2"/>the value adjustment<span class="_ _2"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised in the income stat<span class="_ _2"/>ement as a gain/los<span class="_ _2"/>s on the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sale of non-current<span class="_ _2"/> assets.<span class="_ _2"/> The diff<span class="_ _2"/>erence between<span class="_ _2"/> sales </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">proceeds and <span class="_ _2"/>the carrying amount of <span class="_ _2"/>the subsidiary is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised in the income stat<span class="_ _2"/>ement including fair<span class="_ _0"/> value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contingent<span class="_ _2"/> considera<span class="_ _2"/>tion at <span class="_ _2"/>the time of sale.<span class="_ _2"/> Contingent<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considera<span class="_ _2"/>tion is remeasur<span class="_ _2"/>ed at f<span class="_ _2"/>air <span class="_ _2"/>value with<span class="_ _2"/> changes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised in the income stat<span class="_ _2"/>ement. <span class="_ _2"/>The effect<span class="_ _2"/> of the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">purchase and sale of non-contr<span class="_ _2"/>olling int<span class="_ _2"/>erests without<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes in contr<span class="_ _2"/>ol is included directl<span class="_ _2"/>y in equity<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Assets held for<span class="_ _0"/> sale<span class="ff3"> are recognised <span class="_ _2"/>when the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an individual non-curr<span class="_ _2"/>ent<span class="_ _2"/> asset, or<span class="_ _2"/> disposal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">group of assets<span class="_ _2"/>, is r<span class="_ _2"/>ecover<span class="_ _2"/>ed principally<span class="_ _2"/> thr<span class="_ _2"/>ough a sales </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transaction<span class="_ _2"/> rather<span class="_ _0"/> than thr<span class="_ _2"/>ough continued use.<span class="_ _2"/> Assets<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are classified as held f<span class="_ _2"/>or sale <span class="_ _2"/>when activities to carry<span class="_ _2"/> out<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a sale have been initia<span class="_ _2"/>ted, <span class="_ _2"/>when the activities ar<span class="_ _2"/>e avail<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">able for<span class="_ _2"/> immediate sale in <span class="_ _2"/>their<span class="_ _2"/> present<span class="_ _2"/> condition, and<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">when the activities ar<span class="_ _2"/>e expected <span class="_ _2"/>to be disposed of within </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">12 months.<span class="_ _2"/> Liabilities directl<span class="_ _2"/>y ass<span class="_ _2"/>ocia<span class="_ _2"/>ted<span class="_ _2"/> wit<span class="_ _2"/>h as<span class="_ _2"/>sets<span class="_ _2"/> held<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _2"/> sale are pr<span class="_ _2"/>esented separ<span class="_ _2"/>atel<span class="_ _2"/>y from<span class="_ _2"/> other liabilities<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Assets held for<span class="_ _2"/> sale are measur<span class="_ _2"/>ed at <span class="_ _2"/>the lower<span class="_ _2"/> of carry<span class="_ _2"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ing amount immediat<span class="_ _2"/>ely bef<span class="_ _2"/>ore classification<span class="_ _2"/> as held for<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sale and fair<span class="_ _2"/> v<span class="_ _2"/>alue less costs to sel<span class="_ _2"/>l. Impairmen<span class="_ _2"/>t t<span class="_ _2"/>ests are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">performed immediatel<span class="_ _2"/>y befor<span class="_ _2"/>e classification as held f<span class="_ _2"/>or </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sale.<span class="_ _2"/> Non-current<span class="_ _2"/> assets are not<span class="_ _2"/> depreciated or<span class="_ _0"/> amortised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">while classified as held for<span class="_ _2"/> sale.<span class="_ _2"/> Measurement<span class="_ _2"/> of deferr<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax and financial assets and liabilities is unchanged.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>When an asset<span class="_ _2"/> or a<span class="_ _2"/> disposal group has been classified </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as held for<span class="_ _2"/> sale or<span class="_ _2"/> distribution, but<span class="_ _2"/> the r<span class="_ _2"/>equirements ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">no longer<span class="_ _2"/> met, <span class="_ _2"/>the assets and rela<span class="_ _2"/>ted liabilities ceases to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">be classified as held for<span class="_ _2"/> sale.<span class="_ _2"/> The c<span class="_ _2"/>essation of the classi-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fication as held for<span class="_ _2"/> sale wil<span class="_ _2"/>l be reflected in<span class="_ _2"/> the period in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which the change o<span class="_ _2"/>f circumstances has occurr<span class="_ _2"/>ed. Com-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">para<span class="_ _2"/>tive figures ar<span class="_ _2"/>e not r<span class="_ _2"/>estated,<span class="_ _2"/> and any adjustments </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the carrying <span class="_ _2"/>value of assets and liabilities pr<span class="_ _2"/>eviously<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">classified as held for<span class="_ _2"/> sale are r<span class="_ _2"/>ecognised in <span class="_ _2"/>the period in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which the cir<span class="_ _2"/>cumstances have changed.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provisions<span class="ff3"> ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised when <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk has a </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">present<span class="_ _2"/> legal or<span class="_ _2"/> constructive oblig<span class="_ _2"/>ation from past<span class="_ _2"/> events<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The item includes,<span class="_ _2"/> among other<span class="_ _2"/> things<span class="_ _2"/>, le<span class="_ _2"/>gal disputes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and provisions f<span class="_ _2"/>or<span class="_ _2"/> onerous contr<span class="_ _2"/>acts and unfav<span class="_ _2"/>ourable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contr<span class="_ _2"/>acts acquired as part<span class="_ _2"/> of a business combination.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provisions ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised based on best estimat<span class="_ _2"/>es and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are discount<span class="_ _2"/>ed where <span class="_ _2"/>the time element<span class="_ _2"/> is significant and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">where <span class="_ _2"/>the time of settlement<span class="_ _2"/> is reasonabl<span class="_ _2"/>y determinable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Earnings per<span class="_ _2"/> share<span class="ff3"> is calculat<span class="_ _2"/>ed as A.P<span class="_ _4"/>. Møller<span class="_ _0"/> - Mærsk A/S’<span class="_ _0"/> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">share of <span class="_ _2"/>the profit<span class="_ _2"/> for<span class="_ _2"/> the <span class="_ _2"/>year<span class="_ _2"/> divided by <span class="_ _2"/>the aver<span class="_ _2"/>age </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">number<span class="_ _2"/> of shares outstanding (of DKK 1,000 each),<span class="_ _2"/> ex<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cluding A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler - Maersk’<span class="_ _0"/>s holding of treasury shar<span class="_ _2"/>es.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Diluted earnings per<span class="_ _2"/> share ar<span class="_ _2"/>e adjusted for<span class="_ _0"/> the dilutive </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">effect of <span class="_ _2"/>the aver<span class="_ _2"/>age number<span class="_ _2"/> of restricted shar<span class="_ _2"/>es,<span class="_ _2"/> perfor<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mance shares and shar<span class="_ _2"/>e options outstanding as issued by </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">the parent<span class="_ _2"/> company<span class="_ _0"/>.</span></span> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Equity<span class="ff3 ws0"> includes total compr<span class="_ _2"/>ehensive income for<span class="_ _0"/> the year<span class="_ _0"/> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprising the pr<span class="_ _2"/>ofit for<span class="_ _0"/> the year<span class="_ _2"/> and other<span class="_ _2"/> comprehen<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sive income.<span class="_ _2"/> Proceeds on<span class="_ _2"/> the purchase and sale of <span class="_ _2"/>treasury<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">shares and dividend fr<span class="_ _2"/>om such shares ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equity<span class="_ _2"/>.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The tr<span class="_ _2"/>anslation r<span class="_ _2"/>eserve is comprised of <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">share of accumulat<span class="_ _2"/>ed exchange r<span class="_ _2"/>ate differ<span class="_ _2"/>ences arising </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on tr<span class="_ _2"/>anslation from functional cur<span class="_ _2"/>r<span class="_ _2"/>enc<span class="_ _2"/>y<span class="_ _2"/> in<span class="_ _2"/>to<span class="_ _2"/> pr<span class="_ _0"/>esen<span class="_ _2"/>ta<span class="_ _2"/>ti<span class="_ _2"/>on<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currency<span class="_ _0"/>. <span class="_ _2"/>The reserve for<span class="_ _0"/> other equity in<span class="_ _2"/>vestments is com<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prised of accumulated changes in the fair value o<span class="_ _1"/>f eq<span class="_ _1"/>uit<span class="_ _1"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">investments (at<span class="_ _2"/> FVOCI),<span class="_ _2"/> net of <span class="_ _2"/>tax. R<span class="_ _2"/>eserves for<span class="_ _2"/> hedges </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">includes the <span class="_ _2"/>accumulated f<span class="_ _2"/>air <span class="_ _2"/>value ch<span class="_ _1"/>ange o<span class="_ _1"/>f de<span class="_ _1"/>rivati<span class="_ _1"/>ves </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">qualifying for<span class="_ _2"/> cash flow hedge a<span class="_ _2"/>ccou<span class="_ _2"/>ntin<span class="_ _2"/>g,<span class="_ _2"/> les<span class="_ _2"/>s amo<span class="_ _2"/>unts<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">already<span class="_ _2"/> reclassified <span class="_ _2"/>to the income stat<span class="_ _2"/>ement or<span class="_ _2"/> <span class="_ _2"/>trans<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fer<span class="_ _1"/>red<span class="_ _1"/> a<span class="_ _1"/>s<span class="_ _1"/> b<span class="_ _1"/>as<span class="_ _1"/>is<span class="_ _1"/> a<span class="_ _1"/>d<span class="_ _1"/>ju<span class="_ _1"/>st<span class="_ _1"/>ments,<span class="_ _2"/> net of tax,<span class="_ _2"/> as wel<span class="_ _2"/>l as forwar<span class="_ _2"/>d </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">points and currency<span class="_ _2"/> basi<span class="_ _1"/>s sp<span class="_ _1"/>read.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial liabilities<span class="ff3"> are initially<span class="_ _2"/> reco<span class="_ _2"/>gnised at f<span class="_ _2"/>air <span class="_ _2"/>value less </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transaction<span class="_ _2"/> costs.<span class="_ _2"/> Subsequently<span class="_ _0"/>, the financial liabilities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are measur<span class="_ _2"/>ed at amortised cost<span class="_ _2"/> using the eff<span class="_ _2"/>ective inter<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">est method,<span class="_ _2"/> wher<span class="_ _2"/>eby <span class="_ _2"/>transaction costs and an<span class="_ _2"/>y pr<span class="_ _2"/>emium </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _2"/> discount ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised as financial expenses over<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">term of <span class="_ _2"/>the liabilities. Fix<span class="_ _2"/>ed interest<span class="_ _2"/> loans subject <span class="_ _2"/>to fair<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value hedge accoun<span class="_ _2"/>ting are measured a<span class="_ _2"/>t amortised cost<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with an adjustment<span class="_ _2"/> for<span class="_ _2"/> the fair<span class="_ _0"/> value of the hedg<span class="_ _2"/>ed inter<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">est component.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Lease liabilities<span class="ff3"> ar<span class="_ _2"/>e measured at<span class="_ _2"/> the presen<span class="_ _2"/>t <span class="_ _2"/>value of the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lease payments over<span class="_ _0"/> the lease term,<span class="_ _2"/> at <span class="_ _2"/>the inter<span class="_ _2"/>est r<span class="_ _2"/>ate </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">implicit in <span class="_ _2"/>the lease,<span class="_ _2"/> or<span class="_ _2"/> at <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s incremen-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tal borrowing r<span class="_ _2"/>ate (IBR).<span class="_ _2"/> <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s IBR reflects </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the Group’<span class="_ _2"/>s cr<span class="_ _2"/>edit risk,<span class="_ _2"/> leased amount, and con<span class="_ _2"/>tract<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dura<span class="_ _2"/>tion, as w<span class="_ _2"/>ell as the natur<span class="_ _2"/>e and quality of <span class="_ _2"/>the asset’<span class="_ _2"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">security and economic envir<span class="_ _2"/>onment in<span class="_ _2"/> which the leased </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets opera<span class="_ _2"/>te.<span class="_ _2"/> T<span class="_ _0"/>o determine <span class="_ _2"/>the IBR, <span class="_ _2"/>where possible,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk uses recent<span class="_ _2"/> thir<span class="_ _2"/>d-party financing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">received b<span class="_ _2"/>y the individual les<span class="_ _2"/>see as a starting point, <span class="_ _2"/>with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">adjustments t<span class="_ _2"/>o reflect chang<span class="_ _2"/>es in financing conditions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">since that<span class="_ _2"/> financing was r<span class="_ _2"/>eceived.<span class="_ _2"/> Wher<span class="_ _2"/>e such financing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is not av<span class="_ _2"/>ailable,<span class="_ _2"/> A.P<span class="_ _4"/>. Moller<span class="_ _0"/> - Maersk uses a build-up ap-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">proach <span class="_ _2"/>that starts <span class="_ _2"/>with a risk<span class="_ _2"/>- free int<span class="_ _2"/>erest<span class="_ _2"/> rat<span class="_ _2"/>e adjusted </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by cr<span class="_ _2"/>edit risk and specific risks f<span class="_ _2"/>aced by <span class="_ _2"/>the lessee such </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as asset type,<span class="_ _2"/> geogr<span class="_ _2"/>aphical risks,<span class="_ _2"/> etc.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Subsequently<span class="_ _0"/>, the lease liability<span class="_ _2"/> is measured at<span class="_ _2"/> amor-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tised cost with<span class="_ _2"/> each lease payment<span class="_ _2"/> allocated between <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">repaymen<span class="_ _2"/>t of the liability<span class="_ _2"/> and financing cost.<span class="_ _2"/> The finance </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost is char<span class="_ _2"/>ged to <span class="_ _2"/>the income statement<span class="_ _2"/> over<span class="_ _2"/> <span class="_ _2"/>the lease </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">period, using <span class="_ _2"/>the IBR that<span class="_ _2"/> was used <span class="_ _2"/>to discount<span class="_ _2"/> the lease </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The following lease pa<span class="_ _2"/>yments are included in <span class="_ _2"/>the net </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">present<span class="_ _2"/> value:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span>fixed payments (including in-substance fix<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments),<span class="_ _2"/> less any lease incen<span class="_ _2"/>tives receiv<span class="_ _2"/>able</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span>variable lease paymen<span class="_ _2"/>ts that<span class="_ _2"/> are based on an index </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">o<span class="_ _1"/>r a<span class="_ _1"/> ra<span class="_ _1"/>t<span class="_ _1"/>e</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span>amounts expected <span class="_ _2"/>to be pay<span class="_ _2"/>able by <span class="_ _2"/>the lessee under<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">residual v<span class="_ _2"/>alue guarantees</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span><span class="ws0">the exercise price of a<span class="_ _2"/> purchase option if <span class="_ _2"/>the lessee is </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reasonabl<span class="_ _2"/>y certain <span class="_ _2"/>to exer<span class="_ _2"/>cise that<span class="_ _2"/> option, and pay<span class="_ _0"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments of penalties f<span class="_ _2"/>or <span class="_ _2"/>terminating <span class="_ _2"/>the lease,<span class="_ _2"/> if the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lease term<span class="_ _2"/> reflects the les<span class="_ _2"/>see exercising <span class="_ _2"/>that option.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Extension and <span class="_ _2"/>termination options in lease contr<span class="_ _2"/>acts ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">included in contr<span class="_ _2"/>acts where it<span class="_ _2"/> is reasonabl<span class="_ _2"/>y certain <span class="_ _2"/>that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _3"/>. Moller - M<span class="_ _1"/>aers<span class="_ _1"/>k will exercise <span class="_ _2"/>the options.<span class="_ _2"/> These <span class="_ _2"/>terms </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are used <span class="_ _2"/>to maximise oper<span class="_ _2"/>ational flexibility in <span class="_ _2"/>terms of<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">managing contr<span class="_ _2"/>acts. In<span class="_ _2"/> determining the lease <span class="_ _2"/>term,<span class="_ _2"/> Man-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">agement c<span class="_ _2"/>onsiders all facts and cir<span class="_ _2"/>cumstances that<span class="_ _2"/> cre-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ate an economic incentiv<span class="_ _2"/>e to ex<span class="_ _2"/>ercise an ext<span class="_ _2"/>ension option </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _2"/> to not<span class="_ _2"/> exercise a<span class="_ _2"/> termination<span class="_ _2"/> option. Extension<span class="_ _2"/> opti<span class="_ _1"/>ons </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(or<span class="_ _2"/> periods after<span class="_ _2"/> termination<span class="_ _2"/> options) are only<span class="_ _2"/> included </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the lease <span class="_ _2"/>term if it<span class="_ _2"/> is reasonably<span class="_ _2"/> certain tha<span class="_ _2"/>t the lease<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">will be extended or<span class="_ _0"/> not terminate<span class="_ _2"/>. Most<span class="_ _2"/> of the ext<span class="_ _2"/>en<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sion and t<span class="_ _2"/>ermination options held are ex<span class="_ _2"/>ercisable only<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk and not<span class="_ _2"/> by <span class="_ _2"/>the respective lessor<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">This assessment is r<span class="_ _2"/>eviewed if a significan<span class="_ _2"/>t event<span class="_ _2"/> or<span class="_ _2"/> a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">significant change in<span class="_ _2"/> circumstances occurs which<span class="_ _2"/> affects </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">this assessment,<span class="_ _2"/> and which is within <span class="_ _2"/>the control of <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lessee.<span class="_ _2"/> Wher<span class="_ _2"/>e A.P<span class="_ _4"/>. Moller<span class="_ _0"/> - Maersk will probably<span class="_ _2"/> exer<span class="_ _2"/>cise </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">specific purchase options,<span class="_ _2"/> <span class="_ _2"/>those options are included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the measurement<span class="_ _2"/> of the lease liability<span class="_ _2"/> with corr<span class="_ _2"/>esponding </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">right<span class="_ _2"/>-of-use asset depr<span class="_ _2"/>eciated over<span class="_ _0"/> the asset’s useful lif<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _2"/>ther than<span class="_ _2"/> lease term.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Pension obligations<span class="ff3"> are <span class="_ _2"/>the net liabilities of defined benefit </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">obligations and the dedica<span class="_ _2"/>ted assets adjusted for<span class="_ _0"/> the <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">effect o<span class="_ _2"/>f minimum funding and asset ceiling r<span class="_ _2"/>equire<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments.<span class="_ _2"/> Plans with a funding surplus ar<span class="_ _2"/>e present<span class="_ _2"/>ed as net </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets on the balance sheet.<span class="_ _2"/> <span class="_ _2"/>The defined benefit obliga-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tions are measur<span class="_ _2"/>ed at <span class="_ _2"/>the present<span class="_ _2"/> v<span class="_ _2"/>alue of expected </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">future paymen<span class="_ _2"/>ts to be made in r<span class="_ _2"/>espect of services pr<span class="_ _2"/>o-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vided by emplo<span class="_ _2"/>yees up to <span class="_ _2"/>the balance sheet dat<span class="_ _2"/>e.<span class="_ _2"/> Plan </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets are measur<span class="_ _2"/>ed at f<span class="_ _2"/>air <span class="_ _2"/>value<span class="_ _2"/>. <span class="_ _2"/>The pension cost<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">charged <span class="_ _2"/>to the income sta<span class="_ _2"/>tement consists o<span class="_ _2"/>f calculated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amounts for<span class="_ _2"/> v<span class="_ _2"/>ested benefits and inter<span class="_ _2"/>est in addition <span class="_ _2"/>to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">settlement of g<span class="_ _2"/>ains or losses<span class="_ _2"/>, et<span class="_ _2"/>c. Int<span class="_ _2"/>erest on<span class="_ _2"/> plan assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is calculated at<span class="_ _2"/> the same r<span class="_ _2"/>ates as used for<span class="_ _0"/> discounting the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">obliga <span class="_ _4"/>tions. <span class="_ _2"/>Actuarial gains/losses ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised in other<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprehensive inc<span class="_ _2"/>ome. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Pensi<span class="_ _1"/>on p<span class="_ _1"/>lans<span class="_ _1"/> whe<span class="_ _1"/>re A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler - Maersk,<span class="_ _2"/> as part<span class="_ _2"/> of col-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lective barg<span class="_ _2"/>aining agreements,<span class="_ _2"/> participates <span class="_ _2"/>together<span class="_ _0"/> with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other<span class="_ _2"/> enterprises – so called mul<span class="_ _2"/>ti-employer<span class="_ _2"/> plans – are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">treat<span class="_ _2"/>ed as other pension<span class="_ _2"/> plans in the financial stat<span class="_ _2"/>ements. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Defined benefit mul<span class="_ _2"/>ti-employer<span class="_ _2"/> plans,<span class="_ _2"/> where sufficien<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">information <span class="_ _2"/>to apply<span class="_ _2"/> defined benefit accoun<span class="_ _2"/>ting is not </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">available<span class="_ _2"/>, ar<span class="_ _2"/>e tr<span class="_ _2"/>eated as defined contribution plans<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Derivative financial instruments<span class="ff3"> are reco<span class="_ _2"/>gnised on the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trading da<span class="_ _2"/>te and measured at<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue using gener<span class="_ _2"/>ally<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acknowledged v<span class="_ _2"/>aluation <span class="_ _2"/>techniques based on rele<span class="_ _2"/>vant </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">observable swap curv<span class="_ _2"/>es and exchange r<span class="_ _2"/>ates.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The effective portion of chang<span class="_ _2"/>es in the <span class="_ _2"/>value of deriv<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ative financial instruments designat<span class="_ _2"/>ed to hedge highl<span class="_ _2"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">probable futur<span class="_ _2"/>e tr<span class="_ _2"/>ansactions is reco<span class="_ _2"/>gnised in other<span class="_ _2"/> com-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prehensive income un<span class="_ _2"/>til the hedged <span class="_ _2"/>transactions ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">realised.<span class="_ _2"/> A<span class="_ _2"/>t that<span class="_ _2"/> time, the accumulated gains/losses are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _2"/>erred to the items in which the hedged trans <span class="_ _4"/>actions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _2"/>ecognised.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The effective portion<span class="_ _2"/> of changes in the <span class="_ _2"/>value of de<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rivative financial instrumen<span class="_ _2"/>ts used to hedge <span class="_ _2"/>the v<span class="_ _2"/>alue of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised financial assets and liabilities is recognised in<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _2"/> to<span class="_ _2"/>gether<span class="_ _2"/> with changes in <span class="_ _2"/>the fair<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value of <span class="_ _2"/>the hedged assets or<span class="_ _2"/> liabilities that<span class="_ _2"/> can be attrib<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">uted t<span class="_ _2"/>o the hedging rela<span class="_ _2"/>tionship. Curr<span class="_ _2"/>ency basis spr<span class="_ _2"/>ead </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and forwar<span class="_ _2"/>d points are consider<span class="_ _2"/>ed a cost<span class="_ _2"/> of hedging and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised in other<span class="_ _2"/> comprehensive income and def<span class="_ _2"/>erred </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equity until r<span class="_ _2"/>ealisation.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The ineffective portion of hedg<span class="_ _2"/>e tr<span class="_ _2"/>ansactions and changes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the f<span class="_ _2"/>air <span class="_ _2"/>values of deriv<span class="_ _2"/>ative financial instruments,<span class="_ _2"/> which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">do not qualify<span class="_ _2"/> for<span class="_ _2"/> hedge accounting,<span class="_ _2"/> are r<span class="_ _2"/>ecognised in <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement<span class="_ _2"/> as financial income or<span class="_ _2"/> expenses for<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inter<span class="_ _2"/>est and currency<span class="_ _0"/>-based instruments, and as other<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income/<span class="_ _2"/>costs for<span class="_ _0"/> oil price hedges and forward fr<span class="_ _2"/>eight </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">agreements<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ta<span class="_ _5"/>x<span class="_ _1"/><span class="ff3 ls9 ws0"> comprises an estimate of current<span class="_ _2"/> and deferred in<span class="ls0">-</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">come tax as well as <span class="_ _1"/>adjustments to previous years taxes<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Income tax is <span class="_ _2"/>tax on taxable pr<span class="_ _2"/>ofits,<span class="_ _2"/> and consists of cor-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pora<span class="_ _2"/>tion tax,<span class="_ _2"/> withholding tax of dividends<span class="_ _2"/>, et<span class="_ _2"/>c. In addition,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax comprises tonnag<span class="_ _2"/>e tax.<span class="_ _2"/> T<span class="_ _0"/>onnage <span class="_ _2"/>tax is classified as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax when cr<span class="_ _2"/>editable in, or<span class="_ _2"/> paid in lieu of<span class="_ _0"/>, income tax.<span class="_ _2"/> <span class="_ _2"/>T<span class="_ _0"/>ax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is reco<span class="_ _2"/>gnised in the income stat<span class="_ _2"/>ement <span class="_ _2"/>to the ext<span class="_ _2"/>ent <span class="_ _2"/>that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">it<span class="_ _2"/> arises from it<span class="_ _2"/>ems recognised in<span class="_ _2"/> the income stat<span class="_ _2"/>ement,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">including tax on gains on intr<span class="_ _2"/>a-group <span class="_ _2"/>tr<span class="_ _2"/>ansactions that<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">have been eliminat<span class="_ _2"/>ed in the consolidation.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deferred tax<span class="ff3"> is calculated on<span class="_ _2"/> tempor<span class="_ _2"/>ary diff<span class="_ _2"/>erences be-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tween the carrying amoun<span class="_ _2"/>ts and tax bases of assets and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities.<span class="_ _2"/> Deferred <span class="_ _2"/>tax is not r<span class="_ _2"/>ecognised for<span class="_ _0"/> differences </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on the initial r<span class="_ _2"/>ecognition of assets or<span class="_ _0"/> liabilities, wher<span class="_ _2"/>e at </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the time of the transaction neither<span class="_ _2"/> accounting nor taxable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">profit/loss is aff<span class="_ _2"/>ected, unless <span class="_ _2"/>the differ<span class="_ _2"/>ences arise in a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">business combination.<span class="_ _2"/> In addition, no def<span class="_ _2"/>erred <span class="_ _2"/>tax is rec<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ognised for<span class="_ _2"/> undistributed earnings in<span class="_ _2"/> subsidiaries,<span class="_ _2"/> when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk controls <span class="_ _2"/>the timing of dividends<span class="_ _2"/>. No </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">taxable dividends are curr<span class="_ _2"/>ently<span class="_ _2"/> expected.<span class="_ _2"/> A<span class="_ _2"/> deferr<span class="_ _2"/>ed tax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">asset is r<span class="_ _2"/>ecognised t<span class="_ _2"/>o the exten<span class="_ _2"/>t <span class="_ _2"/>that it<span class="_ _2"/> is probable tha<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">it can be utilised within a for<span class="_ _2"/>eseeable future<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Equity<span class="_ _2"/>-settled performance shares<span class="_ _2"/>, r<span class="_ _2"/>estricted shares </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and share options gr<span class="_ _2"/>anted <span class="_ _2"/>to members of the Ex<span class="_ _2"/>ecutive </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Board and <span class="_ _2"/>to employees of <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk as part of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s long-term<span class="_ _2"/> incentive pro<span class="_ _2"/>gramme ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised as remuner<span class="_ _2"/>ation expenses over<span class="_ _0"/> the vesting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">period as per <span class="_ _2"/>the estimated fair<span class="_ _2"/> <span class="_ _2"/>value at<span class="_ _2"/> the gr<span class="_ _2"/>ant dat<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and resul<span class="_ _2"/>t in a corr<span class="_ _2"/>esponding adjustment <span class="_ _2"/>to equity<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">At<span class="_ _2"/> the end of each r<span class="_ _2"/>eporting period, <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">revises its estima<span class="_ _2"/>ted number<span class="_ _2"/> of awar<span class="_ _2"/>ds that<span class="_ _2"/> are expect<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to v<span class="_ _2"/>est based on <span class="_ _2"/>the non-market<span class="_ _2"/> vesting conditions and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">service conditions.<span class="_ _2"/> An<span class="_ _2"/>y impact o<span class="_ _2"/>f the re<span class="_ _2"/>vision is reco<span class="_ _2"/>gnised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the income sta<span class="_ _2"/>tement <span class="_ _2"/>with a corresponding adjustment<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to equity<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Cash flow<span class="ff3"> from<span class="_ _2"/> operating activities includes al<span class="_ _2"/>l cash </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transactions other<span class="_ _0"/> than cash flows arising from<span class="_ _2"/> investing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and financing activities such as investments and div<span class="_ _2"/>est<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments,<span class="_ _2"/> received dividends<span class="_ _2"/>, principal pa<span class="_ _2"/>yments of loans,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">instalments on lease liabilities,<span class="_ _2"/> paid and receiv<span class="_ _2"/>ed financial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">items and equity <span class="_ _2"/>transactions<span class="_ _2"/>. C<span class="_ _2"/>apitalisation of borro<span class="_ _2"/>wing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">costs is considered as a non-cash<span class="_ _2"/> item,<span class="_ _2"/> and the actual </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments of <span class="_ _2"/>these borrowing costs ar<span class="_ _2"/>e included in cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">flow from financing.</span></span><span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Cash and cash equiv<span class="_ _2"/>alents comprise cash and bank <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">balances net of bank ov<span class="_ _2"/>erdr<span class="_ _2"/>afts where o<span class="_ _2"/>verdr<span class="_ _2"/>aft<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">facilities form an<span class="_ _2"/> integr<span class="_ _2"/>al part of <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller - Maersk’s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash management.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 1.<span class="_ _2"/>1 <span class="_ _67"> </span> <span class="_"> </span>General ac<span class="_ _2"/>counting policies</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Basis of prepar<span class="_ _2"/>ation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The consolidated financial statemen<span class="_ _2"/>ts for<span class="_ _2"/> 2023 for<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>.<span class="_ _2"/> Moll<span class="_ _2"/>er<span class="_ _2"/> - Ma<span class="_ _2"/>ersk<span class="_ _2"/> have been prepar<span class="_ _2"/>ed on a going con<span class="ls0 ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cern basis and in accor<span class="_ _2"/>dance with IFRS <span class="_ _2"/>Accounting Stand-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ards as adopted b<span class="_ _2"/>y the EU and additional Danish<span class="_ _2"/> disclo<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sure r<span class="_ _2"/>equirements f<span class="_ _2"/>or list<span class="_ _2"/>ed companies.<span class="_ _2"/> The consolidat<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">financial statements of <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk are included </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the consolida<span class="_ _2"/>ted financial statements o<span class="_ _2"/>f <span class="_ _2"/>A.P<span class="_ _4"/>.<span class="_ _2"/> Møl<span class="_ _2"/>ler<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">Holding A/S<span class="_ _2"/>.</span></span><span class="_ _2"/> <span><span style="display:inherit;clear:left;">The acc<span class="_ _2"/>ounting policies are consisten<span class="_ _2"/>t with </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">those applied in the consolida<span class="_ _2"/>ted financial statements f<span class="_ _2"/>or<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2022, e<span class="_ _2"/>xcept for<span class="_ _0"/> the changes to accoun<span class="_ _2"/>ting standards <span class="_ _2"/>that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">were eff<span class="_ _2"/>ective from 1 <span class="_ _2"/>January 2023 and <span class="_ _2"/>were endorsed by<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the EU.<span class="_ _2"/> The chang<span class="_ _2"/>es have not had a ma<span class="_ _2"/>terial impact on <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">financial statements.</span></span><span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ESEF<span class="_ _2"/>/iXBRL r<span class="_ _2"/>eporting</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Møller<span class="_ _2"/> - Mærsk A/S is r<span class="_ _2"/>equired <span class="_ _2"/>to pr<span class="_ _2"/>epare and file the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">annual report<span class="_ _2"/> in the Eur<span class="_ _2"/>opean Single Electronic Form<span class="_ _2"/>at<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(ESEF), and <span class="_ _2"/>the annual report<span class="_ _2"/> for<span class="_ _2"/> 2023 is ther<span class="_ _2"/>efor<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prepar<span class="_ _2"/>ed in the XHTML<span class="_ _2"/> format<span class="_ _2"/> tha<span class="_ _2"/>t can be displayed in<span class="_ _2"/> a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">standard br<span class="_ _2"/>owser<span class="_ _0"/>. <span class="_ _2"/>The primary statemen<span class="_ _2"/>ts and the notes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the consolida<span class="_ _2"/>ted financial statements ar<span class="_ _2"/>e tagged using </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inline eXtensible Business Reporting Language (iXBRL).<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The iXBRL tags comply<span class="_ _2"/> with the ESEF taxonomy<span class="_ _0"/>, which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is included in the ESEF<span class="_ _0"/> Regulation and developed based </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on the IFRS <span class="_ _2"/>taxonomy<span class="_ _2"/> published by <span class="_ _2"/>the IFRS Foundation. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Where a financial stat<span class="_ _2"/>ement line item<span class="_ _2"/> or<span class="_ _2"/> note is not de<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fined in the ESEF taxonomy<span class="_ _0"/>, an extension to the taxonomy<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">has been creat<span class="_ _2"/>ed. Ext<span class="_ _2"/>ensions are anchor<span class="_ _2"/>ed to elements </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the ESEF<span class="_ _0"/> taxonomy<span class="_ _0"/>, except f<span class="_ _2"/>or<span class="_ _2"/> extensions which ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">subtotals.<span class="_ _2"/> The <span class="_ _2"/>Annual Report<span class="_ _2"/> submitted t<span class="_ _2"/>o the Danish </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial Supervisory Authority<span class="_ _2"/> consists of the XHTML<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">document <span class="_ _2"/>together<span class="_ _0"/> with certain technical files<span class="_ _2"/>, all in<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cluded in a file named <span class="_ _2"/>APMM-2023-<span class="_ _2"/>12-31-en.zip.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Consolidation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The consolidated financial statemen<span class="_ _2"/>ts comprise the <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">parent<span class="_ _2"/> company <span class="_ _2"/>A.P<span class="_ _4"/>. Møller<span class="_ _0"/> - Mærsk A/S,<span class="_ _2"/> its subsidiaries </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and proportionat<span class="_ _2"/>e shares in joint<span class="_ _2"/> arrang<span class="_ _2"/>ements classified </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as joint oper<span class="_ _2"/>ations.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Subsidiaries are entities con<span class="_ _2"/>trolled by<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Møller<span class="_ _2"/> - Mærsk A/S<span class="_ _0"/>. Control is based on <span class="_ _2"/>the power<span class="_ _2"/> t<span class="_ _2"/>o </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">direct<span class="_ _2"/> the r<span class="_ _2"/>elevant<span class="_ _2"/> activities of an entity and <span class="_ _2"/>the expo<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sure,<span class="_ _2"/> or<span class="_ _2"/> right,<span class="_ _2"/> to <span class="_ _2"/>variable r<span class="_ _2"/>eturns arising from it.<span class="_ _2"/> In tha<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">connection, r<span class="_ _2"/>elevan<span class="_ _2"/>t activities ar<span class="_ _2"/>e those tha<span class="_ _2"/>t significantly<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">affect <span class="_ _2"/>the investee<span class="_ _2"/>’s r<span class="_ _2"/>eturns.<span class="_ _2"/> Control is usual<span class="_ _2"/>ly achie<span class="_ _2"/>ved </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by dir<span class="_ _2"/>ectly<span class="_ _2"/> or indir<span class="_ _2"/>ectly<span class="_ _2"/> owning or<span class="_ _2"/> in other<span class="_ _2"/> way<span class="_ _2"/>s control<span class="_ _2"/>ling </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">more <span class="_ _2"/>than 50% of the <span class="_ _2"/>voting rights or<span class="_ _2"/> by other<span class="_ _0"/> rights, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">such as agreements on<span class="_ _2"/> management con<span class="_ _2"/>trol.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Joint<span class="_ _2"/> arrangements ar<span class="_ _2"/>e entities in which<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _0"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk,<span class="_ _2"/> according <span class="_ _2"/>to contr<span class="_ _2"/>actual agreements </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with one or<span class="_ _2"/> more other<span class="_ _2"/> parties,<span class="_ _2"/> has joint<span class="_ _2"/> control.<span class="_ _2"/> <span class="_ _2"/>The </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">arrang<span class="_ _2"/>ements are classified as joint<span class="_ _2"/> ven<span class="_ _2"/>tures,<span class="_ _2"/> if the<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contr<span class="_ _2"/>acting parties’<span class="_ _0"/> rights are limited to net<span class="_ _2"/> assets in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the separa<span class="_ _2"/>te legal entities<span class="_ _2"/>, and as joint<span class="_ _2"/> opera<span class="_ _2"/>tions,<span class="_ _2"/> if the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">parties have dir<span class="_ _2"/>ect and unlimited rights <span class="_ _2"/>to the assets and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">obligations for<span class="_ _0"/> the liabilities of the arr<span class="_ _2"/>angement. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Entities in which <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk exer<span class="_ _2"/>cises a signif-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">icant but<span class="_ _2"/> non-control<span class="_ _2"/>ling influence are consider<span class="_ _2"/>ed associ-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ated companies.<span class="_ _2"/> <span class="_ _2"/>A significant<span class="_ _2"/> influence is usuall<span class="_ _2"/>y achieved </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by dir<span class="_ _2"/>ectly<span class="_ _2"/> or indir<span class="_ _2"/>ectly<span class="_ _2"/> owning or<span class="_ _2"/> control<span class="_ _2"/>ling 20-50% of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the voting rights<span class="_ _2"/>. <span class="_ _2"/>Agreemen<span class="_ _2"/>ts and other cir<span class="_ _2"/>cumstances </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are consider<span class="_ _2"/>ed when assessing <span class="_ _2"/>the degree of influenc<span class="_ _2"/>e. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Consolidation is performed by<span class="_ _2"/> summarising the finan-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cial statements of <span class="_ _2"/>the parent<span class="_ _2"/> company and its subsidiar<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ies in accordanc<span class="_ _2"/>e with <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s accounting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">policies.<span class="_ _2"/> Intra-gr<span class="_ _2"/>oup income and expenses,<span class="_ _2"/> shar<span class="_ _2"/>eholdings, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dividends,<span class="_ _2"/> intra-gr<span class="_ _2"/>oup balances and gains on intr<span class="_ _2"/>a-gr<span class="_ _2"/>oup </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transactions ar<span class="_ _2"/>e eliminated.<span class="_ _2"/> Unrealised g<span class="_ _2"/>ains on tr<span class="_ _2"/>ansac<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tions with associated c<span class="_ _2"/>ompanies and joint arr<span class="_ _2"/>angements </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are eliminat<span class="_ _2"/>ed in proportion <span class="_ _2"/>to <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">owner <span class="_ _4"/>ship share.<span class="_ _2"/> Unrealised losses ar<span class="_ _2"/>e eliminated in <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">same way<span class="_ _2"/> unless the<span class="_ _2"/>y indicate impairment.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Non-control<span class="_ _2"/>ling inter<span class="_ _2"/>ests’<span class="_ _0"/> share of profit/loss for<span class="_ _0"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">year<span class="_ _2"/> and of equity in subsidiaries is included as part<span class="_ _2"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s profit<span class="_ _2"/> and equity respectiv<span class="_ _2"/>ely but<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">shown as separ<span class="_ _2"/>ate items.</span></span><span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Foreign currency<span class="_ _2"/> translation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The consolidated financial statemen<span class="_ _2"/>ts are pr<span class="_ _2"/>esented </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in USD,<span class="_ _2"/> the functional curr<span class="_ _2"/>ency of <span class="_ _2"/>the parent<span class="_ _2"/> company<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In the tr<span class="_ _2"/>anslation to the presentation<span class="_ _2"/> currency for<span class="_ _2"/> sub-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sidiaries,<span class="_ _2"/> associates or<span class="_ _2"/> joint arr<span class="_ _2"/>angements <span class="_ _2"/>with func<span class="_ _0"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tional currencies other<span class="_ _2"/> <span class="_ _2"/>than USD,<span class="_ _2"/> the <span class="_ _2"/>total comprehensiv<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income is tr<span class="_ _2"/>anslated int<span class="_ _2"/>o USD at a<span class="_ _2"/>verag<span class="_ _2"/>e exchange r<span class="_ _2"/>ates,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the balance sheet<span class="_ _2"/> is tr<span class="_ _2"/>anslated at<span class="_ _2"/> the exchang<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _2"/>tes as at <span class="_ _2"/>the balance sheet dat<span class="_ _2"/>e. Ex<span class="_ _2"/>change ra<span class="_ _2"/>te dif<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fer<span class="_ _2"/>en<span class="_ _2"/>ces <span class="_ _2"/>arising from such <span class="_ _2"/>transla<span class="_ _2"/>tions are r<span class="_ _2"/>ecognised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">directl<span class="_ _2"/>y in other<span class="_ _2"/> compr<span class="_ _2"/>ehensive income and in a separ<span class="_ _2"/>ate </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reserve of equity<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The functional currency<span class="_ _2"/> varies fr<span class="_ _2"/>om business ar<span class="_ _2"/>ea to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">business area.<span class="_ _2"/> For<span class="_ _2"/> A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler<span class="_ _2"/> - Maersk’s principal shipping </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">activities,<span class="_ _2"/> the functional curr<span class="_ _2"/>ency is typical<span class="_ _2"/>ly USD<span class="_ _2"/>.<span class="_ _2"/> This </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">means,<span class="_ _2"/> among other <span class="_ _2"/>things,<span class="_ _2"/> that<span class="_ _2"/> the carrying amounts </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of property<span class="_ _0"/>, plant and equipmen<span class="_ _2"/>t and intangible assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and, hence<span class="_ _2"/>, depr<span class="_ _2"/>eciation and amortisation,<span class="_ _2"/> are maintained </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in USD fr<span class="_ _2"/>om the dat<span class="_ _2"/>e of acquisition. For<span class="_ _0"/> other activities,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">including container<span class="_ _2"/> terminal activities and land-based<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">logistics activities,<span class="_ _2"/> the functional curr<span class="_ _2"/>ency is gener<span class="_ _2"/>all<span class="_ _2"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the local currency<span class="_ _2"/> of the country<span class="_ _2"/> in which such activities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are performed,<span class="_ _2"/> unless cir<span class="_ _2"/>cumstances suggest a diff<span class="_ _2"/>erent<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currency<span class="_ _2"/> is appropriate<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>T<span class="_ _2"/>r<span class="_ _2"/>ansactions in currencies other<span class="_ _0"/> than the functional </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currency<span class="_ _2"/> are <span class="_ _2"/>translat<span class="_ _2"/>ed at <span class="_ _2"/>the exchange r<span class="_ _2"/>ate pr<span class="_ _2"/>evailing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">at <span class="_ _2"/>the date of <span class="_ _2"/>the tr<span class="_ _2"/>ansaction. Monetary<span class="_ _2"/> items in for<span class="_ _2"/>eign </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currencies not<span class="_ _2"/> settled at <span class="_ _2"/>the balance sheet date ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transla<span class="_ _2"/>ted at <span class="_ _2"/>the exchange r<span class="_ _2"/>ate as at<span class="_ _2"/> the balance sheet<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">date.<span class="_ _2"/> Foreign<span class="_ _2"/> exchange gains and losses ar<span class="_ _2"/>e included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">the income statement<span class="_ _2"/> as financial income or<span class="_ _2"/> expenses.</span></span><span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Share of<span class="_ _2"/> profit/lo<span class="_ _2"/>ss in associated companies and joint v<span class="_ _2"/>en-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tures<span class="ff3"> is reco<span class="_ _2"/>gnised net of <span class="_ _2"/>tax and corrected f<span class="_ _2"/>or<span class="_ _2"/> the share </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of unrealised intr<span class="_ _2"/>a-gr<span class="_ _2"/>oup gains and losses.<span class="_ _2"/> The it<span class="_ _2"/>em also </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprises any impairmen<span class="_ _2"/>t losses for<span class="_ _0"/> such investments </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">and their<span class="_ _2"/> reversal.</span></span><span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Statement<span class="_ _2"/> of comprehensive income</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _2"/> comprehensive income consists of g<span class="_ _2"/>ains and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">losses not r<span class="_ _2"/>ecognised in <span class="_ _2"/>the income statement,<span class="_ _2"/> including </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">exchange r<span class="_ _2"/>ate adjustments arising fr<span class="_ _2"/>om the <span class="_ _2"/>tr<span class="_ _2"/>anslation </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">from functional curr<span class="_ _2"/>ency <span class="_ _2"/>to presen<span class="_ _2"/>tation currency<span class="_ _0"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _2"/> v<span class="_ _2"/>alue adjustments of other<span class="_ _2"/> equity inv<span class="_ _2"/>estments (at </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">FVOCI),<span class="_ _2"/> cash flow hedges,<span class="_ _2"/> forw<span class="_ _2"/>ard points and curr<span class="_ _2"/>ency </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">basis spread as w<span class="_ _2"/>ell as actuarial gains/losses on defined </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">benefit plans,<span class="_ _2"/> etc.<span class="_ _2"/> <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s share of other<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprehensive inc<span class="_ _2"/>ome in associated companies and joint </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ventur<span class="_ _2"/>es is also included. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>On disposal or<span class="_ _2"/> discontinuation of an<span class="_ _2"/> entity<span class="_ _2"/>,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s share of <span class="_ _2"/>the accumulated exchange </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _2"/>te adjustments relating <span class="_ _2"/>to <span class="_ _2"/>the relev<span class="_ _2"/>ant entity<span class="_ _2"/> with a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">functional currency<span class="_ _2"/> other<span class="_ _2"/> than USD<span class="_ _2"/>, is r<span class="_ _2"/>eclassified to <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement.<span class="_ _2"/> <span class="_ _2"/>Accumulated v<span class="_ _2"/>alue adjustments of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">equity instruments classified as equity<span class="_ _2"/> instruments at f<span class="_ _2"/>air<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value <span class="_ _2"/>through other<span class="_ _2"/> comprehensiv<span class="_ _2"/>e income will r<span class="_ _2"/>emain </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equity upon disposal. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Other<span class="_ _2"/> comprehensiv<span class="_ _2"/>e income includes current<span class="_ _2"/> and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">deferr<span class="_ _2"/>ed income tax to the <span class="_ _1"/>extent<span class="_ _2"/> that the items rec<span class="_ _0"/><span class="ls0 ws0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ognised in other<span class="_ _2"/> compr<span class="_ _2"/>ehensive income are <span class="_ _2"/>taxable or<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">deductible.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Balance sheet</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Investments in associa<span class="_ _2"/>ted companies and joint <span class="_ _2"/>ventur<span class="_ _2"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are recogn<span class="_ _1"/>ised<span class="_ _1"/> as<span class="_ _1"/> A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler - Maersk’<span class="_ _0"/>s share of the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">equity <span class="_ _2"/>value inclusive of goodwil<span class="_ _2"/>l less any impairment<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">losses.<span class="_ _2"/> Goodwill is an inte<span class="_ _2"/>gral part<span class="_ _2"/> of the <span class="_ _2"/>value of associ-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ated companies and joint<span class="_ _2"/> ventur<span class="_ _2"/>es and is ther<span class="_ _2"/>efor<span class="_ _2"/>e sub-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ject to an impairment test<span class="_ _2"/> tog<span class="_ _2"/>ether with the investment.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses ar<span class="_ _2"/>e rev<span class="_ _2"/>ersed to <span class="_ _2"/>the extent<span class="_ _2"/> the original </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">value is consider<span class="_ _2"/>ed recov<span class="_ _2"/>erable.</span></span><span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span><span><span style="display:inherit;clear:left;">Equity instrumen<span class="_ _2"/>ts etc., including shar<span class="_ _2"/>es,<span class="_ _2"/> bonds <span class="ls0"> </span></span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and similar<span class="_ _2"/> securities, ar<span class="_ _2"/>e rec<span class="_ _2"/>ognised on the <span class="_ _2"/>tr<span class="_ _2"/>ading <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">date at<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue,<span class="_ _2"/> and subsequently measur<span class="_ _2"/>ed at <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">quoted mark<span class="_ _2"/>et price for<span class="_ _0"/> listed securities and at esti<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mated <span class="_ _1"/>fair<span class="_ _2"/> v<span class="_ _2"/>alue for<span class="_ _2"/> non-listed securities.<span class="_ _2"/> F<span class="_ _2"/>air <span class="_ _2"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">adju<span class="_ _2"/>stmen<span class="_ _2"/>ts fr<span class="_ _2"/>om equity in<span class="_ _2"/>vestments at f<span class="_ _2"/>air<span class="_ _2"/> value<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">through other<span class="_ _2"/> compr<span class="_ _2"/>ehensive income (FVOCI) r<span class="_ _2"/>emain <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equ<span class="_ _2"/>ity u<span class="_ _2"/>pon disposal.<span class="_ _2"/> Dividends are r<span class="_ _2"/>ecognised in<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">the income statemen<span class="_ _2"/>t.</span></span><span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span><span><span style="display:inherit;clear:left;">Invent<span class="_ _2"/>ories mainly consist<span class="_ _2"/> of bunk<span class="_ _2"/>er<span class="_ _0"/>, spare parts not<span class="_ _2"/> </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">qualifying for<span class="_ _2"/> property<span class="_ _0"/>, plant<span class="_ _2"/> and equipment, and other<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cons<span class="_ _1"/>umab<span class="_ _1"/>les. Inventories ar<span class="_ _2"/>e measured at<span class="_ _2"/> the lower<span class="_ _0"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost and net<span class="_ _2"/> realisable <span class="_ _2"/>value,<span class="_ _2"/> primarily<span class="_ _2"/> according <span class="_ _2"/>to the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">FIFO method.<span class="_ _2"/> The cost<span class="_ _2"/> of finished goods and work in<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">progress includes dir<span class="_ _2"/>ect and indir<span class="_ _2"/>ect pr<span class="_ _2"/>oduction costs.</span></span><span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span><span><span style="display:inherit;clear:left;">Loans and receiv<span class="_ _2"/>ables are initiall<span class="_ _2"/>y r<span class="_ _2"/>ecognised at<span class="_ _2"/> fair<span class="_ _2"/> </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value,<span class="_ _2"/> plus any<span class="_ _2"/> direct<span class="_ _2"/> tr<span class="_ _2"/>ansaction costs,<span class="_ _2"/> and subsequently<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">measured at<span class="_ _2"/> amortised cost using <span class="_ _2"/>the effective int<span class="_ _2"/>erest </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">method. For<span class="_ _0"/> loans and other rec<span class="_ _2"/>eivables,<span class="_ _2"/> write-downs ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">made for<span class="_ _2"/> expected losses based on specific individual or<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">group assessments<span class="_ _2"/>. For<span class="_ _0"/> trade r<span class="_ _2"/>eceivables,<span class="_ _2"/> the loss al<span class="_ _2"/>low-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ance is measured by<span class="_ _2"/> the simplified appr<span class="_ _2"/>oach accor<span class="_ _2"/>ding </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to IFRS 9<span class="_ _2"/>, appl<span class="_ _2"/>ying a provision<span class="_ _2"/> matrix to calculat<span class="_ _2"/>e the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">expected lifetime losses<span class="_ _2"/>. <span class="_ _2"/>The pro<span class="_ _2"/>vision matrix includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">an impairment f<span class="_ _2"/>or<span class="_ _2"/> non-due receiv<span class="_ _2"/>ables.</span></span><span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Climate-relat<span class="_ _2"/>ed risks</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">When preparing <span class="_ _2"/>the consolidated financial stat<span class="_ _2"/>ements,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Management c<span class="_ _2"/>onsiders climate-relat<span class="_ _2"/>ed risks,<span class="_ _2"/> where <span class="_ _2"/>these </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">could potentiall<span class="_ _2"/>y impact<span class="_ _2"/> reported amounts ma<span class="_ _2"/>terially<span class="_ _0"/>. <span class="_ _2"/>The </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">areas <span class="_ _1"/>in whi<span class="_ _1"/>ch A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk has assessed climate<span class="_ _1"/>- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">relat<span class="_ _2"/>ed risks at <span class="_ _2"/>the end of 2023 are included in <span class="_ _2"/>the indi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vidual notes outlined below:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Note 3<span class="_ _2"/>.2 – Property<span class="_ _0"/>, plant and equipment</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">New financial reporting requir<span class="_ _2"/>ements</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _3"/>. Moller - M<span class="_ _1"/>aers<span class="_ _1"/>k has not yet<span class="_ _2"/> adopted new or<span class="_ _2"/> amended </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">accounting standards and r<span class="_ _2"/>equiremen<span class="_ _2"/>ts that<span class="_ _2"/> have not<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">yet become eff<span class="_ _2"/>ective.<span class="_ _2"/> The chang<span class="_ _2"/>es to IFRS <span class="_ _2"/>Accounting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Standards ar<span class="_ _2"/>e not expect<span class="_ _2"/>ed to ha<span class="_ _2"/>ve any significant<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impa<span class="_ _1"/>ct on recognition<span class="_ _2"/> and measurement.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Amendments to IAS 12 Income <span class="_ _2"/>T<span class="_ _0"/>axes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In May<span class="_ _2"/> 2023,<span class="_ _2"/> the IASB issued amendments <span class="_ _2"/>to IAS 12 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Income T<span class="_ _0"/>axes<span class="_ _2"/>, which<span class="_ _2"/> provides <span class="_ _2"/>tempor<span class="_ _2"/>ary relief fr<span class="_ _2"/>om <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">requir<span class="_ _2"/>ement <span class="_ _2"/>to reco<span class="_ _2"/>gnise and disclose deferr<span class="_ _2"/>ed taxes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">arising from enact<span class="_ _2"/>ed or substan<span class="_ _2"/>tively<span class="_ _2"/> enacted tax law<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">that implements <span class="_ _2"/>the Pillar<span class="_ _2"/> <span class="_ _2"/>T<span class="_ _2"/>wo Model Rules published by<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the OECD,<span class="_ _2"/> including tax la<span class="_ _2"/>w that<span class="_ _2"/> implements qualified </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">domestic minimum t<span class="_ _2"/>op-up taxes.<span class="_ _2"/> <span class="_ _2"/>The amendments have </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">been adopted by<span class="_ _2"/> the EU and <span class="_ _2"/>the company has applied </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">this relief<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Deferred <span class="_ _2"/>tax rela<span class="_ _2"/>ted to assets and liabilities <span class="_ _2"/>arising from </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a single tr<span class="_ _2"/>ansaction: <span class="_ _2"/>The amendments narrow <span class="_ _2"/>the scope of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the initial reco<span class="_ _2"/>gnition exception so <span class="_ _2"/>that it<span class="_ _2"/> no longer<span class="_ _2"/> applies </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to tr<span class="_ _2"/>ansactions tha<span class="_ _2"/>t give rise <span class="_ _2"/>to equal taxable and deduct<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ible tempor<span class="_ _2"/>ary diff<span class="_ _2"/>erences such as leases and deco<span class="_ _1"/>m-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">missioning liabilities.<span class="_ _2"/> The amendments ha<span class="_ _2"/>ve no m<span class="_ _2"/>ate<span class="_ _2"/>rial<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impact on <span class="_ _2"/>the Group’<span class="_ _2"/>s consolidated financial sta<span class="_ _2"/>tements.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments measured at<span class="_ _2"/> fair<span class="_ _2"/> value</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments measured at<span class="_ _2"/> fair<span class="_ _2"/> <span class="_ _2"/>value can be divided into <span class="_ _2"/>three lev<span class="_ _2"/>els:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 1 <span class="_ _20"> </span>— <span class="_ _3"/>Quoted prices (unadjusted) in<span class="_ _2"/> active markets f<span class="_ _2"/>or iden<span class="_ _2"/>tical assets or<span class="_ _2"/> liabilities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 2 — <span class="_ _4"/>Inputs other <span class="_ _2"/>than quoted prices included in le<span class="_ _2"/>vel 1 that<span class="_ _2"/> are observ<span class="_ _2"/>able for<span class="_ _2"/> the asset<span class="_ _2"/> or<span class="_ _2"/> liability<span class="_ _2"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">either<span class="_ _2"/> directly<span class="_ _2"/> (i.e.<span class="_ _2"/> as prices) or<span class="_ _2"/> indirectl<span class="_ _2"/>y (i.e<span class="_ _2"/>. derived fr<span class="_ _2"/>om prices) and</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 3 — <span class="_ _4"/>Inputs for<span class="_ _2"/> the asset<span class="_ _2"/> or liability<span class="_ _2"/> that<span class="_ _2"/> are not<span class="_ _2"/> based on observable mark<span class="_ _2"/>et data.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fair<span class="_ _0"/> value of listed securities is within<span class="_ _2"/> level 1 of the f<span class="_ _2"/>air<span class="_ _2"/> value hier<span class="_ _2"/>arch<span class="_ _2"/>y<span class="_ _2"/>.<span class="_ _2"/> Non-listed shares and other<span class="_ _0"/> securities are within </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">level 3 of <span class="_ _2"/>the fair<span class="_ _2"/> v<span class="_ _2"/>alue hierar<span class="_ _2"/>chy<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fair<span class="_ _0"/> value of derivativ<span class="_ _2"/>es is mainly <span class="_ _2"/>within level 2 of <span class="_ _2"/>the fair<span class="_ _2"/> v<span class="_ _2"/>alue hierar<span class="_ _2"/>chy and is calculat<span class="_ _2"/>ed based on observable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market<span class="_ _2"/> data as of the end o<span class="_ _2"/>f the reporting period.<span class="_ _2"/> <span class="_ _2"/>A minor<span class="_ _0"/> amount of crude oil price derivatives is <span class="_ _2"/>within level 1 of <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _2"/> value hier<span class="_ _2"/>archy<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fair<span class="_ _0"/> value of level 3 assets and liabilities is primaril<span class="_ _2"/>y based on <span class="_ _2"/>the present<span class="_ _2"/> v<span class="_ _2"/>alue of expected future cash<span class="_ _2"/> flows.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A r<span class="_ _2"/>easonably<span class="_ _2"/> possible change in the discoun<span class="_ _2"/>t r<span class="_ _2"/>ate is not<span class="_ _2"/> estimated t<span class="_ _2"/>o affect <span class="_ _2"/>the Group’<span class="_ _2"/>s pro<span class="_ _2"/>fit or<span class="_ _2"/> equity significantl<span class="_ _2"/>y<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments carried at amortised cost</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fair<span class="_ _0"/> value of the short<span class="_ _0"/>-term financial assets and other<span class="_ _2"/> financial liabilities carried at amortised c<span class="_ _2"/>ost is not ma<span class="_ _2"/>terially<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">differen<span class="_ _2"/>t fr<span class="_ _2"/>om the carrying amount.<span class="_ _2"/> In gener<span class="_ _2"/>al,<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue is determined primarily<span class="_ _2"/> based on the pr<span class="_ _2"/>esent <span class="_ _2"/>value of expected </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">future cash flow<span class="_ _2"/>s. <span class="_ _2"/>Where a mark<span class="_ _2"/>et pric<span class="_ _2"/>e was av<span class="_ _2"/>ailable,<span class="_ _2"/> however<span class="_ _0"/>, <span class="_ _2"/>this was deemed <span class="_ _2"/>to be the f<span class="_ _2"/>air <span class="_ _2"/>value.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fair<span class="_ _0"/> value of listed issued bonds is within<span class="_ _2"/> level 1 of the f<span class="_ _2"/>air<span class="_ _2"/> value hier<span class="_ _2"/>ar<span class="_ _2"/>chy<span class="_ _2"/>.<span class="_ _2"/> Fair<span class="_ _0"/> value of the r<span class="_ _2"/>emaining borrowing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">items is within lev<span class="_ _2"/>el 2 of the fair<span class="_ _0"/> value hier<span class="_ _2"/>archy<span class="_ _2"/> and is calculated based on discount<span class="_ _2"/>ed future cash flows<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Income statement</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Revenue f<span class="_ _2"/>or al<span class="_ _2"/>l businesses is reco<span class="_ _2"/>gnised when the perf<span class="_ _2"/>or-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mance obligation has been sa<span class="_ _2"/>tisfied, which<span class="_ _2"/> happens upon </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _2"/>er<span class="_ _2"/> of control <span class="_ _2"/>to the cust<span class="_ _2"/>omer a<span class="_ _2"/>t an amount<span class="_ _2"/> that<span class="_ _2"/> re-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">flects the consideration t<span class="_ _2"/>o which the Group expects to be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">entitled in exchange f<span class="_ _2"/>or<span class="_ _2"/> the goods and services<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Revenue fr<span class="_ _2"/>om shipping activities is reco<span class="_ _2"/>gnised over<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">time as the performanc<span class="_ _2"/>e obligation is satisfied,<span class="_ _2"/> including </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a share of r<span class="_ _2"/>evenue fr<span class="_ _2"/>om incomplete <span class="_ _2"/>voyages a<span class="_ _2"/>t the bal<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ance sheet dat<span class="_ _2"/>e. In<span class="_ _2"/>voiced re<span class="_ _2"/>venue relat<span class="_ _2"/>ed to an estimat<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">proportion of r<span class="_ _2"/>emaining vo<span class="_ _2"/>yage <span class="_ _2"/>time and activities at <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">destination port is def<span class="_ _2"/>erred.<span class="_ _2"/> Per<span class="_ _2"/>centage of completion </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is calculated as <span class="_ _2"/>the number of da<span class="_ _2"/>ys of a v<span class="_ _2"/>oyage as a per<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">centage of <span class="_ _2"/>the total number<span class="_ _2"/> of days a<span class="_ _2"/> voy<span class="_ _2"/>age is estimated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to last.<span class="_ _2"/> Detention and demurr<span class="_ _2"/>age fees ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised over<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">time up until the <span class="_ _2"/>time of the customer’<span class="_ _0"/>s late return or<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pick<span class="_ _2"/>-up of containers.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Revenue fr<span class="_ _2"/>om t<span class="_ _2"/>erminal operations and <span class="_ _2"/>towing activi-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ties is reco<span class="_ _2"/>gnised upon completion of the service<span class="_ _2"/>. In<span class="_ _2"/> con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tainer<span class="_ _2"/> terminals oper<span class="_ _2"/>ated under<span class="_ _2"/> certain r<span class="_ _2"/>estrictive t<span class="_ _2"/>erms </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of pricing and service,<span class="_ _2"/> etc.,<span class="_ _2"/> the v<span class="_ _2"/>alue of tangible assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">constructed on behalf of <span class="_ _2"/>the concession gr<span class="_ _2"/>antor<span class="_ _2"/> is r<span class="_ _2"/>ecog-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nised as rev<span class="_ _2"/>enue during the construction.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Revenue fr<span class="_ _2"/>om most<span class="_ _2"/> freight f<span class="_ _2"/>orwar<span class="_ _2"/>ding activities is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised over time<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Revenue fr<span class="_ _2"/>om the sale of goods is r<span class="_ _2"/>ecognised upon <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _2"/>er<span class="_ _2"/> of control <span class="_ _2"/>to the buy<span class="_ _2"/>er<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>No significant element<span class="_ _2"/> of financing is deemed presen<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as sales are made with<span class="_ _2"/> a credit<span class="_ _2"/> term o<span class="_ _2"/>f 20-45 days,<span class="_ _2"/> which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is consistent<span class="_ _2"/> with mark<span class="_ _2"/>et pr<span class="_ _2"/>actice.<span class="_ _2"/> Revenue fr<span class="_ _2"/>om sales is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised based on the price specified in <span class="_ _2"/>the contr<span class="_ _2"/>act, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">net of <span class="_ _2"/>the estimated v<span class="_ _2"/>olume discounts.<span class="_ _2"/> Accumula<span class="_ _2"/>ted </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">experience is used t<span class="_ _2"/>o estimate and pro<span class="_ _2"/>vide for<span class="_ _2"/> the dis<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">counts,<span class="_ _2"/> using the expect<span class="_ _2"/>ed value method,<span class="_ _2"/> and r<span class="_ _2"/>evenue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is only r<span class="_ _2"/>ecognised <span class="_ _2"/>to the e<span class="_ _2"/>xtent <span class="_ _2"/>that it<span class="_ _2"/> is highly pr<span class="_ _2"/>obable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">that a significan<span class="_ _2"/>t re<span class="_ _2"/>versal will not<span class="_ _2"/> occur<span class="_ _0"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 2.2 <span class="_"> </span>Oper<span class="_ _2"/>ating cost<span class="_ _2"/>s</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:153.015625px;"><span style="position: absolute; display: inline-block; left: 454.141px; top: 0.0136718px; width: 102.393px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Costs of goods sold<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 359.52px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,999<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,849</span><span style="position: absolute; display: inline-block; left: 0px; top: 38.3105px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bunker<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 391.091px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,037<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8,041</span><span style="position: absolute; display: inline-block; left: 0px; top: 53.2012px; width: 557.098px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminal costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 383.467px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,381<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,958</span><span style="position: absolute; display: inline-block; left: 0px; top: 68.0918px; width: 556.898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Intermodal costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 371.654px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,094<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,532</span><span style="position: absolute; display: inline-block; left: 0px; top: 82.9668px; width: 556.898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Port costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 403.5px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,261<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,188</span><span style="position: absolute; display: inline-block; left: 0px; top: 97.8574px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Rent and lease c<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>osts<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 355.084px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,380<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,539</span><span style="position: absolute; display: inline-block; left: 0px; top: 112.748px; width: 556.898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Staff costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 400.17px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,361<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,087</span><span style="position: absolute; display: inline-block; left: 0px; top: 127.639px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 418.294px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,061<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,688</span><span style="position: absolute; display: inline-block; left: 0px; top: 142.529px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal operating costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 342.803px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>41,574<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>44,882</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">V<span class="_ _2"/>essel-sharing agreements (cost<span class="_ _0"/>-sharing arrangements)</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">V<span class="_ _2"/>essel-sharing agreements in<span class="_ _2"/> shipping requir<span class="_ _2"/>e that<span class="_ _2"/> some </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vessels are committ<span class="_ _2"/>ed tow<span class="_ _2"/>ards specific service r<span class="_ _2"/>outes.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The committed v<span class="_ _2"/>essel’<span class="_ _2"/>s capacity<span class="_ _2"/> is then shar<span class="_ _2"/>ed with one </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _2"/> more container<span class="_ _2"/> shipping pr<span class="_ _2"/>oviders in proportion<span class="_ _2"/> to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">each party’<span class="_ _2"/>s contribution t<span class="_ _2"/>o the joint<span class="_ _2"/> service.<span class="_ _2"/> In practic<span class="_ _2"/>e, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">it is not<span class="_ _2"/> alway<span class="_ _2"/>s possible to pr<span class="_ _2"/>ovide t<span class="_ _2"/>onnage precisel<span class="_ _2"/>y as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">agreed in <span class="_ _2"/>the sharing arrang<span class="_ _2"/>ements,<span class="_ _2"/> ther<span class="_ _2"/>efore financial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">settlement oft<span class="_ _2"/>en tak<span class="_ _2"/>es place on the basis of r<span class="_ _2"/>elative <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">capacity ov<span class="_ _2"/>er/<span class="_ _0"/>under-utilised on a monthly<span class="_ _2"/> basis or<span class="_ _2"/> other<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mutually<span class="_ _2"/> agreed cycle.<span class="_ _2"/> A<span class="_ _2"/>t <span class="_ _2"/>A.P<span class="_ _4"/>. M<span class="_ _2"/>oll<span class="_ _2"/>er<span class="_ _2"/> - Ma<span class="_ _2"/>ersk,<span class="_ _2"/> these<span class="_ _2"/> <span class="ls0 ws0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">capacity adjustments ar<span class="_ _2"/>e settled as close to actual costs </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">incurred as possible based on mark<span class="_ _2"/>et r<span class="_ _2"/>ates applicable<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">at that<span class="_ _2"/> time.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 2.2 <span class="_"> </span>Oper<span class="_ _2"/>ating cost<span class="_ _2"/>s</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:153.015625px;"><span style="position: absolute; display: inline-block; left: 454.141px; top: 0.0136718px; width: 102.393px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Costs of goods sold<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 359.52px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,999<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,849</span><span style="position: absolute; display: inline-block; left: 0px; top: 38.3105px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bunker<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 391.091px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,037<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8,041</span><span style="position: absolute; display: inline-block; left: 0px; top: 53.2012px; width: 557.098px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminal costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 383.467px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,381<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,958</span><span style="position: absolute; display: inline-block; left: 0px; top: 68.0918px; width: 556.898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Intermodal costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 371.654px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,094<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,532</span><span style="position: absolute; display: inline-block; left: 0px; top: 82.9668px; width: 556.898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Port costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 403.5px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,261<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,188</span><span style="position: absolute; display: inline-block; left: 0px; top: 97.8574px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Rent and lease c<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>osts<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 355.084px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,380<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,539</span><span style="position: absolute; display: inline-block; left: 0px; top: 112.748px; width: 556.898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Staff costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 400.17px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,361<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,087</span><span style="position: absolute; display: inline-block; left: 0px; top: 127.639px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 418.294px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,061<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,688</span><span style="position: absolute; display: inline-block; left: 0px; top: 142.529px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal operating costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 342.803px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>41,574<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>44,882</span></span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 2.2 <span class="_"> </span>Oper<span class="_ _2"/>ating cost<span class="_ _2"/>s</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:153.015625px;"><span style="position: absolute; display: inline-block; left: 454.141px; top: 0.0136718px; width: 102.393px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Costs of goods sold<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 359.52px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,999<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,849</span><span style="position: absolute; display: inline-block; left: 0px; top: 38.3105px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bunker<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 391.091px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,037<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8,041</span><span style="position: absolute; display: inline-block; left: 0px; top: 53.2012px; width: 557.098px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminal costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 383.467px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,381<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,958</span><span style="position: absolute; display: inline-block; left: 0px; top: 68.0918px; width: 556.898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Intermodal costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 371.654px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,094<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,532</span><span style="position: absolute; display: inline-block; left: 0px; top: 82.9668px; width: 556.898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Port costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 403.5px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,261<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,188</span><span style="position: absolute; display: inline-block; left: 0px; top: 97.8574px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Rent and lease c<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>osts<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 355.084px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,380<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,539</span><span style="position: absolute; display: inline-block; left: 0px; top: 112.748px; width: 556.898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Staff costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 400.17px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,361<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,087</span><span style="position: absolute; display: inline-block; left: 0px; top: 127.639px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 418.294px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,061<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,688</span><span style="position: absolute; display: inline-block; left: 0px; top: 142.529px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal operating costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 342.803px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>41,574<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>44,882</span></span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 2.2 <span class="_"> </span>Oper<span class="_ _2"/>ating cost<span class="_ _2"/>s</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:153.015625px;"><span style="position: absolute; display: inline-block; left: 454.141px; top: 0.0136718px; width: 102.393px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Costs of goods sold<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 359.52px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,999<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,849</span><span style="position: absolute; display: inline-block; left: 0px; top: 38.3105px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bunker<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 391.091px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,037<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8,041</span><span style="position: absolute; display: inline-block; left: 0px; top: 53.2012px; width: 557.098px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminal costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 383.467px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,381<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,958</span><span style="position: absolute; display: inline-block; left: 0px; top: 68.0918px; width: 556.898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Intermodal costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 371.654px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,094<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,532</span><span style="position: absolute; display: inline-block; left: 0px; top: 82.9668px; width: 556.898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Port costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 403.5px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,261<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,188</span><span style="position: absolute; display: inline-block; left: 0px; top: 97.8574px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Rent and lease c<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>osts<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 355.084px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,380<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,539</span><span style="position: absolute; display: inline-block; left: 0px; top: 112.748px; width: 556.898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Staff costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 400.17px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,361<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,087</span><span style="position: absolute; display: inline-block; left: 0px; top: 127.639px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 418.294px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,061<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,688</span><span style="position: absolute; display: inline-block; left: 0px; top: 142.529px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal operating costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 342.803px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>41,574<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>44,882</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 2.3 <span class="_"> </span>Depreciation, amor<span class="_ _2"/>tisation and impairment losses, net</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:79.84375px;"><span style="position: absolute; display: inline-block; left: 454.141px; top: 0.0136718px; width: 102.393px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 557.232px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal depreciation <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 364.166px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,856<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,595</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal amortisation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 374.543px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>382<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>365</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal impairment, net <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 356.033px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>377<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>226</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.646px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Depreciation, amortisation and impairment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> losses, net<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 188.69px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6,615<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6,186</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Depreciation is r<span class="_ _2"/>elated <span class="_ _2"/>to property<span class="_ _0"/>, plant<span class="_ _2"/> and equipment of USD<span class="_ _2"/> 2.6bn (USD 2.5bn) and <span class="_ _2"/>to right<span class="_ _2"/>-of-use assets of USD </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3.3bn<span class="_ _2"/> (USD 3.<span class="_ _0"/>1bn).<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>otal net impairments are primaril<span class="_ _2"/>y due <span class="_ _2"/>to property<span class="_ _0"/>, plant<span class="_ _2"/> and equipment of USD 55m<span class="_ _2"/> (USD 139m) and intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets of USD 322m (USD 68m),<span class="_ _2"/> of which<span class="_ _2"/> USD 299m is from<span class="_ _2"/> the impairment<span class="_ _2"/> of brands<span class="_ _2"/>. Ref<span class="_ _2"/>er<span class="_ _2"/> to note 3<span class="_ _2"/>.<span class="_ _0"/>1 Intangible assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and note 3<span class="_ _2"/>.2 Property<span class="_ _0"/>, plant and equipment.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:173.970703125px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 123.943px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Remuneration of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> employees</span><span style="position: absolute; display: inline-block; left: 0px; top: 14.5762px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">W<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ages and salaries<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 362.004px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,370<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,237</span><span style="position: absolute; display: inline-block; left: 0px; top: 29.4668px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Sever<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ance payments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 364.166px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>206<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>97</span><span style="position: absolute; display: inline-block; left: 0px; top: 44.3574px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Pension costs, defined benefit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> plans<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 297.492px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>63<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>35</span><span style="position: absolute; display: inline-block; left: 0px; top: 59.248px; width: 556.98px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Pension costs, defined contribution plans<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 265.846px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>290<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>256</span><span style="position: absolute; display: inline-block; left: 0px; top: 74.1387px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> social security costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 338.156px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>587<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>513</span><span style="position: absolute; display: inline-block; left: 0px; top: 89.0293px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal remuneration<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 357.709px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>7,516<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>7,138</span><span style="position: absolute; display: inline-block; left: 0px; top: 119.121px; width: 40.6699px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Of<span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> which:</span><span style="position: absolute; display: inline-block; left: 0px; top: 133.701px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Recognised in <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>the cost of assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 323.971px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8</span><span style="position: absolute; display: inline-block; left: 0px; top: 148.592px; width: 556.893px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Included in restructuring costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 317.367px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>148<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>43</span><span style="position: absolute; display: inline-block; left: 0px; top: 163.482px; width: 556.875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Expensed as staff costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 338.156px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>7,361<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>7,087</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A<span class="_ _2"/>ver<span class="_ _2"/>age number<span class="_ _2"/> of employees<span class="_ _19c"> </span>105,909<span class="_ _7d"> </span>104,260</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Customary agr<span class="_ _2"/>eements have been<span class="_ _2"/> entered int<span class="_ _2"/>o with employees r<span class="_ _2"/>egar<span class="_ _2"/>ding compensation in connection<span class="_ _2"/> with resigna<span class="_ _2"/>tion </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with consider<span class="_ _2"/>ation for<span class="_ _2"/> local legislation<span class="_ _2"/> and collective agr<span class="_ _2"/>eements.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _2"/> information about<span class="_ _2"/> share-based payments<span class="_ _2"/>, r<span class="_ _2"/>efer<span class="_ _2"/>ence is made to not<span class="_ _2"/>e 5.2.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:173.970703125px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 123.943px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Remuneration of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> employees</span><span style="position: absolute; display: inline-block; left: 0px; top: 14.5762px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">W<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ages and salaries<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 362.004px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,370<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,237</span><span style="position: absolute; display: inline-block; left: 0px; top: 29.4668px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Sever<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ance payments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 364.166px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>206<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>97</span><span style="position: absolute; display: inline-block; left: 0px; top: 44.3574px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Pension costs, defined benefit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> plans<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 297.492px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>63<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>35</span><span style="position: absolute; display: inline-block; left: 0px; top: 59.248px; width: 556.98px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Pension costs, defined contribution plans<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 265.846px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>290<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>256</span><span style="position: absolute; display: inline-block; left: 0px; top: 74.1387px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> social security costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 338.156px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>587<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>513</span><span style="position: absolute; display: inline-block; left: 0px; top: 89.0293px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal remuneration<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 357.709px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>7,516<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>7,138</span><span style="position: absolute; display: inline-block; left: 0px; top: 119.121px; width: 40.6699px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Of<span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> which:</span><span style="position: absolute; display: inline-block; left: 0px; top: 133.701px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Recognised in <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>the cost of assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 323.971px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8</span><span style="position: absolute; display: inline-block; left: 0px; top: 148.592px; width: 556.893px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Included in restructuring costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 317.367px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>148<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>43</span><span style="position: absolute; display: inline-block; left: 0px; top: 163.482px; width: 556.875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Expensed as staff costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 338.156px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>7,361<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>7,087</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A<span class="_ _2"/>ver<span class="_ _2"/>age number<span class="_ _2"/> of employees<span class="_ _19c"> </span>105,909<span class="_ _7d"> </span>104,260</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Customary agr<span class="_ _2"/>eements have been<span class="_ _2"/> entered int<span class="_ _2"/>o with employees r<span class="_ _2"/>egar<span class="_ _2"/>ding compensation in connection<span class="_ _2"/> with resigna<span class="_ _2"/>tion </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with consider<span class="_ _2"/>ation for<span class="_ _2"/> local legislation<span class="_ _2"/> and collective agr<span class="_ _2"/>eements.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _2"/> information about<span class="_ _2"/> share-based payments<span class="_ _2"/>, r<span class="_ _2"/>efer<span class="_ _2"/>ence is made to not<span class="_ _2"/>e 5.2.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 4.3 <span class="_"> </span>Pensions and similar obliga<span class="_ _2"/>tions</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:324.140625px;"><span style="position: absolute; display: inline-block; left: 225.719px; top: 0.0136718px; width: 332.191px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">UK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.5998px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>UK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.5998px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 211.75px; top: 19.1543px; width: 344.631px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 44.1367px; width: 122.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Specification of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> net liability</span><span style="position: absolute; display: inline-block; left: 0px; top: 58.7168px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Present<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> v<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>alue of funded plans<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.0645px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,539<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>170<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,709<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,396<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>374<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,770</span><span style="position: absolute; display: inline-block; left: 0px; top: 73.6074px; width: 557.109px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value of plan assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 92.004px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1,652<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-108<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1,760<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.9179px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1,583<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-301<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.4395px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1,884</span><span style="position: absolute; display: inline-block; left: 0px; top: 88.498px; width: 556.928px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Net liability<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> of funded plans<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 83.8418px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-113<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>62<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-51<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-187<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>73<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-114</span><span style="position: absolute; display: inline-block; left: 0px; top: 103.389px; width: 556.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Present<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> v<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>alue of unfunded plans<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 81.4395px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>102<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>102<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7949px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>105<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>105</span><span style="position: absolute; display: inline-block; left: 0px; top: 118.279px; width: 136.957px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impact of minimum funding </span><span style="position: absolute; display: inline-block; left: 0px; top: 130.279px; width: 556.664px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">requir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ement/<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>asset ceiling<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.988px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>20<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>20<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>66<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>66</span><span style="position: absolute; display: inline-block; left: 0px; top: 145.17px; width: 556.805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net liability<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 97.7812px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-93<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>164<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>71<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-121<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>178<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>57</span><span style="position: absolute; display: inline-block; left: 0px; top: 175.262px; width: 40.6699px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Of<span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> which:</span><span style="position: absolute; display: inline-block; left: 0px; top: 189.842px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Pensions, net assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 250.353px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>120<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 172.19px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>134</span><span style="position: absolute; display: inline-block; left: 0px; top: 204.732px; width: 556.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Pensions and similar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> obligations<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 195.58px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>191<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 171.627px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>191</span><span style="position: absolute; display: inline-block; left: 351.719px; top: 254.936px; width: 204.311px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">UK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>UK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 0px; top: 274.092px; width: 556.811px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Significant financial assumptions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 184.324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 298.764px; width: 557.279px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Discount r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.018px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4.5%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4.5%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4.8%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4.7%</span><span style="position: absolute; display: inline-block; left: 0px; top: 313.654px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inflation r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3.3%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3.3%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3.5%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3.3%</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">As employer<span class="_ _0"/>, <span class="_ _2"/>the Group participates in<span class="_ _2"/> pension plans according <span class="_ _2"/>to normal pr<span class="_ _2"/>actice in the coun<span class="_ _2"/>tries in which <span class="_ _2"/>the Group </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">opera<span class="_ _2"/>tes.<span class="_ _2"/> General<span class="_ _2"/>ly<span class="_ _0"/>, the pension plans within<span class="_ _2"/> the Group ar<span class="_ _2"/>e defined contribution plans<span class="_ _2"/>, wher<span class="_ _2"/>e contributions ar<span class="_ _2"/>e recog-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nised in the income sta<span class="_ _2"/>tement on an<span class="_ _2"/> accrual basis.<span class="_ _2"/> A<span class="_ _2"/> number<span class="_ _2"/> of entities have defined benefit<span class="_ _2"/> plans,<span class="_ _2"/> in which r<span class="_ _2"/>etirement<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">benefits are based on length<span class="_ _2"/> of service and salary level.<span class="_ _2"/> <span class="_ _2"/>T<span class="_ _0"/>o a limited extent,<span class="_ _2"/> these defined bene<span class="_ _2"/>fit plans also include </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payment o<span class="_ _2"/>f medical expenses,<span class="_ _2"/> etc.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In 2024<span class="_ _2"/>, <span class="_ _2"/>the Group expects <span class="_ _2"/>to pay<span class="_ _2"/> contributions total<span class="_ _2"/>ling USD 17<span class="_ _2"/>m (USD 25m) <span class="_ _2"/>to funded defined benefit plans<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">85% of the Gr<span class="_ _2"/>oup’<span class="_ _2"/>s defined benefit liabilities ar<span class="_ _2"/>e in the UK. <span class="_ _2"/>Al<span class="_ _2"/>l of the plans in <span class="_ _2"/>the UK are funded.<span class="_ _2"/> A<span class="_ _2"/>lthough all <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the UK plans are now closed <span class="_ _2"/>to new entr<span class="_ _2"/>ants,<span class="_ _2"/> active members in <span class="_ _2"/>the two lar<span class="_ _2"/>gest plans continue <span class="_ _2"/>to accrue new </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">benefits.<span class="_ _2"/> The smal<span class="_ _2"/>ler UK plans ar<span class="_ _2"/>e all closed <span class="_ _2"/>to new accruals,<span class="_ _2"/> although a<span class="_ _2"/> salary link remains in<span class="_ _2"/> some of the plans.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Over<span class="_ _2"/>all,<span class="_ _2"/> the plans have an a<span class="_ _2"/>ver<span class="_ _2"/>age duration<span class="_ _2"/> of 11 years<span class="_ _2"/>, and appr<span class="_ _2"/>oximatel<span class="_ _2"/>y 60% of the oblig<span class="_ _2"/>ation is relat<span class="_ _2"/>ed to<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pensioner members.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">As well as being subject<span class="_ _2"/> to <span class="_ _2"/>the risks of fal<span class="_ _2"/>ling interest<span class="_ _2"/> r<span class="_ _2"/>ates,<span class="_ _2"/> which would incr<span class="_ _2"/>ease the oblig<span class="_ _2"/>ation, poor<span class="_ _0"/> asset returns <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and pensioners living longer<span class="_ _2"/> than anticipa<span class="_ _2"/>ted, <span class="_ _2"/>the Group is also subject<span class="_ _2"/> to <span class="_ _2"/>the risk of higher-<span class="_ _2"/>than- <span class="_ _4"/>expected inflation.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">This is because many pension<span class="_ _2"/> benefits, particularl<span class="_ _2"/>y in <span class="_ _2"/>the UK plans,<span class="_ _2"/> increase in line <span class="_ _2"/>with inflation although some<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">minimum and maximum limits apply<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:74.734375px;"><span style="position: absolute; display: inline-block; left: 401.859px; top: 0.0136718px; width: 63.2871px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">31 December</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.98px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Life expectancy<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.297px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2043<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2042</span><span style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 556.711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">65-y<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ear-old male in <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>the UK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.029px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21.7<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>23.3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>22.0<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>23.5</span><span style="position: absolute; display: inline-block; left: 0px; top: 64.248px; width: 556.711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">65-y<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ear-old female in<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> the UK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.338px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>24.1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25.8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>24.3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25.8</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The sensitivity of <span class="_ _2"/>the liabilities and pension costs t<span class="_ _2"/>o the k<span class="_ _2"/>ey assumptions ar<span class="_ _2"/>e as follows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:84.09375px;"><span style="position: absolute; display: inline-block; left: 453.797px; top: 0.0136718px; width: 102.961px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Increase<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 20.7422px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Decrease</span><span style="position: absolute; display: inline-block; left: 0px; top: 4.26367px; width: 197.76px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Sensitivities for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> ke<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>y assumptions in <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>the UK</span><span style="position: absolute; display: inline-block; left: 0px; top: 19.1543px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fact<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ors<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 307.98px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>‘<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>Change in liability’<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.7676px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023</span><span style="position: absolute; display: inline-block; left: 0px; top: 43.8262px; width: 556.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Discount r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 187.775px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Increase/(decr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ease) by<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> 25 basis points<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-42<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>44</span><span style="position: absolute; display: inline-block; left: 0px; top: 58.7168px; width: 556.857px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inflation r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 188.69px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Increase/(decrease) b<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>y 25 basis points<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>19<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-24</span><span style="position: absolute; display: inline-block; left: 0px; top: 73.6074px; width: 557.303px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Life expectancy<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 208.348px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Increase/(decr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ease) by<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> one year<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>62<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-61</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:143.65625px;"><span style="position: absolute; display: inline-block; left: 224.953px; top: 0.0136718px; width: 332.191px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">UK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.5998px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>UK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.5998px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 0px; top: 19.1543px; width: 556.945px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Specification of plan assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 83.8418px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.5998px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 43.8262px; width: 559.863px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Insurance c<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ontracts<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.18px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,255<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>54<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,309<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.0508px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,172<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>54<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 1,226 </span><span style="position: absolute; display: inline-block; left: 0px; top: 58.7168px; width: 559.746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Shares<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 193.565px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>35<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>52<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 67 </span><span style="position: absolute; display: inline-block; left: 0px; top: 73.6074px; width: 559.623px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Government<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> bonds<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.797px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>225<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>235<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>130<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>37<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7949px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 167 </span><span style="position: absolute; display: inline-block; left: 0px; top: 88.498px; width: 559.307px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Corpora<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>te bonds<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.445px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>68<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>75<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>53<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>176<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7949px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 229 </span><span style="position: absolute; display: inline-block; left: 0px; top: 103.389px; width: 559.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Real estate<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 172.19px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 14 </span><span style="position: absolute; display: inline-block; left: 0px; top: 118.279px; width: 559.213px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 166.793px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>73<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>18<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>91<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>168<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7949px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 181 </span><span style="position: absolute; display: inline-block; left: 0px; top: 133.17px; width: 559.506px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> value 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 96.6855px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,652<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>108<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,760<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,583<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>301<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 32.4961px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 1,884 </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Rates of lif<span class="_ _2"/>e expectancy r<span class="_ _2"/>eflect <span class="_ _2"/>the most r<span class="_ _2"/>ecent mortality<span class="_ _2"/> investigations<span class="_ _2"/>, and in line <span class="_ _2"/>with market<span class="_ _2"/> practic<span class="_ _2"/>e an allowance is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">made for<span class="_ _2"/> future impr<span class="_ _2"/>ovements in lif<span class="_ _2"/>e expectancy<span class="_ _2"/>.<span class="_ _2"/> The Gr<span class="_ _2"/>oup assumes tha<span class="_ _2"/>t future impr<span class="_ _2"/>ovements <span class="_ _2"/>will be in line with <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">latest<span class="_ _2"/> projections of 1.25% for<span class="_ _0"/> all UK plans. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The liabilities are calcula<span class="_ _2"/>ted using assumptions that<span class="_ _2"/> are <span class="_ _2"/>the Group’<span class="_ _2"/>s best<span class="_ _2"/> estimate of future e<span class="_ _2"/>xperience bearing in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mind the r<span class="_ _2"/>equirements of IAS 19<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The Group’<span class="_ _2"/>s plans ar<span class="_ _2"/>e funded in accordance <span class="_ _2"/>with applicable local legislation.<span class="_ _2"/> In the UK,<span class="_ _2"/> each plan has a <span class="_ _2"/>T<span class="_ _2"/>rustee Boar<span class="_ _2"/>d </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">that is r<span class="_ _2"/>equired <span class="_ _2"/>to act in <span class="_ _2"/>the best in<span class="_ _2"/>terests of plan members<span class="_ _2"/>. E<span class="_ _2"/>very <span class="_ _2"/>three <span class="_ _2"/>years,<span class="_ _2"/> a formal <span class="_ _2"/>valuation of <span class="_ _2"/>the plan’<span class="_ _2"/>s liabilities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is carried out using a prudent<span class="_ _2"/> basis,<span class="_ _2"/> and if the plan is in<span class="_ _2"/> deficit, <span class="_ _2"/>the T<span class="_ _0"/>rustees agree with <span class="_ _2"/>the Group or<span class="_ _0"/> the sponsoring </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">employer<span class="_ _2"/> on a plan for<span class="_ _2"/> r<span class="_ _2"/>ecovering tha<span class="_ _2"/>t deficit.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Around 80% of <span class="_ _2"/>the UK liabilities are now co<span class="_ _2"/>vered by<span class="_ _2"/> insuranc<span class="_ _2"/>e policies. <span class="_ _2"/>Ther<span class="_ _2"/>efore<span class="_ _2"/>, mov<span class="_ _2"/>ement in <span class="_ _2"/>the liabilities due to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">change in assumptions would equal<span class="_ _2"/>ly impact<span class="_ _2"/> the assets <span class="_ _2"/>value r<span class="_ _2"/>elated t<span class="_ _2"/>o the buy<span class="_ _2"/>-in policies,<span class="_ _2"/> resul<span class="_ _2"/>ting in a reduc<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">movement in the o<span class="_ _2"/>veral<span class="_ _2"/>l balance sheet position.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The expected contribution <span class="_ _2"/>to <span class="_ _2"/>the UK plans for<span class="_ _2"/> 2024 ar<span class="_ _2"/>e USD 12m (USD 0m in<span class="_ _2"/> 2023). In most<span class="_ _2"/> of the UK plans<span class="_ _2"/>, any<span class="_ _2"/> surplus </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">remaining after<span class="_ _0"/> the last member<span class="_ _2"/> dies may be r<span class="_ _2"/>eturned t<span class="_ _2"/>o the Gr<span class="_ _2"/>oup. How<span class="_ _2"/>ever<span class="_ _0"/>, <span class="_ _2"/>the Merchant<span class="_ _2"/> Navy Ra<span class="_ _2"/>tings Pension Fund </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(MNRPF), and <span class="_ _2"/>the Merchant<span class="_ _2"/> Navy<span class="_ _2"/> Officers Pension Fund (MNOPF) contributions paid by<span class="_ _2"/> the Gr<span class="_ _2"/>oup are not<span class="_ _2"/> refundable in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">any cir<span class="_ _2"/>cumstance and the balance sheet<span class="_ _2"/> liability r<span class="_ _2"/>eflects an adjustment<span class="_ _2"/> for<span class="_ _2"/> any agr<span class="_ _2"/>eed deficit r<span class="_ _2"/>ecovery<span class="_ _2"/> contributions in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">excess of deficit<span class="_ _2"/> determined using the Gr<span class="_ _2"/>oup’<span class="_ _2"/>s assumptions.<span class="_ _2"/> In 2023,<span class="_ _2"/> an adjustment<span class="_ _2"/> of USD 11m (USD 3m) <span class="_ _2"/>was applied <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in this respect.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Other<span class="_ _2"/> than <span class="_ _2"/>the insur<span class="_ _2"/>ance contracts and a<span class="_ _2"/> small proportion<span class="_ _2"/> of other holding<span class="_ _2"/>s, <span class="_ _2"/>the plan assets held by<span class="_ _2"/> the Gr<span class="_ _2"/>oup are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">quoted investments<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:366.6875px;"><span style="position: absolute; display: inline-block; left: 265.938px; top: 0.0136718px; width: 38.2734px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Present<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 320.406px; top: 0.0136718px; width: 47.1797px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 395.688px; top: 0.0136718px; width: 34.1074px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Adjust<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-</span><span style="position: absolute; display: inline-block; left: 476.516px; top: 0.0136718px; width: 19.207px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Net <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 513.328px; top: 0.0136718px; width: 44.2266px; white-space: pre; word-spacing: -0.105px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Of which:</span><span style="position: absolute; display: inline-block; left: 263.469px; top: 12.0137px; width: 40.248px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">value of <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 332.75px; top: 12.0137px; width: 35.5195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">of plan <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 399.234px; top: 12.0137px; width: 29.7891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">ments</span><span style="position: absolute; display: inline-block; left: 458px; top: 12.0137px; width: 34.6758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">liability</span><span style="position: absolute; display: inline-block; left: 544.5px; top: 12.0137px; width: 13.1602px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">UK</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.0137px; width: 101.414px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Change in net liability</span><span style="position: absolute; display: inline-block; left: 249.688px; top: 24.0137px; width: 52.3535px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">obligations</span><span style="position: absolute; display: inline-block; left: 336.141px; top: 24.0137px; width: 29.7188px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">assets</span><span style="position: absolute; display: inline-block; left: 0px; top: 48.6855px; width: 557.004px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 197.806px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">1,875<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,884<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>66<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>57<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-121</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 75.498px; width: 556.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> service costs, administr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation costs, etc.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>57<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>63<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>41</span><span style="position: absolute; display: inline-block; left: 0px; top: 90.3887px; width: 556.928px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Calculated int<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> expense/income<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.645px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>83<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>86<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-5</span><span style="position: absolute; display: inline-block; left: 0px; top: 105.264px; width: 557.139px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Recognised in <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>the income statement<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> in 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.0645px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>140<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>80<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>63<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>36</span><span style="position: absolute; display: inline-block; left: 0px; top: 131.514px; width: 202.26px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Return on plan assets, e<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>xcluding amounts </span><span style="position: absolute; display: inline-block; left: 0px; top: 143.529px; width: 556.975px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">included in inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 207.393px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3</span><span style="position: absolute; display: inline-block; left: 0px; top: 159.17px; width: 186.422px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Actuarial gains/losses from<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> changes in </span><span style="position: absolute; display: inline-block; left: 0px; top: 171.17px; width: 556.682px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">demogr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>aphic assumptions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 161.069px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-18<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-18<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-19</span><span style="position: absolute; display: inline-block; left: 0px; top: 186.061px; width: 186.422px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Actuarial gains/losses from<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> changes in </span><span style="position: absolute; display: inline-block; left: 0px; top: 198.061px; width: 102.732px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">financial assumptions</span><span style="position: absolute; display: inline-block; left: 294.562px; top: 197.311px; width: 261.48px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13</span><span style="position: absolute; display: inline-block; left: 0px; top: 212.201px; width: 556.799px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Experience adjustments <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 173.643px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>51<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>51<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>53</span><span style="position: absolute; display: inline-block; left: 0px; top: 227.842px; width: 179.086px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Adjustments for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> unrec<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ognised assets </span><span style="position: absolute; display: inline-block; left: 0px; top: 239.842px; width: 556.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">due to asset<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> ceiling<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 207.393px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-52<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-52<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-52</span><span style="position: absolute; display: inline-block; left: 0px; top: 254.732px; width: 556.676px; white-space: pre; word-spacing: 0px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Recognised in other<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> comprehensiv<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>e income in 2023<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">37<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-52<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-2</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 281.732px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Contributions from <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>the Group and emplo<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>yees<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 82.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>23<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-22<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-</span><span style="position: absolute; display: inline-block; left: 0px; top: 296.623px; width: 556.934px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Benefit paymen<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ts<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 195.041px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-146<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-140<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-</span><span style="position: absolute; display: inline-block; left: 0px; top: 310.764px; width: 58.1016px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Settlements</span><span style="position: absolute; display: inline-block; left: 57.4688px; top: 311.398px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 278.219px; top: 310.779px; width: 278.707px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-186<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-181<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-</span><span style="position: absolute; display: inline-block; left: 0px; top: 326.42px; width: 556.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.266px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-</span><span style="position: absolute; display: inline-block; left: 0px; top: 341.311px; width: 557.156px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 161.069px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>93<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>100<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-6</span><span style="position: absolute; display: inline-block; left: 0px; top: 356.201px; width: 556.98px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 181.319px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,811<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,760<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>20<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>71<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-93</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Relates <span class="_ _2"/>to the t<span class="_ _2"/>ermination and settlement <span class="_ _2"/>via insuranc<span class="_ _2"/>e of the US Maersk Pension Plan.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:351.78125px;"><span style="position: absolute; display: inline-block; left: 266.828px; top: 0.0136718px; width: 38.2734px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Present<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 321.766px; top: 0.0136718px; width: 47.1797px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 395.5px; top: 0.0136718px; width: 34.1074px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Adjust<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-</span><span style="position: absolute; display: inline-block; left: 475.562px; top: 0.0136718px; width: 19.207px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Net <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 512.766px; top: 0.0136718px; width: 44.2266px; white-space: pre; word-spacing: -0.105px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Of which:</span><span style="position: absolute; display: inline-block; left: 264.125px; top: 12.0137px; width: 40.248px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">value of <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 333.359px; top: 12.0137px; width: 35.5195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">of plan <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 400.094px; top: 12.0137px; width: 29.7891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">ments</span><span style="position: absolute; display: inline-block; left: 458.422px; top: 12.0137px; width: 34.6758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">liability</span><span style="position: absolute; display: inline-block; left: 543.828px; top: 12.0137px; width: 13.1602px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">UK</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.0137px; width: 101.414px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Change in net liability</span><span style="position: absolute; display: inline-block; left: 249.594px; top: 24.0137px; width: 52.3535px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">obligations</span><span style="position: absolute; display: inline-block; left: 336.234px; top: 24.0137px; width: 29.7188px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">assets</span><span style="position: absolute; display: inline-block; left: 0px; top: 48.6855px; width: 557.004px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">1 January 2022<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 197.806px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">2,843<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,858<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>82<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>67<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-138</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 75.498px; width: 556.775px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> service costs, administr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation costs, etc.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>23<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.3906px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>34<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8</span><span style="position: absolute; display: inline-block; left: 0px; top: 90.3887px; width: 556.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Calculated int<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> expense/income<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.645px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>53<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>53<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2</span><span style="position: absolute; display: inline-block; left: 0px; top: 105.264px; width: 557.027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Recognised in <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>the income statement<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> in 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 75.3221px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>76<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>42<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>35<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6</span><span style="position: absolute; display: inline-block; left: 0px; top: 131.514px; width: 202.26px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Return on plan assets, e<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>xcluding amounts </span><span style="position: absolute; display: inline-block; left: 0px; top: 143.529px; width: 557.174px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">included in inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 207.393px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-638<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>638<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>562</span><span style="position: absolute; display: inline-block; left: 0px; top: 159.17px; width: 186.422px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Actuarial gains/losses from<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> changes in </span><span style="position: absolute; display: inline-block; left: 0px; top: 171.17px; width: 166.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">demogr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>aphic financial assumptions</span><span style="position: absolute; display: inline-block; left: 295.375px; top: 170.42px; width: 69.9434px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-</span><span style="position: absolute; display: inline-block; left: 425.047px; top: 171.17px; width: 4.33008px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-</span><span style="position: absolute; display: inline-block; left: 486.703px; top: 170.42px; width: 69.9082px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7</span><span style="position: absolute; display: inline-block; left: 0px; top: 186.076px; width: 186.422px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Actuarial gains/losses from<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> changes in </span><span style="position: absolute; display: inline-block; left: 0px; top: 198.076px; width: 102.732px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">financial assumptions</span><span style="position: absolute; display: inline-block; left: 277.547px; top: 197.326px; width: 278.613px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-776<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-776<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-672</span><span style="position: absolute; display: inline-block; left: 0px; top: 212.217px; width: 556.846px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Experience adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 169.342px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>104<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>104<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>107</span><span style="position: absolute; display: inline-block; left: 0px; top: 227.857px; width: 179.086px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Adjustments for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> unrec<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ognised assets </span><span style="position: absolute; display: inline-block; left: 0px; top: 239.857px; width: 557.133px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">due to asset<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> ceiling<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 204.533px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.1875px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-8</span><span style="position: absolute; display: inline-block; left: 0px; top: 254.748px; width: 557.162px; white-space: pre; word-spacing: 0px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Recognised in other<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> comprehensiv<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>e income in 2022<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: 0px; width: 36.7676px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">-666<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-638<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-36<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-4</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 281.748px; width: 559.582px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Contributions from <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>the Group and emplo<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>yees<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 82.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 296.639px; width: 559.506px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Benefit paymen<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ts<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 195.041px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-132<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-119<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 43.7284px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 311.529px; width: 559.635px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Effect<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> of business combinations and disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.1875px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 326.404px; width: 556.646px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 150.293px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-249<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-262<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15</span><span style="position: absolute; display: inline-block; left: 0px; top: 341.295px; width: 556.764px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 181.319px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,875<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,884<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>66<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>57<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-121</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Multi-emplo<span class="_ _2"/>yer<span class="_ _2"/> plans</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Under<span class="_ _2"/> collective agr<span class="_ _2"/>eements,<span class="_ _2"/> certain entities in <span class="_ _2"/>the Group participate <span class="_ _2"/>tog<span class="_ _2"/>ether <span class="_ _2"/>with other<span class="_ _2"/> employers in defined benefit<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pension plans as well as <span class="_ _2"/>welfar<span class="_ _2"/>e/<span class="_ _2"/>medical plans (multi-employer<span class="_ _0"/> plans). In gener<span class="_ _2"/>al, <span class="_ _2"/>the contributions t<span class="_ _2"/>o the schemes ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on man hours work<span class="_ _2"/>ed or<span class="_ _2"/> cargo <span class="_ _2"/>tonnage handled,<span class="_ _2"/> or<span class="_ _2"/> a combination of <span class="_ _2"/>these.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>For<span class="_ _2"/> the defined benefit<span class="_ _2"/> pension plans,<span class="_ _2"/> the Gr<span class="_ _2"/>oup has joint and sev<span class="_ _2"/>eral liabilities <span class="_ _2"/>to fund t<span class="_ _2"/>otal obligations.<span class="_ _2"/> While <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">welfar<span class="_ _2"/>e/<span class="_ _2"/>medical plans are by<span class="_ _2"/> nature c<span class="_ _2"/>ontribution plans funded on a pay<span class="_ _2"/>-as-<span class="_ _2"/>you-go basis.<span class="_ _2"/> <span class="_ _2"/>The Group’<span class="_ _2"/>s contributions <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the pension<span class="_ _2"/> and welfar<span class="_ _2"/>e/<span class="_ _2"/>medical plans in 2023 are estima<span class="_ _2"/>ted at USD<span class="_ _2"/> 86m (USD 124m) and USD<span class="_ _2"/> 259m (USD 371m),<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">respectivel<span class="_ _2"/>y<span class="_ _2"/>.<span class="_ _2"/> The contributions <span class="_ _2"/>to be paid in 202<span class="_ _2"/>4 are estimat<span class="_ _2"/>ed at USD 82m<span class="_ _2"/> (USD 125m) for<span class="_ _2"/> the pension plans and<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD 249m<span class="_ _2"/> (USD 37<span class="_ _0"/>4m) for <span class="_ _2"/>the welfar<span class="_ _2"/>e/<span class="_ _2"/>medical plans.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>No reliable basis exists f<span class="_ _2"/>or<span class="_ _2"/> allocation of <span class="_ _2"/>the schemes’<span class="_ _0"/> obligations and plan assets to individual employ<span class="_ _2"/>er participan<span class="_ _2"/>ts. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _2"/> the pension plans wher<span class="_ _2"/>e the Gr<span class="_ _2"/>oup has an inter<span class="_ _2"/>est and <span class="_ _2"/>there is a deficit,<span class="_ _2"/> <span class="_ _2"/>the net obligations f<span class="_ _2"/>or al<span class="_ _2"/>l employers amount </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to USD 216m (USD<span class="_ _2"/> 19m). <span class="_ _2"/>This net obliga<span class="_ _2"/>tion is based on the most<span class="_ _2"/> recent<span class="_ _2"/> available financial da<span class="_ _2"/>ta from <span class="_ _2"/>the plan’<span class="_ _2"/>s <span class="_ _2"/>trustees,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">calculated in accor<span class="_ _2"/>dance with <span class="_ _2"/>the rules for<span class="_ _2"/> such actuarial calculation in US GAAP<span class="_ _a"/>. <span class="_ _2"/>The deficit in some of <span class="_ _2"/>the schemes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">may necessita<span class="_ _2"/>te increased contributions in<span class="_ _2"/> the futur<span class="_ _2"/>e. <span class="_ _2"/>W<span class="_ _2"/>elfar<span class="_ _2"/>e/<span class="_ _2"/>medical plans are pay<span class="_ _2"/>-as-<span class="_ _2"/>you-go and form a<span class="_ _2"/> part of the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Group’<span class="_ _2"/>s US collectiv<span class="_ _2"/>e bargaining agr<span class="_ _2"/>eements.<span class="_ _2"/> The<span class="_ _2"/>y cover<span class="_ _0"/> a limited part of employees’<span class="_ _0"/> medical costs as occurred.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Pension obligations<span class="ff3"> are <span class="_ _2"/>the net liabilities of defined benefit </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">obligations and the dedica<span class="_ _2"/>ted assets adjusted for<span class="_ _0"/> the <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">effect o<span class="_ _2"/>f minimum funding and asset ceiling r<span class="_ _2"/>equire<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments.<span class="_ _2"/> Plans with a funding surplus ar<span class="_ _2"/>e present<span class="_ _2"/>ed as net </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets on the balance sheet.<span class="_ _2"/> <span class="_ _2"/>The defined benefit obliga-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tions are measur<span class="_ _2"/>ed at <span class="_ _2"/>the present<span class="_ _2"/> v<span class="_ _2"/>alue of expected </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">future paymen<span class="_ _2"/>ts to be made in r<span class="_ _2"/>espect of services pr<span class="_ _2"/>o-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vided by emplo<span class="_ _2"/>yees up to <span class="_ _2"/>the balance sheet dat<span class="_ _2"/>e.<span class="_ _2"/> Plan </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets are measur<span class="_ _2"/>ed at f<span class="_ _2"/>air <span class="_ _2"/>value<span class="_ _2"/>. <span class="_ _2"/>The pension cost<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">charged <span class="_ _2"/>to the income sta<span class="_ _2"/>tement consists o<span class="_ _2"/>f calculated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amounts for<span class="_ _2"/> v<span class="_ _2"/>ested benefits and inter<span class="_ _2"/>est in addition <span class="_ _2"/>to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">settlement of g<span class="_ _2"/>ains or losses<span class="_ _2"/>, et<span class="_ _2"/>c. Int<span class="_ _2"/>erest on<span class="_ _2"/> plan assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is calculated at<span class="_ _2"/> the same r<span class="_ _2"/>ates as used for<span class="_ _0"/> discounting the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">obliga <span class="_ _4"/>tions. <span class="_ _2"/>Actuarial gains/losses ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised in other<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprehensive inc<span class="_ _2"/>ome. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Pensi<span class="_ _1"/>on p<span class="_ _1"/>lans<span class="_ _1"/> whe<span class="_ _1"/>re A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler - Maersk,<span class="_ _2"/> as part<span class="_ _2"/> of col-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lective barg<span class="_ _2"/>aining agreements,<span class="_ _2"/> participates <span class="_ _2"/>together<span class="_ _0"/> with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other<span class="_ _2"/> enterprises – so called mul<span class="_ _2"/>ti-employer<span class="_ _2"/> plans – are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">treat<span class="_ _2"/>ed as other pension<span class="_ _2"/> plans in the financial stat<span class="_ _2"/>ements. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Defined benefit mul<span class="_ _2"/>ti-employer<span class="_ _2"/> plans,<span class="_ _2"/> where sufficien<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">information <span class="_ _2"/>to apply<span class="_ _2"/> defined benefit accoun<span class="_ _2"/>ting is not </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">available<span class="_ _2"/>, ar<span class="_ _2"/>e tr<span class="_ _2"/>eated as defined contribution plans<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 5.2 <span class="_"> </span>Shar<span class="_ _2"/>e-based payments</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:113.625px;"><span style="position: absolute; display: inline-block; left: 261.297px; top: 0.0136718px; width: 59.3379px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Members of <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 347.938px; top: 0.0136718px; width: 207.053px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Employees<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal fair </span><span style="position: absolute; display: inline-block; left: 556.547px; top: 11.8828px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1,2</span><span style="position: absolute; display: inline-block; left: 255.625px; top: 12.0137px; width: 65.9941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">the Executive </span><span style="position: absolute; display: inline-block; left: 527.25px; top: 12.0137px; width: 25.2949px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">value</span><span style="position: absolute; display: inline-block; left: 319.391px; top: 23.8828px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 291.531px; top: 24.0137px; width: 28.0898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Board</span><span style="position: absolute; display: inline-block; left: 0px; top: 48.6855px; width: 552.803px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Outstanding performance shar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>es <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.77px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>No.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>No.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.381px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>No.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD million</span><span style="position: absolute; display: inline-block; left: 0px; top: 73.3574px; width: 479.115px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 237.551px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.5781px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 88.248px; width: 552.568px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gran<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ted<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 252.234px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,028<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,040<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,068<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9</span><span style="position: absolute; display: inline-block; left: 0px; top: 103.139px; width: 475.857px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Outstanding 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 136.096px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,028<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,040<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6,068</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span><span class="ws0">The fair<span class="_ _2"/> v<span class="_ _2"/>alue per perf<span class="_ _2"/>ormance share is equal t<span class="_ _2"/>o the v<span class="_ _2"/>olume weighted aver<span class="_ _2"/>age share pric<span class="_ _2"/>e on the date of gr<span class="_ _2"/>ant i.<span class="_ _2"/>e., 1 <span class="_ _2"/>April 2023<span class="_ _2"/>, <span class="ls0"> </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">adjusted for<span class="_ _2"/> expected dividends during <span class="_ _2"/>the vesting period.<span class="_ _2"/> The f<span class="_ _2"/>air <span class="_ _2"/>value per<span class="_ _2"/> performance share in<span class="_ _2"/> 2023 is DKK 10,299 for<span class="_ _2"/> members </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the Executive Boar<span class="_ _2"/>d and employees.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>T<span class="_ _0"/>otal fair <span class="_ _2"/>value is at <span class="_ _2"/>the time of gr<span class="_ _2"/>ant.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Performance shares plan</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">From 2023<span class="_ _2"/>,<span class="_ _2"/> performance shares ar<span class="_ _2"/>e gr<span class="_ _2"/>anted t<span class="_ _2"/>o members of the Executive Boar<span class="_ _2"/>d and certain k<span class="_ _2"/>ey emplo<span class="_ _2"/>yees.<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Each performance shar<span class="_ _2"/>e gr<span class="_ _2"/>anted is a right<span class="_ _2"/> to poten<span class="_ _2"/>tially<span class="_ _2"/> receive an<span class="_ _2"/> existing B share of nominal DKK 1,000 in<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Møller<span class="_ _2"/> - Mærsk A/S<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _2"/>r<span class="_ _2"/>ansfer<span class="_ _2"/> of B shares is con<span class="_ _2"/>tingent upon <span class="_ _2"/>the fulfilment<span class="_ _2"/> of certain performance crit<span class="_ _2"/>eria being met, <span class="_ _2"/>which may include<span class="_ _2"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">but ar<span class="_ _2"/>e not limited <span class="_ _2"/>to return<span class="_ _2"/> on invested capital,<span class="_ _2"/> rela<span class="_ _2"/>tive share perf<span class="_ _2"/>ormance, r<span class="_ _2"/>evenue gr<span class="_ _2"/>owth and ESG elements.<span class="_ _2"/> <span class="_ _2"/>V<span class="_ _2"/>esting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is also contingent<span class="_ _2"/> upon the employ<span class="_ _2"/>ee still being employed and not<span class="_ _2"/> under<span class="_ _2"/> notice of termination<span class="_ _2"/> when thr<span class="_ _2"/>ee years ha<span class="_ _2"/>ve </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">passed from <span class="_ _2"/>the date of gr<span class="_ _2"/>anting.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Employees ar<span class="_ _2"/>e not entitled <span class="_ _2"/>to any dividends during <span class="_ _2"/>the vesting period.<span class="_ _2"/> Special conditions appl<span class="_ _2"/>y re<span class="_ _2"/>garding il<span class="_ _2"/>lness,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">death and resigna<span class="_ _2"/>tion as well as chang<span class="_ _2"/>es in the company’<span class="_ _0"/>s capital structure, et<span class="_ _2"/>c. <span class="_ _0"/>A pa<span class="_ _2"/>rt <span class="_ _2"/>of <span class="_ _2"/>A.P<span class="_ _4"/>.<span class="_ _2"/> Møl<span class="_ _2"/>ler<span class="_ _0"/> - Mær<span class="_ _2"/>sk <span class="_ _2"/>A/S<span class="_ _0"/>’<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">treasury<span class="_ _2"/> B shares wil<span class="_ _2"/>l be used to meet<span class="_ _2"/> the company’<span class="_ _0"/>s obligations in connection with the perf<span class="_ _2"/>ormance shares plan.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The reco<span class="_ _2"/>gnised remuner<span class="_ _2"/>ation expense r<span class="_ _2"/>elated t<span class="_ _2"/>o the performance shar<span class="_ _2"/>es plan is USD 2m (USD<span class="_ _2"/> 0m). </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The aver<span class="_ _2"/>age remaining con<span class="_ _2"/>tractual lif<span class="_ _2"/>e of the performance shar<span class="_ _2"/>es as per<span class="_ _2"/> 31 December<span class="_ _2"/> 2023 is 2.3 years (N/<span class="_ _2"/>A<span class="_ _2"/> in 2022).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:259.65625px;"><span style="position: absolute; display: inline-block; left: 261.875px; top: 0.0136718px; width: 59.3379px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Members of <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 355.344px; top: 0.0136718px; width: 46.9512px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> key<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 452.234px; top: 0.0136718px; width: 103.066px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal fair </span><span style="position: absolute; display: inline-block; left: 556.078px; top: 11.8828px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1,2</span><span style="position: absolute; display: inline-block; left: 254.781px; top: 12.0137px; width: 65.9941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">the Executive </span><span style="position: absolute; display: inline-block; left: 337.406px; top: 12.0137px; width: 65.1855px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">management </span><span style="position: absolute; display: inline-block; left: 527.328px; top: 12.0137px; width: 25.2949px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">value</span><span style="position: absolute; display: inline-block; left: 319.391px; top: 23.8828px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 291.047px; top: 24.0137px; width: 28.0898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Board</span><span style="position: absolute; display: inline-block; left: 333.359px; top: 24.0137px; width: 68.1504px; white-space: pre; word-spacing: 0px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">personnel and </span><span style="position: absolute; display: inline-block; left: 395.5px; top: 35.8828px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">4</span><span style="position: absolute; display: inline-block; left: 344.141px; top: 36.0137px; width: 50.959px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">employees</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.6855px; width: 553.102px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Outstanding restricted shar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>es<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>No.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>No.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.381px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>No.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.3594px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD million</span><span style="position: absolute; display: inline-block; left: 0px; top: 85.3574px; width: 476.186px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.029px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">6,557<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17,253<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>23,810</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 100.248px; width: 552.445px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gran<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ted<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 277.143px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14,600<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14,600<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>23</span><span style="position: absolute; display: inline-block; left: 98.5px; top: 115.023px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 0px; top: 115.139px; width: 98.2207px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exercised and vested</span><span style="position: absolute; display: inline-block; left: 298.688px; top: 115.139px; width: 176.613px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">941<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,146<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,087</span><span style="position: absolute; display: inline-block; left: 0px; top: 129.295px; width: 476.109px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Forfeited<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 270.692px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.8261px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,183<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,183</span><span style="position: absolute; display: inline-block; left: 0px; top: 144.936px; width: 476.197px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cancelled<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 268.852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 68.0685px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12</span><span style="position: absolute; display: inline-block; left: 0px; top: 159.826px; width: 475.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Outstanding 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 136.096px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,616<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>24,512<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>30,128</span><span style="position: absolute; display: inline-block; left: 0px; top: 189.607px; width: 476.186px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2022<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.029px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">5,268<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>16,618<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21,886</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 204.498px; width: 552.604px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gran<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ted<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 252.234px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,289<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,431<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,720<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17</span><span style="position: absolute; display: inline-block; left: 98.5px; top: 219.273px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 0px; top: 219.389px; width: 98.2207px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exercised and vested</span><span style="position: absolute; display: inline-block; left: 312.125px; top: 219.404px; width: 164.432px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 49.4648px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,458<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,458</span><span style="position: absolute; display: inline-block; left: 0px; top: 234.295px; width: 476.027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Forfeited<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 267.978px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>338<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>338</span><span style="position: absolute; display: inline-block; left: 0px; top: 249.17px; width: 475.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Outstanding 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 136.096px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6,557<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>17,253<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>23,810</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span><span class="ws0">The fair<span class="_ _2"/> v<span class="_ _2"/>alue per RSU is equal <span class="_ _2"/>to the <span class="_ _2"/>volume weighted av<span class="_ _2"/>erage shar<span class="_ _2"/>e price on the dat<span class="_ _2"/>e of grant<span class="_ _2"/> i.e.,<span class="_ _2"/> 1 April 2023 (1 <span class="_ _2"/>April 2022),<span class="_ _2"/> <span class="ls0"> </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">adjusted for<span class="_ _2"/> expected dividends during <span class="_ _2"/>the vesting period.<span class="_ _2"/> The f<span class="_ _2"/>air <span class="_ _2"/>value per<span class="_ _2"/> RSU is DKK 10,299 (DKK 17<span class="_ _0"/>,466) for<span class="_ _2"/> employees and <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">DKK 9,295 (DKK 15<span class="_ _2"/>,7<span class="_ _2"/>63) for<span class="_ _2"/> members of the Executiv<span class="_ _2"/>e Board and other<span class="_ _2"/> key<span class="_ _2"/> management personnel.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>T<span class="_ _0"/>otal fair <span class="_ _2"/>value is at <span class="_ _2"/>the time of gr<span class="_ _2"/>ant.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>The weighted averag<span class="_ _2"/>e share price at <span class="_ _2"/>the settlement dat<span class="_ _2"/>e was DKK 12,<span class="_ _2"/>732 (DKK 20,372).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _9"> </span>Restricted shares gr<span class="_ _2"/>anted <span class="_ _2"/>to other<span class="_ _2"/> key<span class="_ _2"/> management personnel in 2022 <span class="_ _2"/>was 115 and outstanding shares at<span class="_ _2"/> year<span class="_ _2"/>-end 2022 was 403<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">There wer<span class="_ _2"/>e no key<span class="_ _2"/> management personnel in<span class="_ _2"/> 2023.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Restricted shares plan</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Restricted shar<span class="_ _2"/>es are gr<span class="_ _2"/>anted <span class="_ _2"/>to members of the Executiv<span class="_ _2"/>e Board and certain k<span class="_ _2"/>ey emplo<span class="_ _2"/>yees.<span class="_ _2"/> Each r<span class="_ _2"/>estricted share </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gran<span class="_ _2"/>ted is a right <span class="_ _2"/>to r<span class="_ _2"/>eceive an existing B shar<span class="_ _2"/>e of nominal DKK 1,000 in <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Møller<span class="_ _2"/> - Mærsk <span class="_ _2"/>A/S.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _2"/>r<span class="_ _2"/>ansfer<span class="_ _2"/> of B shares is con<span class="_ _2"/>tingent upon <span class="_ _2"/>the employee stil<span class="_ _2"/>l being employed and not under<span class="_ _0"/> notice of termina<span class="_ _2"/>tion<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and tak<span class="_ _2"/>es place when <span class="_ _2"/>three <span class="_ _2"/>years have passed fr<span class="_ _2"/>om the dat<span class="_ _2"/>e of granting.<span class="_ _2"/> For<span class="_ _2"/> members of the Ex<span class="_ _2"/>ecutive Board <span class="_ _2"/>the <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vesting period is five <span class="_ _2"/>years.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Employees ar<span class="_ _2"/>e not entitled <span class="_ _2"/>to any dividends during <span class="_ _2"/>the vesting period.<span class="_ _2"/> Special conditions appl<span class="_ _2"/>y re<span class="_ _2"/>garding il<span class="_ _2"/>lness,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">death and resigna<span class="_ _2"/>tion as well as chang<span class="_ _2"/>es in the company’<span class="_ _0"/>s capital structure, et<span class="_ _2"/>c. <span class="_ _0"/>A pa<span class="_ _2"/>rt <span class="_ _2"/>of <span class="_ _2"/>A.P<span class="_ _4"/>.<span class="_ _2"/> Møl<span class="_ _2"/>ler<span class="_ _0"/> - Mær<span class="_ _2"/>sk <span class="_ _2"/>A/S<span class="_ _0"/>’<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">treasury<span class="_ _2"/> B shares wil<span class="_ _2"/>l be used to meet<span class="_ _2"/> the company’<span class="_ _0"/>s obligations in connection with the r<span class="_ _2"/>estricted shar<span class="_ _2"/>es plan.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The reco<span class="_ _2"/>gnised remuner<span class="_ _2"/>ation expense r<span class="_ _2"/>elated t<span class="_ _2"/>o the r<span class="_ _2"/>estricted shares plan is USD<span class="_ _2"/> 16m (USD 15m).<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The aver<span class="_ _2"/>age remaining con<span class="_ _2"/>tractual lif<span class="_ _2"/>e of the r<span class="_ _2"/>estricted shares as per<span class="_ _2"/> 31 December<span class="_ _2"/> 2023 is 1.6 <span class="_ _2"/>years (1.6 y<span class="_ _2"/>ears).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:274.546875px;"><span style="position: absolute; display: inline-block; left: 193.5px; top: 0.0136718px; width: 59.6133px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Members of </span><span style="position: absolute; display: inline-block; left: 283.062px; top: 0.0136718px; width: 46.9512px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> key<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 380.141px; top: 0.0136718px; width: 102.668px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Aver<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>age <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 515.078px; top: 0.0136718px; width: 44.4609px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 188.594px; top: 12.0137px; width: 65.9941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">the Executive </span><span style="position: absolute; display: inline-block; left: 265.938px; top: 12.0137px; width: 65.1855px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">management </span><span style="position: absolute; display: inline-block; left: 442.047px; top: 12.0137px; width: 40.7402px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">exer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>cise <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 531.078px; top: 12.0137px; width: 25.2949px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">value</span><span style="position: absolute; display: inline-block; left: 223.234px; top: 24.0137px; width: 28.0898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Board</span><span style="position: absolute; display: inline-block; left: 261.297px; top: 24.0137px; width: 68.1504px; white-space: pre; word-spacing: 0px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">personnel and </span><span style="position: absolute; display: inline-block; left: 456.969px; top: 24.0137px; width: 25.7402px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">price </span><span style="position: absolute; display: inline-block; left: 323.641px; top: 35.8828px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 273.188px; top: 36.0137px; width: 50.959px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">employees</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.6855px; width: 557.168px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Outstanding share options<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.268px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>No.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>No.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.381px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>No.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>DKK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.3594px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD million</span><span style="position: absolute; display: inline-block; left: 0px; top: 85.373px; width: 480.498px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 141.147px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">19,600<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>73,436<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>93,036<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13,452</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 100.264px; width: 557.045px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gran<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ted<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 208.969px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>23,323<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>23,323<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13,257<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10</span><span style="position: absolute; display: inline-block; left: 45.2344px; top: 115.023px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 115.139px; width: 47.2207px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exercised </span><span style="position: absolute; display: inline-block; left: 221.781px; top: 115.139px; width: 258.375px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">4,439<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14,697<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>19,136<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8,633</span><span style="position: absolute; display: inline-block; left: 0px; top: 130.029px; width: 480.264px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Forfeited<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 202.898px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,436<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,436<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15,327</span><span style="position: absolute; display: inline-block; left: 0px; top: 144.92px; width: 480.217px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Outstanding 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.5821px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>15,161<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>78,626<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>93,787<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>14,318</span><span style="position: absolute; display: inline-block; left: 0px; top: 159.811px; width: 480.357px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Exercisable 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 73.4239px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,302<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>22,882<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>27,184<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>8,309</span><span style="position: absolute; display: inline-block; left: 0px; top: 189.607px; width: 480.252px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2022<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 141.147px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">24,930<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>77,831<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>102,761<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9,873</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 204.498px; width: 556.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gran<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ted<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 184.324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,677<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15,481<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>20,158<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25,096<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9</span><span style="position: absolute; display: inline-block; left: 45.2344px; top: 219.273px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 219.373px; width: 47.2207px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exercised </span><span style="position: absolute; display: inline-block; left: 221.781px; top: 219.404px; width: 258.375px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">8,866<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>18,486<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>27,352<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,998</span><span style="position: absolute; display: inline-block; left: 0px; top: 234.295px; width: 480.211px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Forfeited<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 177.685px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,141<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,390<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,531<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>19,818</span><span style="position: absolute; display: inline-block; left: 0px; top: 249.17px; width: 480.217px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Outstanding 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.5821px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>19,600<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>73,436<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>93,036<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>13,452</span><span style="position: absolute; display: inline-block; left: 0px; top: 264.061px; width: 480.34px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Exercisable 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 95.3906px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>7,071<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>7,071<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>8,637</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>The weighted av<span class="_ _2"/>erage shar<span class="_ _2"/>e price at <span class="_ _2"/>the dates of exer<span class="_ _2"/>cise of share options exer<span class="_ _2"/>cised in 2023 was DKK 12,6<span class="_ _2"/>7<span class="_ _2"/>4 (DKK 19,833).<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Share options gr<span class="_ _2"/>anted t<span class="_ _2"/>o other k<span class="_ _2"/>ey managemen<span class="_ _2"/>t personnel during 2022 was 5<span class="_ _2"/>70 and shar<span class="_ _2"/>es outstanding at y<span class="_ _2"/>ear-end 2022 was 2,2<span class="_ _2"/>43.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">There wer<span class="_ _2"/>e no key<span class="_ _2"/> management personnel in<span class="_ _2"/> 2023.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Share options plan</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>.<span class="_ _2"/> Mol<span class="_ _2"/>ler<span class="_ _0"/> - Maers<span class="_ _2"/>k also has a shar<span class="_ _2"/>e option plan gr<span class="_ _2"/>anted t<span class="_ _2"/>o members of the Executive Boar<span class="_ _2"/>d and other<span class="_ _2"/> key<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">employees.<span class="_ _2"/> Each shar<span class="_ _2"/>e option gr<span class="_ _2"/>anted is a call option<span class="_ _2"/> to buy<span class="_ _2"/> an existing B share o<span class="_ _2"/>f nominal DKK 1,000 in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Møller<span class="_ _2"/> - Mærsk A/S<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The share options ar<span class="_ _2"/>e grant<span class="_ _2"/>ed at an e<span class="_ _2"/>xercise price corr<span class="_ _2"/>esponding to 110% o<span class="_ _2"/>f the aver<span class="_ _2"/>age of <span class="_ _2"/>the market<span class="_ _2"/> price on the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">first five <span class="_ _2"/>trading da<span class="_ _2"/>ys following <span class="_ _2"/>the release of <span class="_ _2"/>A.P<span class="_ _4"/>. Møller<span class="_ _2"/> - Mærsk <span class="_ _2"/>A/S<span class="_ _2"/>’<span class="_ _0"/> most recent<span class="_ _2"/> Annual Report.<span class="_ _2"/> Exer<span class="_ _2"/>cise of the shar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">options is contingent<span class="_ _2"/> upon the option holder<span class="_ _0"/> still being employed at <span class="_ _2"/>the time of <span class="_ _2"/>vesting, <span class="_ _2"/>which tak<span class="_ _2"/>es place when <span class="_ _2"/>three </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">years have passed fr<span class="_ _2"/>om the da<span class="_ _2"/>te of gran<span class="_ _2"/>t. <span class="_ _2"/>The share options can<span class="_ _2"/> then be exer<span class="_ _2"/>cised when at<span class="_ _2"/> least <span class="_ _2"/>three <span class="_ _2"/>years and no </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">more <span class="_ _2"/>than six years (se<span class="_ _2"/>ven y<span class="_ _2"/>ears for<span class="_ _2"/> share options gr<span class="_ _2"/>anted <span class="_ _2"/>to employees not<span class="_ _2"/> members of the Executive Boar<span class="_ _2"/>d) have<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">passed from <span class="_ _2"/>the date of gr<span class="_ _2"/>ant.<span class="_ _2"/> Special conditions apply<span class="_ _2"/> regar<span class="_ _2"/>ding illness<span class="_ _2"/>, death and r<span class="_ _2"/>esignation as w<span class="_ _2"/>ell as changes in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the <span class="_ _1"/>company’<span class="_ _2"/>s capital structure etc.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The <span class="_ _1"/>share <span class="_ _1"/>opt<span class="_ _1"/>ions<span class="_ _1"/> can<span class="_ _1"/> only b<span class="_ _1"/>e se<span class="_ _1"/>ttle<span class="_ _1"/>d i<span class="_ _1"/>n sha<span class="_ _1"/>res. <span class="_ _2"/>A<span class="_ _2"/> part of <span class="_ _2"/>A.P<span class="_ _4"/>. Møller<span class="_ _2"/> - Mærsk A/S<span class="_ _0"/>’<span class="_ _2"/> holding of tr<span class="_ _2"/>easury B shar<span class="_ _2"/>es will </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">be used to meet<span class="_ _2"/> the compan<span class="_ _2"/>y’s obliga<span class="_ _2"/>tions in respect<span class="_ _2"/> of the shar<span class="_ _2"/>e option plan.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The reco<span class="_ _2"/>gnised remuner<span class="_ _2"/>ation expense r<span class="_ _2"/>elated t<span class="_ _2"/>o the shar<span class="_ _2"/>e option plan is USD 10m (USD 11m).<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The aver<span class="_ _2"/>age remaining con<span class="_ _2"/>tractual lif<span class="_ _2"/>e of the outstanding shar<span class="_ _2"/>e options as per 31 December<span class="_ _0"/> 2023 is 4.4 years </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(4.6 <span class="_ _2"/>years) and the r<span class="_ _2"/>ange of exer<span class="_ _2"/>cise prices for<span class="_ _2"/> <span class="_ _2"/>the outstanding share options as per<span class="_ _2"/> 31 December<span class="_ _2"/> 2023 is DKK 7<span class="_ _0"/>,605 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to DKK 25<span class="_ _2"/>,096 (DKK 7<span class="_ _0"/>,605 t<span class="_ _2"/>o DKK 25,096).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:248.75px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 424.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">The following principal assumptions ar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e used in <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>the 2023 grant<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed share options v<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>aluation:</span><span style="position: absolute; display: inline-block; left: 283.391px; top: 24.6855px; width: 104.227px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Share options gr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>anted</span><span style="position: absolute; display: inline-block; left: 430.781px; top: 24.6855px; width: 121.588px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Share options gr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>anted <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>to </span><span style="position: absolute; display: inline-block; left: 291.047px; top: 36.6855px; width: 93.252px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">to members of the </span><span style="position: absolute; display: inline-block; left: 462.969px; top: 36.6855px; width: 53.5195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">employees </span><span style="position: absolute; display: inline-block; left: 274.25px; top: 48.6855px; width: 128.859px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Executive Boar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>d and other </span><span style="position: absolute; display: inline-block; left: 271.391px; top: 60.6855px; width: 129.891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">key<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> management<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> personnel</span><span style="position: absolute; display: inline-block; left: 301.719px; top: 85.373px; width: 255.141px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 110.045px; width: 213.287px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Share price, <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>volume weighted a<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ver<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>age at <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>the </span><span style="position: absolute; display: inline-block; left: 0px; top: 122.045px; width: 556.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">date of gr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ant, 1 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>April, DKK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.799px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>20,372<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,732<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>20,372</span><span style="position: absolute; display: inline-block; left: 0px; top: 136.936px; width: 227.391px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Share price, five da<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ys volume <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>weighted aver<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>age </span><span style="position: absolute; display: inline-block; left: 186.031px; top: 148.805px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 148.936px; width: 186.475px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">after<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> publication of <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>Annual Report, DKK</span><span style="position: absolute; display: inline-block; left: 368px; top: 148.92px; width: 188.396px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">22,814<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11,992<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>22,814</span><span style="position: absolute; display: inline-block; left: 0px; top: 163.811px; width: 557.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exercise price, DKK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.018px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25,096<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13,191<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25,096</span><span style="position: absolute; display: inline-block; left: 0px; top: 178.701px; width: 557.332px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Expected v<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>olatility (based on historic <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>volatility)<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.928px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>33%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.9511px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>35%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.9511px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>33%</span><span style="position: absolute; display: inline-block; left: 0px; top: 193.592px; width: 556.91px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Expected term (years)<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 294.838px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.1875px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5.75<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.502px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5.75</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 208.482px; width: 556.869px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Expected dividend per<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> share, DKK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 222.627px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5.0%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5.0%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5.0%</span><span style="position: absolute; display: inline-block; left: 0px; top: 223.373px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Risk<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-free int<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erest r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 270.692px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>0.31%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2.65%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>0.35%</span><span style="position: absolute; display: inline-block; left: 0px; top: 238.264px; width: 559.594px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> value per<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> option at gr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ant<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> date, DKK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 118.875px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0.4725px; letter-spacing: -0.4725px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">N<span style="word-spacing: 0.4725px; letter-spacing: -0.4725px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>/A<span style="word-spacing: 0.4725px; letter-spacing: -0.4725px; display: inline-block; margin-left: 0px; width: 45.3866px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span></span> 2,859 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 3,067 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 3,082 </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>In 2023,<span class="_ _2"/> the ex<span class="_ _2"/>ercise price w<span class="_ _2"/>as determined based on the five-da<span class="_ _2"/>y volume-<span class="_ _2"/>weighted aver<span class="_ _2"/>age shar<span class="_ _2"/>e price after<span class="_ _2"/> the <span class="_ _2"/>Annual General Meeting.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _2"/> v<span class="_ _2"/>alue of the options gr<span class="_ _2"/>anted is based on <span class="_ _2"/>the Black<span class="_ _2"/>-<span class="_ _2"/>Scholes option pricing model using the assumptions <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the table above.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Equity<span class="_ _2"/>-settled performance shares<span class="_ _2"/>, r<span class="_ _2"/>estricted shares </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and share options gr<span class="_ _2"/>anted <span class="_ _2"/>to members of the Ex<span class="_ _2"/>ecutive </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Board and <span class="_ _2"/>to employees of <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk as part of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s long-term<span class="_ _2"/> incentive pro<span class="_ _2"/>gramme ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised as remuner<span class="_ _2"/>ation expenses over<span class="_ _0"/> the vesting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">period as per <span class="_ _2"/>the estimated fair<span class="_ _2"/> <span class="_ _2"/>value at<span class="_ _2"/> the gr<span class="_ _2"/>ant dat<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and resul<span class="_ _2"/>t in a corr<span class="_ _2"/>esponding adjustment <span class="_ _2"/>to equity<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">At<span class="_ _2"/> the end of each r<span class="_ _2"/>eporting period, <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">revises its estima<span class="_ _2"/>ted number<span class="_ _2"/> of awar<span class="_ _2"/>ds that<span class="_ _2"/> are expect<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to v<span class="_ _2"/>est based on <span class="_ _2"/>the non-market<span class="_ _2"/> vesting conditions and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">service conditions.<span class="_ _2"/> An<span class="_ _2"/>y impact o<span class="_ _2"/>f the re<span class="_ _2"/>vision is reco<span class="_ _2"/>gnised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the income sta<span class="_ _2"/>tement <span class="_ _2"/>with a corresponding adjustment<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to equity<span class="_ _0"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:94.796875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 556.957px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Fees and remuner<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ation t<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>o Executive Board and other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> key manag<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ement personnel<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fixed pay<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 429.551px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Short<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-term<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> cash incentive<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 352.547px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6</span><span style="position: absolute; display: inline-block; left: 160.344px; top: 54.3984px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 160.318px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Long-t<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erm share-based incentiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>es</span><span style="position: absolute; display: inline-block; left: 473.656px; top: 54.5137px; width: 82.8516px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.4043px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Remuner<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation in connection with<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> redundancy, r<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>esignation and release fr<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om duty <span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>to work<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: 0px; width: 62.6542px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8</span></span><span style="position: absolute; display: inline-block; left: 480.969px; top: 84.1797px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.2949px; width: 480.346px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal remuneration <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>to Executiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>e Board and other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> ke<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>y management<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> personnel<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 103.383px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6</span><span style="position: absolute; display: inline-block; left: 544.5px; top: 84.3105px; width: 12.8965px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">30</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span><span class="ws0">During 2022, it<span class="_ _2"/> was announced tha<span class="_ _2"/>t Morten Engelst<span class="_ _2"/>oft would leav<span class="_ _2"/>e A.P<span class="_ _3"/>. Moller - Maer<span class="_ _1"/>sk effective end June 2022 and Sør<span class="_ _2"/>en Skou effectiv<span class="_ _2"/>e </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">end De<span class="_ _2"/>cember<span class="_ _0"/> 2022. In accordanc<span class="_ _2"/>e with the <span class="_ _2"/>terms and conditions of the r<span class="_ _2"/>estricted share plan and <span class="_ _2"/>the stock option plan,<span class="_ _2"/> any r<span class="_ _2"/>emaining </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">expe<span class="_ _2"/>nses <span class="_ _2"/>rel<span class="_ _2"/>ated<span class="_ _2"/> to pr<span class="_ _2"/>evious years’<span class="_ _0"/> plans were acceler<span class="_ _2"/>ated and r<span class="_ _2"/>ecognised in 2022 for<span class="_ _2"/> plans <span class="_ _2"/>that wer<span class="_ _2"/>e kept,<span class="_ _2"/> and previousl<span class="_ _2"/>y reco<span class="_ _2"/>gnised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">expen<span class="_ _1"/>ses we<span class="_ _1"/>re reversed for<span class="_ _2"/> cancelled plans.<span class="_ _2"/> This r<span class="_ _2"/>esulted in an<span class="_ _2"/> increase in long-<span class="_ _2"/>term share-based inc<span class="_ _2"/>entives remuner<span class="_ _2"/>ation in 2022.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>In 2023,<span class="_ _2"/> the Executiv<span class="_ _2"/>e Board and other<span class="_ _2"/> key<span class="_ _2"/> management personnel <span class="_ _2"/>was reduced fr<span class="_ _2"/>om six to <span class="_ _2"/>two members.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The contr<span class="_ _2"/>act of employment<span class="_ _2"/> for<span class="_ _2"/> the Ex<span class="_ _2"/>ecutive Board contains <span class="_ _2"/>terms customary<span class="_ _2"/> in Danish listed companies<span class="_ _2"/>, including </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">termination notice and non-competition<span class="_ _2"/> clauses. In<span class="_ _2"/> connection with a possible <span class="_ _2"/>takeo<span class="_ _2"/>ver<span class="_ _2"/> offer<span class="_ _0"/>, neither<span class="_ _2"/> the Ex<span class="_ _2"/>ecutive </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Board nor<span class="_ _2"/> <span class="_ _2"/>the Board of Dir<span class="_ _2"/>ectors will r<span class="_ _2"/>eceive special remuner<span class="_ _2"/>ation.<span class="_ _2"/> Fees and remuner<span class="_ _2"/>ation do not<span class="_ _2"/> include pension.<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Key management<span class="_ _2"/> comprises of the Executiv<span class="_ _2"/>e Board,<span class="_ _2"/> Board of Dir<span class="_ _2"/>ectors,<span class="_ _2"/> and other<span class="_ _2"/> ke<span class="_ _2"/>y management<span class="_ _2"/> personnel.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>otal fees paid to other<span class="_ _0"/> key management<span class="_ _2"/> personnel in 2022 w<span class="_ _2"/>as USD 1.<span class="_ _2"/>9m, comprising short<span class="_ _2"/>-<span class="_ _2"/>term employ<span class="_ _2"/>ee bene<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fits of USD 1.8m and long-<span class="_ _2"/>term shar<span class="_ _2"/>e-based incentives of USD 0<span class="_ _2"/>.<span class="_ _0"/>1. <span class="_ _2"/>There <span class="_ _2"/>were no k<span class="_ _2"/>ey managemen<span class="_ _2"/>t personnel in 2023<span class="_ _2"/>.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Board of Dir<span class="_ _2"/>ectors has receiv<span class="_ _2"/>ed fees of USD 2m (USD<span class="_ _2"/> 2m).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _2"/> disclosure of r<span class="_ _2"/>emuneration<span class="_ _2"/> to <span class="_ _2"/>the Executive Boar<span class="_ _2"/>d of the par<span class="_ _2"/>ent company<span class="_ _0"/>, re<span class="_ _2"/>fer<span class="_ _2"/> to not<span class="_ _2"/>e 2.2 of the par<span class="_ _2"/>ent company<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">financial statements.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:94.796875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 556.957px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Fees and remuner<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ation t<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>o Executive Board and other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> key manag<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ement personnel<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fixed pay<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 429.551px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Short<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-term<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> cash incentive<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 352.547px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6</span><span style="position: absolute; display: inline-block; left: 160.344px; top: 54.3984px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 160.318px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Long-t<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erm share-based incentiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>es</span><span style="position: absolute; display: inline-block; left: 473.656px; top: 54.5137px; width: 82.8516px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.4043px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Remuner<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation in connection with<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> redundancy, r<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>esignation and release fr<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om duty <span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>to work<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: 0px; width: 62.6542px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8</span></span><span style="position: absolute; display: inline-block; left: 480.969px; top: 84.1797px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.2949px; width: 480.346px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal remuneration <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>to Executiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>e Board and other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> ke<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>y management<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> personnel<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 103.383px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6</span><span style="position: absolute; display: inline-block; left: 544.5px; top: 84.3105px; width: 12.8965px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">30</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span><span class="ws0">During 2022, it<span class="_ _2"/> was announced tha<span class="_ _2"/>t Morten Engelst<span class="_ _2"/>oft would leav<span class="_ _2"/>e A.P<span class="_ _3"/>. Moller - Maer<span class="_ _1"/>sk effective end June 2022 and Sør<span class="_ _2"/>en Skou effectiv<span class="_ _2"/>e </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">end De<span class="_ _2"/>cember<span class="_ _0"/> 2022. In accordanc<span class="_ _2"/>e with the <span class="_ _2"/>terms and conditions of the r<span class="_ _2"/>estricted share plan and <span class="_ _2"/>the stock option plan,<span class="_ _2"/> any r<span class="_ _2"/>emaining </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">expe<span class="_ _2"/>nses <span class="_ _2"/>rel<span class="_ _2"/>ated<span class="_ _2"/> to pr<span class="_ _2"/>evious years’<span class="_ _0"/> plans were acceler<span class="_ _2"/>ated and r<span class="_ _2"/>ecognised in 2022 for<span class="_ _2"/> plans <span class="_ _2"/>that wer<span class="_ _2"/>e kept,<span class="_ _2"/> and previousl<span class="_ _2"/>y reco<span class="_ _2"/>gnised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">expen<span class="_ _1"/>ses we<span class="_ _1"/>re reversed for<span class="_ _2"/> cancelled plans.<span class="_ _2"/> This r<span class="_ _2"/>esulted in an<span class="_ _2"/> increase in long-<span class="_ _2"/>term share-based inc<span class="_ _2"/>entives remuner<span class="_ _2"/>ation in 2022.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>In 2023,<span class="_ _2"/> the Executiv<span class="_ _2"/>e Board and other<span class="_ _2"/> key<span class="_ _2"/> management personnel <span class="_ _2"/>was reduced fr<span class="_ _2"/>om six to <span class="_ _2"/>two members.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The contr<span class="_ _2"/>act of employment<span class="_ _2"/> for<span class="_ _2"/> the Ex<span class="_ _2"/>ecutive Board contains <span class="_ _2"/>terms customary<span class="_ _2"/> in Danish listed companies<span class="_ _2"/>, including </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">termination notice and non-competition<span class="_ _2"/> clauses. In<span class="_ _2"/> connection with a possible <span class="_ _2"/>takeo<span class="_ _2"/>ver<span class="_ _2"/> offer<span class="_ _0"/>, neither<span class="_ _2"/> the Ex<span class="_ _2"/>ecutive </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Board nor<span class="_ _2"/> <span class="_ _2"/>the Board of Dir<span class="_ _2"/>ectors will r<span class="_ _2"/>eceive special remuner<span class="_ _2"/>ation.<span class="_ _2"/> Fees and remuner<span class="_ _2"/>ation do not<span class="_ _2"/> include pension.<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Key management<span class="_ _2"/> comprises of the Executiv<span class="_ _2"/>e Board,<span class="_ _2"/> Board of Dir<span class="_ _2"/>ectors,<span class="_ _2"/> and other<span class="_ _2"/> ke<span class="_ _2"/>y management<span class="_ _2"/> personnel.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>otal fees paid to other<span class="_ _0"/> key management<span class="_ _2"/> personnel in 2022 w<span class="_ _2"/>as USD 1.<span class="_ _2"/>9m, comprising short<span class="_ _2"/>-<span class="_ _2"/>term employ<span class="_ _2"/>ee bene<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fits of USD 1.8m and long-<span class="_ _2"/>term shar<span class="_ _2"/>e-based incentives of USD 0<span class="_ _2"/>.<span class="_ _0"/>1. <span class="_ _2"/>There <span class="_ _2"/>were no k<span class="_ _2"/>ey managemen<span class="_ _2"/>t personnel in 2023<span class="_ _2"/>.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Board of Dir<span class="_ _2"/>ectors has receiv<span class="_ _2"/>ed fees of USD 2m (USD<span class="_ _2"/> 2m).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _2"/> disclosure of r<span class="_ _2"/>emuneration<span class="_ _2"/> to <span class="_ _2"/>the Executive Boar<span class="_ _2"/>d of the par<span class="_ _2"/>ent company<span class="_ _0"/>, re<span class="_ _2"/>fer<span class="_ _2"/> to not<span class="_ _2"/>e 2.2 of the par<span class="_ _2"/>ent company<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">financial statements.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 5.<span class="_ _2"/>6 <span class="_"> </span>R<span class="_ _2"/>elat<span class="_ _2"/>ed parties</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:396.771484375px;"><span style="position: absolute; display: inline-block; left: 548.281px; top: 0.0078125px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 547.883px; top: 0.138672px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 207.5px; top: 0.138672px; width: 57.1699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Control<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ling </span><span style="position: absolute; display: inline-block; left: 306.219px; top: 0.138672px; width: 56.1797px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Associated </span><span style="position: absolute; display: inline-block; left: 391.953px; top: 0.138672px; width: 93.3867px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Joint ven<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tures<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 217.281px; top: 12.1387px; width: 32.7012px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">parties</span><span style="position: absolute; display: inline-block; left: 306.219px; top: 12.1387px; width: 50.6133px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">companies</span><span style="position: absolute; display: inline-block; left: 203.156px; top: 36.8105px; width: 352.945px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 20.7422px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.2109px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 20.7422px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.2109px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 20.7422px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.2109px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 20.7422px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 61.793px; width: 80.9297px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Income statement</span><span style="position: absolute; display: inline-block; left: 0px; top: 76.373px; width: 559.723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Revenue<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 182.912px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>65<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>52<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>69<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.7852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>186<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 511.094px; top: 91.1484px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 544.5px; top: 91.2637px; width: 12.8965px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">14</span><span style="position: absolute; display: inline-block; left: 0px; top: 91.2637px; width: 510.463px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Opera<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ting costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 143.086px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>47<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>38<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.0938px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>570<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.7852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>550<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.0938px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>566<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.7852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>593<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13</span><span style="position: absolute; display: inline-block; left: 0px; top: 106.17px; width: 557.01px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Remuner<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation to Management<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 81.4395px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>34</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 121.061px; width: 559.787px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Financial income<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.947px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>95<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>45<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 230.109px; top: 135.82px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 0px; top: 135.936px; width: 229.629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.09px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15</span><span style="position: absolute; display: inline-block; left: 269.484px; top: 135.951px; width: 289.787px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 166.043px; width: 27.9961px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Assets</span><span style="position: absolute; display: inline-block; left: 0px; top: 180.67px; width: 559.611px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables, non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.8848px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>30<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>27<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 195.561px; width: 559.354px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ade receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>35<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 210.451px; width: 559.494px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables, current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 88.7873px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>681<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>380<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 225.342px; width: 559.699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cash and bank balances<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 98.1795px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>277<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.7852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>730<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 255.434px; width: 43.043px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Liabilities</span><span style="position: absolute; display: inline-block; left: 0px; top: 270.014px; width: 165.445px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bank and other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> credit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> institutions, </span><span style="position: absolute; display: inline-block; left: 0px; top: 282.014px; width: 559.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">etc., curren<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>t<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 166.793px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>67<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>44<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 296.904px; width: 556.664px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ade payables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 154.916px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.8848px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>79<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>62<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>89<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>82<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2</span><span style="position: absolute; display: inline-block; left: 0px; top: 311.795px; width: 559.541px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 236.525px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>45<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 230.109px; top: 341.477px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">4</span><span style="position: absolute; display: inline-block; left: 247px; top: 341.592px; width: 29.0859px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1,332</span><span style="position: absolute; display: inline-block; left: 0px; top: 341.576px; width: 229.729px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Shares bought<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> back<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.393px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,569</span><span style="position: absolute; display: inline-block; left: 319.391px; top: 341.592px; width: 240.369px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 356.482px; width: 559.26px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Capital increase<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 150.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>31<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 371.373px; width: 559.348px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Dividends earned<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 144.522px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>219<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.0938px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>191<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>95<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.0938px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>137<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 230.109px; top: 386.148px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">5</span><span style="position: absolute; display: inline-block; left: 247px; top: 386.279px; width: 29.0859px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">3,613</span><span style="position: absolute; display: inline-block; left: 0px; top: 386.264px; width: 229.893px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Dividends distributed<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 100.822px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,974</span><span style="position: absolute; display: inline-block; left: 319.391px; top: 386.279px; width: 240.369px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>The Board of Dir<span class="_ _2"/>ectors and the Executive Boar<span class="_ _2"/>d of A.P<span class="_ _4"/>. Møller<span class="_ _2"/> - Mærsk A/S<span class="_ _2"/>, <span class="_ _2"/>A.P<span class="_ _3"/>. Møller<span class="_ _0"/> Holding A/S,<span class="_ _2"/> A.P<span class="_ _3"/>.<span class="_ _2"/> Møller<span class="_ _2"/> og Hustru Chastine </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Mc<span class="_ _2"/>-Kinney<span class="_ _2"/> Møllers Fond til almene Formaal and <span class="_ _2"/>their close r<span class="_ _2"/>elatives (including undertakings under<span class="_ _2"/> their<span class="_ _2"/> contr<span class="_ _2"/>ol). <span class="_ _2"/>T<span class="_ _2"/>rade r<span class="_ _2"/>eceivables </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and payables include customary<span class="_ _2"/> business-relat<span class="_ _2"/>ed accounts reg<span class="_ _2"/>arding shipping activities.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Includes commission and commercial r<span class="_ _2"/>eceivables <span class="_ _2"/>to Maersk Brok<span class="_ _2"/>er K/S fr<span class="_ _2"/>om chartering as wel<span class="_ _2"/>l as the purchase and sale o<span class="_ _2"/>f vessels.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Includes the gain on sale of Maersk Supply Servic<span class="_ _2"/>e to <span class="_ _2"/>A.P<span class="_ _3"/>. Møller<span class="_ _2"/> Holding <span class="_ _2"/>A/S.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _9"> </span><span class="ws0">Includes shares bought<span class="_ _2"/> back from <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Møl<span class="_ _2"/>ler<span class="_ _0"/> Holding A/S and A.P<span class="_ _0"/>.<span class="_ _2"/> Møller<span class="_ _2"/> og Hustru Chastine Mc<span class="_ _2"/>-Kinney<span class="_ _2"/> Møllers Familie<span class="_ _2"/> <span class="_ _3"/>fond <span class="ls0"> </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(the Foundation).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">5 <span class="_ _9"> </span><span class="ls6e">Includes<span class="_ _2"/> divi<span class="_ _2"/>dends<span class="_ _2"/> paid <span class="_ _2"/>to<span class="_ _2"/> A<span class="_ _2"/>.P<span class="_ _3"/>. <span class="_ _2"/>Møll<span class="_ _2"/>er<span class="_ _2"/> Hol<span class="_ _2"/>ding <span class="_ _2"/>A/S<span class="_ _0"/>, A<span class="_ _2"/>.P<span class="_ _3"/>.<span class="_ _2"/> Møller<span class="_ _2"/> og Hustru Chastine Mc<span class="_ _0"/>-Kinney Møllers Familie<span class="_ _2"/>fond (the Foundation) <span class="ls0"> </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and D<span class="_ _1"/>en A.P<span class="_ _3"/>. Møllersk<span class="_ _2"/>e Støttef<span class="_ _2"/>ond.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Joint usage agr<span class="_ _2"/>eement with<span class="_ _2"/> A.P<span class="_ _3"/>.<span class="_ _2"/> Møller<span class="_ _2"/> Holding <span class="_ _2"/>A/S</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">With the objective o<span class="_ _2"/>f further str<span class="_ _2"/>engthening the <span class="_ _2"/>value of <span class="_ _2"/>the brands<span class="_ _2"/>, <span class="_ _2"/>A.P<span class="_ _4"/>. Møller<span class="_ _2"/> - Mærsk <span class="_ _2"/>A/S in 2018 enter<span class="_ _2"/>ed into a joint<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">usage agreement<span class="_ _2"/> with <span class="_ _2"/>A.P<span class="_ _4"/>. Møller<span class="_ _2"/> Holding <span class="_ _2"/>A/S reg<span class="_ _2"/>arding <span class="_ _2"/>the use of commonly used <span class="_ _2"/>tr<span class="_ _2"/>ademarks which historicall<span class="_ _2"/>y hav<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">benefited both <span class="_ _2"/>A.P<span class="_ _4"/>. Møller<span class="_ _2"/> - Mærsk <span class="_ _2"/>A/S and A.P<span class="_ _4"/>. Møller<span class="_ _0"/> Holding A/S.<span class="_ _2"/> <span class="_ _2"/>A.P<span class="_ _4"/>. Møller<span class="_ _2"/> Holding A/S is <span class="_ _2"/>the contr<span class="_ _2"/>olling shareholder<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of <span class="_ _2"/>A.<span class="_ _2"/>P<span class="_ _4"/>. Mø<span class="_ _2"/>ller<span class="_ _0"/> - Mær<span class="_ _2"/>sk <span class="_ _2"/>A/S<span class="_ _2"/> and is wholl<span class="_ _2"/>y owned by<span class="_ _2"/> A<span class="_ _2"/>.P<span class="_ _4"/>. M<span class="_ _2"/>øll<span class="_ _2"/>er<span class="_ _2"/> og Hustru Chastine Mc<span class="_ _0"/>-Kinney Møllers Fond <span class="_ _2"/>til almene </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Formaal. <span class="_ _2"/>The joint<span class="_ _2"/> usage agreement<span class="_ _2"/> establishes a fr<span class="_ _2"/>amework and a br<span class="_ _2"/>anding stra<span class="_ _2"/>tegy f<span class="_ _2"/>or <span class="_ _2"/>the commonly<span class="_ _2"/> used tr<span class="_ _2"/>ade<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">marks and a joint<span class="_ _2"/> brand boar<span class="_ _2"/>d, <span class="_ _2"/>where the parties can<span class="_ _2"/> cooperat<span class="_ _2"/>e reg<span class="_ _2"/>arding <span class="_ _2"/>the use of these tr<span class="_ _0"/>ademarks.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>A.P<span class="_ _4"/>. Møller<span class="_ _2"/> Holding A/S<span class="_ _0"/>, Copenhagen, Denmark has con<span class="_ _2"/>trol over<span class="_ _0"/> the company and pr<span class="_ _2"/>epares consolidat<span class="_ _2"/>ed financial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">statements.<span class="_ _2"/> <span class="_ _2"/>A.P<span class="_ _4"/>. Møller<span class="_ _2"/> og Hustru Chastine Mc<span class="_ _0"/>-Kinney Møllers Fond <span class="_ _2"/>til almene Formaal is the ul<span class="_ _2"/>timate owner<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Share buy<span class="_ _2"/>-back progr<span class="_ _2"/>amme</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Accordi<span class="_ _1"/>ng to <span class="_ _1"/>a sep<span class="_ _1"/>arate ag<span class="_ _1"/>reemen<span class="_ _1"/>t, <span class="_ _2"/>A.P<span class="_ _4"/>. Møller<span class="_ _2"/> Holding <span class="_ _2"/>A/S and A.P<span class="_ _4"/>. Møller<span class="_ _0"/> og Hustru Chastine Mc<span class="_ _2"/>-Kinney Møl<span class="_ _2"/>lers </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Familief<span class="_ _2"/>ond (the Foundation) participated on a<span class="_ _2"/> pro r<span class="_ _2"/>ata basis t<span class="_ _2"/>o the shar<span class="_ _2"/>es purchased in <span class="_ _2"/>the company’<span class="_ _2"/>s share buy<span class="_ _2"/>-back </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">progr<span class="_ _2"/>amme.<span class="_ _2"/> <span class="_ _2"/>A.P<span class="_ _4"/>. Møller<span class="_ _2"/> Holding A/S participa<span class="_ _2"/>ted in selling <span class="_ _2"/>A<span class="_ _2"/> and B shares and <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Møller<span class="_ _2"/> og Hustru Chastine Mc<span class="_ _0"/>-Kinney </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Møllers F<span class="_ _2"/>amiliefond (the Foundation) participat<span class="_ _2"/>ed in selling B shar<span class="_ _2"/>es.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:94.734375px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 556.752px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Fees to the statutory auditors<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 309.369px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Statutory<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> audit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 556.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> assurance services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 357.709px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ax, V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>A<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> and advisory services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 333.264px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 407.752px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal fees<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 419.989px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>20<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>19</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fees for<span class="_ _2"/> other<span class="_ _2"/> services other<span class="_ _2"/> than statut<span class="_ _2"/>ory audit<span class="_ _2"/> of the financial statemen<span class="_ _2"/>ts provided by<span class="_ _2"/> Pricewat<span class="_ _2"/>erhouseCoopers <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Statsautoriser<span class="_ _2"/>et Re<span class="_ _2"/>visionspartnerselskab to <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk mainly<span class="_ _2"/> consist of <span class="_ _2"/>tr<span class="_ _2"/>ansaction advice,<span class="_ _2"/> accounting and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax-relat<span class="_ _2"/>ed services.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 2.3 <span class="_"> </span>Depreciation, amor<span class="_ _2"/>tisation and impairment losses, net</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:79.84375px;"><span style="position: absolute; display: inline-block; left: 454.141px; top: 0.0136718px; width: 102.393px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 557.232px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal depreciation <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 364.166px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,856<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,595</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal amortisation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 374.543px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>382<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>365</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal impairment, net <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 356.033px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>377<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>226</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.646px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Depreciation, amortisation and impairment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> losses, net<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 188.69px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6,615<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6,186</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Depreciation is r<span class="_ _2"/>elated <span class="_ _2"/>to property<span class="_ _0"/>, plant<span class="_ _2"/> and equipment of USD<span class="_ _2"/> 2.6bn (USD 2.5bn) and <span class="_ _2"/>to right<span class="_ _2"/>-of-use assets of USD </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3.3bn<span class="_ _2"/> (USD 3.<span class="_ _0"/>1bn).<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>otal net impairments are primaril<span class="_ _2"/>y due <span class="_ _2"/>to property<span class="_ _0"/>, plant<span class="_ _2"/> and equipment of USD 55m<span class="_ _2"/> (USD 139m) and intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets of USD 322m (USD 68m),<span class="_ _2"/> of which<span class="_ _2"/> USD 299m is from<span class="_ _2"/> the impairment<span class="_ _2"/> of brands<span class="_ _2"/>. Ref<span class="_ _2"/>er<span class="_ _2"/> to note 3<span class="_ _2"/>.<span class="_ _0"/>1 Intangible assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and note 3<span class="_ _2"/>.2 Property<span class="_ _0"/>, plant and equipment.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 3.<span class="_ _2"/>1 <span class="_ _1c7"> </span>Intangible assets</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:354.140625px;"><span style="position: absolute; display: inline-block; left: 210.562px; top: 0.0136718px; width: 119.912px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Goodwill<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 358.734px; top: 0.0136718px; width: 47.5488px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Customer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 431.109px; top: 0.0136718px; width: 50.8828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> incl. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 534px; top: 0.0136718px; width: 23.5195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 274.609px; top: 12.0137px; width: 55.1133px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">and service <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 342.25px; top: 12.0137px; width: 63.5684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">relationships </span><span style="position: absolute; display: inline-block; left: 427.766px; top: 12.0137px; width: 52.9863px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">IT<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> software</span><span style="position: absolute; display: inline-block; left: 275.953px; top: 24.0137px; width: 54.1699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">concession </span><span style="position: absolute; display: inline-block; left: 351.719px; top: 24.0137px; width: 52.5527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">and brands</span><span style="position: absolute; display: inline-block; left: 300.406px; top: 36.0137px; width: 27.4629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">rights</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.9961px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Cost</span><span style="position: absolute; display: inline-block; left: 0px; top: 75.5762px; width: 556.764px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.445px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">5,554<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,985<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,043<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,371<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,953</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 90.4668px; width: 557.033px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 201.931px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>183<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>204</span><span style="position: absolute; display: inline-block; left: 166.406px; top: 105.242px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 105.357px; width: 166.529px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions from acquir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed companies</span><span style="position: absolute; display: inline-block; left: 247px; top: 105.373px; width: 310.271px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14</span><span style="position: absolute; display: inline-block; left: 0px; top: 120.248px; width: 556.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>402<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>234<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>642</span><span style="position: absolute; display: inline-block; left: 0px; top: 135.139px; width: 557.174px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 87.1642px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-332<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-356</span><span style="position: absolute; display: inline-block; left: 0px; top: 150.029px; width: 556.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.268px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>70</span><span style="position: absolute; display: inline-block; left: 0px; top: 164.92px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,230<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,031<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,659<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,323<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>12,243</span><span style="position: absolute; display: inline-block; left: 0px; top: 195.027px; width: 162.439px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Amortisation and impairment losses</span><span style="position: absolute; display: inline-block; left: 0px; top: 209.607px; width: 556.752px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.412px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">349<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>824<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>491<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>504<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,168</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 224.482px; width: 557.004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Amortisation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 184.804px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>103<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>158<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>121<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>382</span><span style="position: absolute; display: inline-block; left: 0px; top: 239.373px; width: 556.734px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 159.639px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>299<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>23<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>322</span><span style="position: absolute; display: inline-block; left: 0px; top: 254.264px; width: 556.711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 201.931px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>402<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>79<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>481</span><span style="position: absolute; display: inline-block; left: 0px; top: 269.154px; width: 556.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 87.1642px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-279<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-297</span><span style="position: absolute; display: inline-block; left: 0px; top: 284.045px; width: 557.033px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 112.166px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25</span><span style="position: absolute; display: inline-block; left: 0px; top: 298.936px; width: 556.875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.185px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>69<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>937<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>542<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>571<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,119</span><span style="position: absolute; display: inline-block; left: 0px; top: 329.027px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carrying amount:</span><span style="position: absolute; display: inline-block; left: 327.891px; top: 343.539px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 374.859px; top: 343.654px; width: 105.434px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">2,117<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>752</span><span style="position: absolute; display: inline-block; left: 0px; top: 343.607px; width: 327.305px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,161<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,094</span><span style="position: absolute; display: inline-block; left: 521.297px; top: 343.654px; width: 35.5371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">10,124</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Acquisition of Martin Bencher<span class="_ _2"/> and Grindrod.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Of which USD 49m is under<span class="_ _2"/> developmen<span class="_ _2"/>t. USD 34m is r<span class="_ _2"/>elated <span class="_ _2"/>to terminal rights <span class="_ _2"/>with indefinite useful lives </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in Poti Sea Port<span class="_ _2"/> Corp. Service conc<span class="_ _2"/>ession rights with a carrying amount<span class="_ _2"/> of USD 70m ha<span class="_ _2"/>ve restricted <span class="_ _2"/>title.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Of which USD 162m is related <span class="_ _2"/>to ongoing development<span class="_ _2"/> of softwar<span class="_ _2"/>e. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:383.9375px;"><span style="position: absolute; display: inline-block; left: 210.562px; top: 0.0136718px; width: 119.912px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Goodwill<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 359.719px; top: 0.0136718px; width: 47.5488px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Customer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 431.828px; top: 0.0136718px; width: 50.8828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> incl. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 534.188px; top: 0.0136718px; width: 23.5195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 274.25px; top: 12.0137px; width: 55.1133px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">and service <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 342.75px; top: 12.0137px; width: 63.5684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">relationships </span><span style="position: absolute; display: inline-block; left: 428.422px; top: 12.0137px; width: 52.9863px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">IT<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> software</span><span style="position: absolute; display: inline-block; left: 275.266px; top: 24.0137px; width: 54.1699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">concession </span><span style="position: absolute; display: inline-block; left: 351.047px; top: 24.0137px; width: 52.5527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">and brands</span><span style="position: absolute; display: inline-block; left: 299.969px; top: 36.0137px; width: 27.4629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">rights</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.9961px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Cost</span><span style="position: absolute; display: inline-block; left: 0px; top: 75.5762px; width: 556.764px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2022<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.445px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1,928<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,132<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,579<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,205<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,844</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 90.4668px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.306px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>324<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>349</span><span style="position: absolute; display: inline-block; left: 165.828px; top: 105.242px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 105.357px; width: 166.529px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions from acquir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed companies</span><span style="position: absolute; display: inline-block; left: 221.781px; top: 105.373px; width: 334.928px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">3,667<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,474<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>213<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,354</span><span style="position: absolute; display: inline-block; left: 0px; top: 120.248px; width: 556.729px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.306px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>352<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>352</span><span style="position: absolute; display: inline-block; left: 0px; top: 135.139px; width: 559.494px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 62.6542px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 150.029px; width: 557.238px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 103.816px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-104<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-103</span><span style="position: absolute; display: inline-block; left: 0px; top: 164.92px; width: 557.098px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 105.586px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-41<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-64<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-24<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-139</span><span style="position: absolute; display: inline-block; left: 0px; top: 179.811px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,554<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,985<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,043<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,371<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>12,953</span><span style="position: absolute; display: inline-block; left: 0px; top: 209.918px; width: 162.439px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Amortisation and impairment losses</span><span style="position: absolute; display: inline-block; left: 0px; top: 224.482px; width: 556.752px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2022<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.412px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">367<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>794<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>324<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>590<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,075</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 239.373px; width: 556.969px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Amortisation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 182.338px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>110<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>147<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>108<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>365</span><span style="position: absolute; display: inline-block; left: 0px; top: 254.264px; width: 556.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.412px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>32<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>68</span><span style="position: absolute; display: inline-block; left: 0px; top: 269.154px; width: 556.729px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.306px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>221<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>221</span><span style="position: absolute; display: inline-block; left: 0px; top: 284.045px; width: 559.494px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 62.6542px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 298.936px; width: 556.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 103.816px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-79<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-78</span><span style="position: absolute; display: inline-block; left: 0px; top: 313.826px; width: 557.051px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 105.586px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-18<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-41</span><span style="position: absolute; display: inline-block; left: 0px; top: 328.717px; width: 556.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.033px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>349<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>824<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>491<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>504<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,168</span><span style="position: absolute; display: inline-block; left: 0px; top: 358.809px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carrying amount:</span><span style="position: absolute; display: inline-block; left: 327.406px; top: 373.32px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 374.75px; top: 373.451px; width: 105.434px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">2,552<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>867</span><span style="position: absolute; display: inline-block; left: 0px; top: 373.389px; width: 327.305px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,205<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,161</span><span style="position: absolute; display: inline-block; left: 521.891px; top: 373.451px; width: 35.5371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">10,785</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Acquisition of LF<span class="_ _2"/> Logistics,<span class="_ _2"/> Pilot, Senat<span class="_ _2"/>or In<span class="_ _2"/>ternational and ResQ.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Of which USD 38m is under<span class="_ _2"/> developmen<span class="_ _2"/>t. USD 34m is r<span class="_ _2"/>elated <span class="_ _2"/>to terminal rights <span class="_ _2"/>with indefinite useful lives in Poti Sea P<span class="_ _2"/>ort Corp.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Service concession rights with a<span class="_ _2"/> carrying amount of USD 7<span class="_ _2"/>0m have restrict<span class="_ _2"/>ed title.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Of which USD 141m is related <span class="_ _2"/>to ongoing development<span class="_ _2"/> of softwar<span class="_ _2"/>e.</span></span> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:129.1875px;"><span style="position: absolute; display: inline-block; left: 428.422px; top: 0.0136718px; width: 121.518px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Goodwill carrying amount</span><span style="position: absolute; display: inline-block; left: 0px; top: 23.8418px; width: 556.699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Operating se<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>gment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>Cash-gener<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ating unit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 204.533px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 48.5137px; width: 559.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 119.918px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Ocean <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 280.852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>316<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 316 </span><span style="position: absolute; display: inline-block; left: 0px; top: 62.5605px; width: 559.652px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Logistics &amp; Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.9511px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Logistics &amp; Services <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 207.832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,599<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 4,582 </span><span style="position: absolute; display: inline-block; left: 0px; top: 76.5918px; width: 148.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 103.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 148.951px; top: 76.5918px; width: 410.771px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Multiple t<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminals <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 223.558px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">241<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 248 </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 90.623px; width: 559.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owage &amp; Maritime Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.2304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ow<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>age – Port <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owage <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>Amster<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>dam and Others<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 109.43px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 58 </span><span style="position: absolute; display: inline-block; left: 0px; top: 104.67px; width: 559.57px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 449.501px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 1 </span><span style="position: absolute; display: inline-block; left: 0px; top: 118.701px; width: 559.266px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 426.675px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,161<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 5,205 </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:116px;"><span style="position: absolute; display: inline-block; left: 445.703px; top: 0.0136718px; width: 86.6836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Operating se<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>gment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 99.3457px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>Cash-genera<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ting unit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 162.451px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span></span><span style="position: absolute; display: inline-block; left: 480.969px; top: 49.2266px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 482.93px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 162.451px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 238.213px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 319 </span><span style="position: absolute; display: inline-block; left: 541.562px; top: 49.3574px; width: 18.0234px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> 28 </span><span style="position: absolute; display: inline-block; left: 480.969px; top: 63.2734px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 63.4043px; width: 482.801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Logistics &amp; Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 98.8946px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Logistics &amp; Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 187.319px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 2 </span><span style="position: absolute; display: inline-block; left: 541.562px; top: 63.4043px; width: 18.0234px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> 21 </span><span style="position: absolute; display: inline-block; left: 0px; top: 77.4355px; width: 191.338px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.77px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 191.338px; top: 77.4355px; width: 368.291px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">V<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>arious terminals<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 17 </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 91.4824px; width: 559.441px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owage &amp; Maritime Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Maersk Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> Industry<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.914px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 1 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.7989px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 2 </span><span style="position: absolute; display: inline-block; left: 0px; top: 105.514px; width: 559.014px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 434.07px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 322 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 68 </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span><span class="ws0">On 27<span class="_ _2"/> January 2023<span class="_ _2"/>, it<span class="_ _2"/> was announced <span class="_ _2"/>that <span class="_ _2"/>the Group would mov<span class="_ _2"/>e tow<span class="_ _2"/>ards a singular<span class="_ _2"/> and unified brand b<span class="_ _2"/>y integr<span class="_ _2"/>ating <span class="_ _2"/>the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _3"/>. Moller<span class="_ _2"/> - Maersk br<span class="_ _2"/>ands. Existing br<span class="_ _2"/>ands wer<span class="_ _2"/>e retir<span class="_ _2"/>ed during Q1 2023,<span class="_ _2"/> resulting in<span class="_ _2"/> the reco<span class="_ _2"/>gnition of impairment losses of <span class="_ _2"/>the full </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">carrying amount of each r<span class="_ _2"/>espective retir<span class="_ _2"/>ed brand on <span class="_ _2"/>the balance sheet. <span class="_ _2"/>T<span class="_ _0"/>otal impairment losses rela<span class="_ _2"/>ted to <span class="_ _2"/>the retiremen<span class="_ _2"/>t of br<span class="_ _2"/>ands in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2023 <span class="_ _1"/>recognis<span class="_ _1"/>ed i<span class="_ _1"/>n the income statement is USD 299m,<span class="_ _2"/> of which USD 297<span class="_ _2"/>m is within Ocean<span class="_ _2"/> and USD 2m is within Logistics &amp; Services<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"> </span> <span class="_ _a"/>SIGNIFICANT<span class="_ _2"/> ACCOUNTING ESTIMA<span class="_ _2"/>TES AND<span class="_ _2"/> JUDGEMENTS </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Significant accounting judg<span class="_ _2"/>ements</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Determination of<span class="_ _2"/> cash-generating units</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Judgement is applied in<span class="_ _2"/> the determination<span class="_ _2"/> of cash- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gener<span class="_ _2"/>ating units to <span class="_ _2"/>which goodwill is alloca<span class="_ _2"/>ted for<span class="_ _2"/> impair-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment <span class="_ _2"/>testing and in <span class="_ _2"/>the selection of methodologies and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assumptions applied in impairment <span class="_ _2"/>tests.<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The determination of cash-gener<span class="_ _2"/>ating units diff<span class="_ _2"/>ers </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on the business ar<span class="_ _2"/>ea. Oc<span class="_ _2"/>ean opera<span class="_ _2"/>tes its fleet of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">container<span class="_ _2"/> vessels and hub <span class="_ _2"/>terminals in an in<span class="_ _2"/>tegr<span class="_ _2"/>ated <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">net <span class="_ _4"/>work. Consequently<span class="_ _0"/>, the Oc<span class="_ _2"/>ean activities are <span class="_ _2"/>tested </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _2"/> impairment as a<span class="_ _2"/> single cash-genera<span class="_ _2"/>ting unit. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Logistics &amp; Services,<span class="_ _2"/> including intermodal activities,<span class="_ _2"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considered a single cash-g<span class="_ _2"/>enerating unit.<span class="_ _2"/> Management<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">views the Lo<span class="_ _2"/>gistics &amp; Services products as an int<span class="_ _2"/>egr<span class="_ _2"/>ated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">network, <span class="_ _2"/>with the activities <span class="_ _2"/>tested for<span class="_ _0"/> impairment as a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">single cash-gener<span class="_ _2"/>ating unit. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In <span class="_ _2"/>T<span class="_ _0"/>erminals, each <span class="_ _2"/>terminal is considered an<span class="_ _2"/> individual </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash-gener<span class="_ _2"/>ating unit for<span class="_ _0"/> impairment tests<span class="_ _2"/>, exc<span class="_ _2"/>ept when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the capacity is managed as a portf<span class="_ _2"/>olio.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>T<span class="_ _0"/>owage &amp; Maritime Services includes <span class="_ _2"/>towage activi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ties made up of two separ<span class="_ _2"/>ate cash-gener<span class="_ _0"/>ating units as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">well as sever<span class="_ _2"/>al individual businesses,<span class="_ _2"/> including Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Container<span class="_ _2"/> Industry<span class="_ _2"/>,<span class="_ _2"/> which are each<span class="_ _2"/> considered one </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash-gener<span class="_ _2"/>ating unit.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Significant accounting estima<span class="_ _2"/>tes</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _2"/>– assessment inputs</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The recov<span class="_ _2"/>erable amount<span class="_ _2"/> of each cash-gener<span class="_ _2"/>ating unit<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is determined based on <span class="_ _2"/>the higher of its <span class="_ _2"/>value in use and<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _2"/> v<span class="_ _2"/>alue less costs to sel<span class="_ _2"/>l. <span class="_ _2"/>The estimated <span class="_ _2"/>value in use<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is calculated using certain k<span class="_ _2"/>ey as<span class="_ _2"/>sumptions for<span class="_ _2"/> the ex<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pected future cash<span class="_ _2"/> flows and applied discount f<span class="_ _2"/>actor<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Curren<span class="_ _2"/>t mark<span class="_ _2"/>et v<span class="_ _2"/>alues for<span class="_ _2"/> v<span class="_ _2"/>essels,<span class="_ _2"/> etc., ar<span class="_ _2"/>e estimated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">using acknowledged brok<span class="_ _2"/>ers.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The cash flow pr<span class="_ _2"/>ojections are based on financial<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">budgets and business plans.<span class="_ _2"/> In natur<span class="_ _2"/>e, <span class="_ _2"/>these projections<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are subject<span class="_ _2"/> to judgemen<span class="_ _2"/>t and estimates <span class="_ _2"/>that ar<span class="_ _2"/>e uncer<span class="_ _2"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tain, <span class="_ _2"/>though based on experience and ext<span class="_ _2"/>ernal sources </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">where av<span class="_ _2"/>ailable.<span class="_ _2"/> Centralised pr<span class="_ _2"/>ocesses and invol<span class="_ _2"/>vement<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of corpor<span class="_ _2"/>ate functions ensure <span class="_ _2"/>that indices and da<span class="_ _2"/>ta </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sources ar<span class="_ _2"/>e selected consistentl<span class="_ _2"/>y while observing diff<span class="_ _2"/>er<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ences in risks and other<span class="_ _2"/> circumstances<span class="_ _2"/>.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The discount r<span class="_ _2"/>ates applied r<span class="_ _2"/>eflect <span class="_ _2"/>the time <span class="_ _2"/>value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">money as <span class="_ _2"/>well as the specific risks r<span class="_ _2"/>elated <span class="_ _2"/>to the under<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lying cash flows<span class="_ _2"/>, i.e<span class="_ _2"/>., pr<span class="_ _2"/>oject and/<span class="_ _0"/>or country<span class="_ _2"/>-specific risk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">premium.<span class="_ _2"/> Further<span class="_ _0"/>, any<span class="_ _2"/> uncertainties r<span class="_ _2"/>eflecting past per<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">formance and possible <span class="_ _2"/>variations in <span class="_ _2"/>the amount or<span class="_ _2"/> <span class="_ _2"/>timing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the pr<span class="_ _2"/>ojected cash flows ar<span class="_ _2"/>e gener<span class="_ _2"/>ally<span class="_ _2"/> reflected in <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discount r<span class="_ _2"/>ates<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _2"/>– key<span class="_ _2"/> assumptions applied </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The outcome of impairment<span class="_ _2"/> tests is subject<span class="_ _2"/> to estima<span class="_ _2"/>tes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the futur<span class="_ _2"/>e development<span class="_ _2"/> of freight<span class="_ _2"/> rat<span class="_ _2"/>es and volumes,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">oil prices and the discount<span class="_ _2"/> r<span class="_ _2"/>ates applied.<span class="_ _2"/> Management </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">determines these k<span class="_ _2"/>ey<span class="_ _2"/> assumptions by considering past<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">experience as wel<span class="_ _2"/>l as market<span class="_ _2"/> analysis and futur<span class="_ _2"/>e expec<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tations based on supply<span class="_ _2"/> and demand tr<span class="_ _2"/>ends.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Further<span class="_ _0"/>, <span class="_ _2"/>the value in use calcula<span class="_ _2"/>tion is highly sensitiv<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the <span class="_ _2"/>terminal gr<span class="_ _2"/>owth ra<span class="_ _2"/>te,<span class="_ _2"/> which is determined based on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the future expect<span class="_ _2"/>ed economic growth r<span class="_ _2"/>ate<span class="_ _2"/>, and r<span class="_ _2"/>eplace-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment CAPEX during <span class="_ _2"/>the terminal period,<span class="_ _2"/> which is det<span class="_ _2"/>er-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mined based on Management’<span class="_ _2"/>s plans and expectations </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _2"/> the future.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The future development<span class="_ _2"/> in fr<span class="_ _2"/>eight r<span class="_ _2"/>ates is a significant<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">factor<span class="_ _2"/> impacting <span class="_ _2"/>the Ocean segment<span class="_ _2"/> in particular<span class="_ _2"/> and is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">influenced by r<span class="_ _2"/>egional and global economic envir<span class="_ _2"/>onments,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trade pa<span class="_ _2"/>tterns,<span class="_ _2"/> and by industry<span class="_ _2"/>-specific tr<span class="_ _2"/>ends in r<span class="_ _2"/>espect </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of capacity suppl<span class="_ _2"/>y and demand.<span class="_ _2"/> Freight<span class="_ _2"/> rat<span class="_ _2"/>es have dete-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">riora<span class="_ _2"/>ted thr<span class="_ _2"/>oughout 2023 as a r<span class="_ _2"/>esult of <span class="_ _2"/>the pronounced </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market<span class="_ _2"/> normalisation and are e<span class="_ _2"/>xpected t<span class="_ _2"/>o face continued </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pressur<span class="_ _2"/>e for<span class="_ _2"/> the next<span class="_ _2"/> 1-2 y<span class="_ _2"/>ears. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The future dev<span class="_ _2"/>elopment of oil prices is also uncertain </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and is a significant f<span class="_ _2"/>actor<span class="_ _2"/> impacting accounting estimates </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">across <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk,<span class="_ _2"/> either<span class="_ _2"/> directly<span class="_ _2"/> or<span class="_ _2"/> indirectly<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ocean is directl<span class="_ _2"/>y impacted b<span class="_ _2"/>y the bunk<span class="_ _2"/>er<span class="_ _2"/> oil price,<span class="_ _2"/> wher<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the competitive landscape determines <span class="_ _2"/>the extent<span class="_ _2"/> to which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the development<span class="_ _2"/> is reflected in<span class="_ _2"/> the freight<span class="_ _2"/> r<span class="_ _2"/>ates charg<span class="_ _2"/>ed to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the customer<span class="_ _0"/>. Bunk<span class="_ _2"/>er<span class="_ _2"/> consumption is expected <span class="_ _2"/>to continue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to decline compared <span class="_ _2"/>to 2023<span class="_ _2"/>, driv<span class="_ _2"/>en by fleet<span class="_ _2"/> outsourcing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and efficiency impr<span class="_ _2"/>ovements.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Logistics &amp; Services is impacted by<span class="_ _2"/> ra<span class="_ _2"/>tes and volumes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">across <span class="_ _2"/>the Logistics &amp; Services product<span class="_ _2"/> lines,<span class="_ _2"/> particularly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the air<span class="_ _0"/> and haulage business. <span class="_ _2"/>The future gr<span class="_ _2"/>owth and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">productivity<span class="_ _2"/> of the Ful<span class="_ _2"/>filled by Maersk pr<span class="_ _2"/>oduct r<span class="_ _2"/>ange is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">also considered a k<span class="_ _2"/>ey<span class="_ _2"/> assumption as volumes ar<span class="_ _2"/>e sensitive </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the de<span class="_ _2"/>velopment of <span class="_ _2"/>the global economy<span class="_ _0"/>. Management </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considers both the futur<span class="_ _2"/>e economic outlook in k<span class="_ _2"/>ey r<span class="_ _2"/>egions,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">namely North<span class="_ _2"/> America and Eur<span class="_ _2"/>ope,<span class="_ _2"/> as well as e<span class="_ _2"/>xpected </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">synergies fr<span class="_ _2"/>om completed acquisitions <span class="_ _2"/>when determining </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the growth and pr<span class="_ _2"/>oductivity of F<span class="_ _2"/>ulfilled by<span class="_ _2"/> Maersk. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>T<span class="_ _0"/>erminals located in oil-producing coun<span class="_ _2"/>tries, e<span class="_ _2"/>.g., </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Nigeria and Br<span class="_ _2"/>azil, ar<span class="_ _2"/>e indirectl<span class="_ _2"/>y impacted by<span class="_ _2"/> the de<span class="_ _2"/>velop-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment in oil pric<span class="_ _2"/>es and the consequences for<span class="_ _0"/> the respective </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">countries’<span class="_ _0"/> economies, <span class="_ _2"/>which not only<span class="_ _2"/> affects <span class="_ _2"/>volumes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">handled in the <span class="_ _2"/>terminals,<span class="_ _2"/> but also f<span class="_ _2"/>oreign ex<span class="_ _2"/>change rat<span class="_ _2"/>es.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Continued economic deterior<span class="_ _2"/>ation and a lack of cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">repatriation<span class="_ _2"/> opportunities in certain oil-producing c<span class="_ _2"/>oun-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tries could also put pr<span class="_ _2"/>essure on <span class="_ _2"/>the carrying amounts of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">individual terminals<span class="_ _2"/>. <span class="_ _2"/>The other<span class="_ _2"/> ke<span class="_ _2"/>y sensitivities impacting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>erminals include container mo<span class="_ _2"/>ves,<span class="_ _2"/> rev<span class="_ _2"/>enue and cost per<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">move,<span class="_ _2"/> and local port r<span class="_ _2"/>ates<span class="_ _2"/>, al<span class="_ _2"/>l of which are impact<span class="_ _2"/>ed by </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the local economic outlook and competition,<span class="_ _2"/> as well as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">concession right<span class="_ _2"/> extensions and the discoun<span class="_ _2"/>t r<span class="_ _2"/>ate applied.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Inflation is also expected <span class="_ _2"/>to continue <span class="_ _2"/>to have a high </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impact acr<span class="_ _2"/>oss A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler - Maersk in<span class="_ _2"/> 2024,<span class="_ _2"/> impacting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">both the discoun<span class="_ _2"/>t r<span class="_ _2"/>ate and t<span class="_ _2"/>erminal growth r<span class="_ _2"/>ates<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _2"/>– results of<span class="_ _2"/> impairment assessments</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Ocean cash flow pr<span class="_ _2"/>ojection is based on the f<span class="_ _2"/>orecast<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as per<span class="_ _2"/> Q3 2023,<span class="_ _2"/> covering <span class="_ _2"/>the five-<span class="_ _2"/>year<span class="_ _2"/> business plan for<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2024-28<span class="_ _2"/>. Manag<span class="_ _2"/>ement applied an assumption<span class="_ _2"/> of growth </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in volumes based on<span class="_ _2"/> a calculated <span class="_ _2"/>terminal v<span class="_ _2"/>alue with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">growth equal <span class="_ _2"/>to 2.<span class="_ _2"/>7% (2.5%) p.a.<span class="_ _2"/> In the annual impairmen<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">test carried out<span class="_ _2"/> in November<span class="_ _0"/> 2023, a pr<span class="_ _2"/>e-<span class="_ _2"/>tax discount </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _2"/>te of 9.8% (9<span class="_ _2"/>.2%) p.a.<span class="_ _2"/> w<span class="_ _2"/>as applied. <span class="_ _2"/>The impairment <span class="_ _2"/>test </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">showed headroom<span class="_ _2"/> between the <span class="_ _2"/>value in use and <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">carrying amount.<span class="_ _2"/> The major<span class="_ _2"/> part o<span class="_ _2"/>f the carrying amount<span class="_ _2"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprised of vessels<span class="_ _2"/>. Manag<span class="_ _2"/>ement is of <span class="_ _2"/>the opinion that<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the assumptions applied are sustainable.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The Group’<span class="_ _0"/>s most significant goodwill c<span class="_ _2"/>omponent </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">relat<span class="_ _2"/>es to <span class="_ _2"/>the Logistics &amp; Services segment.<span class="_ _2"/> <span class="_ _2"/>The annual </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment <span class="_ _2"/>test is based on<span class="_ _2"/> the estimated <span class="_ _2"/>value in use<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">from <span class="_ _2"/>the five-<span class="_ _2"/>year<span class="_ _2"/> business plan for<span class="_ _2"/> 202<span class="_ _2"/>4-28,<span class="_ _2"/> wher<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the volume and impr<span class="_ _2"/>oved mar<span class="_ _2"/>gin growth assumptions<span class="_ _2"/>,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which are r<span class="_ _2"/>egion-specific,<span class="_ _2"/> reflect<span class="_ _2"/> the curr<span class="_ _2"/>ent expec<span class="_ _0"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tations for<span class="_ _2"/> the r<span class="_ _2"/>elevan<span class="_ _2"/>t period.<span class="_ _2"/> The applied <span class="_ _2"/>terminal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">growth is 2.<span class="_ _0"/>7% (2.0%). <span class="_ _2"/>A discount<span class="_ _2"/> ra<span class="_ _2"/>te of 9<span class="_ _2"/>.0% (8.4%) p<span class="_ _2"/>.a. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">befor<span class="_ _2"/>e tax or<span class="_ _2"/> 8<span class="_ _2"/>.8% (8.2%) p.a.<span class="_ _2"/> after<span class="_ _2"/> <span class="_ _2"/>tax was applied.<span class="_ _2"/> The<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impa<span class="_ _1"/>irment test<span class="_ _2"/> showed headr<span class="_ _2"/>oom from <span class="_ _2"/>the v<span class="_ _2"/>alue in use </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the carrying amoun<span class="_ _2"/>t. Management<span class="_ _2"/> is of the opinion<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tha<span class="_ _2"/>t <span class="_ _2"/>the <span class="_ _2"/>assumptions applied are sustainable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>In <span class="_ _2"/>T<span class="_ _0"/>erminals, Managemen<span class="_ _2"/>t assesses indicators o<span class="_ _2"/>f </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment including decr<span class="_ _2"/>easing volumes and based on<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">these indicators,<span class="_ _2"/> estimates <span class="_ _2"/>the recov<span class="_ _2"/>erable amounts<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the individual <span class="_ _2"/>terminals wher<span class="_ _2"/>eby impairment<span class="_ _2"/> indi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cators exist.<span class="_ _2"/> Management<span class="_ _2"/> also tests f<span class="_ _2"/>or impairmen<span class="_ _2"/>t of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the CGUs to <span class="_ _2"/>which goodwill or<span class="_ _2"/> indefinite lif<span class="_ _2"/>e intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets are al<span class="_ _2"/>located.<span class="_ _2"/> The cash flow pr<span class="_ _2"/>ojections for<span class="_ _2"/> each </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">terminal cover<span class="_ _0"/> the concession period and extension<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">options deemed likel<span class="_ _2"/>y t<span class="_ _2"/>o be exercised.<span class="_ _2"/> <span class="_ _2"/>The growth<span class="_ _2"/> rat<span class="_ _2"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assumed reflect<span class="_ _2"/> current<span class="_ _2"/> market<span class="_ _2"/> expectations for<span class="_ _0"/> the rel<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">evant<span class="_ _2"/> period, and <span class="_ _2"/>the discount<span class="_ _2"/> rat<span class="_ _2"/>es applied are between<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">7<span class="_ _0"/>.4% and 12.<span class="_ _0"/>1% (7<span class="_ _0"/>.2% and 13.0%) p.a.<span class="_ _2"/> after<span class="_ _0"/> tax. <span class="_ _2"/>The im<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pairment <span class="_ _2"/>tests considered f<span class="_ _2"/>air<span class="_ _2"/> value les<span class="_ _2"/>s cost of disposal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">compared <span class="_ _2"/>to the carrying amount<span class="_ _2"/> and resul<span class="_ _2"/>ted in im<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pairment losses of USD<span class="_ _2"/> 134m across mul<span class="_ _2"/>tiple terminals<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in 2023<span class="_ _2"/>, of which<span class="_ _2"/> USD 94m rela<span class="_ _2"/>tes to a<span class="_ _2"/> CGU in the Medi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">terr<span class="_ _2"/>anean, caused by<span class="_ _2"/> lower<span class="_ _2"/>-than-e<span class="_ _2"/>xpected volumes<span class="_ _2"/>, and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is primarily r<span class="_ _2"/>elated <span class="_ _2"/>to equipment.<span class="_ _2"/> Impairment losses of<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">an immaterial amount<span class="_ _2"/> across <span class="_ _2"/>two t<span class="_ _2"/>erminals was r<span class="_ _2"/>ecog<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nise<span class="_ _1"/>d in<span class="_ _1"/> 202<span class="_ _1"/>2 as<span class="_ _1"/> well <span class="_ _1"/>as USD 350m on <span class="_ _2"/>T<span class="_ _0"/>erminals’<span class="_ _0"/> minority </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">stake in Global P<span class="_ _2"/>orts Investments (GPI),<span class="_ _2"/> which w<span class="_ _2"/>as sold in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2022. For<span class="_ _0"/> more information on f<span class="_ _2"/>air <span class="_ _2"/>value det<span class="_ _2"/>ermination, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ref<span class="_ _2"/>er <span class="_ _2"/>to Note 4<span class="_ _2"/>.6 Financial instruments by ca<span class="_ _2"/>tegory<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _2"/>– key<span class="_ _2"/> assumptions sensitivity</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Using the discount<span class="_ _2"/> ra<span class="_ _2"/>te as of 31 December<span class="_ _2"/> 2023 and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">keeping al<span class="_ _2"/>l other assumptions c<span class="_ _2"/>onstant, <span class="_ _2"/>the Ocean CGU </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">showed headroom<span class="_ _2"/> of USD 3<span class="_ _2"/>.9bn betw<span class="_ _2"/>een the <span class="_ _2"/>value in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">use and the carrying amount.<span class="_ _2"/> <span class="_ _2"/>The following changes<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in assumptions reflect<span class="_ _2"/> the r<span class="_ _2"/>elated impact<span class="_ _2"/> on the <span class="_ _2"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in use and thus <span class="_ _2"/>the headroom f<span class="_ _2"/>or<span class="_ _2"/> the Ocean C<span class="_ _2"/>GU<span class="_ _2"/>.<span class="_ _2"/> <span class="_ _2"/>The </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sensitivities are pr<span class="_ _2"/>epared with<span class="_ _2"/> all other<span class="_ _2"/> assumptions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">kept constant.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:54.75px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 557.203px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">K<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ey Ocean CGU assumption<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 158.039px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Assumption<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Change<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 14.6074px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Effect<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> on <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>value in use</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 23.8418px; width: 557.156px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Growth in<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> terminal period<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.306px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2.7%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7949px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>+/<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>- 0.5 ppts<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.3886px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD 2.9bn</span><span style="position: absolute; display: inline-block; left: 0px; top: 44.2637px; width: 556.869px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Discount r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate p.a. bef<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ore <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tax as of 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9.2%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>+/- 0.5 ppts<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD 3.4bn</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Intangible assets<span class="ff3"> are measur<span class="_ _2"/>ed at cost<span class="_ _2"/> less accumulated </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortisation and impairment<span class="_ _2"/> losses.<span class="_ _2"/> Amortisation is cal-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">culated on a str<span class="_ _2"/>aight<span class="_ _2"/>-line basis over<span class="_ _2"/> <span class="_ _2"/>the estimated useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">life of the as<span class="_ _2"/>sets. For<span class="_ _0"/> container <span class="_ _2"/>terminals oper<span class="_ _2"/>ated under<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">certain restrictiv<span class="_ _2"/>e price and service conditions,<span class="_ _2"/> etc.,<span class="_ _2"/> con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cessional rights t<span class="_ _2"/>o collect usage char<span class="_ _2"/>ges ar<span class="_ _2"/>e included un-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">der<span class="_ _2"/> intangible assets.<span class="_ _2"/> The cost<span class="_ _2"/> includes the pr<span class="_ _2"/>esent <span class="_ _2"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of minimum payments under<span class="_ _2"/> concession agr<span class="_ _2"/>eements and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the cost of pr<span class="_ _2"/>operty<span class="_ _2"/>,<span class="_ _2"/> plant and equipment<span class="_ _2"/> constructed on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">behalf of the gr<span class="_ _2"/>antor<span class="_ _0"/> of a concession. <span class="_ _2"/>The rights are am-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ortised from <span class="_ _2"/>the commencement o<span class="_ _2"/>f operations o<span class="_ _2"/>ver<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">concession period.<span class="_ _2"/> The conces<span class="_ _2"/>sion period rang<span class="_ _2"/>es from <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">10 to 34 years<span class="_ _2"/>, with<span class="_ _2"/> an aver<span class="_ _2"/>age of 17<span class="_ _2"/> years<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span><span><span style="display:inherit;clear:left;">Goodwill and t<span class="_ _2"/>erminal rights have indefinite useful </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives while all other<span class="_ _0"/> classes have definite lives.<span class="_ _2"/> Intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets re<span class="_ _2"/>garding acquir<span class="_ _2"/>ed customer<span class="_ _2"/> relationships and<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">technology ar<span class="_ _2"/>e amortised over<span class="_ _2"/> a useful lif<span class="_ _2"/>e of 10-24 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">years and 5-<span class="_ _2"/>10 <span class="_ _2"/>years,<span class="_ _2"/> respectivel<span class="_ _2"/>y<span class="_ _2"/>. In<span class="_ _2"/>ternally<span class="_ _2"/> developed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">IT<span class="_ _2"/> software is amortised o<span class="_ _2"/>ver<span class="_ _2"/> a useful life of 5 <span class="_ _2"/>years.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses<span class="ff3"> are r<span class="_ _2"/>ecognised when<span class="_ _2"/> the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an as<span class="_ _2"/>set or<span class="_ _2"/> a cash-gener<span class="_ _2"/>ating unit e<span class="_ _2"/>xceeds the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">higher<span class="_ _2"/> of the estimated <span class="_ _2"/>value in use and f<span class="_ _2"/>air <span class="_ _2"/>value less<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">costs of disposal. Goodwil<span class="_ _2"/>l is attributed <span class="_ _2"/>to cash- <span class="_ _4"/>generating </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">units on acquisition and impair<span class="_ _2"/>ed before other<span class="_ _0"/> assets. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Intangible assets and property<span class="_ _0"/>, plant and equipment<span class="_ _2"/> are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tested for<span class="_ _0"/> impairment if ther<span class="_ _2"/>e is an indication of impair<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment.<span class="_ _2"/> However<span class="_ _0"/>, annual impairment<span class="_ _2"/> tests ar<span class="_ _2"/>e carried out f<span class="_ _2"/>or </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">goodwill and other<span class="_ _2"/> intangible assets with inde<span class="_ _2"/>finite useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives as wel<span class="_ _2"/>l as intangible assets that<span class="_ _2"/> are not<span class="_ _2"/> yet<span class="_ _2"/> in use.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses ar<span class="_ _2"/>e included in deprecia<span class="_ _2"/>tion, amortisa-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion and impairment,<span class="_ _2"/> net, in <span class="_ _2"/>the income statement.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 3.2 <span class="_"> </span>Pr<span class="_ _2"/>oper<span class="_ _2"/>ty<span class="_ _0"/>, plant and equipment</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:455.46875px;"><span style="position: absolute; display: inline-block; left: 289.812px; top: 0.0136718px; width: 39.9141px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>essels, <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 352.062px; top: 0.0136718px; width: 54.5625px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Production </span><span style="position: absolute; display: inline-block; left: 419.922px; top: 0.0136718px; width: 63.1934px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Construction </span><span style="position: absolute; display: inline-block; left: 534.188px; top: 0.0136718px; width: 23.5195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 289.812px; top: 12.0137px; width: 40.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">aircr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>aft, </span><span style="position: absolute; display: inline-block; left: 344.141px; top: 12.0137px; width: 62.2324px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">facilities and <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 445.797px; top: 12.0137px; width: 36.6445px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">work in <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 274.25px; top: 24.0137px; width: 52.9336px; white-space: pre; word-spacing: -2.562px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">con tainers, </span><span style="position: absolute; display: inline-block; left: 349.156px; top: 24.0137px; width: 56.7949px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">equipment, </span><span style="position: absolute; display: inline-block; left: 419.922px; top: 24.0137px; width: 63.3281px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">progr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ess and </span><span style="position: absolute; display: inline-block; left: 309.094px; top: 36.0137px; width: 18.0527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">etc.</span><span style="position: absolute; display: inline-block; left: 385.984px; top: 36.0137px; width: 18.0527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">etc.</span><span style="position: absolute; display: inline-block; left: 419.922px; top: 36.0137px; width: 63.6973px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">payments on </span><span style="position: absolute; display: inline-block; left: 443.266px; top: 48.0137px; width: 37.6875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">account</span><span style="position: absolute; display: inline-block; left: 0px; top: 72.9961px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Cost</span><span style="position: absolute; display: inline-block; left: 0px; top: 87.5762px; width: 556.693px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 217.758px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">48,699<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8,209<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,296<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>59,204</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 102.467px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 263.367px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>698<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>124<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,834<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,656</span><span style="position: absolute; display: inline-block; left: 0px; top: 116.607px; width: 556.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions from acquir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed companies<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 156.24px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15</span><span style="position: absolute; display: inline-block; left: 0px; top: 132.264px; width: 556.682px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 254.051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,785<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>162<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,953</span><span style="position: absolute; display: inline-block; left: 0px; top: 146.404px; width: 557.016px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals from companies sold<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 152.414px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,197<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>62<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>164<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,423</span><span style="position: absolute; display: inline-block; left: 0px; top: 162.045px; width: 556.664px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 264.117px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>401<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>855<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1,256<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-</span><span style="position: absolute; display: inline-block; left: 0px; top: 176.936px; width: 556.758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.914px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1,939<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-67<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-83<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2,089</span><span style="position: absolute; display: inline-block; left: 0px; top: 191.826px; width: 557.027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Reclassification fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om/to right<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-of-use assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.393px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>35<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>36</span><span style="position: absolute; display: inline-block; left: 0px; top: 206.717px; width: 556.664px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 186.522px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>49<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>32<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>94</span><span style="position: absolute; display: inline-block; left: 0px; top: 221.607px; width: 557.021px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>42,961<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>8,948<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,631<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>55,540</span><span style="position: absolute; display: inline-block; left: 0px; top: 251.699px; width: 160.453px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Depreciation and impairment losses</span><span style="position: absolute; display: inline-block; left: 0px; top: 266.279px; width: 556.664px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 217.758px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">26,966<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,039<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>31,010</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 281.17px; width: 556.787px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Depreciation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 238.213px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,100<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>506<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,606</span><span style="position: absolute; display: inline-block; left: 0px; top: 296.061px; width: 556.746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 234.381px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>134<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>140</span><span style="position: absolute; display: inline-block; left: 0px; top: 310.201px; width: 556.963px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Reversal of impairment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 172.723px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>73<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>85</span><span style="position: absolute; display: inline-block; left: 0px; top: 325.842px; width: 556.682px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 254.051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,542<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>163<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,709</span><span style="position: absolute; display: inline-block; left: 0px; top: 339.982px; width: 556.664px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals from companies sold<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 152.414px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,650<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>62<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,713</span><span style="position: absolute; display: inline-block; left: 0px; top: 355.639px; width: 557.086px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.928px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-781<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-37<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-818</span><span style="position: absolute; display: inline-block; left: 0px; top: 370.529px; width: 556.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Reclassification fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om/to right<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-of-use assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 114.732px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11</span><span style="position: absolute; display: inline-block; left: 0px; top: 385.404px; width: 556.764px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 186.522px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>18<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>39</span><span style="position: absolute; display: inline-block; left: 0px; top: 400.295px; width: 556.729px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>24,117<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,364<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>28,481</span><span style="position: absolute; display: inline-block; left: 0px; top: 430.402px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carrying amount:</span><span style="position: absolute; display: inline-block; left: 0px; top: 444.982px; width: 557.021px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>18,844<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,584<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,631<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>27,059</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">V<span class="_ _2"/>essels,<span class="_ _2"/> buildings etc.<span class="_ _2"/> with a carrying amount<span class="_ _2"/> of USD 0<span class="_ _2"/>.8bn (USD 0.8bn) ha<span class="_ _2"/>ve been pledged as security<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _2"/> loans of USD 0<span class="_ _2"/>.4bn (USD 0<span class="_ _2"/>.5bn).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:410.765625px;"><span style="position: absolute; display: inline-block; left: 289.812px; top: 0.0136718px; width: 39.9141px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>essels, <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 351.719px; top: 0.0136718px; width: 54.5625px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Production </span><span style="position: absolute; display: inline-block; left: 419.922px; top: 0.0136718px; width: 63.1934px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Construction </span><span style="position: absolute; display: inline-block; left: 534px; top: 0.0292968px; width: 23.5195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 289.812px; top: 12.0137px; width: 40.2246px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">aircr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>aft, <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 343.922px; top: 12.0137px; width: 62.2324px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">facilities and <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 445.703px; top: 12.0137px; width: 36.6445px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">work in <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 274.609px; top: 24.0137px; width: 52.9336px; white-space: pre; word-spacing: -2.562px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">con tainers, </span><span style="position: absolute; display: inline-block; left: 349.484px; top: 24.0137px; width: 56.7949px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">equipment, </span><span style="position: absolute; display: inline-block; left: 419.922px; top: 24.0137px; width: 63.3281px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">progr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ess and </span><span style="position: absolute; display: inline-block; left: 308.875px; top: 36.0137px; width: 18.0527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">etc.</span><span style="position: absolute; display: inline-block; left: 385.266px; top: 36.0137px; width: 18.0527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">etc.</span><span style="position: absolute; display: inline-block; left: 419.922px; top: 36.0137px; width: 63.6973px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">payments on </span><span style="position: absolute; display: inline-block; left: 443.875px; top: 48.0137px; width: 37.6875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">account</span><span style="position: absolute; display: inline-block; left: 0px; top: 73.0117px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Cost</span><span style="position: absolute; display: inline-block; left: 0px; top: 87.5762px; width: 556.693px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2022<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 217.758px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">47,804<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,946<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,177<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>56,927</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 102.467px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 253.623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,507<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>169<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,965<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,641</span><span style="position: absolute; display: inline-block; left: 0px; top: 116.623px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions from acquir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed companies<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 154.319px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>200<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>210</span><span style="position: absolute; display: inline-block; left: 0px; top: 132.264px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 253.623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,075<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>124<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,199</span><span style="position: absolute; display: inline-block; left: 0px; top: 147.154px; width: 559.488px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 264.117px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>531<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>322<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-853<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 162.045px; width: 557.027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.303px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-51<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-54<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-89</span><span style="position: absolute; display: inline-block; left: 0px; top: 176.936px; width: 556.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Reclassification fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om/to right<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-of-use assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.393px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>84<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>73</span><span style="position: absolute; display: inline-block; left: 0px; top: 191.811px; width: 557.209px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 175.746px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-102<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-242<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-359</span><span style="position: absolute; display: inline-block; left: 0px; top: 206.701px; width: 557.021px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>48,699<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>8,209<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,296<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>59,204</span><span style="position: absolute; display: inline-block; left: 0px; top: 236.809px; width: 160.453px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Depreciation and impairment losses</span><span style="position: absolute; display: inline-block; left: 0px; top: 251.389px; width: 556.816px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2022<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 217.758px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">25,890<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,734<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.4607px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>29,624</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 266.279px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Depreciation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 238.213px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,064<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>453<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,517</span><span style="position: absolute; display: inline-block; left: 0px; top: 281.154px; width: 556.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>112<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>139</span><span style="position: absolute; display: inline-block; left: 0px; top: 296.045px; width: 556.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 263.367px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>950<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>102<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,053</span><span style="position: absolute; display: inline-block; left: 0px; top: 310.936px; width: 556.893px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.303px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-33<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-63<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-97</span><span style="position: absolute; display: inline-block; left: 0px; top: 325.826px; width: 556.74px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Reclassification fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om/to right<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-of-use assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.393px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>35<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-7<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.0645px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>28</span><span style="position: absolute; display: inline-block; left: 0px; top: 340.717px; width: 557.385px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 182.338px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-57<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-88<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-148</span><span style="position: absolute; display: inline-block; left: 0px; top: 355.607px; width: 556.992px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>26,966<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,039<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>31,010</span><span style="position: absolute; display: inline-block; left: 0px; top: 385.699px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carrying amount:</span><span style="position: absolute; display: inline-block; left: 0px; top: 400.279px; width: 557.021px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>21,733<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,170<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,291<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>28,194</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Net impairment<span class="_ _2"/> losses reco<span class="_ _2"/>gnised on property<span class="_ _0"/>, plant and equipmen<span class="_ _2"/>t ar<span class="_ _2"/>e specified as follows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:166.296875px;"><span style="position: absolute; display: inline-block; left: 293.391px; top: 0.0136718px; width: 267.117px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Reversal of impairmen<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>t losses</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.717px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Operating se<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>gment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>Cash-gener<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ating unit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 559.811px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 119.918px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 14 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 12 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 65.5293px; width: 559.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Logistics &amp; Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.9511px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Logistics &amp; Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 77.7716px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 6 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 46 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 81.7012px; width: 148.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 103.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 148.951px; top: 81.7012px; width: 410.32px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">V<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>arious terminals<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 74.496px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> 134 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 58 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 73 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 97.873px; width: 559.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owage &amp; Maritime Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.2304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0.924px; letter-spacing: -0.924px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">To<span style="word-spacing: 0.924px; letter-spacing: -0.924px; display: inline-block; margin-left: 0px; width: 0.755858px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>w<span style="word-spacing: 0.924px; letter-spacing: -0.924px; display: inline-block; margin-left: 0px; width: 0.755858px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>a<span style="word-spacing: 0.924px; letter-spacing: -0.924px; display: inline-block; margin-left: 0px; width: 1.46484px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>g<span style="word-spacing: 0.924px; letter-spacing: -0.924px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e<span style="word-spacing: 0.924px; letter-spacing: -0.924px; display: inline-block; margin-left: 0px; width: 137.42px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.7989px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 1 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 148.828px; top: 112.764px; width: 87.3457px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Maersk Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 320.406px; top: 112.764px; width: 239.232px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 17 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 148.828px; top: 124.764px; width: 39.1992px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Industry</span><span style="position: absolute; display: inline-block; left: 148.828px; top: 139.654px; width: 410.496px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Others<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.033px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.7989px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 3 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 155.811px; width: 559.295px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 280.852px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 140 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 139 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 85 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> - </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment anal<span class="_ _2"/>ysis</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _2"/> more informa<span class="_ _2"/>tion on impairment <span class="_ _2"/>tests,<span class="_ _2"/> re<span class="_ _2"/>ference is made <span class="_ _2"/>to note 3<span class="_ _2"/>.<span class="_ _0"/>1 Intangible assets.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"> </span>SIGNIFICANT AC<span class="_ _2"/>COUNTING ESTIMATES </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Useful life and residual <span class="_ _2"/>values</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Useful lives are estima<span class="_ _2"/>ted based on experience.<span class="_ _2"/> When<span class="_ _2"/> an </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">asset’<span class="_ _2"/>s useful life changes,<span class="_ _2"/> Management<span class="_ _2"/> revises <span class="_ _2"/>the esti<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mates for<span class="_ _0"/> individual assets or groups of assets <span class="_ _2"/>with similar<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">charact<span class="_ _2"/>eristics due to f<span class="_ _2"/>actors such as quality of main<span class="_ _2"/>te<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nance and repair<span class="_ _0"/>, <span class="_ _2"/>technical developmen<span class="_ _2"/>t, or<span class="_ _2"/> envir<span class="_ _2"/>onmen-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tal requir<span class="_ _2"/>ements.<span class="_ _2"/> Management has als<span class="_ _1"/>o co<span class="_ _1"/>nsid<span class="_ _1"/>ered the<span class="_ _1"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impact of decarbonisation and c<span class="_ _2"/>limate<span class="_ _2"/>- <span class="_ _4"/>relat<span class="_ _2"/>ed risks<span class="_ _2"/> on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the useful lives of existing assets.<span class="_ _2"/> Such<span class="_ _2"/> risks <span class="_ _2"/>include ne<span class="_ _2"/>w </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">climate-r<span class="_ _2"/>elated legislation r<span class="_ _2"/>estricting the use of certain </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets,<span class="_ _2"/> new technolo<span class="_ _2"/>gy demanded by clima<span class="_ _2"/>te-relat<span class="_ _2"/>ed leg<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">islation and the incr<span class="_ _2"/>ease in r<span class="_ _2"/>estora<span class="_ _2"/>tion costs for<span class="_ _2"/> t<span class="_ _2"/>erminal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sites due t<span class="_ _2"/>o new and/<span class="_ _2"/>or<span class="_ _2"/> more compr<span class="_ _2"/>ehensive policies.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The useful lives of v<span class="_ _2"/>essels and related as<span class="_ _2"/>sets that<span class="_ _2"/> operat<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on bunker<span class="_ _0"/> fuel have been considered in conjunction<span class="_ _2"/> with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the net zer<span class="_ _2"/>o by 2040 <span class="_ _2"/>targ<span class="_ _2"/>et. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Residual v<span class="_ _2"/>alues of vessels ar<span class="_ _2"/>e difficult<span class="_ _2"/> to estimat<span class="_ _2"/>e given </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">their<span class="_ _2"/> long useful lives,<span class="_ _2"/> the uncertainty<span class="_ _2"/> of future economic </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">conditions,<span class="_ _2"/> the mark<span class="_ _2"/>et for<span class="_ _0"/> conventional fuel vessels </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the uncertainty<span class="_ _2"/> of future st<span class="_ _2"/>eel prices, <span class="_ _2"/>which is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considered <span class="_ _2"/>the main determinant<span class="_ _2"/> of the r<span class="_ _2"/>esidual value<span class="_ _2"/>.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Additionally<span class="_ _0"/>, the ac<span class="_ _2"/>celeration<span class="_ _2"/> of development o<span class="_ _2"/>f vessels </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with a lower<span class="_ _2"/> carbon f<span class="_ _2"/>ootprint may<span class="_ _2"/> gener<span class="_ _2"/>ate downw<span class="_ _2"/>ard </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pressur<span class="_ _2"/>e on the mark<span class="_ _2"/>et f<span class="_ _2"/>or sec<span class="_ _2"/>ond-hand conventional </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fuel vessels.<span class="_ _2"/> Generall<span class="_ _2"/>y<span class="_ _2"/>,<span class="_ _2"/> the residual values of vessels are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">initially<span class="_ _2"/> estimated at<span class="_ _2"/> 10% of the pur<span class="_ _2"/>chase price excluding </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">dry-docking c<span class="_ _2"/>osts.</span></span><span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Property<span class="_ _0"/>, plant and equipmen<span class="_ _2"/>t are <span class="_ _2"/>valued at<span class="_ _2"/> cost less ac<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cumulated depr<span class="_ _2"/>eciation and impairment losses<span class="_ _2"/>. Depr<span class="_ _2"/>ecia-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion is charged <span class="_ _2"/>to <span class="_ _2"/>the income statement<span class="_ _2"/> on a str<span class="_ _2"/>aight-line </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">basis over<span class="_ _2"/> the useful lif<span class="_ _2"/>e at an estima<span class="_ _2"/>ted residual <span class="_ _2"/>value.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The useful lives of new assets ar<span class="_ _2"/>e typicall<span class="_ _2"/>y as fol<span class="_ _2"/>lows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:213.392578125px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 204.674px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">V<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>essels,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> etc.<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">20-25 years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 20.4336px; width: 186.322px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Containers,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> etc.<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 74.0509px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">15 years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 40.8555px; width: 203.443px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Buildings<span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">10-50 years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 61.2773px; width: 271.107px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>erminal infrastructure<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">10-30 years or<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> concession </span></span><span style="position: absolute; display: inline-block; left: 148px; top: 71.7773px; width: 77.7656px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">period, if short<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>er</span><span style="position: absolute; display: inline-block; left: 0px; top: 93.623px; width: 120.398px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">W<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>arehouses and related <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 148px; top: 92.1992px; width: 119.713px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">5-25 years,<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> or lease term,<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 105.639px; width: 70.4824px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">infrastructur<span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>e </span><span style="position: absolute; display: inline-block; left: 148px; top: 104.215px; width: 43.377px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">if shorter</span><span style="position: absolute; display: inline-block; left: 0px; top: 126.061px; width: 99.2754px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Aircr<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>aft and relat<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>ed <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 148px; top: 130.637px; width: 49.8574px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">3-30 years</span><span style="position: absolute; display: inline-block; left: 0px; top: 138.061px; width: 61.4824px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">components </span><span style="position: absolute; display: inline-block; left: 0px; top: 158.482px; width: 136.102px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Plant and machinery<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>, cr<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>anes </span><span style="position: absolute; display: inline-block; left: 148px; top: 163.059px; width: 49.4062px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">5-25 years</span><span style="position: absolute; display: inline-block; left: 0px; top: 170.482px; width: 143.959px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">and other<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> terminal equipment</span><span style="position: absolute; display: inline-block; left: 0px; top: 190.904px; width: 135.422px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> operating equipment,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 148px; top: 195.48px; width: 41.8066px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">3-<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>7<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> years</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.904px; width: 61.3359px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">fixtures,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> etc.</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Estimated useful lives and r<span class="_ _2"/>esidual v<span class="_ _2"/>alues are r<span class="_ _2"/>eassessed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on a r<span class="_ _2"/>egular<span class="_ _2"/> basis.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The cost of an asset<span class="_ _2"/> is divided into separ<span class="_ _2"/>ate compo-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nents,<span class="_ _2"/> which ar<span class="_ _2"/>e depreciated separ<span class="_ _2"/>atel<span class="_ _2"/>y if <span class="_ _2"/>the useful life </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the individual component<span class="_ _2"/> differs.<span class="_ _2"/> Dry<span class="_ _2"/>-docking costs </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _2"/>ecognised in <span class="_ _2"/>the carrying amount of <span class="_ _2"/>vessels when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">incurred and depr<span class="_ _2"/>eciated over<span class="_ _0"/> the period until the next<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dry-docking.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The cost of assets construct<span class="_ _2"/>ed by <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">includes directl<span class="_ _2"/>y attributable expenses.<span class="_ _2"/> For<span class="_ _2"/> assets with<span class="_ _2"/> a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">long construction period,<span class="_ _2"/> borrowing costs during <span class="_ _2"/>the con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">struction period from<span class="_ _2"/> specific as well as gener<span class="_ _2"/>al borro<span class="_ _2"/>w-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ings are attribut<span class="_ _2"/>ed to cost.<span class="_ _2"/> In addition,<span class="_ _2"/> the cost<span class="_ _2"/> includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the net pr<span class="_ _2"/>esent <span class="_ _2"/>value of estimated costs o<span class="_ _2"/>f remov<span class="_ _2"/>al and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">restor<span class="_ _2"/>ation.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 2.3 <span class="_"> </span>Depreciation, amor<span class="_ _2"/>tisation and impairment losses, net</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:79.84375px;"><span style="position: absolute; display: inline-block; left: 454.141px; top: 0.0136718px; width: 102.393px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 557.232px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal depreciation <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 364.166px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,856<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,595</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal amortisation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 374.543px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>382<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>365</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal impairment, net <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 356.033px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>377<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>226</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.646px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Depreciation, amortisation and impairment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> losses, net<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 188.69px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6,615<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6,186</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Depreciation is r<span class="_ _2"/>elated <span class="_ _2"/>to property<span class="_ _0"/>, plant<span class="_ _2"/> and equipment of USD<span class="_ _2"/> 2.6bn (USD 2.5bn) and <span class="_ _2"/>to right<span class="_ _2"/>-of-use assets of USD </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3.3bn<span class="_ _2"/> (USD 3.<span class="_ _0"/>1bn).<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>otal net impairments are primaril<span class="_ _2"/>y due <span class="_ _2"/>to property<span class="_ _0"/>, plant<span class="_ _2"/> and equipment of USD 55m<span class="_ _2"/> (USD 139m) and intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets of USD 322m (USD 68m),<span class="_ _2"/> of which<span class="_ _2"/> USD 299m is from<span class="_ _2"/> the impairment<span class="_ _2"/> of brands<span class="_ _2"/>. Ref<span class="_ _2"/>er<span class="_ _2"/> to note 3<span class="_ _2"/>.<span class="_ _0"/>1 Intangible assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and note 3<span class="_ _2"/>.2 Property<span class="_ _0"/>, plant and equipment.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 2.4 <span class="_ _64"> </span>G<span class="_ _1"/>ains on sale of non-current asset<span class="_ _2"/>s, etc., net</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:64.953125px;"><span style="position: absolute; display: inline-block; left: 454.141px; top: 0.0136718px; width: 102.393px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gains <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 433.02px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>565<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>204</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 436.207px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>42<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>103</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Gains on sale of non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> assets, etc., net<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 245.83px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>523<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>101</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Gains in 2023 are primaril<span class="_ _2"/>y r<span class="_ _2"/>elated t<span class="_ _2"/>o the sale of US Marine Management<span class="_ _2"/> Inc. o<span class="_ _2"/>f USD 92m, <span class="_ _2"/>the sale of shares in<span class="_ _2"/> Höegh </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Autoliners <span class="_ _2"/>AS of USD 57<span class="_ _2"/>m,<span class="_ _2"/> the sale of Maersk Suppl<span class="_ _2"/>y Service of USD 15m,<span class="_ _2"/> <span class="_ _2"/>the sale of containers of USD 127<span class="_ _2"/>m (USD 127<span class="_ _2"/>m) </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the sale of <span class="_ _2"/>vessels of USD 181m (USD<span class="_ _2"/> 56m). </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Losses in 2023 are primaril<span class="_ _2"/>y r<span class="_ _2"/>elated t<span class="_ _2"/>o the sale of containers of USD<span class="_ _2"/> 22m (USD 25m).<span class="_ _2"/> In 2022, los<span class="_ _2"/>ses also consisted </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the wind-do<span class="_ _2"/>wn of opera<span class="_ _2"/>tions in Russia of USD 53m.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 3.2 <span class="_"> </span>Pr<span class="_ _2"/>oper<span class="_ _2"/>ty<span class="_ _0"/>, plant and equipment</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:455.46875px;"><span style="position: absolute; display: inline-block; left: 289.812px; top: 0.0136718px; width: 39.9141px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>essels, <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 352.062px; top: 0.0136718px; width: 54.5625px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Production </span><span style="position: absolute; display: inline-block; left: 419.922px; top: 0.0136718px; width: 63.1934px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Construction </span><span style="position: absolute; display: inline-block; left: 534.188px; top: 0.0136718px; width: 23.5195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 289.812px; top: 12.0137px; width: 40.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">aircr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>aft, </span><span style="position: absolute; display: inline-block; left: 344.141px; top: 12.0137px; width: 62.2324px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">facilities and <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 445.797px; top: 12.0137px; width: 36.6445px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">work in <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 274.25px; top: 24.0137px; width: 52.9336px; white-space: pre; word-spacing: -2.562px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">con tainers, </span><span style="position: absolute; display: inline-block; left: 349.156px; top: 24.0137px; width: 56.7949px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">equipment, </span><span style="position: absolute; display: inline-block; left: 419.922px; top: 24.0137px; width: 63.3281px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">progr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ess and </span><span style="position: absolute; display: inline-block; left: 309.094px; top: 36.0137px; width: 18.0527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">etc.</span><span style="position: absolute; display: inline-block; left: 385.984px; top: 36.0137px; width: 18.0527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">etc.</span><span style="position: absolute; display: inline-block; left: 419.922px; top: 36.0137px; width: 63.6973px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">payments on </span><span style="position: absolute; display: inline-block; left: 443.266px; top: 48.0137px; width: 37.6875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">account</span><span style="position: absolute; display: inline-block; left: 0px; top: 72.9961px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Cost</span><span style="position: absolute; display: inline-block; left: 0px; top: 87.5762px; width: 556.693px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 217.758px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">48,699<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8,209<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,296<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>59,204</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 102.467px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 263.367px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>698<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>124<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,834<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,656</span><span style="position: absolute; display: inline-block; left: 0px; top: 116.607px; width: 556.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions from acquir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed companies<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 156.24px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15</span><span style="position: absolute; display: inline-block; left: 0px; top: 132.264px; width: 556.682px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 254.051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,785<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>162<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,953</span><span style="position: absolute; display: inline-block; left: 0px; top: 146.404px; width: 557.016px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals from companies sold<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 152.414px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,197<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>62<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>164<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,423</span><span style="position: absolute; display: inline-block; left: 0px; top: 162.045px; width: 556.664px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 264.117px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>401<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>855<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1,256<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-</span><span style="position: absolute; display: inline-block; left: 0px; top: 176.936px; width: 556.758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.914px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1,939<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-67<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-83<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2,089</span><span style="position: absolute; display: inline-block; left: 0px; top: 191.826px; width: 557.027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Reclassification fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om/to right<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-of-use assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.393px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>35<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>36</span><span style="position: absolute; display: inline-block; left: 0px; top: 206.717px; width: 556.664px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 186.522px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>49<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>32<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>94</span><span style="position: absolute; display: inline-block; left: 0px; top: 221.607px; width: 557.021px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>42,961<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>8,948<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,631<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>55,540</span><span style="position: absolute; display: inline-block; left: 0px; top: 251.699px; width: 160.453px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Depreciation and impairment losses</span><span style="position: absolute; display: inline-block; left: 0px; top: 266.279px; width: 556.664px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 217.758px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">26,966<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,039<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>31,010</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 281.17px; width: 556.787px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Depreciation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 238.213px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,100<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>506<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,606</span><span style="position: absolute; display: inline-block; left: 0px; top: 296.061px; width: 556.746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 234.381px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>134<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>140</span><span style="position: absolute; display: inline-block; left: 0px; top: 310.201px; width: 556.963px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Reversal of impairment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 172.723px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>73<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>85</span><span style="position: absolute; display: inline-block; left: 0px; top: 325.842px; width: 556.682px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 254.051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,542<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>163<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,709</span><span style="position: absolute; display: inline-block; left: 0px; top: 339.982px; width: 556.664px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals from companies sold<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 152.414px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,650<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>62<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,713</span><span style="position: absolute; display: inline-block; left: 0px; top: 355.639px; width: 557.086px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.928px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-781<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-37<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-818</span><span style="position: absolute; display: inline-block; left: 0px; top: 370.529px; width: 556.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Reclassification fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om/to right<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-of-use assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 114.732px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11</span><span style="position: absolute; display: inline-block; left: 0px; top: 385.404px; width: 556.764px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 186.522px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>18<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>39</span><span style="position: absolute; display: inline-block; left: 0px; top: 400.295px; width: 556.729px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>24,117<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,364<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>28,481</span><span style="position: absolute; display: inline-block; left: 0px; top: 430.402px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carrying amount:</span><span style="position: absolute; display: inline-block; left: 0px; top: 444.982px; width: 557.021px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>18,844<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,584<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,631<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>27,059</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">V<span class="_ _2"/>essels,<span class="_ _2"/> buildings etc.<span class="_ _2"/> with a carrying amount<span class="_ _2"/> of USD 0<span class="_ _2"/>.8bn (USD 0.8bn) ha<span class="_ _2"/>ve been pledged as security<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _2"/> loans of USD 0<span class="_ _2"/>.4bn (USD 0<span class="_ _2"/>.5bn).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:410.765625px;"><span style="position: absolute; display: inline-block; left: 289.812px; top: 0.0136718px; width: 39.9141px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>essels, <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 351.719px; top: 0.0136718px; width: 54.5625px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Production </span><span style="position: absolute; display: inline-block; left: 419.922px; top: 0.0136718px; width: 63.1934px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Construction </span><span style="position: absolute; display: inline-block; left: 534px; top: 0.0292968px; width: 23.5195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 289.812px; top: 12.0137px; width: 40.2246px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">aircr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>aft, <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 343.922px; top: 12.0137px; width: 62.2324px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">facilities and <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 445.703px; top: 12.0137px; width: 36.6445px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">work in <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 274.609px; top: 24.0137px; width: 52.9336px; white-space: pre; word-spacing: -2.562px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">con tainers, </span><span style="position: absolute; display: inline-block; left: 349.484px; top: 24.0137px; width: 56.7949px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">equipment, </span><span style="position: absolute; display: inline-block; left: 419.922px; top: 24.0137px; width: 63.3281px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">progr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ess and </span><span style="position: absolute; display: inline-block; left: 308.875px; top: 36.0137px; width: 18.0527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">etc.</span><span style="position: absolute; display: inline-block; left: 385.266px; top: 36.0137px; width: 18.0527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">etc.</span><span style="position: absolute; display: inline-block; left: 419.922px; top: 36.0137px; width: 63.6973px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">payments on </span><span style="position: absolute; display: inline-block; left: 443.875px; top: 48.0137px; width: 37.6875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">account</span><span style="position: absolute; display: inline-block; left: 0px; top: 73.0117px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Cost</span><span style="position: absolute; display: inline-block; left: 0px; top: 87.5762px; width: 556.693px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2022<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 217.758px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">47,804<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,946<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,177<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>56,927</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 102.467px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 253.623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,507<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>169<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,965<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,641</span><span style="position: absolute; display: inline-block; left: 0px; top: 116.623px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions from acquir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed companies<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 154.319px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>200<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>210</span><span style="position: absolute; display: inline-block; left: 0px; top: 132.264px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 253.623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,075<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>124<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,199</span><span style="position: absolute; display: inline-block; left: 0px; top: 147.154px; width: 559.488px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 264.117px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>531<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>322<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-853<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 162.045px; width: 557.027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.303px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-51<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-54<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-89</span><span style="position: absolute; display: inline-block; left: 0px; top: 176.936px; width: 556.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Reclassification fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om/to right<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-of-use assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.393px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>84<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>73</span><span style="position: absolute; display: inline-block; left: 0px; top: 191.811px; width: 557.209px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 175.746px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-102<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-242<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-359</span><span style="position: absolute; display: inline-block; left: 0px; top: 206.701px; width: 557.021px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>48,699<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>8,209<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,296<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>59,204</span><span style="position: absolute; display: inline-block; left: 0px; top: 236.809px; width: 160.453px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Depreciation and impairment losses</span><span style="position: absolute; display: inline-block; left: 0px; top: 251.389px; width: 556.816px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2022<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 217.758px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">25,890<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,734<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.4607px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>29,624</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 266.279px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Depreciation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 238.213px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,064<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>453<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,517</span><span style="position: absolute; display: inline-block; left: 0px; top: 281.154px; width: 556.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>112<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>139</span><span style="position: absolute; display: inline-block; left: 0px; top: 296.045px; width: 556.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 263.367px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>950<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>102<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,053</span><span style="position: absolute; display: inline-block; left: 0px; top: 310.936px; width: 556.893px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.303px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-33<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-63<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-97</span><span style="position: absolute; display: inline-block; left: 0px; top: 325.826px; width: 556.74px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Reclassification fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om/to right<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-of-use assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.393px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>35<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-7<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.0645px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>28</span><span style="position: absolute; display: inline-block; left: 0px; top: 340.717px; width: 557.385px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 182.338px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-57<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-88<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-148</span><span style="position: absolute; display: inline-block; left: 0px; top: 355.607px; width: 556.992px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>26,966<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,039<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>31,010</span><span style="position: absolute; display: inline-block; left: 0px; top: 385.699px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carrying amount:</span><span style="position: absolute; display: inline-block; left: 0px; top: 400.279px; width: 557.021px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>21,733<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,170<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,291<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>28,194</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Net impairment<span class="_ _2"/> losses reco<span class="_ _2"/>gnised on property<span class="_ _0"/>, plant and equipmen<span class="_ _2"/>t ar<span class="_ _2"/>e specified as follows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:166.296875px;"><span style="position: absolute; display: inline-block; left: 293.391px; top: 0.0136718px; width: 267.117px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Reversal of impairmen<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>t losses</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.717px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Operating se<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>gment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>Cash-gener<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ating unit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 559.811px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 119.918px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 14 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 12 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 65.5293px; width: 559.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Logistics &amp; Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.9511px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Logistics &amp; Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 77.7716px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 6 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 46 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 81.7012px; width: 148.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 103.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 148.951px; top: 81.7012px; width: 410.32px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">V<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>arious terminals<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 74.496px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> 134 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 58 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 73 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 97.873px; width: 559.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owage &amp; Maritime Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.2304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0.924px; letter-spacing: -0.924px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">To<span style="word-spacing: 0.924px; letter-spacing: -0.924px; display: inline-block; margin-left: 0px; width: 0.755858px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>w<span style="word-spacing: 0.924px; letter-spacing: -0.924px; display: inline-block; margin-left: 0px; width: 0.755858px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>a<span style="word-spacing: 0.924px; letter-spacing: -0.924px; display: inline-block; margin-left: 0px; width: 1.46484px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>g<span style="word-spacing: 0.924px; letter-spacing: -0.924px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e<span style="word-spacing: 0.924px; letter-spacing: -0.924px; display: inline-block; margin-left: 0px; width: 137.42px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.7989px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 1 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 148.828px; top: 112.764px; width: 87.3457px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Maersk Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 320.406px; top: 112.764px; width: 239.232px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 17 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 148.828px; top: 124.764px; width: 39.1992px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Industry</span><span style="position: absolute; display: inline-block; left: 148.828px; top: 139.654px; width: 410.496px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Others<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.033px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.7989px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 3 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 155.811px; width: 559.295px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 280.852px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 140 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 139 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 85 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> - </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment anal<span class="_ _2"/>ysis</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _2"/> more informa<span class="_ _2"/>tion on impairment <span class="_ _2"/>tests,<span class="_ _2"/> re<span class="_ _2"/>ference is made <span class="_ _2"/>to note 3<span class="_ _2"/>.<span class="_ _0"/>1 Intangible assets.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"> </span>SIGNIFICANT AC<span class="_ _2"/>COUNTING ESTIMATES </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Useful life and residual <span class="_ _2"/>values</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Useful lives are estima<span class="_ _2"/>ted based on experience.<span class="_ _2"/> When<span class="_ _2"/> an </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">asset’<span class="_ _2"/>s useful life changes,<span class="_ _2"/> Management<span class="_ _2"/> revises <span class="_ _2"/>the esti<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mates for<span class="_ _0"/> individual assets or groups of assets <span class="_ _2"/>with similar<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">charact<span class="_ _2"/>eristics due to f<span class="_ _2"/>actors such as quality of main<span class="_ _2"/>te<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nance and repair<span class="_ _0"/>, <span class="_ _2"/>technical developmen<span class="_ _2"/>t, or<span class="_ _2"/> envir<span class="_ _2"/>onmen-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tal requir<span class="_ _2"/>ements.<span class="_ _2"/> Management has als<span class="_ _1"/>o co<span class="_ _1"/>nsid<span class="_ _1"/>ered the<span class="_ _1"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impact of decarbonisation and c<span class="_ _2"/>limate<span class="_ _2"/>- <span class="_ _4"/>relat<span class="_ _2"/>ed risks<span class="_ _2"/> on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the useful lives of existing assets.<span class="_ _2"/> Such<span class="_ _2"/> risks <span class="_ _2"/>include ne<span class="_ _2"/>w </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">climate-r<span class="_ _2"/>elated legislation r<span class="_ _2"/>estricting the use of certain </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets,<span class="_ _2"/> new technolo<span class="_ _2"/>gy demanded by clima<span class="_ _2"/>te-relat<span class="_ _2"/>ed leg<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">islation and the incr<span class="_ _2"/>ease in r<span class="_ _2"/>estora<span class="_ _2"/>tion costs for<span class="_ _2"/> t<span class="_ _2"/>erminal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sites due t<span class="_ _2"/>o new and/<span class="_ _2"/>or<span class="_ _2"/> more compr<span class="_ _2"/>ehensive policies.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The useful lives of v<span class="_ _2"/>essels and related as<span class="_ _2"/>sets that<span class="_ _2"/> operat<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on bunker<span class="_ _0"/> fuel have been considered in conjunction<span class="_ _2"/> with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the net zer<span class="_ _2"/>o by 2040 <span class="_ _2"/>targ<span class="_ _2"/>et. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Residual v<span class="_ _2"/>alues of vessels ar<span class="_ _2"/>e difficult<span class="_ _2"/> to estimat<span class="_ _2"/>e given </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">their<span class="_ _2"/> long useful lives,<span class="_ _2"/> the uncertainty<span class="_ _2"/> of future economic </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">conditions,<span class="_ _2"/> the mark<span class="_ _2"/>et for<span class="_ _0"/> conventional fuel vessels </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the uncertainty<span class="_ _2"/> of future st<span class="_ _2"/>eel prices, <span class="_ _2"/>which is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considered <span class="_ _2"/>the main determinant<span class="_ _2"/> of the r<span class="_ _2"/>esidual value<span class="_ _2"/>.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Additionally<span class="_ _0"/>, the ac<span class="_ _2"/>celeration<span class="_ _2"/> of development o<span class="_ _2"/>f vessels </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with a lower<span class="_ _2"/> carbon f<span class="_ _2"/>ootprint may<span class="_ _2"/> gener<span class="_ _2"/>ate downw<span class="_ _2"/>ard </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pressur<span class="_ _2"/>e on the mark<span class="_ _2"/>et f<span class="_ _2"/>or sec<span class="_ _2"/>ond-hand conventional </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fuel vessels.<span class="_ _2"/> Generall<span class="_ _2"/>y<span class="_ _2"/>,<span class="_ _2"/> the residual values of vessels are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">initially<span class="_ _2"/> estimated at<span class="_ _2"/> 10% of the pur<span class="_ _2"/>chase price excluding </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">dry-docking c<span class="_ _2"/>osts.</span></span><span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Property<span class="_ _0"/>, plant and equipmen<span class="_ _2"/>t are <span class="_ _2"/>valued at<span class="_ _2"/> cost less ac<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cumulated depr<span class="_ _2"/>eciation and impairment losses<span class="_ _2"/>. Depr<span class="_ _2"/>ecia-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion is charged <span class="_ _2"/>to <span class="_ _2"/>the income statement<span class="_ _2"/> on a str<span class="_ _2"/>aight-line </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">basis over<span class="_ _2"/> the useful lif<span class="_ _2"/>e at an estima<span class="_ _2"/>ted residual <span class="_ _2"/>value.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The useful lives of new assets ar<span class="_ _2"/>e typicall<span class="_ _2"/>y as fol<span class="_ _2"/>lows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:213.392578125px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 204.674px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">V<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>essels,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> etc.<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">20-25 years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 20.4336px; width: 186.322px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Containers,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> etc.<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 74.0509px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">15 years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 40.8555px; width: 203.443px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Buildings<span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">10-50 years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 61.2773px; width: 271.107px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>erminal infrastructure<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">10-30 years or<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> concession </span></span><span style="position: absolute; display: inline-block; left: 148px; top: 71.7773px; width: 77.7656px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">period, if short<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>er</span><span style="position: absolute; display: inline-block; left: 0px; top: 93.623px; width: 120.398px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">W<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>arehouses and related <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 148px; top: 92.1992px; width: 119.713px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">5-25 years,<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> or lease term,<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 105.639px; width: 70.4824px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">infrastructur<span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>e </span><span style="position: absolute; display: inline-block; left: 148px; top: 104.215px; width: 43.377px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">if shorter</span><span style="position: absolute; display: inline-block; left: 0px; top: 126.061px; width: 99.2754px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Aircr<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>aft and relat<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>ed <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 148px; top: 130.637px; width: 49.8574px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">3-30 years</span><span style="position: absolute; display: inline-block; left: 0px; top: 138.061px; width: 61.4824px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">components </span><span style="position: absolute; display: inline-block; left: 0px; top: 158.482px; width: 136.102px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Plant and machinery<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>, cr<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>anes </span><span style="position: absolute; display: inline-block; left: 148px; top: 163.059px; width: 49.4062px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">5-25 years</span><span style="position: absolute; display: inline-block; left: 0px; top: 170.482px; width: 143.959px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">and other<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> terminal equipment</span><span style="position: absolute; display: inline-block; left: 0px; top: 190.904px; width: 135.422px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> operating equipment,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 148px; top: 195.48px; width: 41.8066px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">3-<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>7<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> years</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.904px; width: 61.3359px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">fixtures,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> etc.</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Estimated useful lives and r<span class="_ _2"/>esidual v<span class="_ _2"/>alues are r<span class="_ _2"/>eassessed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on a r<span class="_ _2"/>egular<span class="_ _2"/> basis.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The cost of an asset<span class="_ _2"/> is divided into separ<span class="_ _2"/>ate compo-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nents,<span class="_ _2"/> which ar<span class="_ _2"/>e depreciated separ<span class="_ _2"/>atel<span class="_ _2"/>y if <span class="_ _2"/>the useful life </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the individual component<span class="_ _2"/> differs.<span class="_ _2"/> Dry<span class="_ _2"/>-docking costs </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _2"/>ecognised in <span class="_ _2"/>the carrying amount of <span class="_ _2"/>vessels when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">incurred and depr<span class="_ _2"/>eciated over<span class="_ _0"/> the period until the next<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dry-docking.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The cost of assets construct<span class="_ _2"/>ed by <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">includes directl<span class="_ _2"/>y attributable expenses.<span class="_ _2"/> For<span class="_ _2"/> assets with<span class="_ _2"/> a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">long construction period,<span class="_ _2"/> borrowing costs during <span class="_ _2"/>the con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">struction period from<span class="_ _2"/> specific as well as gener<span class="_ _2"/>al borro<span class="_ _2"/>w-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ings are attribut<span class="_ _2"/>ed to cost.<span class="_ _2"/> In addition,<span class="_ _2"/> the cost<span class="_ _2"/> includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the net pr<span class="_ _2"/>esent <span class="_ _2"/>value of estimated costs o<span class="_ _2"/>f remov<span class="_ _2"/>al and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">restor<span class="_ _2"/>ation.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 3.<span class="_ _2"/>1 <span class="_ _1c7"> </span>Intangible assets</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:354.140625px;"><span style="position: absolute; display: inline-block; left: 210.562px; top: 0.0136718px; width: 119.912px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Goodwill<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 358.734px; top: 0.0136718px; width: 47.5488px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Customer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 431.109px; top: 0.0136718px; width: 50.8828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> incl. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 534px; top: 0.0136718px; width: 23.5195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 274.609px; top: 12.0137px; width: 55.1133px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">and service <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 342.25px; top: 12.0137px; width: 63.5684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">relationships </span><span style="position: absolute; display: inline-block; left: 427.766px; top: 12.0137px; width: 52.9863px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">IT<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> software</span><span style="position: absolute; display: inline-block; left: 275.953px; top: 24.0137px; width: 54.1699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">concession </span><span style="position: absolute; display: inline-block; left: 351.719px; top: 24.0137px; width: 52.5527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">and brands</span><span style="position: absolute; display: inline-block; left: 300.406px; top: 36.0137px; width: 27.4629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">rights</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.9961px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Cost</span><span style="position: absolute; display: inline-block; left: 0px; top: 75.5762px; width: 556.764px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.445px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">5,554<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,985<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,043<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,371<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,953</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 90.4668px; width: 557.033px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 201.931px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>183<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>204</span><span style="position: absolute; display: inline-block; left: 166.406px; top: 105.242px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 105.357px; width: 166.529px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions from acquir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed companies</span><span style="position: absolute; display: inline-block; left: 247px; top: 105.373px; width: 310.271px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14</span><span style="position: absolute; display: inline-block; left: 0px; top: 120.248px; width: 556.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>402<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>234<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>642</span><span style="position: absolute; display: inline-block; left: 0px; top: 135.139px; width: 557.174px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 87.1642px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-332<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-356</span><span style="position: absolute; display: inline-block; left: 0px; top: 150.029px; width: 556.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.268px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>70</span><span style="position: absolute; display: inline-block; left: 0px; top: 164.92px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,230<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,031<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,659<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,323<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>12,243</span><span style="position: absolute; display: inline-block; left: 0px; top: 195.027px; width: 162.439px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Amortisation and impairment losses</span><span style="position: absolute; display: inline-block; left: 0px; top: 209.607px; width: 556.752px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.412px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">349<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>824<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>491<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>504<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,168</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 224.482px; width: 557.004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Amortisation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 184.804px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>103<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>158<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>121<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>382</span><span style="position: absolute; display: inline-block; left: 0px; top: 239.373px; width: 556.734px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 159.639px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>299<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>23<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>322</span><span style="position: absolute; display: inline-block; left: 0px; top: 254.264px; width: 556.711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 201.931px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>402<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>79<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>481</span><span style="position: absolute; display: inline-block; left: 0px; top: 269.154px; width: 556.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 87.1642px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-279<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-297</span><span style="position: absolute; display: inline-block; left: 0px; top: 284.045px; width: 557.033px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 112.166px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25</span><span style="position: absolute; display: inline-block; left: 0px; top: 298.936px; width: 556.875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.185px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>69<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>937<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>542<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>571<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,119</span><span style="position: absolute; display: inline-block; left: 0px; top: 329.027px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carrying amount:</span><span style="position: absolute; display: inline-block; left: 327.891px; top: 343.539px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 374.859px; top: 343.654px; width: 105.434px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">2,117<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>752</span><span style="position: absolute; display: inline-block; left: 0px; top: 343.607px; width: 327.305px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,161<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,094</span><span style="position: absolute; display: inline-block; left: 521.297px; top: 343.654px; width: 35.5371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">10,124</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Acquisition of Martin Bencher<span class="_ _2"/> and Grindrod.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Of which USD 49m is under<span class="_ _2"/> developmen<span class="_ _2"/>t. USD 34m is r<span class="_ _2"/>elated <span class="_ _2"/>to terminal rights <span class="_ _2"/>with indefinite useful lives </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in Poti Sea Port<span class="_ _2"/> Corp. Service conc<span class="_ _2"/>ession rights with a carrying amount<span class="_ _2"/> of USD 70m ha<span class="_ _2"/>ve restricted <span class="_ _2"/>title.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Of which USD 162m is related <span class="_ _2"/>to ongoing development<span class="_ _2"/> of softwar<span class="_ _2"/>e. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:383.9375px;"><span style="position: absolute; display: inline-block; left: 210.562px; top: 0.0136718px; width: 119.912px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Goodwill<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 359.719px; top: 0.0136718px; width: 47.5488px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Customer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 431.828px; top: 0.0136718px; width: 50.8828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> incl. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 534.188px; top: 0.0136718px; width: 23.5195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 274.25px; top: 12.0137px; width: 55.1133px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">and service <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 342.75px; top: 12.0137px; width: 63.5684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">relationships </span><span style="position: absolute; display: inline-block; left: 428.422px; top: 12.0137px; width: 52.9863px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">IT<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> software</span><span style="position: absolute; display: inline-block; left: 275.266px; top: 24.0137px; width: 54.1699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">concession </span><span style="position: absolute; display: inline-block; left: 351.047px; top: 24.0137px; width: 52.5527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">and brands</span><span style="position: absolute; display: inline-block; left: 299.969px; top: 36.0137px; width: 27.4629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">rights</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.9961px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Cost</span><span style="position: absolute; display: inline-block; left: 0px; top: 75.5762px; width: 556.764px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2022<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.445px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1,928<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,132<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,579<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,205<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,844</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 90.4668px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.306px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>324<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>349</span><span style="position: absolute; display: inline-block; left: 165.828px; top: 105.242px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 105.357px; width: 166.529px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions from acquir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed companies</span><span style="position: absolute; display: inline-block; left: 221.781px; top: 105.373px; width: 334.928px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">3,667<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,474<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>213<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,354</span><span style="position: absolute; display: inline-block; left: 0px; top: 120.248px; width: 556.729px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.306px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>352<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>352</span><span style="position: absolute; display: inline-block; left: 0px; top: 135.139px; width: 559.494px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 62.6542px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 150.029px; width: 557.238px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 103.816px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-104<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-103</span><span style="position: absolute; display: inline-block; left: 0px; top: 164.92px; width: 557.098px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 105.586px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-41<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-64<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-24<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-139</span><span style="position: absolute; display: inline-block; left: 0px; top: 179.811px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,554<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,985<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,043<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,371<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>12,953</span><span style="position: absolute; display: inline-block; left: 0px; top: 209.918px; width: 162.439px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Amortisation and impairment losses</span><span style="position: absolute; display: inline-block; left: 0px; top: 224.482px; width: 556.752px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2022<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.412px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">367<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>794<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>324<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>590<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,075</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 239.373px; width: 556.969px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Amortisation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 182.338px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>110<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>147<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>108<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>365</span><span style="position: absolute; display: inline-block; left: 0px; top: 254.264px; width: 556.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.412px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>32<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>68</span><span style="position: absolute; display: inline-block; left: 0px; top: 269.154px; width: 556.729px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.306px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>221<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>221</span><span style="position: absolute; display: inline-block; left: 0px; top: 284.045px; width: 559.494px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 62.6542px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 298.936px; width: 556.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 103.816px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-79<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-78</span><span style="position: absolute; display: inline-block; left: 0px; top: 313.826px; width: 557.051px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 105.586px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-18<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-41</span><span style="position: absolute; display: inline-block; left: 0px; top: 328.717px; width: 556.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.033px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>349<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>824<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>491<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>504<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,168</span><span style="position: absolute; display: inline-block; left: 0px; top: 358.809px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carrying amount:</span><span style="position: absolute; display: inline-block; left: 327.406px; top: 373.32px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 374.75px; top: 373.451px; width: 105.434px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">2,552<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>867</span><span style="position: absolute; display: inline-block; left: 0px; top: 373.389px; width: 327.305px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,205<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,161</span><span style="position: absolute; display: inline-block; left: 521.891px; top: 373.451px; width: 35.5371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">10,785</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Acquisition of LF<span class="_ _2"/> Logistics,<span class="_ _2"/> Pilot, Senat<span class="_ _2"/>or In<span class="_ _2"/>ternational and ResQ.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Of which USD 38m is under<span class="_ _2"/> developmen<span class="_ _2"/>t. USD 34m is r<span class="_ _2"/>elated <span class="_ _2"/>to terminal rights <span class="_ _2"/>with indefinite useful lives in Poti Sea P<span class="_ _2"/>ort Corp.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Service concession rights with a<span class="_ _2"/> carrying amount of USD 7<span class="_ _2"/>0m have restrict<span class="_ _2"/>ed title.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Of which USD 141m is related <span class="_ _2"/>to ongoing development<span class="_ _2"/> of softwar<span class="_ _2"/>e.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 3.<span class="_ _2"/>1 <span class="_ _1c7"> </span>Intangible assets</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:354.140625px;"><span style="position: absolute; display: inline-block; left: 210.562px; top: 0.0136718px; width: 119.912px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Goodwill<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 358.734px; top: 0.0136718px; width: 47.5488px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Customer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 431.109px; top: 0.0136718px; width: 50.8828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> incl. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 534px; top: 0.0136718px; width: 23.5195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 274.609px; top: 12.0137px; width: 55.1133px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">and service <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 342.25px; top: 12.0137px; width: 63.5684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">relationships </span><span style="position: absolute; display: inline-block; left: 427.766px; top: 12.0137px; width: 52.9863px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">IT<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> software</span><span style="position: absolute; display: inline-block; left: 275.953px; top: 24.0137px; width: 54.1699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">concession </span><span style="position: absolute; display: inline-block; left: 351.719px; top: 24.0137px; width: 52.5527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">and brands</span><span style="position: absolute; display: inline-block; left: 300.406px; top: 36.0137px; width: 27.4629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">rights</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.9961px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Cost</span><span style="position: absolute; display: inline-block; left: 0px; top: 75.5762px; width: 556.764px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.445px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">5,554<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,985<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,043<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,371<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,953</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 90.4668px; width: 557.033px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 201.931px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>183<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>204</span><span style="position: absolute; display: inline-block; left: 166.406px; top: 105.242px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 105.357px; width: 166.529px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions from acquir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed companies</span><span style="position: absolute; display: inline-block; left: 247px; top: 105.373px; width: 310.271px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14</span><span style="position: absolute; display: inline-block; left: 0px; top: 120.248px; width: 556.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>402<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>234<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>642</span><span style="position: absolute; display: inline-block; left: 0px; top: 135.139px; width: 557.174px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 87.1642px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-332<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-356</span><span style="position: absolute; display: inline-block; left: 0px; top: 150.029px; width: 556.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.268px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>70</span><span style="position: absolute; display: inline-block; left: 0px; top: 164.92px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,230<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,031<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,659<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,323<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>12,243</span><span style="position: absolute; display: inline-block; left: 0px; top: 195.027px; width: 162.439px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Amortisation and impairment losses</span><span style="position: absolute; display: inline-block; left: 0px; top: 209.607px; width: 556.752px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.412px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">349<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>824<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>491<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>504<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,168</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 224.482px; width: 557.004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Amortisation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 184.804px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>103<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>158<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>121<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>382</span><span style="position: absolute; display: inline-block; left: 0px; top: 239.373px; width: 556.734px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 159.639px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>299<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>23<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>322</span><span style="position: absolute; display: inline-block; left: 0px; top: 254.264px; width: 556.711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 201.931px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>402<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>79<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>481</span><span style="position: absolute; display: inline-block; left: 0px; top: 269.154px; width: 556.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 87.1642px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-279<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-297</span><span style="position: absolute; display: inline-block; left: 0px; top: 284.045px; width: 557.033px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 112.166px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25</span><span style="position: absolute; display: inline-block; left: 0px; top: 298.936px; width: 556.875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.185px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>69<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>937<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>542<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>571<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,119</span><span style="position: absolute; display: inline-block; left: 0px; top: 329.027px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carrying amount:</span><span style="position: absolute; display: inline-block; left: 327.891px; top: 343.539px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 374.859px; top: 343.654px; width: 105.434px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">2,117<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>752</span><span style="position: absolute; display: inline-block; left: 0px; top: 343.607px; width: 327.305px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,161<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,094</span><span style="position: absolute; display: inline-block; left: 521.297px; top: 343.654px; width: 35.5371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">10,124</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Acquisition of Martin Bencher<span class="_ _2"/> and Grindrod.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Of which USD 49m is under<span class="_ _2"/> developmen<span class="_ _2"/>t. USD 34m is r<span class="_ _2"/>elated <span class="_ _2"/>to terminal rights <span class="_ _2"/>with indefinite useful lives </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in Poti Sea Port<span class="_ _2"/> Corp. Service conc<span class="_ _2"/>ession rights with a carrying amount<span class="_ _2"/> of USD 70m ha<span class="_ _2"/>ve restricted <span class="_ _2"/>title.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Of which USD 162m is related <span class="_ _2"/>to ongoing development<span class="_ _2"/> of softwar<span class="_ _2"/>e. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:383.9375px;"><span style="position: absolute; display: inline-block; left: 210.562px; top: 0.0136718px; width: 119.912px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Goodwill<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 359.719px; top: 0.0136718px; width: 47.5488px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Customer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 431.828px; top: 0.0136718px; width: 50.8828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> incl. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 534.188px; top: 0.0136718px; width: 23.5195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 274.25px; top: 12.0137px; width: 55.1133px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">and service <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 342.75px; top: 12.0137px; width: 63.5684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">relationships </span><span style="position: absolute; display: inline-block; left: 428.422px; top: 12.0137px; width: 52.9863px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">IT<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> software</span><span style="position: absolute; display: inline-block; left: 275.266px; top: 24.0137px; width: 54.1699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">concession </span><span style="position: absolute; display: inline-block; left: 351.047px; top: 24.0137px; width: 52.5527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">and brands</span><span style="position: absolute; display: inline-block; left: 299.969px; top: 36.0137px; width: 27.4629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">rights</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.9961px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Cost</span><span style="position: absolute; display: inline-block; left: 0px; top: 75.5762px; width: 556.764px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2022<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.445px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1,928<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,132<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,579<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,205<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,844</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 90.4668px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.306px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>324<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>349</span><span style="position: absolute; display: inline-block; left: 165.828px; top: 105.242px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 105.357px; width: 166.529px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions from acquir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed companies</span><span style="position: absolute; display: inline-block; left: 221.781px; top: 105.373px; width: 334.928px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">3,667<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,474<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>213<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,354</span><span style="position: absolute; display: inline-block; left: 0px; top: 120.248px; width: 556.729px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.306px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>352<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>352</span><span style="position: absolute; display: inline-block; left: 0px; top: 135.139px; width: 559.494px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 62.6542px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 150.029px; width: 557.238px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 103.816px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-104<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-103</span><span style="position: absolute; display: inline-block; left: 0px; top: 164.92px; width: 557.098px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 105.586px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-41<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-64<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-24<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-139</span><span style="position: absolute; display: inline-block; left: 0px; top: 179.811px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,554<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,985<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,043<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,371<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>12,953</span><span style="position: absolute; display: inline-block; left: 0px; top: 209.918px; width: 162.439px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Amortisation and impairment losses</span><span style="position: absolute; display: inline-block; left: 0px; top: 224.482px; width: 556.752px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2022<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.412px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">367<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>794<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>324<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>590<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,075</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 239.373px; width: 556.969px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Amortisation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 182.338px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>110<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>147<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>108<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>365</span><span style="position: absolute; display: inline-block; left: 0px; top: 254.264px; width: 556.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.412px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>32<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>68</span><span style="position: absolute; display: inline-block; left: 0px; top: 269.154px; width: 556.729px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.306px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>221<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>221</span><span style="position: absolute; display: inline-block; left: 0px; top: 284.045px; width: 559.494px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 62.6542px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 298.936px; width: 556.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 103.816px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-79<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-78</span><span style="position: absolute; display: inline-block; left: 0px; top: 313.826px; width: 557.051px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 105.586px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-18<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-41</span><span style="position: absolute; display: inline-block; left: 0px; top: 328.717px; width: 556.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.033px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>349<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>824<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>491<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>504<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,168</span><span style="position: absolute; display: inline-block; left: 0px; top: 358.809px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carrying amount:</span><span style="position: absolute; display: inline-block; left: 327.406px; top: 373.32px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 374.75px; top: 373.451px; width: 105.434px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">2,552<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>867</span><span style="position: absolute; display: inline-block; left: 0px; top: 373.389px; width: 327.305px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,205<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,161</span><span style="position: absolute; display: inline-block; left: 521.891px; top: 373.451px; width: 35.5371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">10,785</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Acquisition of LF<span class="_ _2"/> Logistics,<span class="_ _2"/> Pilot, Senat<span class="_ _2"/>or In<span class="_ _2"/>ternational and ResQ.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Of which USD 38m is under<span class="_ _2"/> developmen<span class="_ _2"/>t. USD 34m is r<span class="_ _2"/>elated <span class="_ _2"/>to terminal rights <span class="_ _2"/>with indefinite useful lives in Poti Sea P<span class="_ _2"/>ort Corp.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Service concession rights with a<span class="_ _2"/> carrying amount of USD 7<span class="_ _2"/>0m have restrict<span class="_ _2"/>ed title.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Of which USD 141m is related <span class="_ _2"/>to ongoing development<span class="_ _2"/> of softwar<span class="_ _2"/>e.</span></span> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:129.1875px;"><span style="position: absolute; display: inline-block; left: 428.422px; top: 0.0136718px; width: 121.518px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Goodwill carrying amount</span><span style="position: absolute; display: inline-block; left: 0px; top: 23.8418px; width: 556.699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Operating se<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>gment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>Cash-gener<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ating unit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 204.533px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 48.5137px; width: 559.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 119.918px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Ocean <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 280.852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>316<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 316 </span><span style="position: absolute; display: inline-block; left: 0px; top: 62.5605px; width: 559.652px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Logistics &amp; Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.9511px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Logistics &amp; Services <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 207.832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,599<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 4,582 </span><span style="position: absolute; display: inline-block; left: 0px; top: 76.5918px; width: 148.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 103.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 148.951px; top: 76.5918px; width: 410.771px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Multiple t<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminals <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 223.558px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">241<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 248 </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 90.623px; width: 559.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owage &amp; Maritime Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.2304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ow<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>age – Port <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owage <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>Amster<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>dam and Others<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 109.43px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 58 </span><span style="position: absolute; display: inline-block; left: 0px; top: 104.67px; width: 559.57px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 449.501px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 1 </span><span style="position: absolute; display: inline-block; left: 0px; top: 118.701px; width: 559.266px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 426.675px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,161<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 5,205 </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:116px;"><span style="position: absolute; display: inline-block; left: 445.703px; top: 0.0136718px; width: 86.6836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Operating se<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>gment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 99.3457px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>Cash-genera<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ting unit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 162.451px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span></span><span style="position: absolute; display: inline-block; left: 480.969px; top: 49.2266px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 482.93px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 162.451px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 238.213px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 319 </span><span style="position: absolute; display: inline-block; left: 541.562px; top: 49.3574px; width: 18.0234px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> 28 </span><span style="position: absolute; display: inline-block; left: 480.969px; top: 63.2734px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 63.4043px; width: 482.801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Logistics &amp; Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 98.8946px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Logistics &amp; Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 187.319px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 2 </span><span style="position: absolute; display: inline-block; left: 541.562px; top: 63.4043px; width: 18.0234px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> 21 </span><span style="position: absolute; display: inline-block; left: 0px; top: 77.4355px; width: 191.338px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.77px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 191.338px; top: 77.4355px; width: 368.291px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">V<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>arious terminals<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 17 </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 91.4824px; width: 559.441px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owage &amp; Maritime Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Maersk Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> Industry<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.914px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 1 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.7989px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 2 </span><span style="position: absolute; display: inline-block; left: 0px; top: 105.514px; width: 559.014px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 434.07px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 322 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 68 </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span><span class="ws0">On 27<span class="_ _2"/> January 2023<span class="_ _2"/>, it<span class="_ _2"/> was announced <span class="_ _2"/>that <span class="_ _2"/>the Group would mov<span class="_ _2"/>e tow<span class="_ _2"/>ards a singular<span class="_ _2"/> and unified brand b<span class="_ _2"/>y integr<span class="_ _2"/>ating <span class="_ _2"/>the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _3"/>. Moller<span class="_ _2"/> - Maersk br<span class="_ _2"/>ands. Existing br<span class="_ _2"/>ands wer<span class="_ _2"/>e retir<span class="_ _2"/>ed during Q1 2023,<span class="_ _2"/> resulting in<span class="_ _2"/> the reco<span class="_ _2"/>gnition of impairment losses of <span class="_ _2"/>the full </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">carrying amount of each r<span class="_ _2"/>espective retir<span class="_ _2"/>ed brand on <span class="_ _2"/>the balance sheet. <span class="_ _2"/>T<span class="_ _0"/>otal impairment losses rela<span class="_ _2"/>ted to <span class="_ _2"/>the retiremen<span class="_ _2"/>t of br<span class="_ _2"/>ands in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2023 <span class="_ _1"/>recognis<span class="_ _1"/>ed i<span class="_ _1"/>n the income statement is USD 299m,<span class="_ _2"/> of which USD 297<span class="_ _2"/>m is within Ocean<span class="_ _2"/> and USD 2m is within Logistics &amp; Services<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"> </span> <span class="_ _a"/>SIGNIFICANT<span class="_ _2"/> ACCOUNTING ESTIMA<span class="_ _2"/>TES AND<span class="_ _2"/> JUDGEMENTS </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Significant accounting judg<span class="_ _2"/>ements</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Determination of<span class="_ _2"/> cash-generating units</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Judgement is applied in<span class="_ _2"/> the determination<span class="_ _2"/> of cash- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gener<span class="_ _2"/>ating units to <span class="_ _2"/>which goodwill is alloca<span class="_ _2"/>ted for<span class="_ _2"/> impair-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment <span class="_ _2"/>testing and in <span class="_ _2"/>the selection of methodologies and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assumptions applied in impairment <span class="_ _2"/>tests.<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The determination of cash-gener<span class="_ _2"/>ating units diff<span class="_ _2"/>ers </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on the business ar<span class="_ _2"/>ea. Oc<span class="_ _2"/>ean opera<span class="_ _2"/>tes its fleet of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">container<span class="_ _2"/> vessels and hub <span class="_ _2"/>terminals in an in<span class="_ _2"/>tegr<span class="_ _2"/>ated <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">net <span class="_ _4"/>work. Consequently<span class="_ _0"/>, the Oc<span class="_ _2"/>ean activities are <span class="_ _2"/>tested </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _2"/> impairment as a<span class="_ _2"/> single cash-genera<span class="_ _2"/>ting unit. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Logistics &amp; Services,<span class="_ _2"/> including intermodal activities,<span class="_ _2"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considered a single cash-g<span class="_ _2"/>enerating unit.<span class="_ _2"/> Management<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">views the Lo<span class="_ _2"/>gistics &amp; Services products as an int<span class="_ _2"/>egr<span class="_ _2"/>ated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">network, <span class="_ _2"/>with the activities <span class="_ _2"/>tested for<span class="_ _0"/> impairment as a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">single cash-gener<span class="_ _2"/>ating unit. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In <span class="_ _2"/>T<span class="_ _0"/>erminals, each <span class="_ _2"/>terminal is considered an<span class="_ _2"/> individual </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash-gener<span class="_ _2"/>ating unit for<span class="_ _0"/> impairment tests<span class="_ _2"/>, exc<span class="_ _2"/>ept when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the capacity is managed as a portf<span class="_ _2"/>olio.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>T<span class="_ _0"/>owage &amp; Maritime Services includes <span class="_ _2"/>towage activi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ties made up of two separ<span class="_ _2"/>ate cash-gener<span class="_ _0"/>ating units as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">well as sever<span class="_ _2"/>al individual businesses,<span class="_ _2"/> including Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Container<span class="_ _2"/> Industry<span class="_ _2"/>,<span class="_ _2"/> which are each<span class="_ _2"/> considered one </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash-gener<span class="_ _2"/>ating unit.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Significant accounting estima<span class="_ _2"/>tes</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _2"/>– assessment inputs</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The recov<span class="_ _2"/>erable amount<span class="_ _2"/> of each cash-gener<span class="_ _2"/>ating unit<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is determined based on <span class="_ _2"/>the higher of its <span class="_ _2"/>value in use and<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _2"/> v<span class="_ _2"/>alue less costs to sel<span class="_ _2"/>l. <span class="_ _2"/>The estimated <span class="_ _2"/>value in use<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is calculated using certain k<span class="_ _2"/>ey as<span class="_ _2"/>sumptions for<span class="_ _2"/> the ex<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pected future cash<span class="_ _2"/> flows and applied discount f<span class="_ _2"/>actor<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Curren<span class="_ _2"/>t mark<span class="_ _2"/>et v<span class="_ _2"/>alues for<span class="_ _2"/> v<span class="_ _2"/>essels,<span class="_ _2"/> etc., ar<span class="_ _2"/>e estimated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">using acknowledged brok<span class="_ _2"/>ers.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The cash flow pr<span class="_ _2"/>ojections are based on financial<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">budgets and business plans.<span class="_ _2"/> In natur<span class="_ _2"/>e, <span class="_ _2"/>these projections<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are subject<span class="_ _2"/> to judgemen<span class="_ _2"/>t and estimates <span class="_ _2"/>that ar<span class="_ _2"/>e uncer<span class="_ _2"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tain, <span class="_ _2"/>though based on experience and ext<span class="_ _2"/>ernal sources </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">where av<span class="_ _2"/>ailable.<span class="_ _2"/> Centralised pr<span class="_ _2"/>ocesses and invol<span class="_ _2"/>vement<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of corpor<span class="_ _2"/>ate functions ensure <span class="_ _2"/>that indices and da<span class="_ _2"/>ta </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sources ar<span class="_ _2"/>e selected consistentl<span class="_ _2"/>y while observing diff<span class="_ _2"/>er<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ences in risks and other<span class="_ _2"/> circumstances<span class="_ _2"/>.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The discount r<span class="_ _2"/>ates applied r<span class="_ _2"/>eflect <span class="_ _2"/>the time <span class="_ _2"/>value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">money as <span class="_ _2"/>well as the specific risks r<span class="_ _2"/>elated <span class="_ _2"/>to the under<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lying cash flows<span class="_ _2"/>, i.e<span class="_ _2"/>., pr<span class="_ _2"/>oject and/<span class="_ _0"/>or country<span class="_ _2"/>-specific risk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">premium.<span class="_ _2"/> Further<span class="_ _0"/>, any<span class="_ _2"/> uncertainties r<span class="_ _2"/>eflecting past per<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">formance and possible <span class="_ _2"/>variations in <span class="_ _2"/>the amount or<span class="_ _2"/> <span class="_ _2"/>timing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the pr<span class="_ _2"/>ojected cash flows ar<span class="_ _2"/>e gener<span class="_ _2"/>ally<span class="_ _2"/> reflected in <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discount r<span class="_ _2"/>ates<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _2"/>– key<span class="_ _2"/> assumptions applied </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The outcome of impairment<span class="_ _2"/> tests is subject<span class="_ _2"/> to estima<span class="_ _2"/>tes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the futur<span class="_ _2"/>e development<span class="_ _2"/> of freight<span class="_ _2"/> rat<span class="_ _2"/>es and volumes,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">oil prices and the discount<span class="_ _2"/> r<span class="_ _2"/>ates applied.<span class="_ _2"/> Management </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">determines these k<span class="_ _2"/>ey<span class="_ _2"/> assumptions by considering past<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">experience as wel<span class="_ _2"/>l as market<span class="_ _2"/> analysis and futur<span class="_ _2"/>e expec<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tations based on supply<span class="_ _2"/> and demand tr<span class="_ _2"/>ends.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Further<span class="_ _0"/>, <span class="_ _2"/>the value in use calcula<span class="_ _2"/>tion is highly sensitiv<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the <span class="_ _2"/>terminal gr<span class="_ _2"/>owth ra<span class="_ _2"/>te,<span class="_ _2"/> which is determined based on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the future expect<span class="_ _2"/>ed economic growth r<span class="_ _2"/>ate<span class="_ _2"/>, and r<span class="_ _2"/>eplace-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment CAPEX during <span class="_ _2"/>the terminal period,<span class="_ _2"/> which is det<span class="_ _2"/>er-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mined based on Management’<span class="_ _2"/>s plans and expectations </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _2"/> the future.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The future development<span class="_ _2"/> in fr<span class="_ _2"/>eight r<span class="_ _2"/>ates is a significant<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">factor<span class="_ _2"/> impacting <span class="_ _2"/>the Ocean segment<span class="_ _2"/> in particular<span class="_ _2"/> and is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">influenced by r<span class="_ _2"/>egional and global economic envir<span class="_ _2"/>onments,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trade pa<span class="_ _2"/>tterns,<span class="_ _2"/> and by industry<span class="_ _2"/>-specific tr<span class="_ _2"/>ends in r<span class="_ _2"/>espect </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of capacity suppl<span class="_ _2"/>y and demand.<span class="_ _2"/> Freight<span class="_ _2"/> rat<span class="_ _2"/>es have dete-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">riora<span class="_ _2"/>ted thr<span class="_ _2"/>oughout 2023 as a r<span class="_ _2"/>esult of <span class="_ _2"/>the pronounced </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market<span class="_ _2"/> normalisation and are e<span class="_ _2"/>xpected t<span class="_ _2"/>o face continued </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pressur<span class="_ _2"/>e for<span class="_ _2"/> the next<span class="_ _2"/> 1-2 y<span class="_ _2"/>ears. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The future dev<span class="_ _2"/>elopment of oil prices is also uncertain </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and is a significant f<span class="_ _2"/>actor<span class="_ _2"/> impacting accounting estimates </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">across <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk,<span class="_ _2"/> either<span class="_ _2"/> directly<span class="_ _2"/> or<span class="_ _2"/> indirectly<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ocean is directl<span class="_ _2"/>y impacted b<span class="_ _2"/>y the bunk<span class="_ _2"/>er<span class="_ _2"/> oil price,<span class="_ _2"/> wher<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the competitive landscape determines <span class="_ _2"/>the extent<span class="_ _2"/> to which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the development<span class="_ _2"/> is reflected in<span class="_ _2"/> the freight<span class="_ _2"/> r<span class="_ _2"/>ates charg<span class="_ _2"/>ed to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the customer<span class="_ _0"/>. Bunk<span class="_ _2"/>er<span class="_ _2"/> consumption is expected <span class="_ _2"/>to continue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to decline compared <span class="_ _2"/>to 2023<span class="_ _2"/>, driv<span class="_ _2"/>en by fleet<span class="_ _2"/> outsourcing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and efficiency impr<span class="_ _2"/>ovements.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Logistics &amp; Services is impacted by<span class="_ _2"/> ra<span class="_ _2"/>tes and volumes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">across <span class="_ _2"/>the Logistics &amp; Services product<span class="_ _2"/> lines,<span class="_ _2"/> particularly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the air<span class="_ _0"/> and haulage business. <span class="_ _2"/>The future gr<span class="_ _2"/>owth and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">productivity<span class="_ _2"/> of the Ful<span class="_ _2"/>filled by Maersk pr<span class="_ _2"/>oduct r<span class="_ _2"/>ange is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">also considered a k<span class="_ _2"/>ey<span class="_ _2"/> assumption as volumes ar<span class="_ _2"/>e sensitive </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the de<span class="_ _2"/>velopment of <span class="_ _2"/>the global economy<span class="_ _0"/>. Management </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considers both the futur<span class="_ _2"/>e economic outlook in k<span class="_ _2"/>ey r<span class="_ _2"/>egions,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">namely North<span class="_ _2"/> America and Eur<span class="_ _2"/>ope,<span class="_ _2"/> as well as e<span class="_ _2"/>xpected </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">synergies fr<span class="_ _2"/>om completed acquisitions <span class="_ _2"/>when determining </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the growth and pr<span class="_ _2"/>oductivity of F<span class="_ _2"/>ulfilled by<span class="_ _2"/> Maersk. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>T<span class="_ _0"/>erminals located in oil-producing coun<span class="_ _2"/>tries, e<span class="_ _2"/>.g., </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Nigeria and Br<span class="_ _2"/>azil, ar<span class="_ _2"/>e indirectl<span class="_ _2"/>y impacted by<span class="_ _2"/> the de<span class="_ _2"/>velop-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment in oil pric<span class="_ _2"/>es and the consequences for<span class="_ _0"/> the respective </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">countries’<span class="_ _0"/> economies, <span class="_ _2"/>which not only<span class="_ _2"/> affects <span class="_ _2"/>volumes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">handled in the <span class="_ _2"/>terminals,<span class="_ _2"/> but also f<span class="_ _2"/>oreign ex<span class="_ _2"/>change rat<span class="_ _2"/>es.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Continued economic deterior<span class="_ _2"/>ation and a lack of cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">repatriation<span class="_ _2"/> opportunities in certain oil-producing c<span class="_ _2"/>oun-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tries could also put pr<span class="_ _2"/>essure on <span class="_ _2"/>the carrying amounts of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">individual terminals<span class="_ _2"/>. <span class="_ _2"/>The other<span class="_ _2"/> ke<span class="_ _2"/>y sensitivities impacting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>erminals include container mo<span class="_ _2"/>ves,<span class="_ _2"/> rev<span class="_ _2"/>enue and cost per<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">move,<span class="_ _2"/> and local port r<span class="_ _2"/>ates<span class="_ _2"/>, al<span class="_ _2"/>l of which are impact<span class="_ _2"/>ed by </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the local economic outlook and competition,<span class="_ _2"/> as well as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">concession right<span class="_ _2"/> extensions and the discoun<span class="_ _2"/>t r<span class="_ _2"/>ate applied.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Inflation is also expected <span class="_ _2"/>to continue <span class="_ _2"/>to have a high </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impact acr<span class="_ _2"/>oss A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler - Maersk in<span class="_ _2"/> 2024,<span class="_ _2"/> impacting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">both the discoun<span class="_ _2"/>t r<span class="_ _2"/>ate and t<span class="_ _2"/>erminal growth r<span class="_ _2"/>ates<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _2"/>– results of<span class="_ _2"/> impairment assessments</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Ocean cash flow pr<span class="_ _2"/>ojection is based on the f<span class="_ _2"/>orecast<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as per<span class="_ _2"/> Q3 2023,<span class="_ _2"/> covering <span class="_ _2"/>the five-<span class="_ _2"/>year<span class="_ _2"/> business plan for<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2024-28<span class="_ _2"/>. Manag<span class="_ _2"/>ement applied an assumption<span class="_ _2"/> of growth </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in volumes based on<span class="_ _2"/> a calculated <span class="_ _2"/>terminal v<span class="_ _2"/>alue with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">growth equal <span class="_ _2"/>to 2.<span class="_ _2"/>7% (2.5%) p.a.<span class="_ _2"/> In the annual impairmen<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">test carried out<span class="_ _2"/> in November<span class="_ _0"/> 2023, a pr<span class="_ _2"/>e-<span class="_ _2"/>tax discount </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _2"/>te of 9.8% (9<span class="_ _2"/>.2%) p.a.<span class="_ _2"/> w<span class="_ _2"/>as applied. <span class="_ _2"/>The impairment <span class="_ _2"/>test </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">showed headroom<span class="_ _2"/> between the <span class="_ _2"/>value in use and <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">carrying amount.<span class="_ _2"/> The major<span class="_ _2"/> part o<span class="_ _2"/>f the carrying amount<span class="_ _2"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprised of vessels<span class="_ _2"/>. Manag<span class="_ _2"/>ement is of <span class="_ _2"/>the opinion that<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the assumptions applied are sustainable.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The Group’<span class="_ _0"/>s most significant goodwill c<span class="_ _2"/>omponent </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">relat<span class="_ _2"/>es to <span class="_ _2"/>the Logistics &amp; Services segment.<span class="_ _2"/> <span class="_ _2"/>The annual </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment <span class="_ _2"/>test is based on<span class="_ _2"/> the estimated <span class="_ _2"/>value in use<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">from <span class="_ _2"/>the five-<span class="_ _2"/>year<span class="_ _2"/> business plan for<span class="_ _2"/> 202<span class="_ _2"/>4-28,<span class="_ _2"/> wher<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the volume and impr<span class="_ _2"/>oved mar<span class="_ _2"/>gin growth assumptions<span class="_ _2"/>,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which are r<span class="_ _2"/>egion-specific,<span class="_ _2"/> reflect<span class="_ _2"/> the curr<span class="_ _2"/>ent expec<span class="_ _0"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tations for<span class="_ _2"/> the r<span class="_ _2"/>elevan<span class="_ _2"/>t period.<span class="_ _2"/> The applied <span class="_ _2"/>terminal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">growth is 2.<span class="_ _0"/>7% (2.0%). <span class="_ _2"/>A discount<span class="_ _2"/> ra<span class="_ _2"/>te of 9<span class="_ _2"/>.0% (8.4%) p<span class="_ _2"/>.a. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">befor<span class="_ _2"/>e tax or<span class="_ _2"/> 8<span class="_ _2"/>.8% (8.2%) p.a.<span class="_ _2"/> after<span class="_ _2"/> <span class="_ _2"/>tax was applied.<span class="_ _2"/> The<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impa<span class="_ _1"/>irment test<span class="_ _2"/> showed headr<span class="_ _2"/>oom from <span class="_ _2"/>the v<span class="_ _2"/>alue in use </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the carrying amoun<span class="_ _2"/>t. Management<span class="_ _2"/> is of the opinion<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tha<span class="_ _2"/>t <span class="_ _2"/>the <span class="_ _2"/>assumptions applied are sustainable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>In <span class="_ _2"/>T<span class="_ _0"/>erminals, Managemen<span class="_ _2"/>t assesses indicators o<span class="_ _2"/>f </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment including decr<span class="_ _2"/>easing volumes and based on<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">these indicators,<span class="_ _2"/> estimates <span class="_ _2"/>the recov<span class="_ _2"/>erable amounts<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the individual <span class="_ _2"/>terminals wher<span class="_ _2"/>eby impairment<span class="_ _2"/> indi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cators exist.<span class="_ _2"/> Management<span class="_ _2"/> also tests f<span class="_ _2"/>or impairmen<span class="_ _2"/>t of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the CGUs to <span class="_ _2"/>which goodwill or<span class="_ _2"/> indefinite lif<span class="_ _2"/>e intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets are al<span class="_ _2"/>located.<span class="_ _2"/> The cash flow pr<span class="_ _2"/>ojections for<span class="_ _2"/> each </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">terminal cover<span class="_ _0"/> the concession period and extension<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">options deemed likel<span class="_ _2"/>y t<span class="_ _2"/>o be exercised.<span class="_ _2"/> <span class="_ _2"/>The growth<span class="_ _2"/> rat<span class="_ _2"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assumed reflect<span class="_ _2"/> current<span class="_ _2"/> market<span class="_ _2"/> expectations for<span class="_ _0"/> the rel<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">evant<span class="_ _2"/> period, and <span class="_ _2"/>the discount<span class="_ _2"/> rat<span class="_ _2"/>es applied are between<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">7<span class="_ _0"/>.4% and 12.<span class="_ _0"/>1% (7<span class="_ _0"/>.2% and 13.0%) p.a.<span class="_ _2"/> after<span class="_ _0"/> tax. <span class="_ _2"/>The im<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pairment <span class="_ _2"/>tests considered f<span class="_ _2"/>air<span class="_ _2"/> value les<span class="_ _2"/>s cost of disposal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">compared <span class="_ _2"/>to the carrying amount<span class="_ _2"/> and resul<span class="_ _2"/>ted in im<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pairment losses of USD<span class="_ _2"/> 134m across mul<span class="_ _2"/>tiple terminals<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in 2023<span class="_ _2"/>, of which<span class="_ _2"/> USD 94m rela<span class="_ _2"/>tes to a<span class="_ _2"/> CGU in the Medi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">terr<span class="_ _2"/>anean, caused by<span class="_ _2"/> lower<span class="_ _2"/>-than-e<span class="_ _2"/>xpected volumes<span class="_ _2"/>, and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is primarily r<span class="_ _2"/>elated <span class="_ _2"/>to equipment.<span class="_ _2"/> Impairment losses of<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">an immaterial amount<span class="_ _2"/> across <span class="_ _2"/>two t<span class="_ _2"/>erminals was r<span class="_ _2"/>ecog<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nise<span class="_ _1"/>d in<span class="_ _1"/> 202<span class="_ _1"/>2 as<span class="_ _1"/> well <span class="_ _1"/>as USD 350m on <span class="_ _2"/>T<span class="_ _0"/>erminals’<span class="_ _0"/> minority </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">stake in Global P<span class="_ _2"/>orts Investments (GPI),<span class="_ _2"/> which w<span class="_ _2"/>as sold in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2022. For<span class="_ _0"/> more information on f<span class="_ _2"/>air <span class="_ _2"/>value det<span class="_ _2"/>ermination, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ref<span class="_ _2"/>er <span class="_ _2"/>to Note 4<span class="_ _2"/>.6 Financial instruments by ca<span class="_ _2"/>tegory<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _2"/>– key<span class="_ _2"/> assumptions sensitivity</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Using the discount<span class="_ _2"/> ra<span class="_ _2"/>te as of 31 December<span class="_ _2"/> 2023 and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">keeping al<span class="_ _2"/>l other assumptions c<span class="_ _2"/>onstant, <span class="_ _2"/>the Ocean CGU </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">showed headroom<span class="_ _2"/> of USD 3<span class="_ _2"/>.9bn betw<span class="_ _2"/>een the <span class="_ _2"/>value in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">use and the carrying amount.<span class="_ _2"/> <span class="_ _2"/>The following changes<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in assumptions reflect<span class="_ _2"/> the r<span class="_ _2"/>elated impact<span class="_ _2"/> on the <span class="_ _2"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in use and thus <span class="_ _2"/>the headroom f<span class="_ _2"/>or<span class="_ _2"/> the Ocean C<span class="_ _2"/>GU<span class="_ _2"/>.<span class="_ _2"/> <span class="_ _2"/>The </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sensitivities are pr<span class="_ _2"/>epared with<span class="_ _2"/> all other<span class="_ _2"/> assumptions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">kept constant.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:54.75px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 557.203px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">K<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ey Ocean CGU assumption<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 158.039px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Assumption<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Change<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 14.6074px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Effect<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> on <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>value in use</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 23.8418px; width: 557.156px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Growth in<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> terminal period<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.306px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2.7%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7949px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>+/<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>- 0.5 ppts<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.3886px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD 2.9bn</span><span style="position: absolute; display: inline-block; left: 0px; top: 44.2637px; width: 556.869px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Discount r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate p.a. bef<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ore <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tax as of 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9.2%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>+/- 0.5 ppts<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD 3.4bn</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Intangible assets<span class="ff3"> are measur<span class="_ _2"/>ed at cost<span class="_ _2"/> less accumulated </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortisation and impairment<span class="_ _2"/> losses.<span class="_ _2"/> Amortisation is cal-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">culated on a str<span class="_ _2"/>aight<span class="_ _2"/>-line basis over<span class="_ _2"/> <span class="_ _2"/>the estimated useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">life of the as<span class="_ _2"/>sets. For<span class="_ _0"/> container <span class="_ _2"/>terminals oper<span class="_ _2"/>ated under<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">certain restrictiv<span class="_ _2"/>e price and service conditions,<span class="_ _2"/> etc.,<span class="_ _2"/> con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cessional rights t<span class="_ _2"/>o collect usage char<span class="_ _2"/>ges ar<span class="_ _2"/>e included un-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">der<span class="_ _2"/> intangible assets.<span class="_ _2"/> The cost<span class="_ _2"/> includes the pr<span class="_ _2"/>esent <span class="_ _2"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of minimum payments under<span class="_ _2"/> concession agr<span class="_ _2"/>eements and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the cost of pr<span class="_ _2"/>operty<span class="_ _2"/>,<span class="_ _2"/> plant and equipment<span class="_ _2"/> constructed on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">behalf of the gr<span class="_ _2"/>antor<span class="_ _0"/> of a concession. <span class="_ _2"/>The rights are am-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ortised from <span class="_ _2"/>the commencement o<span class="_ _2"/>f operations o<span class="_ _2"/>ver<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">concession period.<span class="_ _2"/> The conces<span class="_ _2"/>sion period rang<span class="_ _2"/>es from <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">10 to 34 years<span class="_ _2"/>, with<span class="_ _2"/> an aver<span class="_ _2"/>age of 17<span class="_ _2"/> years<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span><span><span style="display:inherit;clear:left;">Goodwill and t<span class="_ _2"/>erminal rights have indefinite useful </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives while all other<span class="_ _0"/> classes have definite lives.<span class="_ _2"/> Intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets re<span class="_ _2"/>garding acquir<span class="_ _2"/>ed customer<span class="_ _2"/> relationships and<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">technology ar<span class="_ _2"/>e amortised over<span class="_ _2"/> a useful lif<span class="_ _2"/>e of 10-24 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">years and 5-<span class="_ _2"/>10 <span class="_ _2"/>years,<span class="_ _2"/> respectivel<span class="_ _2"/>y<span class="_ _2"/>. In<span class="_ _2"/>ternally<span class="_ _2"/> developed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">IT<span class="_ _2"/> software is amortised o<span class="_ _2"/>ver<span class="_ _2"/> a useful life of 5 <span class="_ _2"/>years.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses<span class="ff3"> are r<span class="_ _2"/>ecognised when<span class="_ _2"/> the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an as<span class="_ _2"/>set or<span class="_ _2"/> a cash-gener<span class="_ _2"/>ating unit e<span class="_ _2"/>xceeds the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">higher<span class="_ _2"/> of the estimated <span class="_ _2"/>value in use and f<span class="_ _2"/>air <span class="_ _2"/>value less<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">costs of disposal. Goodwil<span class="_ _2"/>l is attributed <span class="_ _2"/>to cash- <span class="_ _4"/>generating </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">units on acquisition and impair<span class="_ _2"/>ed before other<span class="_ _0"/> assets. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Intangible assets and property<span class="_ _0"/>, plant and equipment<span class="_ _2"/> are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tested for<span class="_ _0"/> impairment if ther<span class="_ _2"/>e is an indication of impair<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment.<span class="_ _2"/> However<span class="_ _0"/>, annual impairment<span class="_ _2"/> tests ar<span class="_ _2"/>e carried out f<span class="_ _2"/>or </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">goodwill and other<span class="_ _2"/> intangible assets with inde<span class="_ _2"/>finite useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives as wel<span class="_ _2"/>l as intangible assets that<span class="_ _2"/> are not<span class="_ _2"/> yet<span class="_ _2"/> in use.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses ar<span class="_ _2"/>e included in deprecia<span class="_ _2"/>tion, amortisa-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion and impairment,<span class="_ _2"/> net, in <span class="_ _2"/>the income statement.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 3.<span class="_ _2"/>1 <span class="_ _1c7"> </span>Intangible assets</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:354.140625px;"><span style="position: absolute; display: inline-block; left: 210.562px; top: 0.0136718px; width: 119.912px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Goodwill<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 358.734px; top: 0.0136718px; width: 47.5488px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Customer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 431.109px; top: 0.0136718px; width: 50.8828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> incl. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 534px; top: 0.0136718px; width: 23.5195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 274.609px; top: 12.0137px; width: 55.1133px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">and service <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 342.25px; top: 12.0137px; width: 63.5684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">relationships </span><span style="position: absolute; display: inline-block; left: 427.766px; top: 12.0137px; width: 52.9863px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">IT<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> software</span><span style="position: absolute; display: inline-block; left: 275.953px; top: 24.0137px; width: 54.1699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">concession </span><span style="position: absolute; display: inline-block; left: 351.719px; top: 24.0137px; width: 52.5527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">and brands</span><span style="position: absolute; display: inline-block; left: 300.406px; top: 36.0137px; width: 27.4629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">rights</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.9961px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Cost</span><span style="position: absolute; display: inline-block; left: 0px; top: 75.5762px; width: 556.764px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.445px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">5,554<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,985<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,043<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,371<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,953</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 90.4668px; width: 557.033px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 201.931px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>183<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>204</span><span style="position: absolute; display: inline-block; left: 166.406px; top: 105.242px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 105.357px; width: 166.529px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions from acquir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed companies</span><span style="position: absolute; display: inline-block; left: 247px; top: 105.373px; width: 310.271px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14</span><span style="position: absolute; display: inline-block; left: 0px; top: 120.248px; width: 556.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>402<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>234<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>642</span><span style="position: absolute; display: inline-block; left: 0px; top: 135.139px; width: 557.174px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 87.1642px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-332<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-356</span><span style="position: absolute; display: inline-block; left: 0px; top: 150.029px; width: 556.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.268px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>70</span><span style="position: absolute; display: inline-block; left: 0px; top: 164.92px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,230<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,031<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,659<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,323<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>12,243</span><span style="position: absolute; display: inline-block; left: 0px; top: 195.027px; width: 162.439px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Amortisation and impairment losses</span><span style="position: absolute; display: inline-block; left: 0px; top: 209.607px; width: 556.752px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.412px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">349<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>824<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>491<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>504<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,168</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 224.482px; width: 557.004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Amortisation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 184.804px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>103<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>158<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>121<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>382</span><span style="position: absolute; display: inline-block; left: 0px; top: 239.373px; width: 556.734px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 159.639px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>299<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>23<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>322</span><span style="position: absolute; display: inline-block; left: 0px; top: 254.264px; width: 556.711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 201.931px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>402<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>79<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>481</span><span style="position: absolute; display: inline-block; left: 0px; top: 269.154px; width: 556.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 87.1642px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-279<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-297</span><span style="position: absolute; display: inline-block; left: 0px; top: 284.045px; width: 557.033px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 112.166px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25</span><span style="position: absolute; display: inline-block; left: 0px; top: 298.936px; width: 556.875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.185px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>69<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>937<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>542<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>571<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,119</span><span style="position: absolute; display: inline-block; left: 0px; top: 329.027px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carrying amount:</span><span style="position: absolute; display: inline-block; left: 327.891px; top: 343.539px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 374.859px; top: 343.654px; width: 105.434px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">2,117<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>752</span><span style="position: absolute; display: inline-block; left: 0px; top: 343.607px; width: 327.305px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,161<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,094</span><span style="position: absolute; display: inline-block; left: 521.297px; top: 343.654px; width: 35.5371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">10,124</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Acquisition of Martin Bencher<span class="_ _2"/> and Grindrod.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Of which USD 49m is under<span class="_ _2"/> developmen<span class="_ _2"/>t. USD 34m is r<span class="_ _2"/>elated <span class="_ _2"/>to terminal rights <span class="_ _2"/>with indefinite useful lives </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in Poti Sea Port<span class="_ _2"/> Corp. Service conc<span class="_ _2"/>ession rights with a carrying amount<span class="_ _2"/> of USD 70m ha<span class="_ _2"/>ve restricted <span class="_ _2"/>title.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Of which USD 162m is related <span class="_ _2"/>to ongoing development<span class="_ _2"/> of softwar<span class="_ _2"/>e. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:383.9375px;"><span style="position: absolute; display: inline-block; left: 210.562px; top: 0.0136718px; width: 119.912px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Goodwill<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 359.719px; top: 0.0136718px; width: 47.5488px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Customer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 431.828px; top: 0.0136718px; width: 50.8828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> incl. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 534.188px; top: 0.0136718px; width: 23.5195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 274.25px; top: 12.0137px; width: 55.1133px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">and service <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 342.75px; top: 12.0137px; width: 63.5684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">relationships </span><span style="position: absolute; display: inline-block; left: 428.422px; top: 12.0137px; width: 52.9863px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">IT<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> software</span><span style="position: absolute; display: inline-block; left: 275.266px; top: 24.0137px; width: 54.1699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">concession </span><span style="position: absolute; display: inline-block; left: 351.047px; top: 24.0137px; width: 52.5527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">and brands</span><span style="position: absolute; display: inline-block; left: 299.969px; top: 36.0137px; width: 27.4629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">rights</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.9961px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Cost</span><span style="position: absolute; display: inline-block; left: 0px; top: 75.5762px; width: 556.764px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2022<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.445px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1,928<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,132<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,579<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,205<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,844</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 90.4668px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.306px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>324<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>349</span><span style="position: absolute; display: inline-block; left: 165.828px; top: 105.242px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 105.357px; width: 166.529px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions from acquir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed companies</span><span style="position: absolute; display: inline-block; left: 221.781px; top: 105.373px; width: 334.928px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">3,667<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,474<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>213<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,354</span><span style="position: absolute; display: inline-block; left: 0px; top: 120.248px; width: 556.729px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.306px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>352<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>352</span><span style="position: absolute; display: inline-block; left: 0px; top: 135.139px; width: 559.494px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 62.6542px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 150.029px; width: 557.238px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 103.816px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-104<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-103</span><span style="position: absolute; display: inline-block; left: 0px; top: 164.92px; width: 557.098px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 105.586px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-41<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-64<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-24<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-139</span><span style="position: absolute; display: inline-block; left: 0px; top: 179.811px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,554<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,985<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,043<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,371<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>12,953</span><span style="position: absolute; display: inline-block; left: 0px; top: 209.918px; width: 162.439px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Amortisation and impairment losses</span><span style="position: absolute; display: inline-block; left: 0px; top: 224.482px; width: 556.752px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2022<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.412px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">367<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>794<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>324<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>590<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,075</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 239.373px; width: 556.969px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Amortisation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 182.338px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>110<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>147<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>108<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>365</span><span style="position: absolute; display: inline-block; left: 0px; top: 254.264px; width: 556.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.412px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>32<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>68</span><span style="position: absolute; display: inline-block; left: 0px; top: 269.154px; width: 556.729px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.306px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>221<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>221</span><span style="position: absolute; display: inline-block; left: 0px; top: 284.045px; width: 559.494px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 62.6542px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 298.936px; width: 556.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 103.816px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-79<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-78</span><span style="position: absolute; display: inline-block; left: 0px; top: 313.826px; width: 557.051px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 105.586px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-18<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-41</span><span style="position: absolute; display: inline-block; left: 0px; top: 328.717px; width: 556.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.033px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>349<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>824<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>491<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>504<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,168</span><span style="position: absolute; display: inline-block; left: 0px; top: 358.809px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carrying amount:</span><span style="position: absolute; display: inline-block; left: 327.406px; top: 373.32px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 374.75px; top: 373.451px; width: 105.434px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">2,552<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>867</span><span style="position: absolute; display: inline-block; left: 0px; top: 373.389px; width: 327.305px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,205<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,161</span><span style="position: absolute; display: inline-block; left: 521.891px; top: 373.451px; width: 35.5371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">10,785</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Acquisition of LF<span class="_ _2"/> Logistics,<span class="_ _2"/> Pilot, Senat<span class="_ _2"/>or In<span class="_ _2"/>ternational and ResQ.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Of which USD 38m is under<span class="_ _2"/> developmen<span class="_ _2"/>t. USD 34m is r<span class="_ _2"/>elated <span class="_ _2"/>to terminal rights <span class="_ _2"/>with indefinite useful lives in Poti Sea P<span class="_ _2"/>ort Corp.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Service concession rights with a<span class="_ _2"/> carrying amount of USD 7<span class="_ _2"/>0m have restrict<span class="_ _2"/>ed title.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Of which USD 141m is related <span class="_ _2"/>to ongoing development<span class="_ _2"/> of softwar<span class="_ _2"/>e.</span></span> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:129.1875px;"><span style="position: absolute; display: inline-block; left: 428.422px; top: 0.0136718px; width: 121.518px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Goodwill carrying amount</span><span style="position: absolute; display: inline-block; left: 0px; top: 23.8418px; width: 556.699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Operating se<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>gment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>Cash-gener<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ating unit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 204.533px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 48.5137px; width: 559.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 119.918px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Ocean <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 280.852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>316<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 316 </span><span style="position: absolute; display: inline-block; left: 0px; top: 62.5605px; width: 559.652px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Logistics &amp; Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.9511px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Logistics &amp; Services <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 207.832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,599<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 4,582 </span><span style="position: absolute; display: inline-block; left: 0px; top: 76.5918px; width: 148.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 103.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 148.951px; top: 76.5918px; width: 410.771px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Multiple t<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminals <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 223.558px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">241<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 248 </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 90.623px; width: 559.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owage &amp; Maritime Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.2304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ow<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>age – Port <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owage <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>Amster<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>dam and Others<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 109.43px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 58 </span><span style="position: absolute; display: inline-block; left: 0px; top: 104.67px; width: 559.57px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 449.501px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 1 </span><span style="position: absolute; display: inline-block; left: 0px; top: 118.701px; width: 559.266px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 426.675px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,161<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 5,205 </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:116px;"><span style="position: absolute; display: inline-block; left: 445.703px; top: 0.0136718px; width: 86.6836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Operating se<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>gment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 99.3457px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>Cash-genera<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ting unit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 162.451px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span></span><span style="position: absolute; display: inline-block; left: 480.969px; top: 49.2266px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 482.93px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 162.451px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 238.213px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 319 </span><span style="position: absolute; display: inline-block; left: 541.562px; top: 49.3574px; width: 18.0234px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> 28 </span><span style="position: absolute; display: inline-block; left: 480.969px; top: 63.2734px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 63.4043px; width: 482.801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Logistics &amp; Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 98.8946px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Logistics &amp; Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 187.319px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 2 </span><span style="position: absolute; display: inline-block; left: 541.562px; top: 63.4043px; width: 18.0234px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> 21 </span><span style="position: absolute; display: inline-block; left: 0px; top: 77.4355px; width: 191.338px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.77px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 191.338px; top: 77.4355px; width: 368.291px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">V<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>arious terminals<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 17 </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 91.4824px; width: 559.441px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owage &amp; Maritime Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Maersk Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> Industry<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.914px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 1 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.7989px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 2 </span><span style="position: absolute; display: inline-block; left: 0px; top: 105.514px; width: 559.014px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 434.07px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 322 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 68 </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span><span class="ws0">On 27<span class="_ _2"/> January 2023<span class="_ _2"/>, it<span class="_ _2"/> was announced <span class="_ _2"/>that <span class="_ _2"/>the Group would mov<span class="_ _2"/>e tow<span class="_ _2"/>ards a singular<span class="_ _2"/> and unified brand b<span class="_ _2"/>y integr<span class="_ _2"/>ating <span class="_ _2"/>the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _3"/>. Moller<span class="_ _2"/> - Maersk br<span class="_ _2"/>ands. Existing br<span class="_ _2"/>ands wer<span class="_ _2"/>e retir<span class="_ _2"/>ed during Q1 2023,<span class="_ _2"/> resulting in<span class="_ _2"/> the reco<span class="_ _2"/>gnition of impairment losses of <span class="_ _2"/>the full </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">carrying amount of each r<span class="_ _2"/>espective retir<span class="_ _2"/>ed brand on <span class="_ _2"/>the balance sheet. <span class="_ _2"/>T<span class="_ _0"/>otal impairment losses rela<span class="_ _2"/>ted to <span class="_ _2"/>the retiremen<span class="_ _2"/>t of br<span class="_ _2"/>ands in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2023 <span class="_ _1"/>recognis<span class="_ _1"/>ed i<span class="_ _1"/>n the income statement is USD 299m,<span class="_ _2"/> of which USD 297<span class="_ _2"/>m is within Ocean<span class="_ _2"/> and USD 2m is within Logistics &amp; Services<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"> </span> <span class="_ _a"/>SIGNIFICANT<span class="_ _2"/> ACCOUNTING ESTIMA<span class="_ _2"/>TES AND<span class="_ _2"/> JUDGEMENTS </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Significant accounting judg<span class="_ _2"/>ements</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Determination of<span class="_ _2"/> cash-generating units</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Judgement is applied in<span class="_ _2"/> the determination<span class="_ _2"/> of cash- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gener<span class="_ _2"/>ating units to <span class="_ _2"/>which goodwill is alloca<span class="_ _2"/>ted for<span class="_ _2"/> impair-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment <span class="_ _2"/>testing and in <span class="_ _2"/>the selection of methodologies and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assumptions applied in impairment <span class="_ _2"/>tests.<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The determination of cash-gener<span class="_ _2"/>ating units diff<span class="_ _2"/>ers </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on the business ar<span class="_ _2"/>ea. Oc<span class="_ _2"/>ean opera<span class="_ _2"/>tes its fleet of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">container<span class="_ _2"/> vessels and hub <span class="_ _2"/>terminals in an in<span class="_ _2"/>tegr<span class="_ _2"/>ated <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">net <span class="_ _4"/>work. Consequently<span class="_ _0"/>, the Oc<span class="_ _2"/>ean activities are <span class="_ _2"/>tested </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _2"/> impairment as a<span class="_ _2"/> single cash-genera<span class="_ _2"/>ting unit. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Logistics &amp; Services,<span class="_ _2"/> including intermodal activities,<span class="_ _2"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considered a single cash-g<span class="_ _2"/>enerating unit.<span class="_ _2"/> Management<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">views the Lo<span class="_ _2"/>gistics &amp; Services products as an int<span class="_ _2"/>egr<span class="_ _2"/>ated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">network, <span class="_ _2"/>with the activities <span class="_ _2"/>tested for<span class="_ _0"/> impairment as a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">single cash-gener<span class="_ _2"/>ating unit. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In <span class="_ _2"/>T<span class="_ _0"/>erminals, each <span class="_ _2"/>terminal is considered an<span class="_ _2"/> individual </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash-gener<span class="_ _2"/>ating unit for<span class="_ _0"/> impairment tests<span class="_ _2"/>, exc<span class="_ _2"/>ept when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the capacity is managed as a portf<span class="_ _2"/>olio.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>T<span class="_ _0"/>owage &amp; Maritime Services includes <span class="_ _2"/>towage activi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ties made up of two separ<span class="_ _2"/>ate cash-gener<span class="_ _0"/>ating units as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">well as sever<span class="_ _2"/>al individual businesses,<span class="_ _2"/> including Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Container<span class="_ _2"/> Industry<span class="_ _2"/>,<span class="_ _2"/> which are each<span class="_ _2"/> considered one </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash-gener<span class="_ _2"/>ating unit.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Significant accounting estima<span class="_ _2"/>tes</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _2"/>– assessment inputs</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The recov<span class="_ _2"/>erable amount<span class="_ _2"/> of each cash-gener<span class="_ _2"/>ating unit<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is determined based on <span class="_ _2"/>the higher of its <span class="_ _2"/>value in use and<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _2"/> v<span class="_ _2"/>alue less costs to sel<span class="_ _2"/>l. <span class="_ _2"/>The estimated <span class="_ _2"/>value in use<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is calculated using certain k<span class="_ _2"/>ey as<span class="_ _2"/>sumptions for<span class="_ _2"/> the ex<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pected future cash<span class="_ _2"/> flows and applied discount f<span class="_ _2"/>actor<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Curren<span class="_ _2"/>t mark<span class="_ _2"/>et v<span class="_ _2"/>alues for<span class="_ _2"/> v<span class="_ _2"/>essels,<span class="_ _2"/> etc., ar<span class="_ _2"/>e estimated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">using acknowledged brok<span class="_ _2"/>ers.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The cash flow pr<span class="_ _2"/>ojections are based on financial<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">budgets and business plans.<span class="_ _2"/> In natur<span class="_ _2"/>e, <span class="_ _2"/>these projections<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are subject<span class="_ _2"/> to judgemen<span class="_ _2"/>t and estimates <span class="_ _2"/>that ar<span class="_ _2"/>e uncer<span class="_ _2"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tain, <span class="_ _2"/>though based on experience and ext<span class="_ _2"/>ernal sources </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">where av<span class="_ _2"/>ailable.<span class="_ _2"/> Centralised pr<span class="_ _2"/>ocesses and invol<span class="_ _2"/>vement<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of corpor<span class="_ _2"/>ate functions ensure <span class="_ _2"/>that indices and da<span class="_ _2"/>ta </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sources ar<span class="_ _2"/>e selected consistentl<span class="_ _2"/>y while observing diff<span class="_ _2"/>er<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ences in risks and other<span class="_ _2"/> circumstances<span class="_ _2"/>.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The discount r<span class="_ _2"/>ates applied r<span class="_ _2"/>eflect <span class="_ _2"/>the time <span class="_ _2"/>value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">money as <span class="_ _2"/>well as the specific risks r<span class="_ _2"/>elated <span class="_ _2"/>to the under<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lying cash flows<span class="_ _2"/>, i.e<span class="_ _2"/>., pr<span class="_ _2"/>oject and/<span class="_ _0"/>or country<span class="_ _2"/>-specific risk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">premium.<span class="_ _2"/> Further<span class="_ _0"/>, any<span class="_ _2"/> uncertainties r<span class="_ _2"/>eflecting past per<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">formance and possible <span class="_ _2"/>variations in <span class="_ _2"/>the amount or<span class="_ _2"/> <span class="_ _2"/>timing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the pr<span class="_ _2"/>ojected cash flows ar<span class="_ _2"/>e gener<span class="_ _2"/>ally<span class="_ _2"/> reflected in <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discount r<span class="_ _2"/>ates<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _2"/>– key<span class="_ _2"/> assumptions applied </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The outcome of impairment<span class="_ _2"/> tests is subject<span class="_ _2"/> to estima<span class="_ _2"/>tes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the futur<span class="_ _2"/>e development<span class="_ _2"/> of freight<span class="_ _2"/> rat<span class="_ _2"/>es and volumes,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">oil prices and the discount<span class="_ _2"/> r<span class="_ _2"/>ates applied.<span class="_ _2"/> Management </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">determines these k<span class="_ _2"/>ey<span class="_ _2"/> assumptions by considering past<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">experience as wel<span class="_ _2"/>l as market<span class="_ _2"/> analysis and futur<span class="_ _2"/>e expec<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tations based on supply<span class="_ _2"/> and demand tr<span class="_ _2"/>ends.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Further<span class="_ _0"/>, <span class="_ _2"/>the value in use calcula<span class="_ _2"/>tion is highly sensitiv<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the <span class="_ _2"/>terminal gr<span class="_ _2"/>owth ra<span class="_ _2"/>te,<span class="_ _2"/> which is determined based on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the future expect<span class="_ _2"/>ed economic growth r<span class="_ _2"/>ate<span class="_ _2"/>, and r<span class="_ _2"/>eplace-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment CAPEX during <span class="_ _2"/>the terminal period,<span class="_ _2"/> which is det<span class="_ _2"/>er-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mined based on Management’<span class="_ _2"/>s plans and expectations </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _2"/> the future.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The future development<span class="_ _2"/> in fr<span class="_ _2"/>eight r<span class="_ _2"/>ates is a significant<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">factor<span class="_ _2"/> impacting <span class="_ _2"/>the Ocean segment<span class="_ _2"/> in particular<span class="_ _2"/> and is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">influenced by r<span class="_ _2"/>egional and global economic envir<span class="_ _2"/>onments,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trade pa<span class="_ _2"/>tterns,<span class="_ _2"/> and by industry<span class="_ _2"/>-specific tr<span class="_ _2"/>ends in r<span class="_ _2"/>espect </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of capacity suppl<span class="_ _2"/>y and demand.<span class="_ _2"/> Freight<span class="_ _2"/> rat<span class="_ _2"/>es have dete-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">riora<span class="_ _2"/>ted thr<span class="_ _2"/>oughout 2023 as a r<span class="_ _2"/>esult of <span class="_ _2"/>the pronounced </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market<span class="_ _2"/> normalisation and are e<span class="_ _2"/>xpected t<span class="_ _2"/>o face continued </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pressur<span class="_ _2"/>e for<span class="_ _2"/> the next<span class="_ _2"/> 1-2 y<span class="_ _2"/>ears. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The future dev<span class="_ _2"/>elopment of oil prices is also uncertain </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and is a significant f<span class="_ _2"/>actor<span class="_ _2"/> impacting accounting estimates </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">across <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk,<span class="_ _2"/> either<span class="_ _2"/> directly<span class="_ _2"/> or<span class="_ _2"/> indirectly<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ocean is directl<span class="_ _2"/>y impacted b<span class="_ _2"/>y the bunk<span class="_ _2"/>er<span class="_ _2"/> oil price,<span class="_ _2"/> wher<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the competitive landscape determines <span class="_ _2"/>the extent<span class="_ _2"/> to which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the development<span class="_ _2"/> is reflected in<span class="_ _2"/> the freight<span class="_ _2"/> r<span class="_ _2"/>ates charg<span class="_ _2"/>ed to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the customer<span class="_ _0"/>. Bunk<span class="_ _2"/>er<span class="_ _2"/> consumption is expected <span class="_ _2"/>to continue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to decline compared <span class="_ _2"/>to 2023<span class="_ _2"/>, driv<span class="_ _2"/>en by fleet<span class="_ _2"/> outsourcing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and efficiency impr<span class="_ _2"/>ovements.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Logistics &amp; Services is impacted by<span class="_ _2"/> ra<span class="_ _2"/>tes and volumes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">across <span class="_ _2"/>the Logistics &amp; Services product<span class="_ _2"/> lines,<span class="_ _2"/> particularly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the air<span class="_ _0"/> and haulage business. <span class="_ _2"/>The future gr<span class="_ _2"/>owth and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">productivity<span class="_ _2"/> of the Ful<span class="_ _2"/>filled by Maersk pr<span class="_ _2"/>oduct r<span class="_ _2"/>ange is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">also considered a k<span class="_ _2"/>ey<span class="_ _2"/> assumption as volumes ar<span class="_ _2"/>e sensitive </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the de<span class="_ _2"/>velopment of <span class="_ _2"/>the global economy<span class="_ _0"/>. Management </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considers both the futur<span class="_ _2"/>e economic outlook in k<span class="_ _2"/>ey r<span class="_ _2"/>egions,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">namely North<span class="_ _2"/> America and Eur<span class="_ _2"/>ope,<span class="_ _2"/> as well as e<span class="_ _2"/>xpected </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">synergies fr<span class="_ _2"/>om completed acquisitions <span class="_ _2"/>when determining </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the growth and pr<span class="_ _2"/>oductivity of F<span class="_ _2"/>ulfilled by<span class="_ _2"/> Maersk. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>T<span class="_ _0"/>erminals located in oil-producing coun<span class="_ _2"/>tries, e<span class="_ _2"/>.g., </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Nigeria and Br<span class="_ _2"/>azil, ar<span class="_ _2"/>e indirectl<span class="_ _2"/>y impacted by<span class="_ _2"/> the de<span class="_ _2"/>velop-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment in oil pric<span class="_ _2"/>es and the consequences for<span class="_ _0"/> the respective </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">countries’<span class="_ _0"/> economies, <span class="_ _2"/>which not only<span class="_ _2"/> affects <span class="_ _2"/>volumes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">handled in the <span class="_ _2"/>terminals,<span class="_ _2"/> but also f<span class="_ _2"/>oreign ex<span class="_ _2"/>change rat<span class="_ _2"/>es.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Continued economic deterior<span class="_ _2"/>ation and a lack of cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">repatriation<span class="_ _2"/> opportunities in certain oil-producing c<span class="_ _2"/>oun-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tries could also put pr<span class="_ _2"/>essure on <span class="_ _2"/>the carrying amounts of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">individual terminals<span class="_ _2"/>. <span class="_ _2"/>The other<span class="_ _2"/> ke<span class="_ _2"/>y sensitivities impacting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>erminals include container mo<span class="_ _2"/>ves,<span class="_ _2"/> rev<span class="_ _2"/>enue and cost per<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">move,<span class="_ _2"/> and local port r<span class="_ _2"/>ates<span class="_ _2"/>, al<span class="_ _2"/>l of which are impact<span class="_ _2"/>ed by </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the local economic outlook and competition,<span class="_ _2"/> as well as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">concession right<span class="_ _2"/> extensions and the discoun<span class="_ _2"/>t r<span class="_ _2"/>ate applied.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Inflation is also expected <span class="_ _2"/>to continue <span class="_ _2"/>to have a high </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impact acr<span class="_ _2"/>oss A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler - Maersk in<span class="_ _2"/> 2024,<span class="_ _2"/> impacting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">both the discoun<span class="_ _2"/>t r<span class="_ _2"/>ate and t<span class="_ _2"/>erminal growth r<span class="_ _2"/>ates<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _2"/>– results of<span class="_ _2"/> impairment assessments</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Ocean cash flow pr<span class="_ _2"/>ojection is based on the f<span class="_ _2"/>orecast<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as per<span class="_ _2"/> Q3 2023,<span class="_ _2"/> covering <span class="_ _2"/>the five-<span class="_ _2"/>year<span class="_ _2"/> business plan for<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2024-28<span class="_ _2"/>. Manag<span class="_ _2"/>ement applied an assumption<span class="_ _2"/> of growth </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in volumes based on<span class="_ _2"/> a calculated <span class="_ _2"/>terminal v<span class="_ _2"/>alue with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">growth equal <span class="_ _2"/>to 2.<span class="_ _2"/>7% (2.5%) p.a.<span class="_ _2"/> In the annual impairmen<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">test carried out<span class="_ _2"/> in November<span class="_ _0"/> 2023, a pr<span class="_ _2"/>e-<span class="_ _2"/>tax discount </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _2"/>te of 9.8% (9<span class="_ _2"/>.2%) p.a.<span class="_ _2"/> w<span class="_ _2"/>as applied. <span class="_ _2"/>The impairment <span class="_ _2"/>test </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">showed headroom<span class="_ _2"/> between the <span class="_ _2"/>value in use and <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">carrying amount.<span class="_ _2"/> The major<span class="_ _2"/> part o<span class="_ _2"/>f the carrying amount<span class="_ _2"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprised of vessels<span class="_ _2"/>. Manag<span class="_ _2"/>ement is of <span class="_ _2"/>the opinion that<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the assumptions applied are sustainable.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The Group’<span class="_ _0"/>s most significant goodwill c<span class="_ _2"/>omponent </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">relat<span class="_ _2"/>es to <span class="_ _2"/>the Logistics &amp; Services segment.<span class="_ _2"/> <span class="_ _2"/>The annual </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment <span class="_ _2"/>test is based on<span class="_ _2"/> the estimated <span class="_ _2"/>value in use<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">from <span class="_ _2"/>the five-<span class="_ _2"/>year<span class="_ _2"/> business plan for<span class="_ _2"/> 202<span class="_ _2"/>4-28,<span class="_ _2"/> wher<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the volume and impr<span class="_ _2"/>oved mar<span class="_ _2"/>gin growth assumptions<span class="_ _2"/>,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which are r<span class="_ _2"/>egion-specific,<span class="_ _2"/> reflect<span class="_ _2"/> the curr<span class="_ _2"/>ent expec<span class="_ _0"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tations for<span class="_ _2"/> the r<span class="_ _2"/>elevan<span class="_ _2"/>t period.<span class="_ _2"/> The applied <span class="_ _2"/>terminal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">growth is 2.<span class="_ _0"/>7% (2.0%). <span class="_ _2"/>A discount<span class="_ _2"/> ra<span class="_ _2"/>te of 9<span class="_ _2"/>.0% (8.4%) p<span class="_ _2"/>.a. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">befor<span class="_ _2"/>e tax or<span class="_ _2"/> 8<span class="_ _2"/>.8% (8.2%) p.a.<span class="_ _2"/> after<span class="_ _2"/> <span class="_ _2"/>tax was applied.<span class="_ _2"/> The<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impa<span class="_ _1"/>irment test<span class="_ _2"/> showed headr<span class="_ _2"/>oom from <span class="_ _2"/>the v<span class="_ _2"/>alue in use </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the carrying amoun<span class="_ _2"/>t. Management<span class="_ _2"/> is of the opinion<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tha<span class="_ _2"/>t <span class="_ _2"/>the <span class="_ _2"/>assumptions applied are sustainable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>In <span class="_ _2"/>T<span class="_ _0"/>erminals, Managemen<span class="_ _2"/>t assesses indicators o<span class="_ _2"/>f </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment including decr<span class="_ _2"/>easing volumes and based on<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">these indicators,<span class="_ _2"/> estimates <span class="_ _2"/>the recov<span class="_ _2"/>erable amounts<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the individual <span class="_ _2"/>terminals wher<span class="_ _2"/>eby impairment<span class="_ _2"/> indi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cators exist.<span class="_ _2"/> Management<span class="_ _2"/> also tests f<span class="_ _2"/>or impairmen<span class="_ _2"/>t of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the CGUs to <span class="_ _2"/>which goodwill or<span class="_ _2"/> indefinite lif<span class="_ _2"/>e intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets are al<span class="_ _2"/>located.<span class="_ _2"/> The cash flow pr<span class="_ _2"/>ojections for<span class="_ _2"/> each </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">terminal cover<span class="_ _0"/> the concession period and extension<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">options deemed likel<span class="_ _2"/>y t<span class="_ _2"/>o be exercised.<span class="_ _2"/> <span class="_ _2"/>The growth<span class="_ _2"/> rat<span class="_ _2"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assumed reflect<span class="_ _2"/> current<span class="_ _2"/> market<span class="_ _2"/> expectations for<span class="_ _0"/> the rel<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">evant<span class="_ _2"/> period, and <span class="_ _2"/>the discount<span class="_ _2"/> rat<span class="_ _2"/>es applied are between<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">7<span class="_ _0"/>.4% and 12.<span class="_ _0"/>1% (7<span class="_ _0"/>.2% and 13.0%) p.a.<span class="_ _2"/> after<span class="_ _0"/> tax. <span class="_ _2"/>The im<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pairment <span class="_ _2"/>tests considered f<span class="_ _2"/>air<span class="_ _2"/> value les<span class="_ _2"/>s cost of disposal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">compared <span class="_ _2"/>to the carrying amount<span class="_ _2"/> and resul<span class="_ _2"/>ted in im<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pairment losses of USD<span class="_ _2"/> 134m across mul<span class="_ _2"/>tiple terminals<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in 2023<span class="_ _2"/>, of which<span class="_ _2"/> USD 94m rela<span class="_ _2"/>tes to a<span class="_ _2"/> CGU in the Medi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">terr<span class="_ _2"/>anean, caused by<span class="_ _2"/> lower<span class="_ _2"/>-than-e<span class="_ _2"/>xpected volumes<span class="_ _2"/>, and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is primarily r<span class="_ _2"/>elated <span class="_ _2"/>to equipment.<span class="_ _2"/> Impairment losses of<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">an immaterial amount<span class="_ _2"/> across <span class="_ _2"/>two t<span class="_ _2"/>erminals was r<span class="_ _2"/>ecog<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nise<span class="_ _1"/>d in<span class="_ _1"/> 202<span class="_ _1"/>2 as<span class="_ _1"/> well <span class="_ _1"/>as USD 350m on <span class="_ _2"/>T<span class="_ _0"/>erminals’<span class="_ _0"/> minority </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">stake in Global P<span class="_ _2"/>orts Investments (GPI),<span class="_ _2"/> which w<span class="_ _2"/>as sold in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2022. For<span class="_ _0"/> more information on f<span class="_ _2"/>air <span class="_ _2"/>value det<span class="_ _2"/>ermination, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ref<span class="_ _2"/>er <span class="_ _2"/>to Note 4<span class="_ _2"/>.6 Financial instruments by ca<span class="_ _2"/>tegory<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _2"/>– key<span class="_ _2"/> assumptions sensitivity</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Using the discount<span class="_ _2"/> ra<span class="_ _2"/>te as of 31 December<span class="_ _2"/> 2023 and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">keeping al<span class="_ _2"/>l other assumptions c<span class="_ _2"/>onstant, <span class="_ _2"/>the Ocean CGU </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">showed headroom<span class="_ _2"/> of USD 3<span class="_ _2"/>.9bn betw<span class="_ _2"/>een the <span class="_ _2"/>value in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">use and the carrying amount.<span class="_ _2"/> <span class="_ _2"/>The following changes<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in assumptions reflect<span class="_ _2"/> the r<span class="_ _2"/>elated impact<span class="_ _2"/> on the <span class="_ _2"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in use and thus <span class="_ _2"/>the headroom f<span class="_ _2"/>or<span class="_ _2"/> the Ocean C<span class="_ _2"/>GU<span class="_ _2"/>.<span class="_ _2"/> <span class="_ _2"/>The </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sensitivities are pr<span class="_ _2"/>epared with<span class="_ _2"/> all other<span class="_ _2"/> assumptions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">kept constant.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:54.75px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 557.203px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">K<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ey Ocean CGU assumption<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 158.039px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Assumption<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Change<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 14.6074px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Effect<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> on <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>value in use</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 23.8418px; width: 557.156px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Growth in<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> terminal period<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.306px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2.7%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7949px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>+/<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>- 0.5 ppts<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.3886px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD 2.9bn</span><span style="position: absolute; display: inline-block; left: 0px; top: 44.2637px; width: 556.869px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Discount r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate p.a. bef<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ore <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tax as of 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9.2%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>+/- 0.5 ppts<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD 3.4bn</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Intangible assets<span class="ff3"> are measur<span class="_ _2"/>ed at cost<span class="_ _2"/> less accumulated </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortisation and impairment<span class="_ _2"/> losses.<span class="_ _2"/> Amortisation is cal-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">culated on a str<span class="_ _2"/>aight<span class="_ _2"/>-line basis over<span class="_ _2"/> <span class="_ _2"/>the estimated useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">life of the as<span class="_ _2"/>sets. For<span class="_ _0"/> container <span class="_ _2"/>terminals oper<span class="_ _2"/>ated under<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">certain restrictiv<span class="_ _2"/>e price and service conditions,<span class="_ _2"/> etc.,<span class="_ _2"/> con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cessional rights t<span class="_ _2"/>o collect usage char<span class="_ _2"/>ges ar<span class="_ _2"/>e included un-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">der<span class="_ _2"/> intangible assets.<span class="_ _2"/> The cost<span class="_ _2"/> includes the pr<span class="_ _2"/>esent <span class="_ _2"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of minimum payments under<span class="_ _2"/> concession agr<span class="_ _2"/>eements and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the cost of pr<span class="_ _2"/>operty<span class="_ _2"/>,<span class="_ _2"/> plant and equipment<span class="_ _2"/> constructed on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">behalf of the gr<span class="_ _2"/>antor<span class="_ _0"/> of a concession. <span class="_ _2"/>The rights are am-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ortised from <span class="_ _2"/>the commencement o<span class="_ _2"/>f operations o<span class="_ _2"/>ver<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">concession period.<span class="_ _2"/> The conces<span class="_ _2"/>sion period rang<span class="_ _2"/>es from <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">10 to 34 years<span class="_ _2"/>, with<span class="_ _2"/> an aver<span class="_ _2"/>age of 17<span class="_ _2"/> years<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span><span><span style="display:inherit;clear:left;">Goodwill and t<span class="_ _2"/>erminal rights have indefinite useful </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives while all other<span class="_ _0"/> classes have definite lives.<span class="_ _2"/> Intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets re<span class="_ _2"/>garding acquir<span class="_ _2"/>ed customer<span class="_ _2"/> relationships and<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">technology ar<span class="_ _2"/>e amortised over<span class="_ _2"/> a useful lif<span class="_ _2"/>e of 10-24 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">years and 5-<span class="_ _2"/>10 <span class="_ _2"/>years,<span class="_ _2"/> respectivel<span class="_ _2"/>y<span class="_ _2"/>. In<span class="_ _2"/>ternally<span class="_ _2"/> developed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">IT<span class="_ _2"/> software is amortised o<span class="_ _2"/>ver<span class="_ _2"/> a useful life of 5 <span class="_ _2"/>years.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses<span class="ff3"> are r<span class="_ _2"/>ecognised when<span class="_ _2"/> the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an as<span class="_ _2"/>set or<span class="_ _2"/> a cash-gener<span class="_ _2"/>ating unit e<span class="_ _2"/>xceeds the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">higher<span class="_ _2"/> of the estimated <span class="_ _2"/>value in use and f<span class="_ _2"/>air <span class="_ _2"/>value less<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">costs of disposal. Goodwil<span class="_ _2"/>l is attributed <span class="_ _2"/>to cash- <span class="_ _4"/>generating </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">units on acquisition and impair<span class="_ _2"/>ed before other<span class="_ _0"/> assets. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Intangible assets and property<span class="_ _0"/>, plant and equipment<span class="_ _2"/> are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tested for<span class="_ _0"/> impairment if ther<span class="_ _2"/>e is an indication of impair<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment.<span class="_ _2"/> However<span class="_ _0"/>, annual impairment<span class="_ _2"/> tests ar<span class="_ _2"/>e carried out f<span class="_ _2"/>or </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">goodwill and other<span class="_ _2"/> intangible assets with inde<span class="_ _2"/>finite useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives as wel<span class="_ _2"/>l as intangible assets that<span class="_ _2"/> are not<span class="_ _2"/> yet<span class="_ _2"/> in use.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses ar<span class="_ _2"/>e included in deprecia<span class="_ _2"/>tion, amortisa-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion and impairment,<span class="_ _2"/> net, in <span class="_ _2"/>the income statement.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 3.<span class="_ _2"/>1 <span class="_ _1c7"> </span>Intangible assets</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:354.140625px;"><span style="position: absolute; display: inline-block; left: 210.562px; top: 0.0136718px; width: 119.912px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Goodwill<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 358.734px; top: 0.0136718px; width: 47.5488px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Customer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 431.109px; top: 0.0136718px; width: 50.8828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> incl. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 534px; top: 0.0136718px; width: 23.5195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 274.609px; top: 12.0137px; width: 55.1133px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">and service <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 342.25px; top: 12.0137px; width: 63.5684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">relationships </span><span style="position: absolute; display: inline-block; left: 427.766px; top: 12.0137px; width: 52.9863px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">IT<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> software</span><span style="position: absolute; display: inline-block; left: 275.953px; top: 24.0137px; width: 54.1699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">concession </span><span style="position: absolute; display: inline-block; left: 351.719px; top: 24.0137px; width: 52.5527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">and brands</span><span style="position: absolute; display: inline-block; left: 300.406px; top: 36.0137px; width: 27.4629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">rights</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.9961px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Cost</span><span style="position: absolute; display: inline-block; left: 0px; top: 75.5762px; width: 556.764px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.445px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">5,554<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,985<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,043<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,371<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,953</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 90.4668px; width: 557.033px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 201.931px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>183<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>204</span><span style="position: absolute; display: inline-block; left: 166.406px; top: 105.242px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 105.357px; width: 166.529px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions from acquir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed companies</span><span style="position: absolute; display: inline-block; left: 247px; top: 105.373px; width: 310.271px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14</span><span style="position: absolute; display: inline-block; left: 0px; top: 120.248px; width: 556.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>402<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>234<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>642</span><span style="position: absolute; display: inline-block; left: 0px; top: 135.139px; width: 557.174px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 87.1642px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-332<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-356</span><span style="position: absolute; display: inline-block; left: 0px; top: 150.029px; width: 556.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.268px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>70</span><span style="position: absolute; display: inline-block; left: 0px; top: 164.92px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,230<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,031<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,659<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,323<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>12,243</span><span style="position: absolute; display: inline-block; left: 0px; top: 195.027px; width: 162.439px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Amortisation and impairment losses</span><span style="position: absolute; display: inline-block; left: 0px; top: 209.607px; width: 556.752px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.412px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">349<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>824<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>491<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>504<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,168</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 224.482px; width: 557.004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Amortisation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 184.804px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>103<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>158<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>121<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>382</span><span style="position: absolute; display: inline-block; left: 0px; top: 239.373px; width: 556.734px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 159.639px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>299<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>23<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>322</span><span style="position: absolute; display: inline-block; left: 0px; top: 254.264px; width: 556.711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 201.931px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>402<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>79<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>481</span><span style="position: absolute; display: inline-block; left: 0px; top: 269.154px; width: 556.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 87.1642px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-279<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-297</span><span style="position: absolute; display: inline-block; left: 0px; top: 284.045px; width: 557.033px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 112.166px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25</span><span style="position: absolute; display: inline-block; left: 0px; top: 298.936px; width: 556.875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.185px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>69<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>937<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>542<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>571<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,119</span><span style="position: absolute; display: inline-block; left: 0px; top: 329.027px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carrying amount:</span><span style="position: absolute; display: inline-block; left: 327.891px; top: 343.539px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 374.859px; top: 343.654px; width: 105.434px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">2,117<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>752</span><span style="position: absolute; display: inline-block; left: 0px; top: 343.607px; width: 327.305px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,161<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,094</span><span style="position: absolute; display: inline-block; left: 521.297px; top: 343.654px; width: 35.5371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">10,124</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Acquisition of Martin Bencher<span class="_ _2"/> and Grindrod.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Of which USD 49m is under<span class="_ _2"/> developmen<span class="_ _2"/>t. USD 34m is r<span class="_ _2"/>elated <span class="_ _2"/>to terminal rights <span class="_ _2"/>with indefinite useful lives </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in Poti Sea Port<span class="_ _2"/> Corp. Service conc<span class="_ _2"/>ession rights with a carrying amount<span class="_ _2"/> of USD 70m ha<span class="_ _2"/>ve restricted <span class="_ _2"/>title.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Of which USD 162m is related <span class="_ _2"/>to ongoing development<span class="_ _2"/> of softwar<span class="_ _2"/>e. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:383.9375px;"><span style="position: absolute; display: inline-block; left: 210.562px; top: 0.0136718px; width: 119.912px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Goodwill<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 359.719px; top: 0.0136718px; width: 47.5488px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Customer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 431.828px; top: 0.0136718px; width: 50.8828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> incl. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 534.188px; top: 0.0136718px; width: 23.5195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 274.25px; top: 12.0137px; width: 55.1133px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">and service <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 342.75px; top: 12.0137px; width: 63.5684px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">relationships </span><span style="position: absolute; display: inline-block; left: 428.422px; top: 12.0137px; width: 52.9863px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">IT<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> software</span><span style="position: absolute; display: inline-block; left: 275.266px; top: 24.0137px; width: 54.1699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">concession </span><span style="position: absolute; display: inline-block; left: 351.047px; top: 24.0137px; width: 52.5527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">and brands</span><span style="position: absolute; display: inline-block; left: 299.969px; top: 36.0137px; width: 27.4629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">rights</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.9961px; width: 18.3809px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Cost</span><span style="position: absolute; display: inline-block; left: 0px; top: 75.5762px; width: 556.764px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2022<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.445px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1,928<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,132<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,579<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,205<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,844</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 90.4668px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.306px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>324<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>349</span><span style="position: absolute; display: inline-block; left: 165.828px; top: 105.242px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 105.357px; width: 166.529px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions from acquir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed companies</span><span style="position: absolute; display: inline-block; left: 221.781px; top: 105.373px; width: 334.928px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">3,667<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,474<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>213<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,354</span><span style="position: absolute; display: inline-block; left: 0px; top: 120.248px; width: 556.729px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.306px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>352<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>352</span><span style="position: absolute; display: inline-block; left: 0px; top: 135.139px; width: 559.494px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 62.6542px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 150.029px; width: 557.238px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 103.816px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-104<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-103</span><span style="position: absolute; display: inline-block; left: 0px; top: 164.92px; width: 557.098px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 105.586px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-41<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-64<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-24<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-139</span><span style="position: absolute; display: inline-block; left: 0px; top: 179.811px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,554<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,985<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,043<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,371<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>12,953</span><span style="position: absolute; display: inline-block; left: 0px; top: 209.918px; width: 162.439px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Amortisation and impairment losses</span><span style="position: absolute; display: inline-block; left: 0px; top: 224.482px; width: 556.752px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2022<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.412px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">367<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>794<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>324<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>590<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,075</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 239.373px; width: 556.969px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Amortisation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 182.338px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>110<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>147<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>108<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>365</span><span style="position: absolute; display: inline-block; left: 0px; top: 254.264px; width: 556.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.412px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>32<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>68</span><span style="position: absolute; display: inline-block; left: 0px; top: 269.154px; width: 556.729px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.306px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>221<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>221</span><span style="position: absolute; display: inline-block; left: 0px; top: 284.045px; width: 559.494px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 62.6542px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 298.936px; width: 556.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 103.816px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-79<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-78</span><span style="position: absolute; display: inline-block; left: 0px; top: 313.826px; width: 557.051px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 105.586px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-18<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-41</span><span style="position: absolute; display: inline-block; left: 0px; top: 328.717px; width: 556.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.033px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>349<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>824<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>491<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>504<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,168</span><span style="position: absolute; display: inline-block; left: 0px; top: 358.809px; width: 78.1758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carrying amount:</span><span style="position: absolute; display: inline-block; left: 327.406px; top: 373.32px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 374.75px; top: 373.451px; width: 105.434px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">2,552<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>867</span><span style="position: absolute; display: inline-block; left: 0px; top: 373.389px; width: 327.305px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,205<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,161</span><span style="position: absolute; display: inline-block; left: 521.891px; top: 373.451px; width: 35.5371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">10,785</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Acquisition of LF<span class="_ _2"/> Logistics,<span class="_ _2"/> Pilot, Senat<span class="_ _2"/>or In<span class="_ _2"/>ternational and ResQ.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Of which USD 38m is under<span class="_ _2"/> developmen<span class="_ _2"/>t. USD 34m is r<span class="_ _2"/>elated <span class="_ _2"/>to terminal rights <span class="_ _2"/>with indefinite useful lives in Poti Sea P<span class="_ _2"/>ort Corp.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Service concession rights with a<span class="_ _2"/> carrying amount of USD 7<span class="_ _2"/>0m have restrict<span class="_ _2"/>ed title.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Of which USD 141m is related <span class="_ _2"/>to ongoing development<span class="_ _2"/> of softwar<span class="_ _2"/>e.</span></span> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:129.1875px;"><span style="position: absolute; display: inline-block; left: 428.422px; top: 0.0136718px; width: 121.518px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Goodwill carrying amount</span><span style="position: absolute; display: inline-block; left: 0px; top: 23.8418px; width: 556.699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Operating se<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>gment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>Cash-gener<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ating unit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 204.533px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 48.5137px; width: 559.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 119.918px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Ocean <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 280.852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>316<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 316 </span><span style="position: absolute; display: inline-block; left: 0px; top: 62.5605px; width: 559.652px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Logistics &amp; Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.9511px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Logistics &amp; Services <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 207.832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,599<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 4,582 </span><span style="position: absolute; display: inline-block; left: 0px; top: 76.5918px; width: 148.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 103.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 148.951px; top: 76.5918px; width: 410.771px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Multiple t<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminals <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 223.558px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">241<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 248 </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 90.623px; width: 559.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owage &amp; Maritime Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.2304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ow<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>age – Port <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owage <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>Amster<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>dam and Others<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 109.43px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 58 </span><span style="position: absolute; display: inline-block; left: 0px; top: 104.67px; width: 559.57px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 449.501px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 1 </span><span style="position: absolute; display: inline-block; left: 0px; top: 118.701px; width: 559.266px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 426.675px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,161<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 5,205 </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:116px;"><span style="position: absolute; display: inline-block; left: 445.703px; top: 0.0136718px; width: 86.6836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Operating se<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>gment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 99.3457px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>Cash-genera<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ting unit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 162.451px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span></span><span style="position: absolute; display: inline-block; left: 480.969px; top: 49.2266px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 482.93px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 162.451px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 238.213px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 319 </span><span style="position: absolute; display: inline-block; left: 541.562px; top: 49.3574px; width: 18.0234px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> 28 </span><span style="position: absolute; display: inline-block; left: 480.969px; top: 63.2734px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 63.4043px; width: 482.801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Logistics &amp; Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 98.8946px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Logistics &amp; Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 187.319px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 2 </span><span style="position: absolute; display: inline-block; left: 541.562px; top: 63.4043px; width: 18.0234px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> 21 </span><span style="position: absolute; display: inline-block; left: 0px; top: 77.4355px; width: 191.338px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.77px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 191.338px; top: 77.4355px; width: 368.291px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">V<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>arious terminals<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 17 </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 91.4824px; width: 559.441px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owage &amp; Maritime Services<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Maersk Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> Industry<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.914px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 1 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.7989px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 2 </span><span style="position: absolute; display: inline-block; left: 0px; top: 105.514px; width: 559.014px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 434.07px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 322 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 68 </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span><span class="ws0">On 27<span class="_ _2"/> January 2023<span class="_ _2"/>, it<span class="_ _2"/> was announced <span class="_ _2"/>that <span class="_ _2"/>the Group would mov<span class="_ _2"/>e tow<span class="_ _2"/>ards a singular<span class="_ _2"/> and unified brand b<span class="_ _2"/>y integr<span class="_ _2"/>ating <span class="_ _2"/>the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _3"/>. Moller<span class="_ _2"/> - Maersk br<span class="_ _2"/>ands. Existing br<span class="_ _2"/>ands wer<span class="_ _2"/>e retir<span class="_ _2"/>ed during Q1 2023,<span class="_ _2"/> resulting in<span class="_ _2"/> the reco<span class="_ _2"/>gnition of impairment losses of <span class="_ _2"/>the full </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">carrying amount of each r<span class="_ _2"/>espective retir<span class="_ _2"/>ed brand on <span class="_ _2"/>the balance sheet. <span class="_ _2"/>T<span class="_ _0"/>otal impairment losses rela<span class="_ _2"/>ted to <span class="_ _2"/>the retiremen<span class="_ _2"/>t of br<span class="_ _2"/>ands in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2023 <span class="_ _1"/>recognis<span class="_ _1"/>ed i<span class="_ _1"/>n the income statement is USD 299m,<span class="_ _2"/> of which USD 297<span class="_ _2"/>m is within Ocean<span class="_ _2"/> and USD 2m is within Logistics &amp; Services<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"> </span> <span class="_ _a"/>SIGNIFICANT<span class="_ _2"/> ACCOUNTING ESTIMA<span class="_ _2"/>TES AND<span class="_ _2"/> JUDGEMENTS </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Significant accounting judg<span class="_ _2"/>ements</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Determination of<span class="_ _2"/> cash-generating units</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Judgement is applied in<span class="_ _2"/> the determination<span class="_ _2"/> of cash- </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gener<span class="_ _2"/>ating units to <span class="_ _2"/>which goodwill is alloca<span class="_ _2"/>ted for<span class="_ _2"/> impair-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment <span class="_ _2"/>testing and in <span class="_ _2"/>the selection of methodologies and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assumptions applied in impairment <span class="_ _2"/>tests.<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The determination of cash-gener<span class="_ _2"/>ating units diff<span class="_ _2"/>ers </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on the business ar<span class="_ _2"/>ea. Oc<span class="_ _2"/>ean opera<span class="_ _2"/>tes its fleet of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">container<span class="_ _2"/> vessels and hub <span class="_ _2"/>terminals in an in<span class="_ _2"/>tegr<span class="_ _2"/>ated <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">net <span class="_ _4"/>work. Consequently<span class="_ _0"/>, the Oc<span class="_ _2"/>ean activities are <span class="_ _2"/>tested </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _2"/> impairment as a<span class="_ _2"/> single cash-genera<span class="_ _2"/>ting unit. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Logistics &amp; Services,<span class="_ _2"/> including intermodal activities,<span class="_ _2"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considered a single cash-g<span class="_ _2"/>enerating unit.<span class="_ _2"/> Management<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">views the Lo<span class="_ _2"/>gistics &amp; Services products as an int<span class="_ _2"/>egr<span class="_ _2"/>ated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">network, <span class="_ _2"/>with the activities <span class="_ _2"/>tested for<span class="_ _0"/> impairment as a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">single cash-gener<span class="_ _2"/>ating unit. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In <span class="_ _2"/>T<span class="_ _0"/>erminals, each <span class="_ _2"/>terminal is considered an<span class="_ _2"/> individual </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash-gener<span class="_ _2"/>ating unit for<span class="_ _0"/> impairment tests<span class="_ _2"/>, exc<span class="_ _2"/>ept when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the capacity is managed as a portf<span class="_ _2"/>olio.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>T<span class="_ _0"/>owage &amp; Maritime Services includes <span class="_ _2"/>towage activi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ties made up of two separ<span class="_ _2"/>ate cash-gener<span class="_ _0"/>ating units as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">well as sever<span class="_ _2"/>al individual businesses,<span class="_ _2"/> including Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Container<span class="_ _2"/> Industry<span class="_ _2"/>,<span class="_ _2"/> which are each<span class="_ _2"/> considered one </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash-gener<span class="_ _2"/>ating unit.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Significant accounting estima<span class="_ _2"/>tes</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _2"/>– assessment inputs</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The recov<span class="_ _2"/>erable amount<span class="_ _2"/> of each cash-gener<span class="_ _2"/>ating unit<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is determined based on <span class="_ _2"/>the higher of its <span class="_ _2"/>value in use and<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _2"/> v<span class="_ _2"/>alue less costs to sel<span class="_ _2"/>l. <span class="_ _2"/>The estimated <span class="_ _2"/>value in use<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is calculated using certain k<span class="_ _2"/>ey as<span class="_ _2"/>sumptions for<span class="_ _2"/> the ex<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pected future cash<span class="_ _2"/> flows and applied discount f<span class="_ _2"/>actor<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Curren<span class="_ _2"/>t mark<span class="_ _2"/>et v<span class="_ _2"/>alues for<span class="_ _2"/> v<span class="_ _2"/>essels,<span class="_ _2"/> etc., ar<span class="_ _2"/>e estimated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">using acknowledged brok<span class="_ _2"/>ers.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The cash flow pr<span class="_ _2"/>ojections are based on financial<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">budgets and business plans.<span class="_ _2"/> In natur<span class="_ _2"/>e, <span class="_ _2"/>these projections<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are subject<span class="_ _2"/> to judgemen<span class="_ _2"/>t and estimates <span class="_ _2"/>that ar<span class="_ _2"/>e uncer<span class="_ _2"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tain, <span class="_ _2"/>though based on experience and ext<span class="_ _2"/>ernal sources </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">where av<span class="_ _2"/>ailable.<span class="_ _2"/> Centralised pr<span class="_ _2"/>ocesses and invol<span class="_ _2"/>vement<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of corpor<span class="_ _2"/>ate functions ensure <span class="_ _2"/>that indices and da<span class="_ _2"/>ta </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sources ar<span class="_ _2"/>e selected consistentl<span class="_ _2"/>y while observing diff<span class="_ _2"/>er<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ences in risks and other<span class="_ _2"/> circumstances<span class="_ _2"/>.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The discount r<span class="_ _2"/>ates applied r<span class="_ _2"/>eflect <span class="_ _2"/>the time <span class="_ _2"/>value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">money as <span class="_ _2"/>well as the specific risks r<span class="_ _2"/>elated <span class="_ _2"/>to the under<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lying cash flows<span class="_ _2"/>, i.e<span class="_ _2"/>., pr<span class="_ _2"/>oject and/<span class="_ _0"/>or country<span class="_ _2"/>-specific risk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">premium.<span class="_ _2"/> Further<span class="_ _0"/>, any<span class="_ _2"/> uncertainties r<span class="_ _2"/>eflecting past per<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">formance and possible <span class="_ _2"/>variations in <span class="_ _2"/>the amount or<span class="_ _2"/> <span class="_ _2"/>timing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the pr<span class="_ _2"/>ojected cash flows ar<span class="_ _2"/>e gener<span class="_ _2"/>ally<span class="_ _2"/> reflected in <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">discount r<span class="_ _2"/>ates<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _2"/>– key<span class="_ _2"/> assumptions applied </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The outcome of impairment<span class="_ _2"/> tests is subject<span class="_ _2"/> to estima<span class="_ _2"/>tes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the futur<span class="_ _2"/>e development<span class="_ _2"/> of freight<span class="_ _2"/> rat<span class="_ _2"/>es and volumes,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">oil prices and the discount<span class="_ _2"/> r<span class="_ _2"/>ates applied.<span class="_ _2"/> Management </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">determines these k<span class="_ _2"/>ey<span class="_ _2"/> assumptions by considering past<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">experience as wel<span class="_ _2"/>l as market<span class="_ _2"/> analysis and futur<span class="_ _2"/>e expec<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tations based on supply<span class="_ _2"/> and demand tr<span class="_ _2"/>ends.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Further<span class="_ _0"/>, <span class="_ _2"/>the value in use calcula<span class="_ _2"/>tion is highly sensitiv<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the <span class="_ _2"/>terminal gr<span class="_ _2"/>owth ra<span class="_ _2"/>te,<span class="_ _2"/> which is determined based on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the future expect<span class="_ _2"/>ed economic growth r<span class="_ _2"/>ate<span class="_ _2"/>, and r<span class="_ _2"/>eplace-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment CAPEX during <span class="_ _2"/>the terminal period,<span class="_ _2"/> which is det<span class="_ _2"/>er-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mined based on Management’<span class="_ _2"/>s plans and expectations </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _2"/> the future.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The future development<span class="_ _2"/> in fr<span class="_ _2"/>eight r<span class="_ _2"/>ates is a significant<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">factor<span class="_ _2"/> impacting <span class="_ _2"/>the Ocean segment<span class="_ _2"/> in particular<span class="_ _2"/> and is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">influenced by r<span class="_ _2"/>egional and global economic envir<span class="_ _2"/>onments,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trade pa<span class="_ _2"/>tterns,<span class="_ _2"/> and by industry<span class="_ _2"/>-specific tr<span class="_ _2"/>ends in r<span class="_ _2"/>espect </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of capacity suppl<span class="_ _2"/>y and demand.<span class="_ _2"/> Freight<span class="_ _2"/> rat<span class="_ _2"/>es have dete-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">riora<span class="_ _2"/>ted thr<span class="_ _2"/>oughout 2023 as a r<span class="_ _2"/>esult of <span class="_ _2"/>the pronounced </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market<span class="_ _2"/> normalisation and are e<span class="_ _2"/>xpected t<span class="_ _2"/>o face continued </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pressur<span class="_ _2"/>e for<span class="_ _2"/> the next<span class="_ _2"/> 1-2 y<span class="_ _2"/>ears. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The future dev<span class="_ _2"/>elopment of oil prices is also uncertain </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and is a significant f<span class="_ _2"/>actor<span class="_ _2"/> impacting accounting estimates </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">across <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk,<span class="_ _2"/> either<span class="_ _2"/> directly<span class="_ _2"/> or<span class="_ _2"/> indirectly<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ocean is directl<span class="_ _2"/>y impacted b<span class="_ _2"/>y the bunk<span class="_ _2"/>er<span class="_ _2"/> oil price,<span class="_ _2"/> wher<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the competitive landscape determines <span class="_ _2"/>the extent<span class="_ _2"/> to which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the development<span class="_ _2"/> is reflected in<span class="_ _2"/> the freight<span class="_ _2"/> r<span class="_ _2"/>ates charg<span class="_ _2"/>ed to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the customer<span class="_ _0"/>. Bunk<span class="_ _2"/>er<span class="_ _2"/> consumption is expected <span class="_ _2"/>to continue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to decline compared <span class="_ _2"/>to 2023<span class="_ _2"/>, driv<span class="_ _2"/>en by fleet<span class="_ _2"/> outsourcing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and efficiency impr<span class="_ _2"/>ovements.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Logistics &amp; Services is impacted by<span class="_ _2"/> ra<span class="_ _2"/>tes and volumes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">across <span class="_ _2"/>the Logistics &amp; Services product<span class="_ _2"/> lines,<span class="_ _2"/> particularly </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the air<span class="_ _0"/> and haulage business. <span class="_ _2"/>The future gr<span class="_ _2"/>owth and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">productivity<span class="_ _2"/> of the Ful<span class="_ _2"/>filled by Maersk pr<span class="_ _2"/>oduct r<span class="_ _2"/>ange is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">also considered a k<span class="_ _2"/>ey<span class="_ _2"/> assumption as volumes ar<span class="_ _2"/>e sensitive </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the de<span class="_ _2"/>velopment of <span class="_ _2"/>the global economy<span class="_ _0"/>. Management </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considers both the futur<span class="_ _2"/>e economic outlook in k<span class="_ _2"/>ey r<span class="_ _2"/>egions,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">namely North<span class="_ _2"/> America and Eur<span class="_ _2"/>ope,<span class="_ _2"/> as well as e<span class="_ _2"/>xpected </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">synergies fr<span class="_ _2"/>om completed acquisitions <span class="_ _2"/>when determining </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the growth and pr<span class="_ _2"/>oductivity of F<span class="_ _2"/>ulfilled by<span class="_ _2"/> Maersk. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>T<span class="_ _0"/>erminals located in oil-producing coun<span class="_ _2"/>tries, e<span class="_ _2"/>.g., </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Nigeria and Br<span class="_ _2"/>azil, ar<span class="_ _2"/>e indirectl<span class="_ _2"/>y impacted by<span class="_ _2"/> the de<span class="_ _2"/>velop-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment in oil pric<span class="_ _2"/>es and the consequences for<span class="_ _0"/> the respective </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">countries’<span class="_ _0"/> economies, <span class="_ _2"/>which not only<span class="_ _2"/> affects <span class="_ _2"/>volumes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">handled in the <span class="_ _2"/>terminals,<span class="_ _2"/> but also f<span class="_ _2"/>oreign ex<span class="_ _2"/>change rat<span class="_ _2"/>es.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Continued economic deterior<span class="_ _2"/>ation and a lack of cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">repatriation<span class="_ _2"/> opportunities in certain oil-producing c<span class="_ _2"/>oun-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tries could also put pr<span class="_ _2"/>essure on <span class="_ _2"/>the carrying amounts of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">individual terminals<span class="_ _2"/>. <span class="_ _2"/>The other<span class="_ _2"/> ke<span class="_ _2"/>y sensitivities impacting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>erminals include container mo<span class="_ _2"/>ves,<span class="_ _2"/> rev<span class="_ _2"/>enue and cost per<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">move,<span class="_ _2"/> and local port r<span class="_ _2"/>ates<span class="_ _2"/>, al<span class="_ _2"/>l of which are impact<span class="_ _2"/>ed by </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the local economic outlook and competition,<span class="_ _2"/> as well as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">concession right<span class="_ _2"/> extensions and the discoun<span class="_ _2"/>t r<span class="_ _2"/>ate applied.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Inflation is also expected <span class="_ _2"/>to continue <span class="_ _2"/>to have a high </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impact acr<span class="_ _2"/>oss A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler - Maersk in<span class="_ _2"/> 2024,<span class="_ _2"/> impacting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">both the discoun<span class="_ _2"/>t r<span class="_ _2"/>ate and t<span class="_ _2"/>erminal growth r<span class="_ _2"/>ates<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _2"/>– results of<span class="_ _2"/> impairment assessments</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Ocean cash flow pr<span class="_ _2"/>ojection is based on the f<span class="_ _2"/>orecast<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as per<span class="_ _2"/> Q3 2023,<span class="_ _2"/> covering <span class="_ _2"/>the five-<span class="_ _2"/>year<span class="_ _2"/> business plan for<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2024-28<span class="_ _2"/>. Manag<span class="_ _2"/>ement applied an assumption<span class="_ _2"/> of growth </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in volumes based on<span class="_ _2"/> a calculated <span class="_ _2"/>terminal v<span class="_ _2"/>alue with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">growth equal <span class="_ _2"/>to 2.<span class="_ _2"/>7% (2.5%) p.a.<span class="_ _2"/> In the annual impairmen<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">test carried out<span class="_ _2"/> in November<span class="_ _0"/> 2023, a pr<span class="_ _2"/>e-<span class="_ _2"/>tax discount </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _2"/>te of 9.8% (9<span class="_ _2"/>.2%) p.a.<span class="_ _2"/> w<span class="_ _2"/>as applied. <span class="_ _2"/>The impairment <span class="_ _2"/>test </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">showed headroom<span class="_ _2"/> between the <span class="_ _2"/>value in use and <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">carrying amount.<span class="_ _2"/> The major<span class="_ _2"/> part o<span class="_ _2"/>f the carrying amount<span class="_ _2"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprised of vessels<span class="_ _2"/>. Manag<span class="_ _2"/>ement is of <span class="_ _2"/>the opinion that<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the assumptions applied are sustainable.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The Group’<span class="_ _0"/>s most significant goodwill c<span class="_ _2"/>omponent </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">relat<span class="_ _2"/>es to <span class="_ _2"/>the Logistics &amp; Services segment.<span class="_ _2"/> <span class="_ _2"/>The annual </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment <span class="_ _2"/>test is based on<span class="_ _2"/> the estimated <span class="_ _2"/>value in use<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">from <span class="_ _2"/>the five-<span class="_ _2"/>year<span class="_ _2"/> business plan for<span class="_ _2"/> 202<span class="_ _2"/>4-28,<span class="_ _2"/> wher<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the volume and impr<span class="_ _2"/>oved mar<span class="_ _2"/>gin growth assumptions<span class="_ _2"/>,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which are r<span class="_ _2"/>egion-specific,<span class="_ _2"/> reflect<span class="_ _2"/> the curr<span class="_ _2"/>ent expec<span class="_ _0"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tations for<span class="_ _2"/> the r<span class="_ _2"/>elevan<span class="_ _2"/>t period.<span class="_ _2"/> The applied <span class="_ _2"/>terminal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">growth is 2.<span class="_ _0"/>7% (2.0%). <span class="_ _2"/>A discount<span class="_ _2"/> ra<span class="_ _2"/>te of 9<span class="_ _2"/>.0% (8.4%) p<span class="_ _2"/>.a. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">befor<span class="_ _2"/>e tax or<span class="_ _2"/> 8<span class="_ _2"/>.8% (8.2%) p.a.<span class="_ _2"/> after<span class="_ _2"/> <span class="_ _2"/>tax was applied.<span class="_ _2"/> The<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impa<span class="_ _1"/>irment test<span class="_ _2"/> showed headr<span class="_ _2"/>oom from <span class="_ _2"/>the v<span class="_ _2"/>alue in use </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the carrying amoun<span class="_ _2"/>t. Management<span class="_ _2"/> is of the opinion<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tha<span class="_ _2"/>t <span class="_ _2"/>the <span class="_ _2"/>assumptions applied are sustainable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>In <span class="_ _2"/>T<span class="_ _0"/>erminals, Managemen<span class="_ _2"/>t assesses indicators o<span class="_ _2"/>f </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impairment including decr<span class="_ _2"/>easing volumes and based on<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">these indicators,<span class="_ _2"/> estimates <span class="_ _2"/>the recov<span class="_ _2"/>erable amounts<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the individual <span class="_ _2"/>terminals wher<span class="_ _2"/>eby impairment<span class="_ _2"/> indi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cators exist.<span class="_ _2"/> Management<span class="_ _2"/> also tests f<span class="_ _2"/>or impairmen<span class="_ _2"/>t of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the CGUs to <span class="_ _2"/>which goodwill or<span class="_ _2"/> indefinite lif<span class="_ _2"/>e intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets are al<span class="_ _2"/>located.<span class="_ _2"/> The cash flow pr<span class="_ _2"/>ojections for<span class="_ _2"/> each </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">terminal cover<span class="_ _0"/> the concession period and extension<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">options deemed likel<span class="_ _2"/>y t<span class="_ _2"/>o be exercised.<span class="_ _2"/> <span class="_ _2"/>The growth<span class="_ _2"/> rat<span class="_ _2"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assumed reflect<span class="_ _2"/> current<span class="_ _2"/> market<span class="_ _2"/> expectations for<span class="_ _0"/> the rel<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">evant<span class="_ _2"/> period, and <span class="_ _2"/>the discount<span class="_ _2"/> rat<span class="_ _2"/>es applied are between<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">7<span class="_ _0"/>.4% and 12.<span class="_ _0"/>1% (7<span class="_ _0"/>.2% and 13.0%) p.a.<span class="_ _2"/> after<span class="_ _0"/> tax. <span class="_ _2"/>The im<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pairment <span class="_ _2"/>tests considered f<span class="_ _2"/>air<span class="_ _2"/> value les<span class="_ _2"/>s cost of disposal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">compared <span class="_ _2"/>to the carrying amount<span class="_ _2"/> and resul<span class="_ _2"/>ted in im<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pairment losses of USD<span class="_ _2"/> 134m across mul<span class="_ _2"/>tiple terminals<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in 2023<span class="_ _2"/>, of which<span class="_ _2"/> USD 94m rela<span class="_ _2"/>tes to a<span class="_ _2"/> CGU in the Medi<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">terr<span class="_ _2"/>anean, caused by<span class="_ _2"/> lower<span class="_ _2"/>-than-e<span class="_ _2"/>xpected volumes<span class="_ _2"/>, and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is primarily r<span class="_ _2"/>elated <span class="_ _2"/>to equipment.<span class="_ _2"/> Impairment losses of<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">an immaterial amount<span class="_ _2"/> across <span class="_ _2"/>two t<span class="_ _2"/>erminals was r<span class="_ _2"/>ecog<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nise<span class="_ _1"/>d in<span class="_ _1"/> 202<span class="_ _1"/>2 as<span class="_ _1"/> well <span class="_ _1"/>as USD 350m on <span class="_ _2"/>T<span class="_ _0"/>erminals’<span class="_ _0"/> minority </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">stake in Global P<span class="_ _2"/>orts Investments (GPI),<span class="_ _2"/> which w<span class="_ _2"/>as sold in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2022. For<span class="_ _0"/> more information on f<span class="_ _2"/>air <span class="_ _2"/>value det<span class="_ _2"/>ermination, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ref<span class="_ _2"/>er <span class="_ _2"/>to Note 4<span class="_ _2"/>.6 Financial instruments by ca<span class="_ _2"/>tegory<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment <span class="_ _2"/>– key<span class="_ _2"/> assumptions sensitivity</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Using the discount<span class="_ _2"/> ra<span class="_ _2"/>te as of 31 December<span class="_ _2"/> 2023 and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">keeping al<span class="_ _2"/>l other assumptions c<span class="_ _2"/>onstant, <span class="_ _2"/>the Ocean CGU </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">showed headroom<span class="_ _2"/> of USD 3<span class="_ _2"/>.9bn betw<span class="_ _2"/>een the <span class="_ _2"/>value in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">use and the carrying amount.<span class="_ _2"/> <span class="_ _2"/>The following changes<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in assumptions reflect<span class="_ _2"/> the r<span class="_ _2"/>elated impact<span class="_ _2"/> on the <span class="_ _2"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in use and thus <span class="_ _2"/>the headroom f<span class="_ _2"/>or<span class="_ _2"/> the Ocean C<span class="_ _2"/>GU<span class="_ _2"/>.<span class="_ _2"/> <span class="_ _2"/>The </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sensitivities are pr<span class="_ _2"/>epared with<span class="_ _2"/> all other<span class="_ _2"/> assumptions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">kept constant.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:54.75px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 557.203px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">K<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ey Ocean CGU assumption<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 158.039px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Assumption<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Change<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 14.6074px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Effect<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> on <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>value in use</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 23.8418px; width: 557.156px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Growth in<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> terminal period<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 199.306px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2.7%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7949px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>+/<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>- 0.5 ppts<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.3886px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD 2.9bn</span><span style="position: absolute; display: inline-block; left: 0px; top: 44.2637px; width: 556.869px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Discount r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate p.a. bef<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ore <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tax as of 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9.2%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>+/- 0.5 ppts<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD 3.4bn</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Intangible assets<span class="ff3"> are measur<span class="_ _2"/>ed at cost<span class="_ _2"/> less accumulated </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortisation and impairment<span class="_ _2"/> losses.<span class="_ _2"/> Amortisation is cal-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">culated on a str<span class="_ _2"/>aight<span class="_ _2"/>-line basis over<span class="_ _2"/> <span class="_ _2"/>the estimated useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">life of the as<span class="_ _2"/>sets. For<span class="_ _0"/> container <span class="_ _2"/>terminals oper<span class="_ _2"/>ated under<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">certain restrictiv<span class="_ _2"/>e price and service conditions,<span class="_ _2"/> etc.,<span class="_ _2"/> con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cessional rights t<span class="_ _2"/>o collect usage char<span class="_ _2"/>ges ar<span class="_ _2"/>e included un-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">der<span class="_ _2"/> intangible assets.<span class="_ _2"/> The cost<span class="_ _2"/> includes the pr<span class="_ _2"/>esent <span class="_ _2"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of minimum payments under<span class="_ _2"/> concession agr<span class="_ _2"/>eements and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the cost of pr<span class="_ _2"/>operty<span class="_ _2"/>,<span class="_ _2"/> plant and equipment<span class="_ _2"/> constructed on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">behalf of the gr<span class="_ _2"/>antor<span class="_ _0"/> of a concession. <span class="_ _2"/>The rights are am-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ortised from <span class="_ _2"/>the commencement o<span class="_ _2"/>f operations o<span class="_ _2"/>ver<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">concession period.<span class="_ _2"/> The conces<span class="_ _2"/>sion period rang<span class="_ _2"/>es from <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">10 to 34 years<span class="_ _2"/>, with<span class="_ _2"/> an aver<span class="_ _2"/>age of 17<span class="_ _2"/> years<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span><span><span style="display:inherit;clear:left;">Goodwill and t<span class="_ _2"/>erminal rights have indefinite useful </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives while all other<span class="_ _0"/> classes have definite lives.<span class="_ _2"/> Intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets re<span class="_ _2"/>garding acquir<span class="_ _2"/>ed customer<span class="_ _2"/> relationships and<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">technology ar<span class="_ _2"/>e amortised over<span class="_ _2"/> a useful lif<span class="_ _2"/>e of 10-24 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">years and 5-<span class="_ _2"/>10 <span class="_ _2"/>years,<span class="_ _2"/> respectivel<span class="_ _2"/>y<span class="_ _2"/>. In<span class="_ _2"/>ternally<span class="_ _2"/> developed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">IT<span class="_ _2"/> software is amortised o<span class="_ _2"/>ver<span class="_ _2"/> a useful life of 5 <span class="_ _2"/>years.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses<span class="ff3"> are r<span class="_ _2"/>ecognised when<span class="_ _2"/> the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an as<span class="_ _2"/>set or<span class="_ _2"/> a cash-gener<span class="_ _2"/>ating unit e<span class="_ _2"/>xceeds the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">higher<span class="_ _2"/> of the estimated <span class="_ _2"/>value in use and f<span class="_ _2"/>air <span class="_ _2"/>value less<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">costs of disposal. Goodwil<span class="_ _2"/>l is attributed <span class="_ _2"/>to cash- <span class="_ _4"/>generating </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">units on acquisition and impair<span class="_ _2"/>ed before other<span class="_ _0"/> assets. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Intangible assets and property<span class="_ _0"/>, plant and equipment<span class="_ _2"/> are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tested for<span class="_ _0"/> impairment if ther<span class="_ _2"/>e is an indication of impair<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment.<span class="_ _2"/> However<span class="_ _0"/>, annual impairment<span class="_ _2"/> tests ar<span class="_ _2"/>e carried out f<span class="_ _2"/>or </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">goodwill and other<span class="_ _2"/> intangible assets with inde<span class="_ _2"/>finite useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives as wel<span class="_ _2"/>l as intangible assets that<span class="_ _2"/> are not<span class="_ _2"/> yet<span class="_ _2"/> in use.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses ar<span class="_ _2"/>e included in deprecia<span class="_ _2"/>tion, amortisa-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion and impairment,<span class="_ _2"/> net, in <span class="_ _2"/>the income statement.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Intangible assets<span class="ff3"> are measur<span class="_ _2"/>ed at cost<span class="_ _2"/> less accumulated </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortisation and impairment<span class="_ _2"/> losses.<span class="_ _2"/> Amortisation is cal-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">culated on a str<span class="_ _2"/>aight<span class="_ _2"/>-line basis over<span class="_ _2"/> <span class="_ _2"/>the estimated useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">life of the as<span class="_ _2"/>sets. For<span class="_ _0"/> container <span class="_ _2"/>terminals oper<span class="_ _2"/>ated under<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">certain restrictiv<span class="_ _2"/>e price and service conditions,<span class="_ _2"/> etc.,<span class="_ _2"/> con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cessional rights t<span class="_ _2"/>o collect usage char<span class="_ _2"/>ges ar<span class="_ _2"/>e included un-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">der<span class="_ _2"/> intangible assets.<span class="_ _2"/> The cost<span class="_ _2"/> includes the pr<span class="_ _2"/>esent <span class="_ _2"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of minimum payments under<span class="_ _2"/> concession agr<span class="_ _2"/>eements and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the cost of pr<span class="_ _2"/>operty<span class="_ _2"/>,<span class="_ _2"/> plant and equipment<span class="_ _2"/> constructed on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">behalf of the gr<span class="_ _2"/>antor<span class="_ _0"/> of a concession. <span class="_ _2"/>The rights are am-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ortised from <span class="_ _2"/>the commencement o<span class="_ _2"/>f operations o<span class="_ _2"/>ver<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">concession period.<span class="_ _2"/> The conces<span class="_ _2"/>sion period rang<span class="_ _2"/>es from <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">10 to 34 years<span class="_ _2"/>, with<span class="_ _2"/> an aver<span class="_ _2"/>age of 17<span class="_ _2"/> years<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span><span><span style="display:inherit;clear:left;">Goodwill and t<span class="_ _2"/>erminal rights have indefinite useful </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives while all other<span class="_ _0"/> classes have definite lives.<span class="_ _2"/> Intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets re<span class="_ _2"/>garding acquir<span class="_ _2"/>ed customer<span class="_ _2"/> relationships and<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">technology ar<span class="_ _2"/>e amortised over<span class="_ _2"/> a useful lif<span class="_ _2"/>e of 10-24 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">years and 5-<span class="_ _2"/>10 <span class="_ _2"/>years,<span class="_ _2"/> respectivel<span class="_ _2"/>y<span class="_ _2"/>. In<span class="_ _2"/>ternally<span class="_ _2"/> developed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">IT<span class="_ _2"/> software is amortised o<span class="_ _2"/>ver<span class="_ _2"/> a useful life of 5 <span class="_ _2"/>years.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses<span class="ff3"> are r<span class="_ _2"/>ecognised when<span class="_ _2"/> the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an as<span class="_ _2"/>set or<span class="_ _2"/> a cash-gener<span class="_ _2"/>ating unit e<span class="_ _2"/>xceeds the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">higher<span class="_ _2"/> of the estimated <span class="_ _2"/>value in use and f<span class="_ _2"/>air <span class="_ _2"/>value less<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">costs of disposal. Goodwil<span class="_ _2"/>l is attributed <span class="_ _2"/>to cash- <span class="_ _4"/>generating </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">units on acquisition and impair<span class="_ _2"/>ed before other<span class="_ _0"/> assets. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Intangible assets and property<span class="_ _0"/>, plant and equipment<span class="_ _2"/> are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tested for<span class="_ _0"/> impairment if ther<span class="_ _2"/>e is an indication of impair<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment.<span class="_ _2"/> However<span class="_ _0"/>, annual impairment<span class="_ _2"/> tests ar<span class="_ _2"/>e carried out f<span class="_ _2"/>or </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">goodwill and other<span class="_ _2"/> intangible assets with inde<span class="_ _2"/>finite useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives as wel<span class="_ _2"/>l as intangible assets that<span class="_ _2"/> are not<span class="_ _2"/> yet<span class="_ _2"/> in use.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses ar<span class="_ _2"/>e included in deprecia<span class="_ _2"/>tion, amortisa-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion and impairment,<span class="_ _2"/> net, in <span class="_ _2"/>the income statement.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Intangible assets<span class="ff3"> are measur<span class="_ _2"/>ed at cost<span class="_ _2"/> less accumulated </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortisation and impairment<span class="_ _2"/> losses.<span class="_ _2"/> Amortisation is cal-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">culated on a str<span class="_ _2"/>aight<span class="_ _2"/>-line basis over<span class="_ _2"/> <span class="_ _2"/>the estimated useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">life of the as<span class="_ _2"/>sets. For<span class="_ _0"/> container <span class="_ _2"/>terminals oper<span class="_ _2"/>ated under<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">certain restrictiv<span class="_ _2"/>e price and service conditions,<span class="_ _2"/> etc.,<span class="_ _2"/> con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cessional rights t<span class="_ _2"/>o collect usage char<span class="_ _2"/>ges ar<span class="_ _2"/>e included un-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">der<span class="_ _2"/> intangible assets.<span class="_ _2"/> The cost<span class="_ _2"/> includes the pr<span class="_ _2"/>esent <span class="_ _2"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of minimum payments under<span class="_ _2"/> concession agr<span class="_ _2"/>eements and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the cost of pr<span class="_ _2"/>operty<span class="_ _2"/>,<span class="_ _2"/> plant and equipment<span class="_ _2"/> constructed on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">behalf of the gr<span class="_ _2"/>antor<span class="_ _0"/> of a concession. <span class="_ _2"/>The rights are am-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ortised from <span class="_ _2"/>the commencement o<span class="_ _2"/>f operations o<span class="_ _2"/>ver<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">concession period.<span class="_ _2"/> The conces<span class="_ _2"/>sion period rang<span class="_ _2"/>es from <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">10 to 34 years<span class="_ _2"/>, with<span class="_ _2"/> an aver<span class="_ _2"/>age of 17<span class="_ _2"/> years<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span><span><span style="display:inherit;clear:left;">Goodwill and t<span class="_ _2"/>erminal rights have indefinite useful </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives while all other<span class="_ _0"/> classes have definite lives.<span class="_ _2"/> Intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets re<span class="_ _2"/>garding acquir<span class="_ _2"/>ed customer<span class="_ _2"/> relationships and<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">technology ar<span class="_ _2"/>e amortised over<span class="_ _2"/> a useful lif<span class="_ _2"/>e of 10-24 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">years and 5-<span class="_ _2"/>10 <span class="_ _2"/>years,<span class="_ _2"/> respectivel<span class="_ _2"/>y<span class="_ _2"/>. In<span class="_ _2"/>ternally<span class="_ _2"/> developed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">IT<span class="_ _2"/> software is amortised o<span class="_ _2"/>ver<span class="_ _2"/> a useful life of 5 <span class="_ _2"/>years.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses<span class="ff3"> are r<span class="_ _2"/>ecognised when<span class="_ _2"/> the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an as<span class="_ _2"/>set or<span class="_ _2"/> a cash-gener<span class="_ _2"/>ating unit e<span class="_ _2"/>xceeds the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">higher<span class="_ _2"/> of the estimated <span class="_ _2"/>value in use and f<span class="_ _2"/>air <span class="_ _2"/>value less<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">costs of disposal. Goodwil<span class="_ _2"/>l is attributed <span class="_ _2"/>to cash- <span class="_ _4"/>generating </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">units on acquisition and impair<span class="_ _2"/>ed before other<span class="_ _0"/> assets. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Intangible assets and property<span class="_ _0"/>, plant and equipment<span class="_ _2"/> are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tested for<span class="_ _0"/> impairment if ther<span class="_ _2"/>e is an indication of impair<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment.<span class="_ _2"/> However<span class="_ _0"/>, annual impairment<span class="_ _2"/> tests ar<span class="_ _2"/>e carried out f<span class="_ _2"/>or </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">goodwill and other<span class="_ _2"/> intangible assets with inde<span class="_ _2"/>finite useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives as wel<span class="_ _2"/>l as intangible assets that<span class="_ _2"/> are not<span class="_ _2"/> yet<span class="_ _2"/> in use.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses ar<span class="_ _2"/>e included in deprecia<span class="_ _2"/>tion, amortisa-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion and impairment,<span class="_ _2"/> net, in <span class="_ _2"/>the income statement.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Intangible assets<span class="ff3"> are measur<span class="_ _2"/>ed at cost<span class="_ _2"/> less accumulated </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amortisation and impairment<span class="_ _2"/> losses.<span class="_ _2"/> Amortisation is cal-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">culated on a str<span class="_ _2"/>aight<span class="_ _2"/>-line basis over<span class="_ _2"/> <span class="_ _2"/>the estimated useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">life of the as<span class="_ _2"/>sets. For<span class="_ _0"/> container <span class="_ _2"/>terminals oper<span class="_ _2"/>ated under<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">certain restrictiv<span class="_ _2"/>e price and service conditions,<span class="_ _2"/> etc.,<span class="_ _2"/> con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cessional rights t<span class="_ _2"/>o collect usage char<span class="_ _2"/>ges ar<span class="_ _2"/>e included un-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">der<span class="_ _2"/> intangible assets.<span class="_ _2"/> The cost<span class="_ _2"/> includes the pr<span class="_ _2"/>esent <span class="_ _2"/>value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of minimum payments under<span class="_ _2"/> concession agr<span class="_ _2"/>eements and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the cost of pr<span class="_ _2"/>operty<span class="_ _2"/>,<span class="_ _2"/> plant and equipment<span class="_ _2"/> constructed on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">behalf of the gr<span class="_ _2"/>antor<span class="_ _0"/> of a concession. <span class="_ _2"/>The rights are am-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ortised from <span class="_ _2"/>the commencement o<span class="_ _2"/>f operations o<span class="_ _2"/>ver<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">concession period.<span class="_ _2"/> The conces<span class="_ _2"/>sion period rang<span class="_ _2"/>es from <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">10 to 34 years<span class="_ _2"/>, with<span class="_ _2"/> an aver<span class="_ _2"/>age of 17<span class="_ _2"/> years<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span><span><span style="display:inherit;clear:left;">Goodwill and t<span class="_ _2"/>erminal rights have indefinite useful </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives while all other<span class="_ _0"/> classes have definite lives.<span class="_ _2"/> Intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets re<span class="_ _2"/>garding acquir<span class="_ _2"/>ed customer<span class="_ _2"/> relationships and<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">technology ar<span class="_ _2"/>e amortised over<span class="_ _2"/> a useful lif<span class="_ _2"/>e of 10-24 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">years and 5-<span class="_ _2"/>10 <span class="_ _2"/>years,<span class="_ _2"/> respectivel<span class="_ _2"/>y<span class="_ _2"/>. In<span class="_ _2"/>ternally<span class="_ _2"/> developed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">IT<span class="_ _2"/> software is amortised o<span class="_ _2"/>ver<span class="_ _2"/> a useful life of 5 <span class="_ _2"/>years.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses<span class="ff3"> are r<span class="_ _2"/>ecognised when<span class="_ _2"/> the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an as<span class="_ _2"/>set or<span class="_ _2"/> a cash-gener<span class="_ _2"/>ating unit e<span class="_ _2"/>xceeds the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">higher<span class="_ _2"/> of the estimated <span class="_ _2"/>value in use and f<span class="_ _2"/>air <span class="_ _2"/>value less<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">costs of disposal. Goodwil<span class="_ _2"/>l is attributed <span class="_ _2"/>to cash- <span class="_ _4"/>generating </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">units on acquisition and impair<span class="_ _2"/>ed before other<span class="_ _0"/> assets. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Intangible assets and property<span class="_ _0"/>, plant and equipment<span class="_ _2"/> are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tested for<span class="_ _0"/> impairment if ther<span class="_ _2"/>e is an indication of impair<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment.<span class="_ _2"/> However<span class="_ _0"/>, annual impairment<span class="_ _2"/> tests ar<span class="_ _2"/>e carried out f<span class="_ _2"/>or </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">goodwill and other<span class="_ _2"/> intangible assets with inde<span class="_ _2"/>finite useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives as wel<span class="_ _2"/>l as intangible assets that<span class="_ _2"/> are not<span class="_ _2"/> yet<span class="_ _2"/> in use.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses ar<span class="_ _2"/>e included in deprecia<span class="_ _2"/>tion, amortisa-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion and impairment,<span class="_ _2"/> net, in <span class="_ _2"/>the income statement.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Goodwill and t<span class="_ _2"/>erminal rights have indefinite useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives while all other<span class="_ _0"/> classes have definite lives.<span class="_ _2"/> Intangible </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets re<span class="_ _2"/>garding acquir<span class="_ _2"/>ed customer<span class="_ _2"/> relationships and<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">technology ar<span class="_ _2"/>e amortised over<span class="_ _2"/> a useful lif<span class="_ _2"/>e of 10-24 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">years and 5-<span class="_ _2"/>10 <span class="_ _2"/>years,<span class="_ _2"/> respectivel<span class="_ _2"/>y<span class="_ _2"/>. In<span class="_ _2"/>ternally<span class="_ _2"/> developed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">IT<span class="_ _2"/> software is amortised o<span class="_ _2"/>ver<span class="_ _2"/> a useful life of 5 <span class="_ _2"/>years.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses<span class="ff3"> are r<span class="_ _2"/>ecognised when<span class="_ _2"/> the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an as<span class="_ _2"/>set or<span class="_ _2"/> a cash-gener<span class="_ _2"/>ating unit e<span class="_ _2"/>xceeds the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">higher<span class="_ _2"/> of the estimated <span class="_ _2"/>value in use and f<span class="_ _2"/>air <span class="_ _2"/>value less<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">costs of disposal. Goodwil<span class="_ _2"/>l is attributed <span class="_ _2"/>to cash- <span class="_ _4"/>generating </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">units on acquisition and impair<span class="_ _2"/>ed before other<span class="_ _0"/> assets. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Intangible assets and property<span class="_ _0"/>, plant and equipment<span class="_ _2"/> are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tested for<span class="_ _0"/> impairment if ther<span class="_ _2"/>e is an indication of impair<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment.<span class="_ _2"/> However<span class="_ _0"/>, annual impairment<span class="_ _2"/> tests ar<span class="_ _2"/>e carried out f<span class="_ _2"/>or </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">goodwill and other<span class="_ _2"/> intangible assets with inde<span class="_ _2"/>finite useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives as wel<span class="_ _2"/>l as intangible assets that<span class="_ _2"/> are not<span class="_ _2"/> yet<span class="_ _2"/> in use.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses ar<span class="_ _2"/>e included in deprecia<span class="_ _2"/>tion, amortisa-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion and impairment,<span class="_ _2"/> net, in <span class="_ _2"/>the income statement.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses<span class="ff3"> are r<span class="_ _2"/>ecognised when<span class="_ _2"/> the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an as<span class="_ _2"/>set or<span class="_ _2"/> a cash-gener<span class="_ _2"/>ating unit e<span class="_ _2"/>xceeds the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">higher<span class="_ _2"/> of the estimated <span class="_ _2"/>value in use and f<span class="_ _2"/>air <span class="_ _2"/>value less<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">costs of disposal. Goodwil<span class="_ _2"/>l is attributed <span class="_ _2"/>to cash- <span class="_ _4"/>generating </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">units on acquisition and impair<span class="_ _2"/>ed before other<span class="_ _0"/> assets. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Intangible assets and property<span class="_ _0"/>, plant and equipment<span class="_ _2"/> are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tested for<span class="_ _0"/> impairment if ther<span class="_ _2"/>e is an indication of impair<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment.<span class="_ _2"/> However<span class="_ _0"/>, annual impairment<span class="_ _2"/> tests ar<span class="_ _2"/>e carried out f<span class="_ _2"/>or </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">goodwill and other<span class="_ _2"/> intangible assets with inde<span class="_ _2"/>finite useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives as wel<span class="_ _2"/>l as intangible assets that<span class="_ _2"/> are not<span class="_ _2"/> yet<span class="_ _2"/> in use.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses ar<span class="_ _2"/>e included in deprecia<span class="_ _2"/>tion, amortisa-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion and impairment,<span class="_ _2"/> net, in <span class="_ _2"/>the income statement.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses<span class="ff3"> are r<span class="_ _2"/>ecognised when<span class="_ _2"/> the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an as<span class="_ _2"/>set or<span class="_ _2"/> a cash-gener<span class="_ _2"/>ating unit e<span class="_ _2"/>xceeds the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">higher<span class="_ _2"/> of the estimated <span class="_ _2"/>value in use and f<span class="_ _2"/>air <span class="_ _2"/>value less<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">costs of disposal. Goodwil<span class="_ _2"/>l is attributed <span class="_ _2"/>to cash- <span class="_ _4"/>generating </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">units on acquisition and impair<span class="_ _2"/>ed before other<span class="_ _0"/> assets. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Intangible assets and property<span class="_ _0"/>, plant and equipment<span class="_ _2"/> are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tested for<span class="_ _0"/> impairment if ther<span class="_ _2"/>e is an indication of impair<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ment.<span class="_ _2"/> However<span class="_ _0"/>, annual impairment<span class="_ _2"/> tests ar<span class="_ _2"/>e carried out f<span class="_ _2"/>or </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">goodwill and other<span class="_ _2"/> intangible assets with inde<span class="_ _2"/>finite useful </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lives as wel<span class="_ _2"/>l as intangible assets that<span class="_ _2"/> are not<span class="_ _2"/> yet<span class="_ _2"/> in use.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Impairment losses ar<span class="_ _2"/>e included in deprecia<span class="_ _2"/>tion, amortisa-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion and impairment,<span class="_ _2"/> net, in <span class="_ _2"/>the income statement.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">V<span class="_ _2"/>essels,<span class="_ _2"/> buildings etc.<span class="_ _2"/> with a carrying amount<span class="_ _2"/> of USD 0<span class="_ _2"/>.8bn (USD 0.8bn) ha<span class="_ _2"/>ve been pledged as security<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _2"/> loans of USD 0<span class="_ _2"/>.4bn (USD 0<span class="_ _2"/>.5bn).</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Property<span class="_ _0"/>, plant and equipmen<span class="_ _2"/>t are <span class="_ _2"/>valued at<span class="_ _2"/> cost less ac<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cumulated depr<span class="_ _2"/>eciation and impairment losses<span class="_ _2"/>. Depr<span class="_ _2"/>ecia-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion is charged <span class="_ _2"/>to <span class="_ _2"/>the income statement<span class="_ _2"/> on a str<span class="_ _2"/>aight-line </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">basis over<span class="_ _2"/> the useful lif<span class="_ _2"/>e at an estima<span class="_ _2"/>ted residual <span class="_ _2"/>value.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The useful lives of new assets ar<span class="_ _2"/>e typicall<span class="_ _2"/>y as fol<span class="_ _2"/>lows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:213.392578125px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 204.674px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">V<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>essels,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> etc.<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">20-25 years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 20.4336px; width: 186.322px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Containers,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> etc.<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 74.0509px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">15 years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 40.8555px; width: 203.443px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Buildings<span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">10-50 years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 61.2773px; width: 271.107px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>erminal infrastructure<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">10-30 years or<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> concession </span></span><span style="position: absolute; display: inline-block; left: 148px; top: 71.7773px; width: 77.7656px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">period, if short<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>er</span><span style="position: absolute; display: inline-block; left: 0px; top: 93.623px; width: 120.398px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">W<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>arehouses and related <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 148px; top: 92.1992px; width: 119.713px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">5-25 years,<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> or lease term,<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 105.639px; width: 70.4824px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">infrastructur<span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>e </span><span style="position: absolute; display: inline-block; left: 148px; top: 104.215px; width: 43.377px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">if shorter</span><span style="position: absolute; display: inline-block; left: 0px; top: 126.061px; width: 99.2754px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Aircr<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>aft and relat<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>ed <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 148px; top: 130.637px; width: 49.8574px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">3-30 years</span><span style="position: absolute; display: inline-block; left: 0px; top: 138.061px; width: 61.4824px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">components </span><span style="position: absolute; display: inline-block; left: 0px; top: 158.482px; width: 136.102px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Plant and machinery<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>, cr<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>anes </span><span style="position: absolute; display: inline-block; left: 148px; top: 163.059px; width: 49.4062px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">5-25 years</span><span style="position: absolute; display: inline-block; left: 0px; top: 170.482px; width: 143.959px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">and other<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> terminal equipment</span><span style="position: absolute; display: inline-block; left: 0px; top: 190.904px; width: 135.422px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> operating equipment,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 148px; top: 195.48px; width: 41.8066px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">3-<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>7<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> years</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.904px; width: 61.3359px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">fixtures,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> etc.</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Estimated useful lives and r<span class="_ _2"/>esidual v<span class="_ _2"/>alues are r<span class="_ _2"/>eassessed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on a r<span class="_ _2"/>egular<span class="_ _2"/> basis.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The cost of an asset<span class="_ _2"/> is divided into separ<span class="_ _2"/>ate compo-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nents,<span class="_ _2"/> which ar<span class="_ _2"/>e depreciated separ<span class="_ _2"/>atel<span class="_ _2"/>y if <span class="_ _2"/>the useful life </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the individual component<span class="_ _2"/> differs.<span class="_ _2"/> Dry<span class="_ _2"/>-docking costs </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _2"/>ecognised in <span class="_ _2"/>the carrying amount of <span class="_ _2"/>vessels when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">incurred and depr<span class="_ _2"/>eciated over<span class="_ _0"/> the period until the next<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dry-docking.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The cost of assets construct<span class="_ _2"/>ed by <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">includes directl<span class="_ _2"/>y attributable expenses.<span class="_ _2"/> For<span class="_ _2"/> assets with<span class="_ _2"/> a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">long construction period,<span class="_ _2"/> borrowing costs during <span class="_ _2"/>the con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">struction period from<span class="_ _2"/> specific as well as gener<span class="_ _2"/>al borro<span class="_ _2"/>w-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ings are attribut<span class="_ _2"/>ed to cost.<span class="_ _2"/> In addition,<span class="_ _2"/> the cost<span class="_ _2"/> includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the net pr<span class="_ _2"/>esent <span class="_ _2"/>value of estimated costs o<span class="_ _2"/>f remov<span class="_ _2"/>al and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">restor<span class="_ _2"/>ation.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 4.4 <span class="_ _64"> </span>Financial income and expenses</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:362.796875px;"><span style="position: absolute; display: inline-block; left: 453.797px; top: 0.0136718px; width: 102.393px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 141.312px; top: 24.5547px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1,4</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 142.049px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est expenses on liabilities</span><span style="position: absolute; display: inline-block; left: 461.625px; top: 24.6855px; width: 95.6895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">904<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>815</span><span style="position: absolute; display: inline-block; left: 176.062px; top: 39.4453px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 175.846px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Borrowing costs capitalised on<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> assets</span><span style="position: absolute; display: inline-block; left: 461.625px; top: 39.5762px; width: 95.7773px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">133<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>49</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est income on loans and r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>eceivables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 260.496px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,202<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>436</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.98px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value adjustment <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansferred fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om equity hedg<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e reserve (loss)<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.412px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>33</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>est e<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>xpenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 352.547px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-410<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>363</span><span style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate gains on bank balances, borr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owings and working capital<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>335<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>596</span><span style="position: absolute; display: inline-block; left: 0px; top: 128.92px; width: 556.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate losses on bank balances, borr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owings and working capital<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>522<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>586</span><span style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 556.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>eign ex<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>change gains/losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 292.102px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-187<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>10</span><span style="position: absolute; display: inline-block; left: 0px; top: 173.607px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value gains fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om derivatives<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 309.943px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>200<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>54</span><span style="position: absolute; display: inline-block; left: 0px; top: 188.498px; width: 556.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value losses from<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> derivatives<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 312.117px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>56<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>319</span><span style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 557.238px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> v<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>alue gains/losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 333.785px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>144<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-265</span><span style="position: absolute; display: inline-block; left: 160.516px; top: 233.07px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 0px; top: 233.17px; width: 160.646px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Dividends received fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om securities</span><span style="position: absolute; display: inline-block; left: 473.984px; top: 233.186px; width: 85.4355px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 248.076px; width: 559.395px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gains on payable c<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ontingent consider<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 268.424px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>66<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 262.967px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses on financial as<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>sets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 298.195px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13</span><span style="position: absolute; display: inline-block; left: 0px; top: 277.857px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Reversal of impairment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> losses on financial assets <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 242.473px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2</span><span style="position: absolute; display: inline-block; left: 0px; top: 292.748px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial expenses, net<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 344.49px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-428<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>629</span><span style="position: absolute; display: inline-block; left: 0px; top: 322.84px; width: 40.6699px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Of<span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> which:</span><span style="position: absolute; display: inline-block; left: 0px; top: 337.42px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Financial income<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 372.685px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,804<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,088</span><span style="position: absolute; display: inline-block; left: 0px; top: 352.311px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Financial expenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 363.445px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,376<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,717</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Of which USD 563m (USD<span class="_ _2"/> 518m) relates <span class="_ _2"/>to inter<span class="_ _2"/>est expenses on lease liabilities.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>The capitalisation r<span class="_ _2"/>ate used to det<span class="_ _2"/>ermine the amount of borr<span class="_ _2"/>owing costs eligible for<span class="_ _2"/> capitalisation is 7<span class="_ _0"/>.2% (4.6%).<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Of which USD 1m (USD 0m) pertains to shar<span class="_ _2"/>es held at <span class="_ _2"/>the end of the y<span class="_ _2"/>ear and USD<span class="_ _2"/> 0m (USD 0m) pertains to shar<span class="_ _2"/>es sold during the <span class="_ _2"/>year<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _9"> </span>Of which USD 10m (USD<span class="_ _2"/> 0m) relates <span class="_ _2"/>to expenses from pr<span class="_ _2"/>epayment<span class="_ _2"/> of issued bonds.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _2"/> an analysis of gains and los<span class="_ _2"/>ses from deriv<span class="_ _2"/>atives,<span class="_ _2"/> ref<span class="_ _2"/>erence is made <span class="_ _2"/>to note 4.5<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Property<span class="_ _0"/>, plant and equipmen<span class="_ _2"/>t are <span class="_ _2"/>valued at<span class="_ _2"/> cost less ac<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cumulated depr<span class="_ _2"/>eciation and impairment losses<span class="_ _2"/>. Depr<span class="_ _2"/>ecia-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion is charged <span class="_ _2"/>to <span class="_ _2"/>the income statement<span class="_ _2"/> on a str<span class="_ _2"/>aight-line </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">basis over<span class="_ _2"/> the useful lif<span class="_ _2"/>e at an estima<span class="_ _2"/>ted residual <span class="_ _2"/>value.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The useful lives of new assets ar<span class="_ _2"/>e typicall<span class="_ _2"/>y as fol<span class="_ _2"/>lows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:213.392578125px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 204.674px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">V<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>essels,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> etc.<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">20-25 years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 20.4336px; width: 186.322px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Containers,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> etc.<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 74.0509px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">15 years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 40.8555px; width: 203.443px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Buildings<span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">10-50 years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 61.2773px; width: 271.107px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>erminal infrastructure<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">10-30 years or<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> concession </span></span><span style="position: absolute; display: inline-block; left: 148px; top: 71.7773px; width: 77.7656px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">period, if short<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>er</span><span style="position: absolute; display: inline-block; left: 0px; top: 93.623px; width: 120.398px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">W<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>arehouses and related <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 148px; top: 92.1992px; width: 119.713px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">5-25 years,<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> or lease term,<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 105.639px; width: 70.4824px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">infrastructur<span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>e </span><span style="position: absolute; display: inline-block; left: 148px; top: 104.215px; width: 43.377px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">if shorter</span><span style="position: absolute; display: inline-block; left: 0px; top: 126.061px; width: 99.2754px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Aircr<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>aft and relat<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>ed <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 148px; top: 130.637px; width: 49.8574px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">3-30 years</span><span style="position: absolute; display: inline-block; left: 0px; top: 138.061px; width: 61.4824px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">components </span><span style="position: absolute; display: inline-block; left: 0px; top: 158.482px; width: 136.102px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Plant and machinery<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>, cr<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>anes </span><span style="position: absolute; display: inline-block; left: 148px; top: 163.059px; width: 49.4062px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">5-25 years</span><span style="position: absolute; display: inline-block; left: 0px; top: 170.482px; width: 143.959px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">and other<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> terminal equipment</span><span style="position: absolute; display: inline-block; left: 0px; top: 190.904px; width: 135.422px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> operating equipment,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 148px; top: 195.48px; width: 41.8066px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">3-<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>7<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> years</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.904px; width: 61.3359px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">fixtures,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> etc.</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Estimated useful lives and r<span class="_ _2"/>esidual v<span class="_ _2"/>alues are r<span class="_ _2"/>eassessed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on a r<span class="_ _2"/>egular<span class="_ _2"/> basis.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The cost of an asset<span class="_ _2"/> is divided into separ<span class="_ _2"/>ate compo-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nents,<span class="_ _2"/> which ar<span class="_ _2"/>e depreciated separ<span class="_ _2"/>atel<span class="_ _2"/>y if <span class="_ _2"/>the useful life </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the individual component<span class="_ _2"/> differs.<span class="_ _2"/> Dry<span class="_ _2"/>-docking costs </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _2"/>ecognised in <span class="_ _2"/>the carrying amount of <span class="_ _2"/>vessels when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">incurred and depr<span class="_ _2"/>eciated over<span class="_ _0"/> the period until the next<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dry-docking.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The cost of assets construct<span class="_ _2"/>ed by <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">includes directl<span class="_ _2"/>y attributable expenses.<span class="_ _2"/> For<span class="_ _2"/> assets with<span class="_ _2"/> a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">long construction period,<span class="_ _2"/> borrowing costs during <span class="_ _2"/>the con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">struction period from<span class="_ _2"/> specific as well as gener<span class="_ _2"/>al borro<span class="_ _2"/>w-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ings are attribut<span class="_ _2"/>ed to cost.<span class="_ _2"/> In addition,<span class="_ _2"/> the cost<span class="_ _2"/> includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the net pr<span class="_ _2"/>esent <span class="_ _2"/>value of estimated costs o<span class="_ _2"/>f remov<span class="_ _2"/>al and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">restor<span class="_ _2"/>ation.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Property<span class="_ _0"/>, plant and equipmen<span class="_ _2"/>t are <span class="_ _2"/>valued at<span class="_ _2"/> cost less ac<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cumulated depr<span class="_ _2"/>eciation and impairment losses<span class="_ _2"/>. Depr<span class="_ _2"/>ecia-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion is charged <span class="_ _2"/>to <span class="_ _2"/>the income statement<span class="_ _2"/> on a str<span class="_ _2"/>aight-line </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">basis over<span class="_ _2"/> the useful lif<span class="_ _2"/>e at an estima<span class="_ _2"/>ted residual <span class="_ _2"/>value.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The useful lives of new assets ar<span class="_ _2"/>e typicall<span class="_ _2"/>y as fol<span class="_ _2"/>lows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:213.392578125px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 204.674px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">V<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>essels,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> etc.<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">20-25 years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 20.4336px; width: 186.322px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Containers,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> etc.<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 74.0509px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">15 years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 40.8555px; width: 203.443px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Buildings<span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">10-50 years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 61.2773px; width: 271.107px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>erminal infrastructure<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">10-30 years or<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> concession </span></span><span style="position: absolute; display: inline-block; left: 148px; top: 71.7773px; width: 77.7656px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">period, if short<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>er</span><span style="position: absolute; display: inline-block; left: 0px; top: 93.623px; width: 120.398px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">W<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>arehouses and related <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 148px; top: 92.1992px; width: 119.713px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">5-25 years,<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> or lease term,<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 105.639px; width: 70.4824px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">infrastructur<span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>e </span><span style="position: absolute; display: inline-block; left: 148px; top: 104.215px; width: 43.377px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">if shorter</span><span style="position: absolute; display: inline-block; left: 0px; top: 126.061px; width: 99.2754px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Aircr<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>aft and relat<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>ed <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 148px; top: 130.637px; width: 49.8574px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">3-30 years</span><span style="position: absolute; display: inline-block; left: 0px; top: 138.061px; width: 61.4824px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">components </span><span style="position: absolute; display: inline-block; left: 0px; top: 158.482px; width: 136.102px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Plant and machinery<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>, cr<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>anes </span><span style="position: absolute; display: inline-block; left: 148px; top: 163.059px; width: 49.4062px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">5-25 years</span><span style="position: absolute; display: inline-block; left: 0px; top: 170.482px; width: 143.959px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">and other<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> terminal equipment</span><span style="position: absolute; display: inline-block; left: 0px; top: 190.904px; width: 135.422px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> operating equipment,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 148px; top: 195.48px; width: 41.8066px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">3-<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>7<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> years</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.904px; width: 61.3359px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">fixtures,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> etc.</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Estimated useful lives and r<span class="_ _2"/>esidual v<span class="_ _2"/>alues are r<span class="_ _2"/>eassessed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on a r<span class="_ _2"/>egular<span class="_ _2"/> basis.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The cost of an asset<span class="_ _2"/> is divided into separ<span class="_ _2"/>ate compo-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nents,<span class="_ _2"/> which ar<span class="_ _2"/>e depreciated separ<span class="_ _2"/>atel<span class="_ _2"/>y if <span class="_ _2"/>the useful life </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the individual component<span class="_ _2"/> differs.<span class="_ _2"/> Dry<span class="_ _2"/>-docking costs </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _2"/>ecognised in <span class="_ _2"/>the carrying amount of <span class="_ _2"/>vessels when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">incurred and depr<span class="_ _2"/>eciated over<span class="_ _0"/> the period until the next<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dry-docking.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The cost of assets construct<span class="_ _2"/>ed by <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">includes directl<span class="_ _2"/>y attributable expenses.<span class="_ _2"/> For<span class="_ _2"/> assets with<span class="_ _2"/> a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">long construction period,<span class="_ _2"/> borrowing costs during <span class="_ _2"/>the con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">struction period from<span class="_ _2"/> specific as well as gener<span class="_ _2"/>al borro<span class="_ _2"/>w-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ings are attribut<span class="_ _2"/>ed to cost.<span class="_ _2"/> In addition,<span class="_ _2"/> the cost<span class="_ _2"/> includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the net pr<span class="_ _2"/>esent <span class="_ _2"/>value of estimated costs o<span class="_ _2"/>f remov<span class="_ _2"/>al and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">restor<span class="_ _2"/>ation.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Property<span class="_ _0"/>, plant and equipmen<span class="_ _2"/>t are <span class="_ _2"/>valued at<span class="_ _2"/> cost less ac<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cumulated depr<span class="_ _2"/>eciation and impairment losses<span class="_ _2"/>. Depr<span class="_ _2"/>ecia-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion is charged <span class="_ _2"/>to <span class="_ _2"/>the income statement<span class="_ _2"/> on a str<span class="_ _2"/>aight-line </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">basis over<span class="_ _2"/> the useful lif<span class="_ _2"/>e at an estima<span class="_ _2"/>ted residual <span class="_ _2"/>value.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The useful lives of new assets ar<span class="_ _2"/>e typicall<span class="_ _2"/>y as fol<span class="_ _2"/>lows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:213.392578125px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 204.674px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">V<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>essels,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> etc.<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">20-25 years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 20.4336px; width: 186.322px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Containers,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> etc.<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 74.0509px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">15 years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 40.8555px; width: 203.443px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Buildings<span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">10-50 years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 61.2773px; width: 271.107px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>erminal infrastructure<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">10-30 years or<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> concession </span></span><span style="position: absolute; display: inline-block; left: 148px; top: 71.7773px; width: 77.7656px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">period, if short<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>er</span><span style="position: absolute; display: inline-block; left: 0px; top: 93.623px; width: 120.398px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">W<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>arehouses and related <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 148px; top: 92.1992px; width: 119.713px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">5-25 years,<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> or lease term,<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 105.639px; width: 70.4824px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">infrastructur<span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>e </span><span style="position: absolute; display: inline-block; left: 148px; top: 104.215px; width: 43.377px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">if shorter</span><span style="position: absolute; display: inline-block; left: 0px; top: 126.061px; width: 99.2754px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Aircr<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>aft and relat<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>ed <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 148px; top: 130.637px; width: 49.8574px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">3-30 years</span><span style="position: absolute; display: inline-block; left: 0px; top: 138.061px; width: 61.4824px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">components </span><span style="position: absolute; display: inline-block; left: 0px; top: 158.482px; width: 136.102px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Plant and machinery<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>, cr<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>anes </span><span style="position: absolute; display: inline-block; left: 148px; top: 163.059px; width: 49.4062px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">5-25 years</span><span style="position: absolute; display: inline-block; left: 0px; top: 170.482px; width: 143.959px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">and other<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> terminal equipment</span><span style="position: absolute; display: inline-block; left: 0px; top: 190.904px; width: 135.422px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> operating equipment,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 148px; top: 195.48px; width: 41.8066px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">3-<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>7<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> years</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.904px; width: 61.3359px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">fixtures,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> etc.</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Estimated useful lives and r<span class="_ _2"/>esidual v<span class="_ _2"/>alues are r<span class="_ _2"/>eassessed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on a r<span class="_ _2"/>egular<span class="_ _2"/> basis.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The cost of an asset<span class="_ _2"/> is divided into separ<span class="_ _2"/>ate compo-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nents,<span class="_ _2"/> which ar<span class="_ _2"/>e depreciated separ<span class="_ _2"/>atel<span class="_ _2"/>y if <span class="_ _2"/>the useful life </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the individual component<span class="_ _2"/> differs.<span class="_ _2"/> Dry<span class="_ _2"/>-docking costs </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _2"/>ecognised in <span class="_ _2"/>the carrying amount of <span class="_ _2"/>vessels when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">incurred and depr<span class="_ _2"/>eciated over<span class="_ _0"/> the period until the next<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dry-docking.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The cost of assets construct<span class="_ _2"/>ed by <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">includes directl<span class="_ _2"/>y attributable expenses.<span class="_ _2"/> For<span class="_ _2"/> assets with<span class="_ _2"/> a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">long construction period,<span class="_ _2"/> borrowing costs during <span class="_ _2"/>the con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">struction period from<span class="_ _2"/> specific as well as gener<span class="_ _2"/>al borro<span class="_ _2"/>w-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ings are attribut<span class="_ _2"/>ed to cost.<span class="_ _2"/> In addition,<span class="_ _2"/> the cost<span class="_ _2"/> includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the net pr<span class="_ _2"/>esent <span class="_ _2"/>value of estimated costs o<span class="_ _2"/>f remov<span class="_ _2"/>al and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">restor<span class="_ _2"/>ation.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Property<span class="_ _0"/>, plant and equipmen<span class="_ _2"/>t are <span class="_ _2"/>valued at<span class="_ _2"/> cost less ac<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cumulated depr<span class="_ _2"/>eciation and impairment losses<span class="_ _2"/>. Depr<span class="_ _2"/>ecia-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion is charged <span class="_ _2"/>to <span class="_ _2"/>the income statement<span class="_ _2"/> on a str<span class="_ _2"/>aight-line </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">basis over<span class="_ _2"/> the useful lif<span class="_ _2"/>e at an estima<span class="_ _2"/>ted residual <span class="_ _2"/>value.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The useful lives of new assets ar<span class="_ _2"/>e typicall<span class="_ _2"/>y as fol<span class="_ _2"/>lows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:213.392578125px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0117187px; width: 204.674px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">V<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>essels,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> etc.<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">20-25 years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 20.4336px; width: 186.322px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Containers,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> etc.<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 74.0509px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">15 years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 40.8555px; width: 203.443px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Buildings<span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">10-50 years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 61.2773px; width: 271.107px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>erminal infrastructure<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">10-30 years or<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> concession </span></span><span style="position: absolute; display: inline-block; left: 148px; top: 71.7773px; width: 77.7656px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">period, if short<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>er</span><span style="position: absolute; display: inline-block; left: 0px; top: 93.623px; width: 120.398px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">W<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>arehouses and related <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 148px; top: 92.1992px; width: 119.713px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">5-25 years,<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> or lease term,<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 105.639px; width: 70.4824px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">infrastructur<span style="word-spacing: 0.0525px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>e </span><span style="position: absolute; display: inline-block; left: 148px; top: 104.215px; width: 43.377px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">if shorter</span><span style="position: absolute; display: inline-block; left: 0px; top: 126.061px; width: 99.2754px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Aircr<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>aft and relat<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>ed <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 148px; top: 130.637px; width: 49.8574px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">3-30 years</span><span style="position: absolute; display: inline-block; left: 0px; top: 138.061px; width: 61.4824px; white-space: pre; word-spacing: 0.0525px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">components </span><span style="position: absolute; display: inline-block; left: 0px; top: 158.482px; width: 136.102px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Plant and machinery<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>, cr<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/>anes </span><span style="position: absolute; display: inline-block; left: 148px; top: 163.059px; width: 49.4062px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">5-25 years</span><span style="position: absolute; display: inline-block; left: 0px; top: 170.482px; width: 143.959px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">and other<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> terminal equipment</span><span style="position: absolute; display: inline-block; left: 0px; top: 190.904px; width: 135.422px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> operating equipment,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 148px; top: 195.48px; width: 41.8066px; white-space: pre; word-spacing: -0.21px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">3-<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>7<span style="word-spacing: -0.21px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> years</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.904px; width: 61.3359px; white-space: pre; word-spacing: 0px; letter-spacing: -0.0525px; margin-left: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;">fixtures,<span style="word-spacing: 0px; letter-spacing: -0.0525px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff2; -webkit-text-stroke-width: 0.1575px;"/> etc.</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Estimated useful lives and r<span class="_ _2"/>esidual v<span class="_ _2"/>alues are r<span class="_ _2"/>eassessed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on a r<span class="_ _2"/>egular<span class="_ _2"/> basis.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The cost of an asset<span class="_ _2"/> is divided into separ<span class="_ _2"/>ate compo-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nents,<span class="_ _2"/> which ar<span class="_ _2"/>e depreciated separ<span class="_ _2"/>atel<span class="_ _2"/>y if <span class="_ _2"/>the useful life </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the individual component<span class="_ _2"/> differs.<span class="_ _2"/> Dry<span class="_ _2"/>-docking costs </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _2"/>ecognised in <span class="_ _2"/>the carrying amount of <span class="_ _2"/>vessels when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">incurred and depr<span class="_ _2"/>eciated over<span class="_ _0"/> the period until the next<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dry-docking.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The cost of assets construct<span class="_ _2"/>ed by <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">includes directl<span class="_ _2"/>y attributable expenses.<span class="_ _2"/> For<span class="_ _2"/> assets with<span class="_ _2"/> a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">long construction period,<span class="_ _2"/> borrowing costs during <span class="_ _2"/>the con-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">struction period from<span class="_ _2"/> specific as well as gener<span class="_ _2"/>al borro<span class="_ _2"/>w-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ings are attribut<span class="_ _2"/>ed to cost.<span class="_ _2"/> In addition,<span class="_ _2"/> the cost<span class="_ _2"/> includes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the net pr<span class="_ _2"/>esent <span class="_ _2"/>value of estimated costs o<span class="_ _2"/>f remov<span class="_ _2"/>al and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">restor<span class="_ _2"/>ation.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 3.3 <span class="_"> </span>Right<span class="_ _0"/>-of<span class="_ _2"/>-use assets</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:327.203125px;"><span style="position: absolute; display: inline-block; left: 289.812px; top: 0.0136718px; width: 39.9141px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>essels, <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 351.719px; top: 0.0136718px; width: 55.0781px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Concession </span><span style="position: absolute; display: inline-block; left: 427.766px; top: 0.0136718px; width: 55.6113px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Real estate </span><span style="position: absolute; display: inline-block; left: 534px; top: 0.0136718px; width: 23.5195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 274.609px; top: 12.0137px; width: 55.4941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">containers, </span><span style="position: absolute; display: inline-block; left: 347.938px; top: 12.0137px; width: 56.3027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">agreements</span><span style="position: absolute; display: inline-block; left: 434.797px; top: 12.0137px; width: 47.9473px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">and other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 308.875px; top: 24.0137px; width: 18.0527px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">etc.</span><span style="position: absolute; display: inline-block; left: 450.641px; top: 24.0137px; width: 29.2676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">leases</span><span style="position: absolute; display: inline-block; left: 0px; top: 48.9961px; width: 85.207px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Right-of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/>-use assets</span><span style="position: absolute; display: inline-block; left: 0px; top: 63.5762px; width: 556.688px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 224.203px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">6,344<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,411<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,212<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10,967</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 78.4668px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 250.881px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,007<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>69<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,088<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,164</span><span style="position: absolute; display: inline-block; left: 0px; top: 93.3574px; width: 556.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions from acquir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed companies<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 156.24px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>29<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>29</span><span style="position: absolute; display: inline-block; left: 0px; top: 108.248px; width: 556.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 263.367px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>154<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>57<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>212</span><span style="position: absolute; display: inline-block; left: 0px; top: 123.139px; width: 556.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Depreciation <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 235.887px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,504<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>191<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>555<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,250</span><span style="position: absolute; display: inline-block; left: 0px; top: 137.279px; width: 556.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.303px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-17<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-36<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-53</span><span style="position: absolute; display: inline-block; left: 0px; top: 152.92px; width: 556.852px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, owned assets, etc.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 172.723px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-25</span><span style="position: absolute; display: inline-block; left: 0px; top: 167.811px; width: 556.641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 192.943px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>29<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>20<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>50</span><span style="position: absolute; display: inline-block; left: 0px; top: 182.701px; width: 556.699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.836px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,652<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2.317<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,701<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>9,670</span><span style="position: absolute; display: inline-block; left: 0px; top: 212.498px; width: 556.688px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2022<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 224.203px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">6,136<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,550<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,220<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9,906</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 227.373px; width: 556.764px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 250.881px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,093<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>157<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>960<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,210</span><span style="position: absolute; display: inline-block; left: 0px; top: 242.264px; width: 556.746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions from acquir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed companies<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.914px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.1875px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>570<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>570</span><span style="position: absolute; display: inline-block; left: 0px; top: 257.154px; width: 556.723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 263.367px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>307<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>129<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>436</span><span style="position: absolute; display: inline-block; left: 0px; top: 272.045px; width: 556.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Depreciation <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 235.887px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,532<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>184<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>362<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,078</span><span style="position: absolute; display: inline-block; left: 0px; top: 286.936px; width: 557.098px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, owned assets, etc.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 172.723px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-45<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-45</span><span style="position: absolute; display: inline-block; left: 0px; top: 301.826px; width: 557.256px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 188.69px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-112<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-47<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-160</span><span style="position: absolute; display: inline-block; left: 0px; top: 316.717px; width: 559.137px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 204.533px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 6,344 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 2,411 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 2,212 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 10,967 </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:139.421875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 557.086px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Amounts recognised in pr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ofit and loss<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 272.584px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 24.7012px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Depreciation on<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> right<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-of-use assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 285.516px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,250<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,078</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 556.775px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est expenses (included in finance costs)<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 250.881px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 563 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>518</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.373px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Expenses relating <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>to service elements of leases<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 239.531px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>868<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>976</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.2637px; width: 556.699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Expenses relating <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>to short<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-t<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erm leases<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>189<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>248</span><span style="position: absolute; display: inline-block; left: 0px; top: 99.1543px; width: 557.162px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Expenses relating <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>to v<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ariable lease payments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 250.353px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>297<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>292</span><span style="position: absolute; display: inline-block; left: 0px; top: 114.045px; width: 556.957px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Expenses relating <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>to leases of low<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-v<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>alue assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 247.312px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>26<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>23</span><span style="position: absolute; display: inline-block; left: 0px; top: 128.936px; width: 556.945px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal recognised in opera<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ting costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 280.852px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 1,380 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.3866px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,539</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">As part of <span class="_ _2"/>the Group’<span class="_ _2"/>s activities,<span class="_ _2"/> customary<span class="_ _2"/> leasing agreements ar<span class="_ _2"/>e entered,<span class="_ _2"/> especiall<span class="_ _2"/>y r<span class="_ _2"/>egar<span class="_ _2"/>ding the chartering of <span class="_ _2"/>vessels </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and leasing of containers and other<span class="_ _2"/> equipment.<span class="_ _2"/> In some cases,<span class="_ _2"/> the leasing agr<span class="_ _2"/>eements comprise purchase options ex<span class="_ _2"/>er-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cisable by <span class="_ _2"/>the Group and options f<span class="_ _2"/>or e<span class="_ _2"/>xtending the lease <span class="_ _2"/>term.<span class="_ _2"/> The Gr<span class="_ _2"/>oup also enters into conc<span class="_ _2"/>ession agreements <span class="_ _2"/>that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">provide <span class="_ _2"/>the right<span class="_ _2"/>-t<span class="_ _2"/>o-use some existing infrastructur<span class="_ _2"/>e or<span class="_ _2"/> land as requir<span class="_ _2"/>ed to carry<span class="_ _2"/> out <span class="_ _2"/>the terminal business<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>T<span class="_ _0"/>o optimise lease costs during the contr<span class="_ _2"/>act period,<span class="_ _2"/> the Gr<span class="_ _2"/>oup sometimes provides r<span class="_ _2"/>esidual v<span class="_ _2"/>alue guarant<span class="_ _2"/>ees in relation </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to equipment<span class="_ _2"/> leases. <span class="_ _2"/>A<span class="_ _2"/>t the end of 2023<span class="_ _2"/>,<span class="_ _2"/> the expect<span class="_ _2"/>ed residual <span class="_ _2"/>values wer<span class="_ _2"/>e review<span class="_ _2"/>ed if these re<span class="_ _2"/>flect the actual r<span class="_ _2"/>esidual </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">values achieved on<span class="_ _2"/> comparable assets and e<span class="_ _2"/>xpectations about futur<span class="_ _2"/>e prices.<span class="_ _2"/> A<span class="_ _2"/>t 31 December<span class="_ _2"/> 2023<span class="_ _2"/>, USD<span class="_ _2"/> 226m (USD </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">226m) is expected <span class="_ _2"/>to be payable and is included in<span class="_ _2"/> the measur<span class="_ _2"/>ement of <span class="_ _2"/>the lease liabilities.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Lea<span class="_ _2"/>ses <span class="_ _2"/>to<span class="_ _2"/> whi<span class="_ _2"/>ch <span class="_ _2"/>A.<span class="_ _2"/>P<span class="_ _4"/>. Mo<span class="_ _2"/>lle<span class="_ _2"/>r<span class="_ _2"/> - Ma<span class="_ _2"/>ersk<span class="_ _2"/> is committed,<span class="_ _2"/> but for<span class="_ _0"/> which the lease t<span class="_ _2"/>erm has not <span class="_ _2"/>yet commenced,<span class="_ _2"/> have an<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">undi<span class="_ _1"/>scounted v<span class="_ _2"/>alue of USD 2.6bn (USD 1.<span class="_ _2"/>6bn). <span class="_ _2"/>They<span class="_ _2"/> comprise approx.<span class="_ _2"/> 35 contr<span class="_ _2"/>acts commencing in 2024-202<span class="_ _2"/>6.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Certain t<span class="_ _2"/>erminal concession agreements c<span class="_ _2"/>ontain v<span class="_ _2"/>ariable payment <span class="_ _2"/>terms tha<span class="_ _2"/>t ar<span class="_ _2"/>e linked <span class="_ _2"/>to future perf<span class="_ _2"/>ormance, i.<span class="_ _2"/>e.,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">number<span class="_ _2"/> of containers handled. Such<span class="_ _2"/> payments are r<span class="_ _2"/>ecognised in <span class="_ _2"/>the income statement<span class="_ _2"/> in the period in<span class="_ _2"/> which the condi-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tion that trigg<span class="_ _2"/>ers those payments occurs.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>T<span class="_ _0"/>otal cash outflow from leases <span class="_ _2"/>was USD 5<span class="_ _2"/>.2bn (USD 5<span class="_ _2"/>.<span class="_ _0"/>1bn), of which USD<span class="_ _2"/> 3.2bn (USD<span class="_ _2"/> 3.<span class="_ _0"/>1) r<span class="_ _2"/>elates t<span class="_ _2"/>o repayment<span class="_ _2"/> of lease </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities,<span class="_ _2"/> USD 1.4bn (USD 1.5bn) <span class="_ _2"/>to other<span class="_ _2"/> lease expenses and USD 563m (USD<span class="_ _2"/> 518m) to int<span class="_ _2"/>erest<span class="_ _2"/> expenses.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Lease liabilities are disclosed in not<span class="_ _2"/>es 4.2 and 4.5<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Right-of<span class="_ _2"/>-use assets<span class="ff3"> are mainl<span class="_ _2"/>y leased <span class="_ _2"/>vessels,<span class="_ _2"/> containers,<span class="_ _2"/> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">concession arr<span class="_ _2"/>angements and real esta<span class="_ _2"/>te property<span class="_ _0"/>. Lease </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contr<span class="_ _2"/>acts for<span class="_ _2"/> vessels and con<span class="_ _2"/>tainers are <span class="_ _2"/>typically<span class="_ _2"/> made </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _2"/> fixed periods of about<span class="_ _2"/> five years<span class="_ _2"/>, but<span class="_ _2"/> may hav<span class="_ _2"/>e exten-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sion options as described t<span class="_ _2"/>ogether<span class="_ _2"/> with lease liabilities.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Concession arr<span class="_ _2"/>angements and real esta<span class="_ _2"/>te contr<span class="_ _2"/>acts are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">negotiat<span class="_ _2"/>ed on an individual basis and contain a <span class="_ _2"/>wide </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rang<span class="_ _2"/>e of terms and conditions<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Leases are r<span class="_ _2"/>ecognised as a right<span class="_ _2"/>-of-use asset<span class="_ _2"/> with a <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">corresponding lease liability<span class="_ _2"/> at <span class="_ _2"/>the date on which<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">leased asset is av<span class="_ _2"/>ailable for<span class="_ _2"/> use.<span class="_ _2"/> The righ<span class="_ _2"/>t-of-use asset<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is depreciat<span class="_ _2"/>ed over<span class="_ _2"/> the shorter<span class="_ _0"/> of the asset’s useful lif<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the lease <span class="_ _2"/>term on a str<span class="_ _2"/>aight<span class="_ _2"/>-line basis.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Payments associat<span class="_ _2"/>ed with short<span class="_ _2"/>-t<span class="_ _2"/>erm leases and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">leases of low-<span class="_ _2"/>value assets ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised on a str<span class="_ _2"/>aight<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">line basis as an expense in <span class="_ _2"/>the income statement.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 4.2 <span class="_"> </span>Borr<span class="_ _2"/>owings and lease liability r<span class="_ _2"/>econciliation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:415.25px;"><span style="position: absolute; display: inline-block; left: 88px; top: 0.0136718px; width: 42.1172px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Net debt <span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 161.844px; top: 0.0136718px; width: 401.613px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cash flows<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 105.586px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Non-cash changes<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 117.082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Net debt <span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span></span><span style="position: absolute; display: inline-block; left: 66.3281px; top: 12.0137px; width: 61.5527px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">31 December</span><span style="position: absolute; display: inline-block; left: 500.219px; top: 12.0137px; width: 61.5527px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">31 December</span><span style="position: absolute; display: inline-block; left: 485.219px; top: 36.5547px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 106.234px; top: 36.6855px; width: 72.7559px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.3594px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">From</span></span><span style="position: absolute; display: inline-block; left: 204.141px; top: 36.6855px; width: 79.6523px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Addi- </span><span style="position: absolute; display: inline-block; left: 292.141px; top: 36.6855px; width: 98.0742px; white-space: pre; word-spacing: -2.562px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Dis posals<span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 4.20705px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, </span></span><span style="position: absolute; display: inline-block; left: 401.859px; top: 36.6855px; width: 37.957px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Foreign <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 458.422px; top: 36.6855px; width: 26.6426px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other</span><span style="position: absolute; display: inline-block; left: 535.594px; top: 36.6855px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023</span><span style="position: absolute; display: inline-block; left: 136.047px; top: 48.6855px; width: 42.4336px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">financing</span><span style="position: absolute; display: inline-block; left: 257.172px; top: 48.6855px; width: 23.4785px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">tions</span><span style="position: absolute; display: inline-block; left: 356.469px; top: 48.6855px; width: 32.2793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">assets </span><span style="position: absolute; display: inline-block; left: 393.062px; top: 48.6855px; width: 47.2441px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">exchange </span><span style="position: absolute; display: inline-block; left: 137.328px; top: 60.6855px; width: 41.0273px; white-space: pre; word-spacing: 0.105px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">activities</span><span style="position: absolute; display: inline-block; left: 349.156px; top: 60.6855px; width: 39.4219px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 407.188px; top: 60.6855px; width: 32.4082px; white-space: pre; word-spacing: 0.084px; letter-spacing: -0.084px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">move-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 368px; top: 72.7012px; width: 18.9141px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">sale</span><span style="position: absolute; display: inline-block; left: 409.125px; top: 72.7012px; width: 29.7891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">ments</span><span style="position: absolute; display: inline-block; left: 0px; top: 97.668px; width: 53.1211px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Borrowings:</span><span style="position: absolute; display: inline-block; left: 0px; top: 112.248px; width: 73.8398px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bank and other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 124.248px; width: 561.117px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">credit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> institutions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,053<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.5469px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-88<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>973</span><span style="position: absolute; display: inline-block; left: 60.9844px; top: 139.023px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 0px; top: 139.139px; width: 61.3242px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Issued bonds</span><span style="position: absolute; display: inline-block; left: 106.234px; top: 139.139px; width: 454.33px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2,976<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>308<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>53<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>56<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,393</span><span style="position: absolute; display: inline-block; left: 179.141px; top: 153.914px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 0px; top: 154.029px; width: 178.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal borrowings<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,029<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>220</span><span style="position: absolute; display: inline-block; left: 218.812px; top: 154.045px; width: 342.598px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.4607px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>61<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>56<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,366</span><span style="position: absolute; display: inline-block; left: 0px; top: 183.826px; width: 60.334px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as </span><span style="position: absolute; display: inline-block; left: 0px; top: 195.826px; width: 561.557px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 49.4648px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,774<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396.757px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,169</span><span style="position: absolute; display: inline-block; left: 0px; top: 210.717px; width: 62.9004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as </span><span style="position: absolute; display: inline-block; left: 0px; top: 222.717px; width: 561.252px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 81.4395px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>255<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 406.226px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>197</span><span style="position: absolute; display: inline-block; left: 0px; top: 252.824px; width: 32.4609px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Leases:</span><span style="position: absolute; display: inline-block; left: 281.203px; top: 267.273px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">4</span><span style="position: absolute; display: inline-block; left: 0px; top: 267.404px; width: 280.365px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.0742px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11,614<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 8.86522px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3,226<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,268</span><span style="position: absolute; display: inline-block; left: 312.125px; top: 267.404px; width: 248.818px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-241<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-56<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.5998px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>84<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10,448</span><span style="position: absolute; display: inline-block; left: 0px; top: 297.186px; width: 60.334px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as </span><span style="position: absolute; display: inline-block; left: 0px; top: 309.186px; width: 561.557px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 49.4648px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8,582<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396.757px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,798</span><span style="position: absolute; display: inline-block; left: 0px; top: 324.076px; width: 62.9004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as </span><span style="position: absolute; display: inline-block; left: 0px; top: 336.076px; width: 561.281px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,032<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,650</span><span style="position: absolute; display: inline-block; left: 0px; top: 350.967px; width: 84.2637px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal borrowings </span><span style="position: absolute; display: inline-block; left: 0px; top: 362.967px; width: 560.906px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">and leases<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>15,643<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 8.86522px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-3,006<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,271<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.6758px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-241<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-56<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.6758px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>145<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>58<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>14,814</span><span style="position: absolute; display: inline-block; left: 0px; top: 392.764px; width: 88.4062px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Derivativ<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>es hedge </span><span style="position: absolute; display: inline-block; left: 0px; top: 404.764px; width: 561.141px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">of borrowings, net<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>532<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.5469px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-46<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-53<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.4961px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-81<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>352</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Other includes f<span class="_ _2"/>air <span class="_ _2"/>value changes and amortisation<span class="_ _2"/> of fees.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Of the t<span class="_ _2"/>otal issued bonds at 31 December<span class="_ _2"/> 2023<span class="_ _2"/>, USD 1.3bn ar<span class="_ _2"/>e green bonds primaril<span class="_ _2"/>y used t<span class="_ _2"/>o finance the construction </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of green methanol <span class="_ _2"/>vessels.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Cash flows from financing activities of USD 220m ar<span class="_ _2"/>e made up of repaymen<span class="_ _2"/>ts of borrowings of neg<span class="_ _2"/>ative USD 660m,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">adjusted for<span class="_ _2"/> cash flows fr<span class="_ _2"/>om hedges of USD 35m and pr<span class="_ _2"/>oceeds from borr<span class="_ _2"/>owings of USD 845m.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _9"> </span>Additions include USD 29m of lease liabilities from<span class="_ _2"/> businesses acquired during 2023<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The maturity anal<span class="_ _2"/>ysis of lease liabilities is disclosed in note 4.5<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:415.25px;"><span style="position: absolute; display: inline-block; left: 88.4375px; top: 0.0136718px; width: 42.1172px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Net debt <span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 157.062px; top: 0.0136718px; width: 406.418px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cash flows<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.268px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Non-cash changes<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.566px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Net debt <span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span></span><span style="position: absolute; display: inline-block; left: 66.3125px; top: 12.0137px; width: 61.5527px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">31 December</span><span style="position: absolute; display: inline-block; left: 500.625px; top: 12.0137px; width: 61.5527px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">31 December</span><span style="position: absolute; display: inline-block; left: 485.219px; top: 36.5547px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 105.453px; top: 36.6855px; width: 72.7559px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2021<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.3594px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">From</span></span><span style="position: absolute; display: inline-block; left: 203.156px; top: 36.6855px; width: 79.6523px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Addi- </span><span style="position: absolute; display: inline-block; left: 291.531px; top: 36.6855px; width: 98.0742px; white-space: pre; word-spacing: -2.562px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Dis posals<span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 4.20705px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, </span></span><span style="position: absolute; display: inline-block; left: 402.844px; top: 36.6855px; width: 37.957px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Foreign <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 458px; top: 36.6855px; width: 26.6426px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other</span><span style="position: absolute; display: inline-block; left: 535.375px; top: 36.6855px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2022</span><span style="position: absolute; display: inline-block; left: 136.062px; top: 48.6855px; width: 42.4336px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">financing</span><span style="position: absolute; display: inline-block; left: 257.672px; top: 48.6855px; width: 23.4785px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">tions</span><span style="position: absolute; display: inline-block; left: 357.219px; top: 48.6855px; width: 32.2793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">assets </span><span style="position: absolute; display: inline-block; left: 393.672px; top: 48.6855px; width: 47.2441px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">exchange </span><span style="position: absolute; display: inline-block; left: 137.453px; top: 60.6855px; width: 41.0273px; white-space: pre; word-spacing: 0.105px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">activities</span><span style="position: absolute; display: inline-block; left: 349.484px; top: 60.6855px; width: 39.4219px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 407.031px; top: 60.6855px; width: 32.4082px; white-space: pre; word-spacing: 0.084px; letter-spacing: -0.084px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">move-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 367.875px; top: 72.7012px; width: 18.9141px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">sale</span><span style="position: absolute; display: inline-block; left: 408.203px; top: 72.7012px; width: 29.7891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">ments</span><span style="position: absolute; display: inline-block; left: 0px; top: 97.668px; width: 53.1211px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Borrowings:</span><span style="position: absolute; display: inline-block; left: 0px; top: 112.248px; width: 73.8398px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bank and other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 124.248px; width: 561.387px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">credit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> institutions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 19.4824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,443<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-717<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-282<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.6758px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>612<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,053</span><span style="position: absolute; display: inline-block; left: 60.8125px; top: 139.023px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 0px; top: 139.139px; width: 61.3242px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Issued bonds</span><span style="position: absolute; display: inline-block; left: 103.531px; top: 139.139px; width: 458.52px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">3,341<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-177<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-188<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,976</span><span style="position: absolute; display: inline-block; left: 179.828px; top: 153.914px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 205.922px; top: 154.045px; width: 23.6895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">-282</span><span style="position: absolute; display: inline-block; left: 0px; top: 154.029px; width: 178.869px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal borrowings<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 20.7422px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,784<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-717</span><span style="position: absolute; display: inline-block; left: 261.297px; top: 154.045px; width: 299.947px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">612<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.0938px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-167<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-188<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,029</span><span style="position: absolute; display: inline-block; left: 0px; top: 183.826px; width: 60.334px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as </span><span style="position: absolute; display: inline-block; left: 0px; top: 195.826px; width: 560.895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.3866px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,315<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 400.17px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,774</span><span style="position: absolute; display: inline-block; left: 0px; top: 210.717px; width: 62.9004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as </span><span style="position: absolute; display: inline-block; left: 0px; top: 222.717px; width: 561.082px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 77.7716px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>436<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 409.721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>255</span><span style="position: absolute; display: inline-block; left: 0px; top: 252.824px; width: 32.4609px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Leases:</span><span style="position: absolute; display: inline-block; left: 280.562px; top: 267.273px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">5</span><span style="position: absolute; display: inline-block; left: 0px; top: 267.404px; width: 280.594px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10,551<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 12.7852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3,080<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,776</span><span style="position: absolute; display: inline-block; left: 311.75px; top: 267.404px; width: 248.877px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-433<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-173<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11,614</span><span style="position: absolute; display: inline-block; left: 0px; top: 297.186px; width: 60.334px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as </span><span style="position: absolute; display: inline-block; left: 0px; top: 309.186px; width: 560.895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.3866px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8,153<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 400.17px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8,582</span><span style="position: absolute; display: inline-block; left: 0px; top: 324.076px; width: 62.9004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as </span><span style="position: absolute; display: inline-block; left: 0px; top: 336.076px; width: 561.258px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,398<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 400.658px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,032</span><span style="position: absolute; display: inline-block; left: 0px; top: 350.967px; width: 84.2637px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal borrowings </span><span style="position: absolute; display: inline-block; left: 0px; top: 362.967px; width: 560.982px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">and leases<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>15,335<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 13.3535px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-3,797<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.0938px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-292<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,388<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.6758px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-433<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-26<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.0938px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-340<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-192<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>15,643</span><span style="position: absolute; display: inline-block; left: 0px; top: 392.764px; width: 88.4062px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Derivativ<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>es hedge </span><span style="position: absolute; display: inline-block; left: 0px; top: 404.764px; width: 561.135px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">of borrowings, net<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.3594px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>194<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.6758px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 14 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.0742px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>188<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.7852px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>136<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>532</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Other includes f<span class="_ _2"/>air <span class="_ _2"/>value changes and amortisation<span class="_ _2"/> of fees.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Of the t<span class="_ _2"/>otal issued bonds at 31 December<span class="_ _2"/> 2022,<span class="_ _2"/> USD 552m are gr<span class="_ _2"/>een bonds used to finance ac<span class="_ _2"/>quisitions of green methanol v<span class="_ _2"/>essels. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Cash flows from financing activities of nega<span class="_ _2"/>tive USD 717m<span class="_ _2"/> are made up of repa<span class="_ _2"/>yments of borrowings of ne<span class="_ _2"/>gative USD 800m,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and proceeds fr<span class="_ _2"/>om borrowings of USD<span class="_ _2"/> 83m.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _9"> </span>Cash flows fr<span class="_ _2"/>om other include a<span class="_ _2"/> decrease in cash ov<span class="_ _2"/>erdr<span class="_ _2"/>afts of USD 282m. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">5 <span class="_ _9"> </span>Additions include USD 571m of lease liabilities from businesses ac<span class="_ _2"/>quired during 2022.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The maturity anal<span class="_ _2"/>ysis of lease liabilities is disclosed in note 4.5<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial liabilities<span class="ff3"> are initially<span class="_ _2"/> reco<span class="_ _2"/>gnised at f<span class="_ _2"/>air <span class="_ _2"/>value less </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transaction<span class="_ _2"/> costs.<span class="_ _2"/> Subsequently<span class="_ _0"/>, the financial liabilities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are measur<span class="_ _2"/>ed at amortised cost<span class="_ _2"/> using the eff<span class="_ _2"/>ective inter<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">est method,<span class="_ _2"/> wher<span class="_ _2"/>eby <span class="_ _2"/>transaction costs and an<span class="_ _2"/>y pr<span class="_ _2"/>emium </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _2"/> discount ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised as financial expenses over<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">term of <span class="_ _2"/>the liabilities. Fix<span class="_ _2"/>ed interest<span class="_ _2"/> loans subject <span class="_ _2"/>to fair<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value hedge accoun<span class="_ _2"/>ting are measured a<span class="_ _2"/>t amortised cost<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with an adjustment<span class="_ _2"/> for<span class="_ _2"/> the fair<span class="_ _0"/> value of the hedg<span class="_ _2"/>ed inter<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">est component.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Lease liabilities<span class="ff3"> ar<span class="_ _2"/>e measured at<span class="_ _2"/> the presen<span class="_ _2"/>t <span class="_ _2"/>value of the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lease payments over<span class="_ _0"/> the lease term,<span class="_ _2"/> at <span class="_ _2"/>the inter<span class="_ _2"/>est r<span class="_ _2"/>ate </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">implicit in <span class="_ _2"/>the lease,<span class="_ _2"/> or<span class="_ _2"/> at <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s incremen-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tal borrowing r<span class="_ _2"/>ate (IBR).<span class="_ _2"/> <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s IBR reflects </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the Group’<span class="_ _2"/>s cr<span class="_ _2"/>edit risk,<span class="_ _2"/> leased amount, and con<span class="_ _2"/>tract<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dura<span class="_ _2"/>tion, as w<span class="_ _2"/>ell as the natur<span class="_ _2"/>e and quality of <span class="_ _2"/>the asset’<span class="_ _2"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">security and economic envir<span class="_ _2"/>onment in<span class="_ _2"/> which the leased </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets opera<span class="_ _2"/>te.<span class="_ _2"/> T<span class="_ _0"/>o determine <span class="_ _2"/>the IBR, <span class="_ _2"/>where possible,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk uses recent<span class="_ _2"/> thir<span class="_ _2"/>d-party financing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">received b<span class="_ _2"/>y the individual les<span class="_ _2"/>see as a starting point, <span class="_ _2"/>with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">adjustments t<span class="_ _2"/>o reflect chang<span class="_ _2"/>es in financing conditions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">since that<span class="_ _2"/> financing was r<span class="_ _2"/>eceived.<span class="_ _2"/> Wher<span class="_ _2"/>e such financing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is not av<span class="_ _2"/>ailable,<span class="_ _2"/> A.P<span class="_ _4"/>. Moller<span class="_ _0"/> - Maersk uses a build-up ap-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">proach <span class="_ _2"/>that starts <span class="_ _2"/>with a risk<span class="_ _2"/>- free int<span class="_ _2"/>erest<span class="_ _2"/> rat<span class="_ _2"/>e adjusted </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by cr<span class="_ _2"/>edit risk and specific risks f<span class="_ _2"/>aced by <span class="_ _2"/>the lessee such </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as asset type,<span class="_ _2"/> geogr<span class="_ _2"/>aphical risks,<span class="_ _2"/> etc.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Subsequently<span class="_ _0"/>, the lease liability<span class="_ _2"/> is measured at<span class="_ _2"/> amor-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tised cost with<span class="_ _2"/> each lease payment<span class="_ _2"/> allocated between <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">repaymen<span class="_ _2"/>t of the liability<span class="_ _2"/> and financing cost.<span class="_ _2"/> The finance </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost is char<span class="_ _2"/>ged to <span class="_ _2"/>the income statement<span class="_ _2"/> over<span class="_ _2"/> <span class="_ _2"/>the lease </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">period, using <span class="_ _2"/>the IBR that<span class="_ _2"/> was used <span class="_ _2"/>to discount<span class="_ _2"/> the lease </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The following lease pa<span class="_ _2"/>yments are included in <span class="_ _2"/>the net </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">present<span class="_ _2"/> value:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span>fixed payments (including in-substance fix<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments),<span class="_ _2"/> less any lease incen<span class="_ _2"/>tives receiv<span class="_ _2"/>able</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span>variable lease paymen<span class="_ _2"/>ts that<span class="_ _2"/> are based on an index </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">o<span class="_ _1"/>r a<span class="_ _1"/> ra<span class="_ _1"/>t<span class="_ _1"/>e</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span>amounts expected <span class="_ _2"/>to be pay<span class="_ _2"/>able by <span class="_ _2"/>the lessee under<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">residual v<span class="_ _2"/>alue guarantees</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span><span class="ws0">the exercise price of a<span class="_ _2"/> purchase option if <span class="_ _2"/>the lessee is </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reasonabl<span class="_ _2"/>y certain <span class="_ _2"/>to exer<span class="_ _2"/>cise that<span class="_ _2"/> option, and pay<span class="_ _0"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments of penalties f<span class="_ _2"/>or <span class="_ _2"/>terminating <span class="_ _2"/>the lease,<span class="_ _2"/> if the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lease term<span class="_ _2"/> reflects the les<span class="_ _2"/>see exercising <span class="_ _2"/>that option.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Extension and <span class="_ _2"/>termination options in lease contr<span class="_ _2"/>acts ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">included in contr<span class="_ _2"/>acts where it<span class="_ _2"/> is reasonabl<span class="_ _2"/>y certain <span class="_ _2"/>that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _3"/>. Moller - M<span class="_ _1"/>aers<span class="_ _1"/>k will exercise <span class="_ _2"/>the options.<span class="_ _2"/> These <span class="_ _2"/>terms </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are used <span class="_ _2"/>to maximise oper<span class="_ _2"/>ational flexibility in <span class="_ _2"/>terms of<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">managing contr<span class="_ _2"/>acts. In<span class="_ _2"/> determining the lease <span class="_ _2"/>term,<span class="_ _2"/> Man-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">agement c<span class="_ _2"/>onsiders all facts and cir<span class="_ _2"/>cumstances that<span class="_ _2"/> cre-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ate an economic incentiv<span class="_ _2"/>e to ex<span class="_ _2"/>ercise an ext<span class="_ _2"/>ension option </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _2"/> to not<span class="_ _2"/> exercise a<span class="_ _2"/> termination<span class="_ _2"/> option. Extension<span class="_ _2"/> opti<span class="_ _1"/>ons </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(or<span class="_ _2"/> periods after<span class="_ _2"/> termination<span class="_ _2"/> options) are only<span class="_ _2"/> included </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the lease <span class="_ _2"/>term if it<span class="_ _2"/> is reasonably<span class="_ _2"/> certain tha<span class="_ _2"/>t the lease<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">will be extended or<span class="_ _0"/> not terminate<span class="_ _2"/>. Most<span class="_ _2"/> of the ext<span class="_ _2"/>en<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sion and t<span class="_ _2"/>ermination options held are ex<span class="_ _2"/>ercisable only<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk and not<span class="_ _2"/> by <span class="_ _2"/>the respective lessor<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">This assessment is r<span class="_ _2"/>eviewed if a significan<span class="_ _2"/>t event<span class="_ _2"/> or<span class="_ _2"/> a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">significant change in<span class="_ _2"/> circumstances occurs which<span class="_ _2"/> affects </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">this assessment,<span class="_ _2"/> and which is within <span class="_ _2"/>the control of <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lessee.<span class="_ _2"/> Wher<span class="_ _2"/>e A.P<span class="_ _4"/>. Moller<span class="_ _0"/> - Maersk will probably<span class="_ _2"/> exer<span class="_ _2"/>cise </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">specific purchase options,<span class="_ _2"/> <span class="_ _2"/>those options are included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the measurement<span class="_ _2"/> of the lease liability<span class="_ _2"/> with corr<span class="_ _2"/>esponding </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">right<span class="_ _2"/>-of-use asset depr<span class="_ _2"/>eciated over<span class="_ _0"/> the asset’s useful lif<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _2"/>ther than<span class="_ _2"/> lease term.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Right-of<span class="_ _2"/>-use assets<span class="ff3"> are mainl<span class="_ _2"/>y leased <span class="_ _2"/>vessels,<span class="_ _2"/> containers,<span class="_ _2"/> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">concession arr<span class="_ _2"/>angements and real esta<span class="_ _2"/>te property<span class="_ _0"/>. Lease </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contr<span class="_ _2"/>acts for<span class="_ _2"/> vessels and con<span class="_ _2"/>tainers are <span class="_ _2"/>typically<span class="_ _2"/> made </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _2"/> fixed periods of about<span class="_ _2"/> five years<span class="_ _2"/>, but<span class="_ _2"/> may hav<span class="_ _2"/>e exten-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sion options as described t<span class="_ _2"/>ogether<span class="_ _2"/> with lease liabilities.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Concession arr<span class="_ _2"/>angements and real esta<span class="_ _2"/>te contr<span class="_ _2"/>acts are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">negotiat<span class="_ _2"/>ed on an individual basis and contain a <span class="_ _2"/>wide </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rang<span class="_ _2"/>e of terms and conditions<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Leases are r<span class="_ _2"/>ecognised as a right<span class="_ _2"/>-of-use asset<span class="_ _2"/> with a <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">corresponding lease liability<span class="_ _2"/> at <span class="_ _2"/>the date on which<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">leased asset is av<span class="_ _2"/>ailable for<span class="_ _2"/> use.<span class="_ _2"/> The righ<span class="_ _2"/>t-of-use asset<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is depreciat<span class="_ _2"/>ed over<span class="_ _2"/> the shorter<span class="_ _0"/> of the asset’s useful lif<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the lease <span class="_ _2"/>term on a str<span class="_ _2"/>aight<span class="_ _2"/>-line basis.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Payments associat<span class="_ _2"/>ed with short<span class="_ _2"/>-t<span class="_ _2"/>erm leases and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">leases of low-<span class="_ _2"/>value assets ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised on a str<span class="_ _2"/>aight<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">line basis as an expense in <span class="_ _2"/>the income statement.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Lease liabilities<span class="ff3"> ar<span class="_ _2"/>e measured at<span class="_ _2"/> the presen<span class="_ _2"/>t <span class="_ _2"/>value of the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lease payments over<span class="_ _0"/> the lease term,<span class="_ _2"/> at <span class="_ _2"/>the inter<span class="_ _2"/>est r<span class="_ _2"/>ate </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">implicit in <span class="_ _2"/>the lease,<span class="_ _2"/> or<span class="_ _2"/> at <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s incremen-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tal borrowing r<span class="_ _2"/>ate (IBR).<span class="_ _2"/> <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s IBR reflects </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the Group’<span class="_ _2"/>s cr<span class="_ _2"/>edit risk,<span class="_ _2"/> leased amount, and con<span class="_ _2"/>tract<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dura<span class="_ _2"/>tion, as w<span class="_ _2"/>ell as the natur<span class="_ _2"/>e and quality of <span class="_ _2"/>the asset’<span class="_ _2"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">security and economic envir<span class="_ _2"/>onment in<span class="_ _2"/> which the leased </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets opera<span class="_ _2"/>te.<span class="_ _2"/> T<span class="_ _0"/>o determine <span class="_ _2"/>the IBR, <span class="_ _2"/>where possible,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk uses recent<span class="_ _2"/> thir<span class="_ _2"/>d-party financing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">received b<span class="_ _2"/>y the individual les<span class="_ _2"/>see as a starting point, <span class="_ _2"/>with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">adjustments t<span class="_ _2"/>o reflect chang<span class="_ _2"/>es in financing conditions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">since that<span class="_ _2"/> financing was r<span class="_ _2"/>eceived.<span class="_ _2"/> Wher<span class="_ _2"/>e such financing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is not av<span class="_ _2"/>ailable,<span class="_ _2"/> A.P<span class="_ _4"/>. Moller<span class="_ _0"/> - Maersk uses a build-up ap-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">proach <span class="_ _2"/>that starts <span class="_ _2"/>with a risk<span class="_ _2"/>- free int<span class="_ _2"/>erest<span class="_ _2"/> rat<span class="_ _2"/>e adjusted </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by cr<span class="_ _2"/>edit risk and specific risks f<span class="_ _2"/>aced by <span class="_ _2"/>the lessee such </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as asset type,<span class="_ _2"/> geogr<span class="_ _2"/>aphical risks,<span class="_ _2"/> etc.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Subsequently<span class="_ _0"/>, the lease liability<span class="_ _2"/> is measured at<span class="_ _2"/> amor-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tised cost with<span class="_ _2"/> each lease payment<span class="_ _2"/> allocated between <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">repaymen<span class="_ _2"/>t of the liability<span class="_ _2"/> and financing cost.<span class="_ _2"/> The finance </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost is char<span class="_ _2"/>ged to <span class="_ _2"/>the income statement<span class="_ _2"/> over<span class="_ _2"/> <span class="_ _2"/>the lease </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">period, using <span class="_ _2"/>the IBR that<span class="_ _2"/> was used <span class="_ _2"/>to discount<span class="_ _2"/> the lease </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The following lease pa<span class="_ _2"/>yments are included in <span class="_ _2"/>the net </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">present<span class="_ _2"/> value:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span>fixed payments (including in-substance fix<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments),<span class="_ _2"/> less any lease incen<span class="_ _2"/>tives receiv<span class="_ _2"/>able</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span>variable lease paymen<span class="_ _2"/>ts that<span class="_ _2"/> are based on an index </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">o<span class="_ _1"/>r a<span class="_ _1"/> ra<span class="_ _1"/>t<span class="_ _1"/>e</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span>amounts expected <span class="_ _2"/>to be pay<span class="_ _2"/>able by <span class="_ _2"/>the lessee under<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">residual v<span class="_ _2"/>alue guarantees</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span><span class="ws0">the exercise price of a<span class="_ _2"/> purchase option if <span class="_ _2"/>the lessee is </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reasonabl<span class="_ _2"/>y certain <span class="_ _2"/>to exer<span class="_ _2"/>cise that<span class="_ _2"/> option, and pay<span class="_ _0"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments of penalties f<span class="_ _2"/>or <span class="_ _2"/>terminating <span class="_ _2"/>the lease,<span class="_ _2"/> if the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lease term<span class="_ _2"/> reflects the les<span class="_ _2"/>see exercising <span class="_ _2"/>that option.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Extension and <span class="_ _2"/>termination options in lease contr<span class="_ _2"/>acts ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">included in contr<span class="_ _2"/>acts where it<span class="_ _2"/> is reasonabl<span class="_ _2"/>y certain <span class="_ _2"/>that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _3"/>. Moller - M<span class="_ _1"/>aers<span class="_ _1"/>k will exercise <span class="_ _2"/>the options.<span class="_ _2"/> These <span class="_ _2"/>terms </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are used <span class="_ _2"/>to maximise oper<span class="_ _2"/>ational flexibility in <span class="_ _2"/>terms of<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">managing contr<span class="_ _2"/>acts. In<span class="_ _2"/> determining the lease <span class="_ _2"/>term,<span class="_ _2"/> Man-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">agement c<span class="_ _2"/>onsiders all facts and cir<span class="_ _2"/>cumstances that<span class="_ _2"/> cre-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ate an economic incentiv<span class="_ _2"/>e to ex<span class="_ _2"/>ercise an ext<span class="_ _2"/>ension option </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _2"/> to not<span class="_ _2"/> exercise a<span class="_ _2"/> termination<span class="_ _2"/> option. Extension<span class="_ _2"/> opti<span class="_ _1"/>ons </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(or<span class="_ _2"/> periods after<span class="_ _2"/> termination<span class="_ _2"/> options) are only<span class="_ _2"/> included </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the lease <span class="_ _2"/>term if it<span class="_ _2"/> is reasonably<span class="_ _2"/> certain tha<span class="_ _2"/>t the lease<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">will be extended or<span class="_ _0"/> not terminate<span class="_ _2"/>. Most<span class="_ _2"/> of the ext<span class="_ _2"/>en<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sion and t<span class="_ _2"/>ermination options held are ex<span class="_ _2"/>ercisable only<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk and not<span class="_ _2"/> by <span class="_ _2"/>the respective lessor<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">This assessment is r<span class="_ _2"/>eviewed if a significan<span class="_ _2"/>t event<span class="_ _2"/> or<span class="_ _2"/> a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">significant change in<span class="_ _2"/> circumstances occurs which<span class="_ _2"/> affects </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">this assessment,<span class="_ _2"/> and which is within <span class="_ _2"/>the control of <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lessee.<span class="_ _2"/> Wher<span class="_ _2"/>e A.P<span class="_ _4"/>. Moller<span class="_ _0"/> - Maersk will probably<span class="_ _2"/> exer<span class="_ _2"/>cise </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">specific purchase options,<span class="_ _2"/> <span class="_ _2"/>those options are included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the measurement<span class="_ _2"/> of the lease liability<span class="_ _2"/> with corr<span class="_ _2"/>esponding </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">right<span class="_ _2"/>-of-use asset depr<span class="_ _2"/>eciated over<span class="_ _0"/> the asset’s useful lif<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _2"/>ther than<span class="_ _2"/> lease term.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 3.<span class="_ _2"/>4 <span class="_"> </span>Ac<span class="_ _2"/>quisition/<span class="_ _2"/>sale of subsidiaries and activities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:309.765625px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 121.143px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Acquisitions during 2023</span><span style="position: absolute; display: inline-block; left: 480.969px; top: 24.5547px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 296.859px; top: 24.6855px; width: 34.043px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Martin </span><span style="position: absolute; display: inline-block; left: 363.406px; top: 24.6855px; width: 117.902px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Grindrod <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Other</span><span style="position: absolute; display: inline-block; left: 534px; top: 24.6855px; width: 26.4434px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 289.812px; top: 36.6855px; width: 38.6836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bencher</span><span style="position: absolute; display: inline-block; left: 531.078px; top: 36.6855px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023</span><span style="position: absolute; display: inline-block; left: 0px; top: 61.668px; width: 140.402px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/>value at time of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> acquisition</span><span style="position: absolute; display: inline-block; left: 0px; top: 75.8262px; width: 557.068px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Intangible assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 234.779px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14</span><span style="position: absolute; display: inline-block; left: 0px; top: 89.873px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Property, plant<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> and equipment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 175.746px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>43<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>44</span><span style="position: absolute; display: inline-block; left: 0px; top: 103.904px; width: 556.641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 246.879px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>54<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>59</span><span style="position: absolute; display: inline-block; left: 0px; top: 117.951px; width: 556.963px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Provisions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 272.584px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2</span><span style="position: absolute; display: inline-block; left: 0px; top: 131.982px; width: 556.652px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 269.865px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>33<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>34<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-50<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17</span><span style="position: absolute; display: inline-block; left: 0px; top: 146.029px; width: 556.857px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net assets acquired<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 220.16px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>42<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>29<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>27<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>98</span><span style="position: absolute; display: inline-block; left: 0px; top: 160.061px; width: 557.016px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Non-control<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ling inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ests<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 204.533px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-20<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-20</span><span style="position: absolute; display: inline-block; left: 0px; top: 174.107px; width: 557.051px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">A.P<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>. Møl<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ler - Mærsk <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>A/S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>’<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> share<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 169.342px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>42<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>27<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>78</span><span style="position: absolute; display: inline-block; left: 0px; top: 188.139px; width: 556.758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Goodwill<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 273.363px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-26<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-</span><span style="position: absolute; display: inline-block; left: 0px; top: 203.029px; width: 556.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Purchase price<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.148px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>53<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>24<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>78</span><span style="position: absolute; display: inline-block; left: 0px; top: 217.061px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Change in pay<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables on purchase price, et<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>c.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 124.131px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>28<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>28</span><span style="position: absolute; display: inline-block; left: 0px; top: 231.107px; width: 557.227px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Contingent<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> consideration<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> assumed<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 161.069px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.5781px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-7<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-7</span><span style="position: absolute; display: inline-block; left: 0px; top: 245.139px; width: 557.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Contingent<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> consideration<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> paid<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 182.338px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>67<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>67</span><span style="position: absolute; display: inline-block; left: 0px; top: 259.186px; width: 557.098px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cash and bank balances assumed<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.914px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-17</span><span style="position: absolute; display: inline-block; left: 0px; top: 272.482px; width: 556.781px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Non-cash consider<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 212.074px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-9</span><span style="position: absolute; display: inline-block; left: 0px; top: 287.264px; width: 161.279px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Cash flow used for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> acquisition of </span><span style="position: absolute; display: inline-block; left: 0px; top: 299.279px; width: 557.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">subsidiaries and activities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.09px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>38<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>87<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>140</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Relate <span class="_ _2"/>to changes in the pr<span class="_ _2"/>ovisional amounts of 2022 business combinations <span class="_ _2"/>taken up as 2023 adjustments<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Martin Bencher<span class="_ _2"/> <span class="_ _2"/>Group (Logistics &amp; Services) </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">On 2 January<span class="_ _2"/> 2023,<span class="_ _2"/> the Gr<span class="_ _2"/>oup acquir<span class="_ _2"/>ed 100% of the shares in<span class="_ _2"/> Martin Bencher<span class="_ _2"/> Group,<span class="_ _2"/> a Denmark<span class="_ _2"/>-based pr<span class="_ _2"/>oject logistics </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">company <span class="_ _2"/>with premium compet<span class="_ _2"/>encies within non-containerised pr<span class="_ _2"/>oject logistics<span class="_ _2"/>. <span class="_ _2"/>The acquisition of Martin Bencher<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Group wil<span class="_ _2"/>l complement <span class="_ _2"/>the existing project<span class="_ _2"/> logistics services alr<span class="_ _2"/>eady av<span class="_ _2"/>ailable at <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk,<span class="_ _2"/> with a specialised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">service offering <span class="_ _2"/>the combination of solution design,<span class="_ _2"/> special cargo <span class="_ _2"/>transporta<span class="_ _2"/>tion and project<span class="_ _2"/> management services<span class="_ _2"/>. It<span class="_ _2"/> wil<span class="_ _1"/>l </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">build on existing infr<span class="_ _2"/>astructures and know<span class="_ _2"/>-how across <span class="_ _2"/>the existing Project<span class="_ _2"/> Logistics v<span class="_ _2"/>ertical in Sales &amp; Marketing,<span class="_ _2"/> Ocean </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and Logistics &amp; Services Special Project<span class="_ _2"/> Logistics (SPL).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The purchase price is USD 53m<span class="_ _2"/> and result<span class="_ _2"/>ed in goodwill of USD 11m.<span class="_ _2"/> <span class="_ _2"/>Acquired goodwil<span class="_ _2"/>l is not allo<span class="_ _2"/>wable for<span class="_ _2"/> tax purposes<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Martin Bencher<span class="_ _2"/> contributed r<span class="_ _2"/>evenue of USD 160m<span class="_ _2"/> and an insignificant net<span class="_ _2"/> profit<span class="_ _2"/> to <span class="_ _2"/>the Group equiv<span class="_ _2"/>alent <span class="_ _2"/>to its entir<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rev<span class="_ _2"/>enue and net pro<span class="_ _2"/>fit in 2023<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Grindrod Intermodal Group (L<span class="_ _2"/>ogistics &amp; Services)</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">On 2 January<span class="_ _2"/> 2023,<span class="_ _2"/> the Gr<span class="_ _2"/>oup completed <span class="_ _2"/>the acquisition of Grindrod Lo<span class="_ _2"/>gistics.<span class="_ _2"/> The Gr<span class="_ _2"/>oup partnered with<span class="_ _2"/> Grindrod <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Int<span class="_ _2"/>er <span class="_ _1f"/>modal Group to mer<span class="_ _2"/>ge the logistics activities of Grindr<span class="_ _2"/>od Intermodal business and <span class="_ _2"/>the ocean activities of the<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ocea<span class="_ _1"/>n Africa Container<span class="_ _0"/> Lines (OACL) with the curr<span class="_ _2"/>ent <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk Logistics &amp; Services pr<span class="_ _2"/>oducts in South <span class="_ _2"/>Africa. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Grindrod Int<span class="_ _2"/>ermodal Group is a w<span class="_ _2"/>ell-known and <span class="_ _2"/>trusted partner<span class="_ _2"/> in South <span class="_ _2"/>Africa with a r<span class="_ _2"/>ange of logistics and services </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">offerings.<span class="_ _2"/> <span class="_ _2"/>The Group has a contr<span class="_ _2"/>olling int<span class="_ _2"/>erest<span class="_ _2"/> of 51%. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The purchase price and non-contr<span class="_ _2"/>olling int<span class="_ _2"/>erest<span class="_ _2"/> amounted t<span class="_ _2"/>o USD 44m and resul<span class="_ _2"/>ted in goodwil<span class="_ _2"/>l of USD 15m. <span class="_ _2"/>Acquir<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">goodwill is not<span class="_ _2"/> allowable f<span class="_ _2"/>or <span class="_ _2"/>tax purposes.<span class="_ _2"/> The non-c<span class="_ _2"/>ontrolling in<span class="_ _2"/>terest<span class="_ _2"/> in Grindrod is measur<span class="_ _2"/>ed at <span class="_ _2"/>the non-control<span class="_ _2"/>ling </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inter<span class="_ _2"/>est’s pr<span class="_ _2"/>oportionate shar<span class="_ _2"/>e of the acquir<span class="_ _2"/>ed net identifiable assets<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Grindrod contribut<span class="_ _2"/>ed revenue of USD<span class="_ _2"/> 42m and an insignificant<span class="_ _2"/> net pr<span class="_ _2"/>ofit t<span class="_ _2"/>o the Gr<span class="_ _2"/>oup equivalent<span class="_ _2"/> to its entir<span class="_ _2"/>e rev<span class="_ _2"/>enue </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and net pr<span class="_ _2"/>ofit in 2023<span class="_ _2"/>.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In Q4 2023<span class="_ _2"/>, <span class="_ _2"/>the purchase price alloca<span class="_ _2"/>tions for<span class="_ _2"/> the 2023 business combinations <span class="_ _2"/>were finalised.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:321.75px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 121.143px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Acquisitions during 2022</span><span style="position: absolute; display: inline-block; left: 197.438px; top: 24.6855px; width: 362.83px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">LF<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> Logistics<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Pilot<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Senator <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 532.141px; top: 36.6855px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 61.668px; width: 140.402px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/>value at time of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> acquisition</span><span style="position: absolute; display: inline-block; left: 0px; top: 75.8262px; width: 559.582px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Intangible assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.478px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 807 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.8261px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 650 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.8261px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 223 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 7 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 1,687 </span><span style="position: absolute; display: inline-block; left: 0px; top: 89.873px; width: 559.312px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Property, plant<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> and equipment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 83.8418px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 533 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.8261px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 185 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 48 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 14 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.8261px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 780 </span><span style="position: absolute; display: inline-block; left: 0px; top: 103.904px; width: 559.559px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Financial assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 154.916px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 110 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.7989px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 4 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.7989px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 6 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.8261px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 120 </span><span style="position: absolute; display: inline-block; left: 0px; top: 117.951px; width: 559.324px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Deferr<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed tax assets<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.266px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> 5 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.7989px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 5 </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 131.982px; width: 559.518px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 161.069px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 436 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 271 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.8261px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 398 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 6 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 1,111 </span><span style="position: absolute; display: inline-block; left: 0px; top: 146.029px; width: 559.652px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Provisions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 187.319px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 18 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.7989px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 4 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 22 </span><span style="position: absolute; display: inline-block; left: 0px; top: 160.061px; width: 559.23px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 184.324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 793 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 1,207 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.8261px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 316 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 24 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 2,340 </span><span style="position: absolute; display: inline-block; left: 0px; top: 174.107px; width: 559.395px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net assets acquired<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.103px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 1,080 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-101<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 359 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 3 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 1,341 </span><span style="position: absolute; display: inline-block; left: 0px; top: 188.139px; width: 556.975px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">A.P<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>. Møl<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ler - Mærsk <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>A/S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>’<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> share<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 76.4591px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,080<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-101<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>359<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,341</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.186px; width: 559.57px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Goodwill<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 178.148px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 2,291 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 1,145 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.8261px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 225 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 6 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 3,667 </span><span style="position: absolute; display: inline-block; left: 0px; top: 217.061px; width: 556.945px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Purchase price<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.266px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,371<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,044<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>584<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,008</span><span style="position: absolute; display: inline-block; left: 0px; top: 231.107px; width: 154.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Change in pay<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables on purchase </span><span style="position: absolute; display: inline-block; left: 0px; top: 243.107px; width: 556.717px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">price, etc.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 186.522px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-24<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 8 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.3906px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-16</span><span style="position: absolute; display: inline-block; left: 0px; top: 257.139px; width: 556.746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Contingent<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> consideration<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> assumed<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.9511px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-60<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.3906px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-60</span><span style="position: absolute; display: inline-block; left: 0px; top: 271.186px; width: 557.168px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Contingent<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> consideration<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> paid<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 103.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 19 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>19</span><span style="position: absolute; display: inline-block; left: 0px; top: 285.217px; width: 556.852px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cash and bank balances assumed<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.9511px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-126<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-40<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-177</span><span style="position: absolute; display: inline-block; left: 0px; top: 299.264px; width: 161.279px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Cash flow used for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> acquisition of </span><span style="position: absolute; display: inline-block; left: 0px; top: 311.264px; width: 559.295px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">subsidiaries and activities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 94.8341px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 3,161 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 1,062 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 544 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 7 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 4,774 </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">LF<span class="_ _2"/> Logistics Holdings Limited (L<span class="_ _2"/>ogistics &amp; Services) </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">On 31 <span class="_ _2"/>August 2022,<span class="_ _2"/> the Gr<span class="_ _2"/>oup signed an agreement<span class="_ _2"/> t<span class="_ _2"/>o acquire 100% of <span class="_ _2"/>the shares in LF<span class="_ _0"/> Logistics Holdings Limited, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a leading omnichannel fulfilment<span class="_ _2"/> contract<span class="_ _2"/> logistics company<span class="_ _2"/> in <span class="_ _2"/>Asia Pacific.<span class="_ _2"/> The acquisition further<span class="_ _0"/> strengthens </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s capabilities as an integr<span class="_ _2"/>ated con<span class="_ _2"/>tainer lo<span class="_ _2"/>gistics company<span class="_ _0"/>, offering global end-<span class="_ _2"/>to-end supply<span class="_ _2"/> chain </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">solutions to its cust<span class="_ _2"/>omers. <span class="_ _2"/>The <span class="_ _2"/>total purchase price <span class="_ _2"/>was USD 3<span class="_ _2"/>.3bn, <span class="_ _2"/>which included the f<span class="_ _2"/>air <span class="_ _2"/>value of conting<span class="_ _2"/>ent consid<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">eration of USD 60m,<span class="_ _2"/> contingent<span class="_ _2"/> upon LF<span class="_ _2"/> Logistics’<span class="_ _0"/> future financial perf<span class="_ _2"/>ormance, and has a<span class="_ _2"/> maximum payment<span class="_ _2"/> value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD 160m.<span class="_ _2"/> As of 31 December<span class="_ _0"/> 2023, <span class="_ _2"/>the fair<span class="_ _2"/> v<span class="_ _2"/>alue of contingent<span class="_ _2"/> considera<span class="_ _2"/>tion was USD<span class="_ _2"/> 10m. Of <span class="_ _2"/>the consideration<span class="_ _2"/> paid, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD 2.3bn w<span class="_ _2"/>as related <span class="_ _2"/>to goodwil<span class="_ _2"/>l, while USD<span class="_ _2"/> 806m was r<span class="_ _2"/>elated <span class="_ _2"/>to intangible assets,<span class="_ _2"/> mainly<span class="_ _2"/> customer<span class="_ _2"/> relationships<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD 177m was r<span class="_ _2"/>elated <span class="_ _2"/>to tr<span class="_ _2"/>ade r<span class="_ _2"/>eceivables,<span class="_ _2"/> and USD 362m <span class="_ _2"/>was relat<span class="_ _2"/>ed to RoU as<span class="_ _2"/>sets. Liabilities <span class="_ _2"/>were mainl<span class="_ _2"/>y rela<span class="_ _2"/>ted to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trade pa<span class="_ _2"/>yables and lease liabilities.<span class="_ _2"/> Goodwill w<span class="_ _2"/>as mainly a<span class="_ _2"/>ttributable to commer<span class="_ _2"/>cial and opera<span class="_ _2"/>tional future expected </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">synergies<span class="_ _2"/>, driven<span class="_ _2"/> by cr<span class="_ _2"/>oss-selling and impro<span class="_ _2"/>ved productivity<span class="_ _0"/>. <span class="_ _2"/>Acquired goodwil<span class="_ _2"/>l is not allow<span class="_ _2"/>able for<span class="_ _2"/> tax purposes<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>From <span class="_ _2"/>the acquisition date <span class="_ _2"/>to 31 December<span class="_ _2"/> 2022,<span class="_ _2"/> LF<span class="_ _2"/> Logistics contributed r<span class="_ _2"/>evenue of USD 360m and an<span class="_ _2"/> insignificant net </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">profit.<span class="_ _2"/> Had the acquisition<span class="_ _2"/> occurred on 1 <span class="_ _2"/>January 2022,<span class="_ _2"/> the impact<span class="_ _2"/> on the Gr<span class="_ _2"/>oup’<span class="_ _2"/>s revenue <span class="_ _2"/>would have been USD<span class="_ _2"/> 1,01<span class="_ _1"/>3m. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The net pr<span class="_ _2"/>ofit impact<span class="_ _2"/> to <span class="_ _2"/>the Group would ha<span class="_ _2"/>ve been USD 42m,<span class="_ _2"/> including amortisation of intangible assets r<span class="_ _2"/>ecogni<span class="_ _2"/>sed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the acquisition.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Acquisition-relat<span class="_ _2"/>ed costs of USD 12m wer<span class="_ _2"/>e reco<span class="_ _2"/>gnised as opera<span class="_ _2"/>ting costs in the income stat<span class="_ _2"/>ement of <span class="_ _2"/>the Logistics </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">&amp; Services segment<span class="_ _2"/> in 2021, and in<span class="_ _2"/> operating cash<span class="_ _2"/> flow in the cash flo<span class="_ _2"/>w statement in<span class="_ _2"/> 2022. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Pilot Freight Services (Logistics &amp; Services) </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">On 2 May<span class="_ _2"/> 2022, <span class="_ _2"/>the Group acquir<span class="_ _2"/>ed 100% of the shar<span class="_ _2"/>es in Pilot Fr<span class="_ _2"/>eight Services,<span class="_ _2"/> a US<span class="_ _2"/>-based first, middle and last<span class="_ _2"/> mile </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cross-bor<span class="_ _2"/>der<span class="_ _2"/> solutions provider<span class="_ _0"/>. Pilot<span class="_ _2"/> has specialised in the big and bulk<span class="_ _2"/>y fr<span class="_ _2"/>eight segment<span class="_ _2"/> in North <span class="_ _2"/>America. Pilot<span class="_ _2"/> Freight<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Services will add specific new services <span class="_ _2"/>within the f<span class="_ _2"/>ast-gr<span class="_ _2"/>owing big and bulky<span class="_ _2"/> e-commerce se<span class="_ _2"/>gment <span class="_ _2"/>to the Gr<span class="_ _2"/>oup,<span class="_ _2"/> thus </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">increasing cr<span class="_ _2"/>oss-selling opportunities.<span class="_ _2"/> <span class="_ _2"/>The total pur<span class="_ _2"/>chase price was USD<span class="_ _2"/> 1.6bn, of <span class="_ _2"/>which USD 597<span class="_ _2"/>m w<span class="_ _2"/>as relat<span class="_ _2"/>ed to <span class="_ _2"/>the set<span class="_ _2"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tlement of debt.<span class="_ _2"/> In Q2 2023<span class="_ _2"/>, <span class="_ _2"/>the pro<span class="_ _2"/>visional purchase price alloca<span class="_ _2"/>tion was finalised,<span class="_ _2"/> resul<span class="_ _2"/>ting in a reduction<span class="_ _2"/> of goodwill </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of USD 30m,<span class="_ _2"/> primarily r<span class="_ _2"/>elated <span class="_ _2"/>to the <span class="_ _2"/>valuation of cust<span class="_ _2"/>omer<span class="_ _2"/> relationships and def<span class="_ _2"/>erred tax liabilities<span class="_ _2"/>. Of <span class="_ _2"/>the consider<span class="_ _2"/>ation </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">paid, USD<span class="_ _2"/> 1.<span class="_ _0"/>1bn was rela<span class="_ _2"/>ted to g<span class="_ _2"/>oodwill,<span class="_ _2"/> while USD 640m w<span class="_ _2"/>as relat<span class="_ _2"/>ed to intangible assets<span class="_ _2"/>, mainly<span class="_ _2"/> customer<span class="_ _2"/> r<span class="_ _2"/>elationships.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD 226m w<span class="_ _2"/>as relat<span class="_ _2"/>ed to <span class="_ _2"/>trade r<span class="_ _2"/>eceivables<span class="_ _2"/>, and USD 17<span class="_ _0"/>4m was r<span class="_ _2"/>elated <span class="_ _2"/>to RoU assets.<span class="_ _2"/> Liabilities wer<span class="_ _2"/>e mainly r<span class="_ _2"/>elated <span class="_ _2"/>to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trade pa<span class="_ _2"/>yables,<span class="_ _2"/> lease liabilities and debt settled as part<span class="_ _2"/> of the <span class="_ _2"/>transaction.<span class="_ _2"/> Goodwill <span class="_ _2"/>was mainly<span class="_ _2"/> attributable to commer<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cial and opera<span class="_ _2"/>tional future expected s<span class="_ _2"/>ynergies,<span class="_ _2"/> driven by<span class="_ _2"/> cross-sel<span class="_ _2"/>ling, network optimisa<span class="_ _2"/>tions and improved pr<span class="_ _2"/>oductivity<span class="_ _2"/>.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Goodwill of USD 96m r<span class="_ _2"/>elated <span class="_ _2"/>to the acquisition<span class="_ _2"/> is expected t<span class="_ _2"/>o be deductible for<span class="_ _2"/> tax purposes.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>From <span class="_ _2"/>the acquisition date <span class="_ _2"/>to 31 December<span class="_ _2"/> 2022,<span class="_ _2"/> Pilot Freight<span class="_ _2"/> Services contributed r<span class="_ _2"/>evenue of USD 98<span class="_ _2"/>7m and an<span class="_ _2"/> insig<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nificant net<span class="_ _2"/> profit.<span class="_ _2"/> Had the acquisition<span class="_ _2"/> occurred on 1 <span class="_ _2"/>January 2022,<span class="_ _2"/> the impact<span class="_ _2"/> on the Gr<span class="_ _2"/>oup’<span class="_ _2"/>s revenue <span class="_ _2"/>would have been </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD 1.5bn.<span class="_ _2"/> The net<span class="_ _2"/> profit<span class="_ _2"/> impact <span class="_ _2"/>to the Gr<span class="_ _2"/>oup would have been<span class="_ _2"/> insignificant. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Acquisition-rela<span class="_ _2"/>ted costs of USD 15m <span class="_ _2"/>were r<span class="_ _2"/>ecognised as oper<span class="_ _2"/>ating costs in the inc<span class="_ _2"/>ome statement of <span class="_ _2"/>the Logistics </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">&amp; Services segment in 2021 and 2022,<span class="_ _2"/> and in oper<span class="_ _2"/>ating cash flow in <span class="_ _2"/>the cash flow statemen<span class="_ _2"/>t in 2022.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Senator<span class="_ _2"/> International (Logistics &amp; Services) </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">On 2 June 2022,<span class="_ _2"/> the Gr<span class="_ _2"/>oup acquired 100% of <span class="_ _2"/>the shares in<span class="_ _2"/> Senator<span class="_ _2"/> International,<span class="_ _2"/> a wel<span class="_ _2"/>l-renowned German air<span class="_ _2"/>-based </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">freight<span class="_ _2"/> carrier<span class="_ _2"/> company<span class="_ _2"/>.<span class="_ _2"/> Senator<span class="_ _2"/> International c<span class="_ _2"/>ontributes with off<span class="_ _2"/>erings within air<span class="_ _2"/> freight<span class="_ _2"/> out of Eur<span class="_ _2"/>ope into <span class="_ _2"/>the USA </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and Asia,<span class="_ _2"/> and ther<span class="_ _2"/>eby<span class="_ _2"/> adds strong capabilities and geogr<span class="_ _2"/>aphical r<span class="_ _2"/>each to <span class="_ _2"/>the inte<span class="_ _2"/>grat<span class="_ _2"/>or <span class="_ _2"/>vision.<span class="_ _2"/> The <span class="_ _2"/>total purchase price </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">was USD 584m.<span class="_ _2"/> In Q2 2023<span class="_ _2"/>, <span class="_ _2"/>the provisional pur<span class="_ _2"/>chase price allocation<span class="_ _2"/> was finalised,<span class="_ _2"/> resul<span class="_ _2"/>ting in an increase in<span class="_ _2"/> goodwill of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD 5m primarily<span class="_ _2"/> relat<span class="_ _2"/>ed to <span class="_ _2"/>the v<span class="_ _2"/>aluation of tax pa<span class="_ _2"/>yables.<span class="_ _2"/> Of the consider<span class="_ _2"/>ation paid,<span class="_ _2"/> USD 230m <span class="_ _2"/>was relat<span class="_ _2"/>ed to g<span class="_ _2"/>oodwill<span class="_ _1"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">while USD 223m w<span class="_ _2"/>as related <span class="_ _2"/>to intangible assets,<span class="_ _2"/> mainly<span class="_ _2"/> customer<span class="_ _2"/> rela<span class="_ _2"/>tionships. USD<span class="_ _2"/> 220m was r<span class="_ _2"/>elated <span class="_ _2"/>to tr<span class="_ _2"/>ade re<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ceivables,<span class="_ _2"/> and the r<span class="_ _2"/>est is mainl<span class="_ _2"/>y r<span class="_ _2"/>elated t<span class="_ _2"/>o other<span class="_ _2"/> receivables<span class="_ _2"/>. Liabilities <span class="_ _2"/>were mainly<span class="_ _2"/> rela<span class="_ _2"/>ted to accrued e<span class="_ _2"/>xpenses and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">def<span class="_ _2"/>err<span class="_ _2"/>ed <span class="_ _2"/>tax.<span class="_ _2"/> Goodwill was mainl<span class="_ _2"/>y attributable <span class="_ _2"/>to commercial and oper<span class="_ _0"/>ational future expected syner<span class="_ _2"/>gies, driv<span class="_ _2"/>en by<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cross-sel<span class="_ _2"/>ling, network optimisations and impr<span class="_ _2"/>oved pr<span class="_ _2"/>oductivity<span class="_ _2"/>.<span class="_ _2"/> Acquir<span class="_ _2"/>ed goodwill is not<span class="_ _2"/> deductible for<span class="_ _2"/> tax purposes<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>From<span class="_ _2"/> the acquisition dat<span class="_ _2"/>e to 31 December<span class="_ _0"/> 2022, Senator<span class="_ _2"/> International con<span class="_ _2"/>tributed rev<span class="_ _2"/>enue of USD 787<span class="_ _2"/>m and a ne<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">profit<span class="_ _2"/> of USD 40m.<span class="_ _2"/> Had the acquisition occurr<span class="_ _2"/>ed on 1 January<span class="_ _2"/> 2022,<span class="_ _2"/> the impact on<span class="_ _2"/> the Group<span class="_ _2"/>’s r<span class="_ _2"/>evenue would ha<span class="_ _2"/>ve been </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD 1.6bn and a net<span class="_ _2"/> profit<span class="_ _2"/> of USD 105m,<span class="_ _2"/> including amortisation of intangibles assets r<span class="_ _2"/>ecognised in <span class="_ _2"/>the acquisition. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Acquisition-rela<span class="_ _2"/>ted costs of USD 9m <span class="_ _2"/>were r<span class="_ _2"/>ecognised as oper<span class="_ _2"/>ating costs in the inc<span class="_ _2"/>ome statement of <span class="_ _2"/>the Logistics </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">&amp; Services segment in 2021,<span class="_ _2"/> and in oper<span class="_ _2"/>ating cash flow in <span class="_ _2"/>the cash flow statemen<span class="_ _2"/>t in 2022.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Sales in 2023</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">US Marine Management </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">An agreement<span class="_ _2"/> was r<span class="_ _2"/>eached t<span class="_ _2"/>o divest U<span class="_ _2"/>.S.<span class="_ _2"/> Marine Management<span class="_ _2"/> LLC in Q3 2023<span class="_ _2"/>.<span class="_ _2"/> On 20 September<span class="_ _2"/> 2023<span class="_ _2"/>, <span class="_ _2"/>the sale of <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">US Marine Management LL<span class="_ _2"/>C w<span class="_ _2"/>as completed and resul<span class="_ _2"/>ted in a net<span class="_ _2"/> gain of USD 92m<span class="_ _2"/> or USD<span class="_ _2"/> 7<span class="_ _2"/>4m after<span class="_ _0"/> tax. <span class="_ _2"/>The net gain<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">befor<span class="_ _2"/>e tax is classified as the g<span class="_ _2"/>ain on sale of non-curren<span class="_ _2"/>t assets in <span class="_ _2"/>the income statement.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maersk Supply Service </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">On 15 May<span class="_ _2"/> 2023,<span class="_ _2"/> the sale of Maersk Suppl<span class="_ _2"/>y Service <span class="_ _2"/>to A.P<span class="_ _4"/>. Møl<span class="_ _2"/>ler<span class="_ _2"/> Holding was completed f<span class="_ _2"/>or cash<span class="_ _2"/> proceeds net<span class="_ _2"/> of cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sold of USD 685m and r<span class="_ _2"/>esulted in a<span class="_ _2"/> net gain of USD<span class="_ _2"/> 15m, which<span class="_ _2"/> includes the r<span class="_ _2"/>eclassification of the <span class="_ _2"/>transla<span class="_ _2"/>tion reserve </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">loss of USD 40m fr<span class="_ _2"/>om equity <span class="_ _2"/>to the income sta<span class="_ _2"/>tement.<span class="_ _2"/> The gain<span class="_ _2"/> is classified as the gain on<span class="_ _2"/> sale of non-current<span class="_ _2"/> assets in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The net pr<span class="_ _2"/>ofit for<span class="_ _0"/> US Marine Management and Maersk Supply<span class="_ _2"/> Service until divestment is included in<span class="_ _2"/> the <span class="_ _2"/>T<span class="_ _0"/>owage &amp; </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Maritime Services segment<span class="_ _2"/> as per<span class="_ _2"/> Note 2.<span class="_ _0"/>1 Segment inf<span class="_ _2"/>ormation.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Höegh Autoliners </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group completed <span class="_ _2"/>the sale of the 2<span class="_ _2"/>6.4% shareholding in Höe<span class="_ _2"/>gh A<span class="_ _2"/>utoliners in thr<span class="_ _2"/>ee tr<span class="_ _2"/>anches during 2023<span class="_ _2"/>. <span class="_ _2"/>The </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transactions aggr<span class="_ _2"/>egat<span class="_ _2"/>ed to a net<span class="_ _2"/> price of USD 362m and a<span class="_ _2"/> gain of USD 5<span class="_ _2"/>7m<span class="_ _2"/> included in T<span class="_ _0"/>owag<span class="_ _2"/>e &amp; Maritime Services </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">segment.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Sales during the year<span class="_ _2"/> 2022</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In 2022,<span class="_ _2"/> T<span class="_ _0"/>erminals completed <span class="_ _2"/>the sale of the 30<span class="_ _2"/>.75% minority<span class="_ _2"/> stake in<span class="_ _2"/> Global Ports Investments in R<span class="_ _2"/>ussia for<span class="_ _2"/> USD 135m.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The tr<span class="_ _2"/>ansaction included an option f<span class="_ _2"/>or <span class="_ _2"/>T<span class="_ _0"/>erminals to r<span class="_ _2"/>e-enter<span class="_ _0"/> the partnership in the future<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Acquisition/<span class="_ _2"/>sale of subsidiaries and activities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Upon acquisition of new entities<span class="_ _2"/>, <span class="_ _2"/>the acquired assets<span class="_ _2"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities and contingent<span class="_ _2"/> liabilities are measur<span class="_ _2"/>ed at fair<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value at<span class="_ _2"/> the date <span class="_ _2"/>when control <span class="_ _2"/>was achieved using <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acquisition method.<span class="_ _2"/> Identifiable intangible assets are r<span class="_ _2"/>ec<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ognised if the<span class="_ _2"/>y arise fr<span class="_ _2"/>om a contr<span class="_ _2"/>actual right or<span class="_ _2"/> can oth-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">erwise be separa<span class="_ _2"/>tely<span class="_ _2"/> identified. <span class="_ _2"/>The differ<span class="_ _2"/>ence between </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the fair<span class="_ _2"/> v<span class="_ _2"/>alue of the acquisition cost<span class="_ _2"/> and the f<span class="_ _2"/>air<span class="_ _2"/> value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acquired identifiable net<span class="_ _2"/> assets is reco<span class="_ _2"/>gnised as goodwill.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Contingent<span class="_ _2"/> consideration<span class="_ _2"/> is measured at<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">any subsequent<span class="_ _2"/> changes <span class="_ _2"/>to contingent<span class="_ _2"/> considera<span class="_ _2"/>tion </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _2"/>ecognised as financial income or<span class="_ _2"/> financial expense </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the income sta<span class="_ _2"/>tement.<span class="_ _2"/> If contingent c<span class="_ _2"/>onsideration is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">settled by issuing a<span class="_ _2"/> predetermined number<span class="_ _2"/> of shar<span class="_ _2"/>es,<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contingent<span class="_ _2"/> considera<span class="_ _2"/>tion is classified as equity and is sub-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sequently<span class="_ _2"/> not r<span class="_ _2"/>emeasured at<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue. <span class="_ _2"/>T<span class="_ _0"/>ransaction costs </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _2"/>ecognised as oper<span class="_ _2"/>ating costs as the<span class="_ _2"/>y are incurr<span class="_ _2"/>ed.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">When <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk ceases t<span class="_ _2"/>o have contr<span class="_ _2"/>ol of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a subsidiary<span class="_ _2"/>,<span class="_ _2"/> the <span class="_ _2"/>value of any<span class="_ _2"/> retained inv<span class="_ _2"/>estment is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">remeasur<span class="_ _2"/>ed at f<span class="_ _2"/>air <span class="_ _2"/>value,<span class="_ _2"/> and <span class="_ _2"/>the value adjustment<span class="_ _2"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised in the income stat<span class="_ _2"/>ement as a gain/los<span class="_ _2"/>s on the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sale of non-current<span class="_ _2"/> assets.<span class="_ _2"/> The diff<span class="_ _2"/>erence between<span class="_ _2"/> sales </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">proceeds and <span class="_ _2"/>the carrying amount of <span class="_ _2"/>the subsidiary is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised in the income stat<span class="_ _2"/>ement including fair<span class="_ _0"/> value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contingent<span class="_ _2"/> considera<span class="_ _2"/>tion at <span class="_ _2"/>the time of sale.<span class="_ _2"/> Contingent<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considera<span class="_ _2"/>tion is remeasur<span class="_ _2"/>ed at f<span class="_ _2"/>air <span class="_ _2"/>value with<span class="_ _2"/> changes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised in the income stat<span class="_ _2"/>ement. <span class="_ _2"/>The effect<span class="_ _2"/> of the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">purchase and sale of non-contr<span class="_ _2"/>olling int<span class="_ _2"/>erests without<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes in contr<span class="_ _2"/>ol is included directl<span class="_ _2"/>y in equity<span class="_ _0"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Acquisition/<span class="_ _2"/>sale of subsidiaries and activities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Upon acquisition of new entities<span class="_ _2"/>, <span class="_ _2"/>the acquired assets<span class="_ _2"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities and contingent<span class="_ _2"/> liabilities are measur<span class="_ _2"/>ed at fair<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value at<span class="_ _2"/> the date <span class="_ _2"/>when control <span class="_ _2"/>was achieved using <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acquisition method.<span class="_ _2"/> Identifiable intangible assets are r<span class="_ _2"/>ec<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ognised if the<span class="_ _2"/>y arise fr<span class="_ _2"/>om a contr<span class="_ _2"/>actual right or<span class="_ _2"/> can oth-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">erwise be separa<span class="_ _2"/>tely<span class="_ _2"/> identified. <span class="_ _2"/>The differ<span class="_ _2"/>ence between </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the fair<span class="_ _2"/> v<span class="_ _2"/>alue of the acquisition cost<span class="_ _2"/> and the f<span class="_ _2"/>air<span class="_ _2"/> value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acquired identifiable net<span class="_ _2"/> assets is reco<span class="_ _2"/>gnised as goodwill.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Contingent<span class="_ _2"/> consideration<span class="_ _2"/> is measured at<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">any subsequent<span class="_ _2"/> changes <span class="_ _2"/>to contingent<span class="_ _2"/> considera<span class="_ _2"/>tion </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _2"/>ecognised as financial income or<span class="_ _2"/> financial expense </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the income sta<span class="_ _2"/>tement.<span class="_ _2"/> If contingent c<span class="_ _2"/>onsideration is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">settled by issuing a<span class="_ _2"/> predetermined number<span class="_ _2"/> of shar<span class="_ _2"/>es,<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contingent<span class="_ _2"/> considera<span class="_ _2"/>tion is classified as equity and is sub-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sequently<span class="_ _2"/> not r<span class="_ _2"/>emeasured at<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue. <span class="_ _2"/>T<span class="_ _0"/>ransaction costs </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _2"/>ecognised as oper<span class="_ _2"/>ating costs as the<span class="_ _2"/>y are incurr<span class="_ _2"/>ed.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">When <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk ceases t<span class="_ _2"/>o have contr<span class="_ _2"/>ol of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a subsidiary<span class="_ _2"/>,<span class="_ _2"/> the <span class="_ _2"/>value of any<span class="_ _2"/> retained inv<span class="_ _2"/>estment is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">remeasur<span class="_ _2"/>ed at f<span class="_ _2"/>air <span class="_ _2"/>value,<span class="_ _2"/> and <span class="_ _2"/>the value adjustment<span class="_ _2"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised in the income stat<span class="_ _2"/>ement as a gain/los<span class="_ _2"/>s on the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sale of non-current<span class="_ _2"/> assets.<span class="_ _2"/> The diff<span class="_ _2"/>erence between<span class="_ _2"/> sales </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">proceeds and <span class="_ _2"/>the carrying amount of <span class="_ _2"/>the subsidiary is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised in the income stat<span class="_ _2"/>ement including fair<span class="_ _0"/> value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contingent<span class="_ _2"/> considera<span class="_ _2"/>tion at <span class="_ _2"/>the time of sale.<span class="_ _2"/> Contingent<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considera<span class="_ _2"/>tion is remeasur<span class="_ _2"/>ed at f<span class="_ _2"/>air <span class="_ _2"/>value with<span class="_ _2"/> changes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised in the income stat<span class="_ _2"/>ement. <span class="_ _2"/>The effect<span class="_ _2"/> of the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">purchase and sale of non-contr<span class="_ _2"/>olling int<span class="_ _2"/>erests without<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes in contr<span class="_ _2"/>ol is included directl<span class="_ _2"/>y in equity<span class="_ _0"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Acquisition/<span class="_ _2"/>sale of subsidiaries and activities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Upon acquisition of new entities<span class="_ _2"/>, <span class="_ _2"/>the acquired assets<span class="_ _2"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities and contingent<span class="_ _2"/> liabilities are measur<span class="_ _2"/>ed at fair<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value at<span class="_ _2"/> the date <span class="_ _2"/>when control <span class="_ _2"/>was achieved using <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acquisition method.<span class="_ _2"/> Identifiable intangible assets are r<span class="_ _2"/>ec<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ognised if the<span class="_ _2"/>y arise fr<span class="_ _2"/>om a contr<span class="_ _2"/>actual right or<span class="_ _2"/> can oth-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">erwise be separa<span class="_ _2"/>tely<span class="_ _2"/> identified. <span class="_ _2"/>The differ<span class="_ _2"/>ence between </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the fair<span class="_ _2"/> v<span class="_ _2"/>alue of the acquisition cost<span class="_ _2"/> and the f<span class="_ _2"/>air<span class="_ _2"/> value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acquired identifiable net<span class="_ _2"/> assets is reco<span class="_ _2"/>gnised as goodwill.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Contingent<span class="_ _2"/> consideration<span class="_ _2"/> is measured at<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">any subsequent<span class="_ _2"/> changes <span class="_ _2"/>to contingent<span class="_ _2"/> considera<span class="_ _2"/>tion </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _2"/>ecognised as financial income or<span class="_ _2"/> financial expense </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the income sta<span class="_ _2"/>tement.<span class="_ _2"/> If contingent c<span class="_ _2"/>onsideration is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">settled by issuing a<span class="_ _2"/> predetermined number<span class="_ _2"/> of shar<span class="_ _2"/>es,<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contingent<span class="_ _2"/> considera<span class="_ _2"/>tion is classified as equity and is sub-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sequently<span class="_ _2"/> not r<span class="_ _2"/>emeasured at<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue. <span class="_ _2"/>T<span class="_ _0"/>ransaction costs </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _2"/>ecognised as oper<span class="_ _2"/>ating costs as the<span class="_ _2"/>y are incurr<span class="_ _2"/>ed.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">When <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk ceases t<span class="_ _2"/>o have contr<span class="_ _2"/>ol of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a subsidiary<span class="_ _2"/>,<span class="_ _2"/> the <span class="_ _2"/>value of any<span class="_ _2"/> retained inv<span class="_ _2"/>estment is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">remeasur<span class="_ _2"/>ed at f<span class="_ _2"/>air <span class="_ _2"/>value,<span class="_ _2"/> and <span class="_ _2"/>the value adjustment<span class="_ _2"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised in the income stat<span class="_ _2"/>ement as a gain/los<span class="_ _2"/>s on the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sale of non-current<span class="_ _2"/> assets.<span class="_ _2"/> The diff<span class="_ _2"/>erence between<span class="_ _2"/> sales </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">proceeds and <span class="_ _2"/>the carrying amount of <span class="_ _2"/>the subsidiary is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised in the income stat<span class="_ _2"/>ement including fair<span class="_ _0"/> value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contingent<span class="_ _2"/> considera<span class="_ _2"/>tion at <span class="_ _2"/>the time of sale.<span class="_ _2"/> Contingent<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considera<span class="_ _2"/>tion is remeasur<span class="_ _2"/>ed at f<span class="_ _2"/>air <span class="_ _2"/>value with<span class="_ _2"/> changes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised in the income stat<span class="_ _2"/>ement. <span class="_ _2"/>The effect<span class="_ _2"/> of the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">purchase and sale of non-contr<span class="_ _2"/>olling int<span class="_ _2"/>erests without<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes in contr<span class="_ _2"/>ol is included directl<span class="_ _2"/>y in equity<span class="_ _0"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Acquisition/<span class="_ _2"/>sale of subsidiaries and activities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Upon acquisition of new entities<span class="_ _2"/>, <span class="_ _2"/>the acquired assets<span class="_ _2"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities and contingent<span class="_ _2"/> liabilities are measur<span class="_ _2"/>ed at fair<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value at<span class="_ _2"/> the date <span class="_ _2"/>when control <span class="_ _2"/>was achieved using <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acquisition method.<span class="_ _2"/> Identifiable intangible assets are r<span class="_ _2"/>ec<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ognised if the<span class="_ _2"/>y arise fr<span class="_ _2"/>om a contr<span class="_ _2"/>actual right or<span class="_ _2"/> can oth-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">erwise be separa<span class="_ _2"/>tely<span class="_ _2"/> identified. <span class="_ _2"/>The differ<span class="_ _2"/>ence between </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the fair<span class="_ _2"/> v<span class="_ _2"/>alue of the acquisition cost<span class="_ _2"/> and the f<span class="_ _2"/>air<span class="_ _2"/> value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acquired identifiable net<span class="_ _2"/> assets is reco<span class="_ _2"/>gnised as goodwill.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Contingent<span class="_ _2"/> consideration<span class="_ _2"/> is measured at<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">any subsequent<span class="_ _2"/> changes <span class="_ _2"/>to contingent<span class="_ _2"/> considera<span class="_ _2"/>tion </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _2"/>ecognised as financial income or<span class="_ _2"/> financial expense </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the income sta<span class="_ _2"/>tement.<span class="_ _2"/> If contingent c<span class="_ _2"/>onsideration is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">settled by issuing a<span class="_ _2"/> predetermined number<span class="_ _2"/> of shar<span class="_ _2"/>es,<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contingent<span class="_ _2"/> considera<span class="_ _2"/>tion is classified as equity and is sub-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sequently<span class="_ _2"/> not r<span class="_ _2"/>emeasured at<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue. <span class="_ _2"/>T<span class="_ _0"/>ransaction costs </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _2"/>ecognised as oper<span class="_ _2"/>ating costs as the<span class="_ _2"/>y are incurr<span class="_ _2"/>ed.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">When <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk ceases t<span class="_ _2"/>o have contr<span class="_ _2"/>ol of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a subsidiary<span class="_ _2"/>,<span class="_ _2"/> the <span class="_ _2"/>value of any<span class="_ _2"/> retained inv<span class="_ _2"/>estment is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">remeasur<span class="_ _2"/>ed at f<span class="_ _2"/>air <span class="_ _2"/>value,<span class="_ _2"/> and <span class="_ _2"/>the value adjustment<span class="_ _2"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised in the income stat<span class="_ _2"/>ement as a gain/los<span class="_ _2"/>s on the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sale of non-current<span class="_ _2"/> assets.<span class="_ _2"/> The diff<span class="_ _2"/>erence between<span class="_ _2"/> sales </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">proceeds and <span class="_ _2"/>the carrying amount of <span class="_ _2"/>the subsidiary is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised in the income stat<span class="_ _2"/>ement including fair<span class="_ _0"/> value of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contingent<span class="_ _2"/> considera<span class="_ _2"/>tion at <span class="_ _2"/>the time of sale.<span class="_ _2"/> Contingent<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">considera<span class="_ _2"/>tion is remeasur<span class="_ _2"/>ed at f<span class="_ _2"/>air <span class="_ _2"/>value with<span class="_ _2"/> changes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised in the income stat<span class="_ _2"/>ement. <span class="_ _2"/>The effect<span class="_ _2"/> of the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">purchase and sale of non-contr<span class="_ _2"/>olling int<span class="_ _2"/>erests without<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">changes in contr<span class="_ _2"/>ol is included directl<span class="_ _2"/>y in equity<span class="_ _0"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 3.5 <span class="_ _1c7"> </span>T<span class="_ _0"/>erm deposits and Other r<span class="_ _2"/>ecei<span class="_ _2"/>vables, non-curren<span class="_ _2"/>t</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Loan receiv<span class="_ _2"/>ables,<span class="_ _2"/> current,<span class="_ _2"/> amount<span class="_ _2"/> to USD 12.8bn<span class="_ _2"/> (USD 17<span class="_ _0"/>.<span class="_ _2"/>7bn) and consist primarily<span class="_ _2"/> of t<span class="_ _2"/>erm deposits with a maturity<span class="_ _2"/> of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">more <span class="_ _2"/>than thr<span class="_ _2"/>ee months amounting t<span class="_ _2"/>o USD 12.8bn (USD 17<span class="_ _0"/>.6bn).<span class="_ _2"/> For<span class="_ _2"/> details on <span class="_ _2"/>the assessment of <span class="_ _2"/>the loss allow<span class="_ _2"/>ance on </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">term deposits,<span class="_ _2"/> re<span class="_ _2"/>ference is made <span class="_ _2"/>to note 4<span class="_ _2"/>.5 Financial instruments and risks.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:178.984375px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 63.0996px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Liquidity risk</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 557.104px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Net int<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-bearing debt and liquidity<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> reserve<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 237.551px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 49.373px; width: 556.77px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Borrowings<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 391.091px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14,814<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15,643</span><span style="position: absolute; display: inline-block; left: 0px; top: 64.2637px; width: 557.086px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Net int<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-bearing debt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 327.451px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-4,658<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.7676px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-12,632</span><span style="position: absolute; display: inline-block; left: 0px; top: 94.0449px; width: 556.898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cash and bank balances<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 339.609px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,701<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10,057</span><span style="position: absolute; display: inline-block; left: 0px; top: 108.936px; width: 556.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Restricted cash<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 374.543px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1,024<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1,358</span><span style="position: absolute; display: inline-block; left: 0px; top: 123.826px; width: 559.6px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erm deposits not included in cash and bank balances<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 192.943px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,693<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.4607px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 17,615 </span><span style="position: absolute; display: inline-block; left: 0px; top: 138.717px; width: 556.641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Securities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 429.938px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>942</span><span style="position: absolute; display: inline-block; left: 0px; top: 153.607px; width: 556.729px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Undra<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>wn rev<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>olving credit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> facilities &gt; 12 months<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 229.793px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,050<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,000</span><span style="position: absolute; display: inline-block; left: 79.8906px; top: 168.367px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 168.498px; width: 80.8594px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Liquidity reserv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>e</span><span style="position: absolute; display: inline-block; left: 445.797px; top: 168.482px; width: 111.967px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">24,420<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>33,256</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Liquidity r<span class="_ _2"/>eserve is defined as undrawn<span class="_ _2"/> committed rev<span class="_ _2"/>olving facilities with mor<span class="_ _2"/>e than one <span class="_ _2"/>year<span class="_ _2"/> to expiry<span class="_ _0"/>, securities, <span class="_ _2"/>term deposits and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash and bank balances,<span class="_ _2"/> excluding securities and balances in countries with<span class="_ _2"/> exchange contr<span class="_ _2"/>ol or other<span class="_ _2"/> r<span class="_ _2"/>estrictions.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _2"/> information about<span class="_ _2"/> cash and bank balances in countries with<span class="_ _2"/> exchange contr<span class="_ _2"/>ol or<span class="_ _2"/> other r<span class="_ _2"/>estrictions,<span class="_ _2"/> ref<span class="_ _2"/>er<span class="_ _2"/> to note 5<span class="_ _2"/>.5 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Cash flow specifications<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Based on the liquidity<span class="_ _2"/> reserve<span class="_ _2"/>, loans f<span class="_ _2"/>or <span class="_ _2"/>the financing of specific assets,<span class="_ _2"/> the maturity<span class="_ _2"/> of outstanding loans,<span class="_ _2"/> and the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">current<span class="_ _2"/> investment<span class="_ _2"/> profile,<span class="_ _2"/> <span class="_ _2"/>the Group’<span class="_ _2"/>s financial resour<span class="_ _2"/>ces are deemed sa<span class="_ _2"/>tisfactory<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The aver<span class="_ _2"/>age t<span class="_ _2"/>erm to ma<span class="_ _2"/>turity of loan facilities in<span class="_ _2"/> the Gr<span class="_ _2"/>oup was about fiv<span class="_ _2"/>e years (about<span class="_ _2"/> five y<span class="_ _2"/>ears) at 31 December<span class="_ _2"/> 2023<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:449.21875px;"><span style="position: absolute; display: inline-block; left: 211.75px; top: 0.0136718px; width: 41.8359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Carrying </span><span style="position: absolute; display: inline-block; left: 345.578px; top: 0.0136718px; width: 135.205px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cash flows including int<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erest</span><span style="position: absolute; display: inline-block; left: 0px; top: 14.9043px; width: 111.135px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Maturities of liabilities </span><span style="position: absolute; display: inline-block; left: 214.25px; top: 12.0137px; width: 36.8906px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">amount</span><span style="position: absolute; display: inline-block; left: 0px; top: 26.9043px; width: 86.0508px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">and commitments</span><span style="position: absolute; display: inline-block; left: 287.016px; top: 26.9043px; width: 245.174px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">0-1 year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1-5 years<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5- years<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 532.189px; top: 26.9043px; width: 24.1113px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 0px; top: 51.8867px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">2023</span><span style="position: absolute; display: inline-block; left: 0px; top: 66.4668px; width: 556.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bank and other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> credit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> institutions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 74.496px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>973<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>259<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>676<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>273<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,208</span><span style="position: absolute; display: inline-block; left: 0px; top: 81.3574px; width: 556.928px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 143.625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10,448<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,120<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,811<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,292<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13,223</span><span style="position: absolute; display: inline-block; left: 0px; top: 96.248px; width: 556.711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.56641px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>– of which inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 215.32px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>458<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,078<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,239<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,775</span><span style="position: absolute; display: inline-block; left: 0px; top: 111.139px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Issued bonds<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 160.459px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,393<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>115<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,907<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,105<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,127</span><span style="position: absolute; display: inline-block; left: 0px; top: 126.029px; width: 557.25px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ade payables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.266px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,401<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,401<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,401</span><span style="position: absolute; display: inline-block; left: 0px; top: 140.92px; width: 556.986px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> payables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.266px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,516<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,479<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>24<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,516</span><span style="position: absolute; display: inline-block; left: 0px; top: 155.811px; width: 556.863px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Non-derivativ<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>e financial liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>22,731<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>11,374<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>8,418<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6,683<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>26,475</span><span style="position: absolute; display: inline-block; left: 0px; top: 170.701px; width: 556.957px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Derivatives<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 179.145px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>395<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>72<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>241<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>82<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>395</span><span style="position: absolute; display: inline-block; left: 0px; top: 185.592px; width: 556.805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal recognised in balance sheet<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>23,126<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>11,446<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>8,659<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6,765<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>26,870</span><span style="position: absolute; display: inline-block; left: 0px; top: 215.373px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Capital commitments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 196.951px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,955<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,228<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>683<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,866</span><span style="position: absolute; display: inline-block; left: 0px; top: 230.264px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.853px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>13,401<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>10,887<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>7,448<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>31,736</span><span style="position: absolute; display: inline-block; left: 0px; top: 260.355px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 274.936px; width: 556.799px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bank and other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> credit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> institutions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.7989px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,053<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>293<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>493<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>550<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,336</span><span style="position: absolute; display: inline-block; left: 0px; top: 289.826px; width: 556.928px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 143.625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11,614<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,479<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,467<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,239<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14,185</span><span style="position: absolute; display: inline-block; left: 0px; top: 304.717px; width: 556.711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.56641px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>– of which inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 215.32px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>448<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,010<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,113<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,571</span><span style="position: absolute; display: inline-block; left: 0px; top: 319.607px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Issued bonds<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 160.459px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,976<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>113<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,141<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,130<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,384</span><span style="position: absolute; display: inline-block; left: 0px; top: 334.498px; width: 557.25px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ade payables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.266px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,804<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,804<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,804</span><span style="position: absolute; display: inline-block; left: 0px; top: 349.389px; width: 556.939px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> payables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.266px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,846<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,696<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>129<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,846</span><span style="position: absolute; display: inline-block; left: 0px; top: 364.279px; width: 556.863px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Non-derivativ<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>e financial liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>24,293<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>12,385<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>9,230<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,940<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>27,555</span><span style="position: absolute; display: inline-block; left: 0px; top: 379.17px; width: 556.869px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Derivatives<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 179.145px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>572<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>77<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>356<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>139<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>572</span><span style="position: absolute; display: inline-block; left: 0px; top: 394.045px; width: 556.805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal recognised in balance sheet<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>24,865<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>12,462<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>9,586<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6,079<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>28,127</span><span style="position: absolute; display: inline-block; left: 0px; top: 423.842px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Capital commitments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 196.951px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,313<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,007<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>705<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,025</span><span style="position: absolute; display: inline-block; left: 0px; top: 438.732px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.853px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>13,775<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>12,593<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6,784<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>33,152</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">It is of gr<span class="_ _2"/>eat importance f<span class="_ _2"/>or <span class="_ _2"/>the Group <span class="_ _2"/>to maintain a financial r<span class="_ _2"/>eserve <span class="_ _2"/>to cover<span class="_ _2"/> <span class="_ _2"/>the Group’<span class="_ _2"/>s obligations and inv<span class="_ _2"/>estment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">opportunities and to pr<span class="_ _2"/>ovide the capital nec<span class="_ _2"/>essary t<span class="_ _2"/>o offset changes in <span class="_ _2"/>the Group’<span class="_ _0"/>s liquidity due to changes in <span class="_ _2"/>the cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">flow from oper<span class="_ _2"/>ating activities<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The flexibility of <span class="_ _2"/>the financial reserve is subject<span class="_ _2"/> t<span class="_ _2"/>o ongoing prioritisation and optimisation,<span class="_ _2"/> among other<span class="_ _2"/> things by<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">focusing on <span class="_ _2"/>the release of capital and fol<span class="_ _2"/>lowing up on the de<span class="_ _2"/>velopment in <span class="_ _2"/>working capital.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _2"/> receiv<span class="_ _2"/>ables, non-curr<span class="_ _2"/>ent,<span class="_ _2"/> primarily c<span class="_ _2"/>onsist of prepa<span class="_ _2"/>yments made for<span class="_ _2"/> oper<span class="_ _2"/>ational activities that<span class="_ _2"/> will be utilised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">after<span class="_ _2"/> twel<span class="_ _2"/>ve months amounting <span class="_ _2"/>to USD 1.3bn (USD 0<span class="_ _2"/>.5bn).</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 3.<span class="_ _2"/>6 <span class="_"> </span>Asse<span class="_ _2"/>ts held f<span class="_ _2"/>or sale or distribution</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:213.859375px;"><span style="position: absolute; display: inline-block; left: 453.797px; top: 0.0136718px; width: 102.393px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.9961px; width: 134.994px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Balance sheet items comprise:</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 559.453px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Intangible assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 387.844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>59<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.998px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Property, plant<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> and equipment and right<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-of-use assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 194.221px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,303<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.881px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Deferr<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed tax assets<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 376.856px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">52<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 402.69px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>167<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>51</span><span style="position: absolute; display: inline-block; left: 0px; top: 99.1387px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 359.092px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,581<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>65</span><span style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 556.875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 393.521px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>209<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4</span><span style="position: absolute; display: inline-block; left: 0px; top: 128.904px; width: 556.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> sale or<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> distribution<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 284.766px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,790<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>69</span><span style="position: absolute; display: inline-block; left: 0px; top: 158.701px; width: 556.875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Provisions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 419.419px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1</span><span style="position: absolute; display: inline-block; left: 0px; top: 173.592px; width: 559.295px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Deferr<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed tax liabilities<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 364.166px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">27<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 188.482px; width: 556.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 390.165px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>209<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8</span><span style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 557.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Liabilities associated with assets held f<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>or sale or<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> distribution<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 169.342px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>248<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>9</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Assets held for<span class="_ _2"/> sale in 2023 r<span class="_ _2"/>elate t<span class="_ _2"/>o one terminal within<span class="_ _2"/> T<span class="_ _0"/>erminals (2022: two <span class="_ _2"/>terminals) and S<span class="_ _2"/>vitzer<span class="_ _2"/> (towag<span class="_ _2"/>e) within </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>owage &amp; Maritime Services due t<span class="_ _2"/>o Management’<span class="_ _2"/>s commitment <span class="_ _2"/>to its sale or<span class="_ _2"/> distribution as of <span class="_ _2"/>the balance sheet date<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Svitzer<span class="_ _0"/> is classified as held for sale or<span class="_ _0"/> distribution and presented separ<span class="_ _2"/>ately<span class="_ _2"/> in the balance sheet.<span class="_ _2"/> Compar<span class="_ _2"/>ative figur<span class="_ _2"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">have not<span class="_ _2"/> been restat<span class="_ _2"/>ed. No gains or<span class="_ _0"/> losses resulting from <span class="_ _2"/>the fair<span class="_ _2"/> <span class="_ _2"/>value measuremen<span class="_ _2"/>t of S<span class="_ _2"/>vitzer<span class="_ _2"/> have been r<span class="_ _2"/>ecognised.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Svitzer’<span class="_ _0"/>s results continue <span class="_ _2"/>to be included in the <span class="_ _2"/>T<span class="_ _0"/>owage &amp; Maritime Services se<span class="_ _2"/>gment and ar<span class="_ _2"/>e included in note 2.<span class="_ _0"/>1 Segment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">information as such.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Assets held for<span class="_ _0"/> sale<span class="ff3"> are recognised <span class="_ _2"/>when the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an individual non-curr<span class="_ _2"/>ent<span class="_ _2"/> asset, or<span class="_ _2"/> disposal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">group of assets<span class="_ _2"/>, is r<span class="_ _2"/>ecover<span class="_ _2"/>ed principally<span class="_ _2"/> thr<span class="_ _2"/>ough a sales </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transaction<span class="_ _2"/> rather<span class="_ _0"/> than thr<span class="_ _2"/>ough continued use.<span class="_ _2"/> Assets<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are classified as held f<span class="_ _2"/>or sale <span class="_ _2"/>when activities to carry<span class="_ _2"/> out<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a sale have been initia<span class="_ _2"/>ted, <span class="_ _2"/>when the activities ar<span class="_ _2"/>e avail<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">able for<span class="_ _2"/> immediate sale in <span class="_ _2"/>their<span class="_ _2"/> present<span class="_ _2"/> condition, and<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">when the activities ar<span class="_ _2"/>e expected <span class="_ _2"/>to be disposed of within </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">12 months.<span class="_ _2"/> Liabilities directl<span class="_ _2"/>y ass<span class="_ _2"/>ocia<span class="_ _2"/>ted<span class="_ _2"/> wit<span class="_ _2"/>h as<span class="_ _2"/>sets<span class="_ _2"/> held<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _2"/> sale are pr<span class="_ _2"/>esented separ<span class="_ _2"/>atel<span class="_ _2"/>y from<span class="_ _2"/> other liabilities<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Assets held for<span class="_ _2"/> sale are measur<span class="_ _2"/>ed at <span class="_ _2"/>the lower<span class="_ _2"/> of carry<span class="_ _2"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ing amount immediat<span class="_ _2"/>ely bef<span class="_ _2"/>ore classification<span class="_ _2"/> as held for<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sale and fair<span class="_ _2"/> v<span class="_ _2"/>alue less costs to sel<span class="_ _2"/>l. Impairmen<span class="_ _2"/>t t<span class="_ _2"/>ests are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">performed immediatel<span class="_ _2"/>y befor<span class="_ _2"/>e classification as held f<span class="_ _2"/>or </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sale.<span class="_ _2"/> Non-current<span class="_ _2"/> assets are not<span class="_ _2"/> depreciated or<span class="_ _0"/> amortised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">while classified as held for<span class="_ _2"/> sale.<span class="_ _2"/> Measurement<span class="_ _2"/> of deferr<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax and financial assets and liabilities is unchanged.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>When an asset<span class="_ _2"/> or a<span class="_ _2"/> disposal group has been classified </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as held for<span class="_ _2"/> sale or<span class="_ _2"/> distribution, but<span class="_ _2"/> the r<span class="_ _2"/>equirements ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">no longer<span class="_ _2"/> met, <span class="_ _2"/>the assets and rela<span class="_ _2"/>ted liabilities ceases to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">be classified as held for<span class="_ _2"/> sale.<span class="_ _2"/> The c<span class="_ _2"/>essation of the classi-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fication as held for<span class="_ _2"/> sale wil<span class="_ _2"/>l be reflected in<span class="_ _2"/> the period in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which the change o<span class="_ _2"/>f circumstances has occurr<span class="_ _2"/>ed. Com-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">para<span class="_ _2"/>tive figures ar<span class="_ _2"/>e not r<span class="_ _2"/>estated,<span class="_ _2"/> and any adjustments </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the carrying <span class="_ _2"/>value of assets and liabilities pr<span class="_ _2"/>eviously<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">classified as held for<span class="_ _2"/> sale are r<span class="_ _2"/>ecognised in <span class="_ _2"/>the period in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which the cir<span class="_ _2"/>cumstances have changed.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 3.<span class="_ _2"/>6 <span class="_"> </span>Asse<span class="_ _2"/>ts held f<span class="_ _2"/>or sale or distribution</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:213.859375px;"><span style="position: absolute; display: inline-block; left: 453.797px; top: 0.0136718px; width: 102.393px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.9961px; width: 134.994px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Balance sheet items comprise:</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 559.453px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Intangible assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 387.844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>59<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.998px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Property, plant<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> and equipment and right<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-of-use assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 194.221px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,303<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.881px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Deferr<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed tax assets<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 376.856px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">52<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 402.69px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>167<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>51</span><span style="position: absolute; display: inline-block; left: 0px; top: 99.1387px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 359.092px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,581<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>65</span><span style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 556.875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 393.521px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>209<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4</span><span style="position: absolute; display: inline-block; left: 0px; top: 128.904px; width: 556.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> sale or<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> distribution<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 284.766px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,790<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>69</span><span style="position: absolute; display: inline-block; left: 0px; top: 158.701px; width: 556.875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Provisions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 419.419px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1</span><span style="position: absolute; display: inline-block; left: 0px; top: 173.592px; width: 559.295px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Deferr<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed tax liabilities<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 364.166px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">27<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 188.482px; width: 556.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 390.165px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>209<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8</span><span style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 557.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Liabilities associated with assets held f<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>or sale or<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> distribution<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 169.342px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>248<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>9</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Assets held for<span class="_ _2"/> sale in 2023 r<span class="_ _2"/>elate t<span class="_ _2"/>o one terminal within<span class="_ _2"/> T<span class="_ _0"/>erminals (2022: two <span class="_ _2"/>terminals) and S<span class="_ _2"/>vitzer<span class="_ _2"/> (towag<span class="_ _2"/>e) within </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>owage &amp; Maritime Services due t<span class="_ _2"/>o Management’<span class="_ _2"/>s commitment <span class="_ _2"/>to its sale or<span class="_ _2"/> distribution as of <span class="_ _2"/>the balance sheet date<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Svitzer<span class="_ _0"/> is classified as held for sale or<span class="_ _0"/> distribution and presented separ<span class="_ _2"/>ately<span class="_ _2"/> in the balance sheet.<span class="_ _2"/> Compar<span class="_ _2"/>ative figur<span class="_ _2"/>es </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">have not<span class="_ _2"/> been restat<span class="_ _2"/>ed. No gains or<span class="_ _0"/> losses resulting from <span class="_ _2"/>the fair<span class="_ _2"/> <span class="_ _2"/>value measuremen<span class="_ _2"/>t of S<span class="_ _2"/>vitzer<span class="_ _2"/> have been r<span class="_ _2"/>ecognised.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Svitzer’<span class="_ _0"/>s results continue <span class="_ _2"/>to be included in the <span class="_ _2"/>T<span class="_ _0"/>owage &amp; Maritime Services se<span class="_ _2"/>gment and ar<span class="_ _2"/>e included in note 2.<span class="_ _0"/>1 Segment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">information as such.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Assets held for<span class="_ _0"/> sale<span class="ff3"> are recognised <span class="_ _2"/>when the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an individual non-curr<span class="_ _2"/>ent<span class="_ _2"/> asset, or<span class="_ _2"/> disposal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">group of assets<span class="_ _2"/>, is r<span class="_ _2"/>ecover<span class="_ _2"/>ed principally<span class="_ _2"/> thr<span class="_ _2"/>ough a sales </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transaction<span class="_ _2"/> rather<span class="_ _0"/> than thr<span class="_ _2"/>ough continued use.<span class="_ _2"/> Assets<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are classified as held f<span class="_ _2"/>or sale <span class="_ _2"/>when activities to carry<span class="_ _2"/> out<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a sale have been initia<span class="_ _2"/>ted, <span class="_ _2"/>when the activities ar<span class="_ _2"/>e avail<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">able for<span class="_ _2"/> immediate sale in <span class="_ _2"/>their<span class="_ _2"/> present<span class="_ _2"/> condition, and<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">when the activities ar<span class="_ _2"/>e expected <span class="_ _2"/>to be disposed of within </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">12 months.<span class="_ _2"/> Liabilities directl<span class="_ _2"/>y ass<span class="_ _2"/>ocia<span class="_ _2"/>ted<span class="_ _2"/> wit<span class="_ _2"/>h as<span class="_ _2"/>sets<span class="_ _2"/> held<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _2"/> sale are pr<span class="_ _2"/>esented separ<span class="_ _2"/>atel<span class="_ _2"/>y from<span class="_ _2"/> other liabilities<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Assets held for<span class="_ _2"/> sale are measur<span class="_ _2"/>ed at <span class="_ _2"/>the lower<span class="_ _2"/> of carry<span class="_ _2"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ing amount immediat<span class="_ _2"/>ely bef<span class="_ _2"/>ore classification<span class="_ _2"/> as held for<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sale and fair<span class="_ _2"/> v<span class="_ _2"/>alue less costs to sel<span class="_ _2"/>l. Impairmen<span class="_ _2"/>t t<span class="_ _2"/>ests are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">performed immediatel<span class="_ _2"/>y befor<span class="_ _2"/>e classification as held f<span class="_ _2"/>or </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sale.<span class="_ _2"/> Non-current<span class="_ _2"/> assets are not<span class="_ _2"/> depreciated or<span class="_ _0"/> amortised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">while classified as held for<span class="_ _2"/> sale.<span class="_ _2"/> Measurement<span class="_ _2"/> of deferr<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax and financial assets and liabilities is unchanged.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>When an asset<span class="_ _2"/> or a<span class="_ _2"/> disposal group has been classified </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as held for<span class="_ _2"/> sale or<span class="_ _2"/> distribution, but<span class="_ _2"/> the r<span class="_ _2"/>equirements ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">no longer<span class="_ _2"/> met, <span class="_ _2"/>the assets and rela<span class="_ _2"/>ted liabilities ceases to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">be classified as held for<span class="_ _2"/> sale.<span class="_ _2"/> The c<span class="_ _2"/>essation of the classi-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fication as held for<span class="_ _2"/> sale wil<span class="_ _2"/>l be reflected in<span class="_ _2"/> the period in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which the change o<span class="_ _2"/>f circumstances has occurr<span class="_ _2"/>ed. Com-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">para<span class="_ _2"/>tive figures ar<span class="_ _2"/>e not r<span class="_ _2"/>estated,<span class="_ _2"/> and any adjustments </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the carrying <span class="_ _2"/>value of assets and liabilities pr<span class="_ _2"/>eviously<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">classified as held for<span class="_ _2"/> sale are r<span class="_ _2"/>ecognised in <span class="_ _2"/>the period in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which the cir<span class="_ _2"/>cumstances have changed.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Assets held for<span class="_ _0"/> sale<span class="ff3"> are recognised <span class="_ _2"/>when the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an individual non-curr<span class="_ _2"/>ent<span class="_ _2"/> asset, or<span class="_ _2"/> disposal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">group of assets<span class="_ _2"/>, is r<span class="_ _2"/>ecover<span class="_ _2"/>ed principally<span class="_ _2"/> thr<span class="_ _2"/>ough a sales </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transaction<span class="_ _2"/> rather<span class="_ _0"/> than thr<span class="_ _2"/>ough continued use.<span class="_ _2"/> Assets<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are classified as held f<span class="_ _2"/>or sale <span class="_ _2"/>when activities to carry<span class="_ _2"/> out<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a sale have been initia<span class="_ _2"/>ted, <span class="_ _2"/>when the activities ar<span class="_ _2"/>e avail<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">able for<span class="_ _2"/> immediate sale in <span class="_ _2"/>their<span class="_ _2"/> present<span class="_ _2"/> condition, and<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">when the activities ar<span class="_ _2"/>e expected <span class="_ _2"/>to be disposed of within </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">12 months.<span class="_ _2"/> Liabilities directl<span class="_ _2"/>y ass<span class="_ _2"/>ocia<span class="_ _2"/>ted<span class="_ _2"/> wit<span class="_ _2"/>h as<span class="_ _2"/>sets<span class="_ _2"/> held<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _2"/> sale are pr<span class="_ _2"/>esented separ<span class="_ _2"/>atel<span class="_ _2"/>y from<span class="_ _2"/> other liabilities<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Assets held for<span class="_ _2"/> sale are measur<span class="_ _2"/>ed at <span class="_ _2"/>the lower<span class="_ _2"/> of carry<span class="_ _2"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ing amount immediat<span class="_ _2"/>ely bef<span class="_ _2"/>ore classification<span class="_ _2"/> as held for<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sale and fair<span class="_ _2"/> v<span class="_ _2"/>alue less costs to sel<span class="_ _2"/>l. Impairmen<span class="_ _2"/>t t<span class="_ _2"/>ests are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">performed immediatel<span class="_ _2"/>y befor<span class="_ _2"/>e classification as held f<span class="_ _2"/>or </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sale.<span class="_ _2"/> Non-current<span class="_ _2"/> assets are not<span class="_ _2"/> depreciated or<span class="_ _0"/> amortised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">while classified as held for<span class="_ _2"/> sale.<span class="_ _2"/> Measurement<span class="_ _2"/> of deferr<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax and financial assets and liabilities is unchanged.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>When an asset<span class="_ _2"/> or a<span class="_ _2"/> disposal group has been classified </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as held for<span class="_ _2"/> sale or<span class="_ _2"/> distribution, but<span class="_ _2"/> the r<span class="_ _2"/>equirements ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">no longer<span class="_ _2"/> met, <span class="_ _2"/>the assets and rela<span class="_ _2"/>ted liabilities ceases to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">be classified as held for<span class="_ _2"/> sale.<span class="_ _2"/> The c<span class="_ _2"/>essation of the classi-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fication as held for<span class="_ _2"/> sale wil<span class="_ _2"/>l be reflected in<span class="_ _2"/> the period in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which the change o<span class="_ _2"/>f circumstances has occurr<span class="_ _2"/>ed. Com-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">para<span class="_ _2"/>tive figures ar<span class="_ _2"/>e not r<span class="_ _2"/>estated,<span class="_ _2"/> and any adjustments </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the carrying <span class="_ _2"/>value of assets and liabilities pr<span class="_ _2"/>eviously<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">classified as held for<span class="_ _2"/> sale are r<span class="_ _2"/>ecognised in <span class="_ _2"/>the period in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which the cir<span class="_ _2"/>cumstances have changed.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Assets held for<span class="_ _0"/> sale<span class="ff3"> are recognised <span class="_ _2"/>when the carrying </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount of an individual non-curr<span class="_ _2"/>ent<span class="_ _2"/> asset, or<span class="_ _2"/> disposal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">group of assets<span class="_ _2"/>, is r<span class="_ _2"/>ecover<span class="_ _2"/>ed principally<span class="_ _2"/> thr<span class="_ _2"/>ough a sales </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transaction<span class="_ _2"/> rather<span class="_ _0"/> than thr<span class="_ _2"/>ough continued use.<span class="_ _2"/> Assets<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are classified as held f<span class="_ _2"/>or sale <span class="_ _2"/>when activities to carry<span class="_ _2"/> out<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a sale have been initia<span class="_ _2"/>ted, <span class="_ _2"/>when the activities ar<span class="_ _2"/>e avail<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">able for<span class="_ _2"/> immediate sale in <span class="_ _2"/>their<span class="_ _2"/> present<span class="_ _2"/> condition, and<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">when the activities ar<span class="_ _2"/>e expected <span class="_ _2"/>to be disposed of within </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">12 months.<span class="_ _2"/> Liabilities directl<span class="_ _2"/>y ass<span class="_ _2"/>ocia<span class="_ _2"/>ted<span class="_ _2"/> wit<span class="_ _2"/>h as<span class="_ _2"/>sets<span class="_ _2"/> held<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _2"/> sale are pr<span class="_ _2"/>esented separ<span class="_ _2"/>atel<span class="_ _2"/>y from<span class="_ _2"/> other liabilities<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Assets held for<span class="_ _2"/> sale are measur<span class="_ _2"/>ed at <span class="_ _2"/>the lower<span class="_ _2"/> of carry<span class="_ _2"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ing amount immediat<span class="_ _2"/>ely bef<span class="_ _2"/>ore classification<span class="_ _2"/> as held for<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sale and fair<span class="_ _2"/> v<span class="_ _2"/>alue less costs to sel<span class="_ _2"/>l. Impairmen<span class="_ _2"/>t t<span class="_ _2"/>ests are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">performed immediatel<span class="_ _2"/>y befor<span class="_ _2"/>e classification as held f<span class="_ _2"/>or </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sale.<span class="_ _2"/> Non-current<span class="_ _2"/> assets are not<span class="_ _2"/> depreciated or<span class="_ _0"/> amortised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">while classified as held for<span class="_ _2"/> sale.<span class="_ _2"/> Measurement<span class="_ _2"/> of deferr<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax and financial assets and liabilities is unchanged.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>When an asset<span class="_ _2"/> or a<span class="_ _2"/> disposal group has been classified </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as held for<span class="_ _2"/> sale or<span class="_ _2"/> distribution, but<span class="_ _2"/> the r<span class="_ _2"/>equirements ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">no longer<span class="_ _2"/> met, <span class="_ _2"/>the assets and rela<span class="_ _2"/>ted liabilities ceases to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">be classified as held for<span class="_ _2"/> sale.<span class="_ _2"/> The c<span class="_ _2"/>essation of the classi-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fication as held for<span class="_ _2"/> sale wil<span class="_ _2"/>l be reflected in<span class="_ _2"/> the period in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which the change o<span class="_ _2"/>f circumstances has occurr<span class="_ _2"/>ed. Com-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">para<span class="_ _2"/>tive figures ar<span class="_ _2"/>e not r<span class="_ _2"/>estated,<span class="_ _2"/> and any adjustments </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to the carrying <span class="_ _2"/>value of assets and liabilities pr<span class="_ _2"/>eviously<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">classified as held for<span class="_ _2"/> sale are r<span class="_ _2"/>ecognised in <span class="_ _2"/>the period in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">which the cir<span class="_ _2"/>cumstances have changed.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 3.<span class="_ _0"/>7 <span class="_"> </span>Pr<span class="_ _2"/>ovisions</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:267.640625px;"><span style="position: absolute; display: inline-block; left: 263.469px; top: 0.0136718px; width: 141.34px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Restructuring<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.8848px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Legal dis-</span><span style="position: absolute; display: inline-block; left: 454.141px; top: 0.0136718px; width: 102.451px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 354.125px; top: 12.0137px; width: 50.4668px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">putes, etc.</span><span style="position: absolute; display: inline-block; left: 0px; top: 36.6855px; width: 556.705px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 240.492px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">68<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,182<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>369<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,619</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 51.5762px; width: 556.652px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Provision<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> made<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 236.525px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>151<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>488<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>283<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>922</span><span style="position: absolute; display: inline-block; left: 0px; top: 66.4668px; width: 556.863px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Amount used<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 251.566px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>61<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>239<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>144<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>444</span><span style="position: absolute; display: inline-block; left: 0px; top: 81.3574px; width: 556.963px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Amount r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>eversed<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 233.578px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>34<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>238<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>57<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>328</span><span style="position: absolute; display: inline-block; left: 0px; top: 96.248px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions from acquir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed companies<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.914px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2</span><span style="position: absolute; display: inline-block; left: 0px; top: 111.139px; width: 557.033px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals from companies sold<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 174.844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>28<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>29</span><span style="position: absolute; display: inline-block; left: 0px; top: 126.029px; width: 557.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 180.931px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.3906px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-12</span><span style="position: absolute; display: inline-block; left: 0px; top: 140.92px; width: 556.869px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 192.943px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-18<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-20</span><span style="position: absolute; display: inline-block; left: 0px; top: 155.795px; width: 557.021px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.58px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>126<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,176<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>407<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,709</span><span style="position: absolute; display: inline-block; left: 0px; top: 185.902px; width: 40.6699px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Of<span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> which:</span><span style="position: absolute; display: inline-block; left: 0px; top: 200.482px; width: 556.805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 196.951px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>691<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>195<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>897</span><span style="position: absolute; display: inline-block; left: 0px; top: 215.373px; width: 556.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 212.619px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>115<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>485<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>212<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>812</span><span style="position: absolute; display: inline-block; left: 0px; top: 245.154px; width: 171.334px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> provisions e<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>xpected to </span><span style="position: absolute; display: inline-block; left: 0px; top: 257.154px; width: 556.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">be realised after<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> more than five <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>years<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.77px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>36<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>27<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>64</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Restructuring includes pro<span class="_ _2"/>visions for<span class="_ _2"/> decided and publicly announc<span class="_ _2"/>ed restructurings and includes mainly<span class="_ _2"/> staff redundancy </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">costs.<span class="_ _2"/> Legal disputes<span class="_ _2"/>, etc.<span class="_ _2"/> include,<span class="_ _2"/> among other<span class="_ _2"/> things<span class="_ _2"/>, indir<span class="_ _2"/>ect <span class="_ _2"/>tax and duty disputes<span class="_ _2"/>. Other<span class="_ _2"/> primarily<span class="_ _2"/> includes provisions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _2"/> warr<span class="_ _2"/>anties,<span class="_ _2"/> and oner<span class="_ _2"/>ous contracts<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Reversals of pr<span class="_ _2"/>ovisions primarily<span class="_ _2"/> relat<span class="_ _2"/>e to leg<span class="_ _2"/>al disputes and contr<span class="_ _2"/>actual disagreements<span class="_ _2"/>, which<span class="_ _2"/> are r<span class="_ _2"/>ecognised in <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement<span class="_ _2"/> under<span class="_ _2"/> operating costs and <span class="_ _2"/>tax.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"> </span>SIGNIFICANT AC<span class="_ _2"/>COUNTING ESTIMATES </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provisions for<span class="_ _0"/> legal disputes</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Management’<span class="_ _2"/>s estimate of <span class="_ _2"/>the provisions f<span class="_ _2"/>or le<span class="_ _2"/>gal dis-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">putes,<span class="_ _2"/> including disputes r<span class="_ _2"/>egarding <span class="_ _2"/>taxes and duties,<span class="_ _2"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on the knowledg<span class="_ _2"/>e available on <span class="_ _2"/>the substance of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the cases and a legal assessmen<span class="_ _2"/>t of these<span class="_ _2"/>. <span class="_ _2"/>The resolution<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of legal disputes <span class="_ _2"/>through either<span class="_ _0"/> negotiations or<span class="_ _2"/> litigation </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">can tak<span class="_ _2"/>e sever<span class="_ _2"/>al y<span class="_ _2"/>ears to be r<span class="_ _2"/>eached and the outcomes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are subject<span class="_ _2"/> to consider<span class="_ _2"/>able uncertainty<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provisions<span class="ff3"> ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised when <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk has a </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">present<span class="_ _2"/> legal or<span class="_ _2"/> constructive oblig<span class="_ _2"/>ation from past<span class="_ _2"/> events<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The item includes,<span class="_ _2"/> among other<span class="_ _2"/> things<span class="_ _2"/>, le<span class="_ _2"/>gal disputes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and provisions f<span class="_ _2"/>or<span class="_ _2"/> onerous contr<span class="_ _2"/>acts and unfav<span class="_ _2"/>ourable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contr<span class="_ _2"/>acts acquired as part<span class="_ _2"/> of a business combination.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provisions ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised based on best estimat<span class="_ _2"/>es and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are discount<span class="_ _2"/>ed where <span class="_ _2"/>the time element<span class="_ _2"/> is significant and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">where <span class="_ _2"/>the time of settlement<span class="_ _2"/> is reasonabl<span class="_ _2"/>y determinable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 5.4 <span class="_ _64"> </span>Contingent liabilities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Contingent<span class="_ _2"/> liabilities consist of leg<span class="_ _2"/>al cases, <span class="_ _2"/>tax issues,<span class="_ _2"/> custom bonds,<span class="_ _2"/> <span class="_ _2"/>volume commitments and other<span class="_ _2"/> disputes.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Legal</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group is inv<span class="_ _2"/>olved in sev<span class="_ _2"/>eral le<span class="_ _2"/>gal cases and other<span class="_ _2"/> disputes.<span class="_ _2"/> Some of these inv<span class="_ _2"/>olve significant<span class="_ _2"/> amounts and are subject </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to consider<span class="_ _2"/>able uncertainty<span class="_ _2"/>.<span class="_ _2"/> Management<span class="_ _2"/> continuously as<span class="_ _2"/>sesses the risks associated <span class="_ _2"/>with the cases and disputes<span class="_ _2"/>, and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">their<span class="_ _2"/> likely<span class="_ _2"/> outcome.<span class="_ _2"/> It<span class="_ _2"/> is the opinion of Management<span class="_ _2"/> that,<span class="_ _2"/> apart<span class="_ _2"/> from items r<span class="_ _2"/>ecognised in <span class="_ _2"/>the financial statements<span class="_ _2"/>, <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">outcome of these cases and disput<span class="_ _2"/>es are not<span class="_ _2"/> probable or<span class="_ _2"/> cannot be r<span class="_ _2"/>eliably<span class="_ _2"/> estimated in <span class="_ _2"/>terms of amount or<span class="_ _0"/> timing. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The <span class="_ _1"/>Group does not<span class="_ _2"/> expect <span class="_ _2"/>these to hav<span class="_ _2"/>e a material impact<span class="_ _2"/> on the consolidat<span class="_ _2"/>ed financial statements.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ta<span class="_ _5"/>x</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group is subject<span class="_ _2"/> to a <span class="_ _2"/>tax audit in German<span class="_ _2"/>y concerning al<span class="_ _2"/>location of taxation<span class="_ _2"/> rights to shipping income between<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Denmark and Germany as well as <span class="_ _2"/>to a <span class="_ _2"/>tax investigation in<span class="_ _2"/> India concerning a deemed supply<span class="_ _2"/> of services between Indian </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">GST<span class="_ _2"/> re<span class="_ _2"/>gistrations of <span class="_ _2"/>A.P<span class="_ _4"/>. Moller - Maersk<span class="_ _1"/> in India.<span class="_ _2"/> The Gr<span class="_ _2"/>oup is also involv<span class="_ _2"/>ed in various other<span class="_ _0"/> tax disputes including indirect<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax disputes,<span class="_ _2"/> some of which inv<span class="_ _2"/>olve significant<span class="_ _2"/> amounts.<span class="_ _2"/> Management c<span class="_ _2"/>ontinuously asses<span class="_ _2"/>ses the risks associated <span class="_ _2"/>with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax disputes and their<span class="_ _0"/> likely out<span class="_ _2"/>come and considers the risk r<span class="_ _2"/>elated t<span class="_ _2"/>o these disputes r<span class="_ _2"/>emote and ther<span class="_ _2"/>efor<span class="_ _2"/>e does not </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">expect these <span class="_ _2"/>to have a ma<span class="_ _2"/>terial impact on <span class="_ _2"/>the consolidated financial stat<span class="_ _2"/>ements.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Throug<span class="_ _1"/>h pa<span class="_ _1"/>rtic<span class="_ _1"/>ipat<span class="_ _1"/>ion <span class="_ _1"/>in a <span class="_ _1"/>join<span class="_ _1"/>t taxatio<span class="_ _1"/>n sc<span class="_ _1"/>heme<span class="_ _1"/> wit<span class="_ _1"/>h A.P<span class="_ _4"/>. Møller<span class="_ _0"/> Holding A/S,<span class="_ _2"/> <span class="_ _2"/>the Danish companies are jointl<span class="_ _2"/>y and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sever<span class="_ _2"/>ally<span class="_ _2"/> liable for<span class="_ _2"/> tax<span class="_ _2"/>es payable,<span class="_ _2"/> etc.,<span class="_ _2"/> in Denmark.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Custom bonds of USD 830m<span class="_ _2"/> (USD 472m) hav<span class="_ _2"/>e been provided <span class="_ _2"/>to v<span class="_ _2"/>arious port authorities in India.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Maersk Line and <span class="_ _2"/>APM T<span class="_ _0"/>erminals have ent<span class="_ _2"/>ered into a<span class="_ _2"/> number<span class="_ _2"/> of agreements with<span class="_ _2"/> terminals and port<span class="_ _2"/> authorities etc.,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comp<span class="_ _1"/>risi<span class="_ _1"/>ng volume commitments including an extr<span class="_ _2"/>a payment<span class="_ _2"/> in case minimum <span class="_ _2"/>volumes are not<span class="_ _2"/> met. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Except f<span class="_ _2"/>or<span class="_ _2"/> customary agr<span class="_ _2"/>eements within <span class="_ _2"/>the Group’<span class="_ _2"/>s activities,<span class="_ _2"/> no material agr<span class="_ _2"/>eements have been en<span class="_ _2"/>tered int<span class="_ _2"/>o <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">that will <span class="_ _2"/>take eff<span class="_ _2"/>ect, change<span class="_ _2"/>, or<span class="_ _2"/> expir<span class="_ _2"/>e upon changes of <span class="_ _2"/>the control ov<span class="_ _2"/>er <span class="_ _2"/>the company<span class="_ _0"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 3.<span class="_ _0"/>7 <span class="_"> </span>Pr<span class="_ _2"/>ovisions</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:267.640625px;"><span style="position: absolute; display: inline-block; left: 263.469px; top: 0.0136718px; width: 141.34px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Restructuring<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.8848px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Legal dis-</span><span style="position: absolute; display: inline-block; left: 454.141px; top: 0.0136718px; width: 102.451px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 354.125px; top: 12.0137px; width: 50.4668px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">putes, etc.</span><span style="position: absolute; display: inline-block; left: 0px; top: 36.6855px; width: 556.705px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 240.492px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">68<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,182<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>369<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,619</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 51.5762px; width: 556.652px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Provision<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> made<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 236.525px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>151<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>488<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>283<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>922</span><span style="position: absolute; display: inline-block; left: 0px; top: 66.4668px; width: 556.863px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Amount used<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 251.566px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>61<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>239<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>144<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>444</span><span style="position: absolute; display: inline-block; left: 0px; top: 81.3574px; width: 556.963px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Amount r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>eversed<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 233.578px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>34<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>238<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>57<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>328</span><span style="position: absolute; display: inline-block; left: 0px; top: 96.248px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions from acquir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed companies<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 153.914px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2</span><span style="position: absolute; display: inline-block; left: 0px; top: 111.139px; width: 557.033px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals from companies sold<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 174.844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>28<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>29</span><span style="position: absolute; display: inline-block; left: 0px; top: 126.029px; width: 557.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 180.931px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.3906px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-12</span><span style="position: absolute; display: inline-block; left: 0px; top: 140.92px; width: 556.869px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 192.943px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-18<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-20</span><span style="position: absolute; display: inline-block; left: 0px; top: 155.795px; width: 557.021px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.58px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>126<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,176<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>407<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,709</span><span style="position: absolute; display: inline-block; left: 0px; top: 185.902px; width: 40.6699px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Of<span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> which:</span><span style="position: absolute; display: inline-block; left: 0px; top: 200.482px; width: 556.805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 196.951px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>691<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>195<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>897</span><span style="position: absolute; display: inline-block; left: 0px; top: 215.373px; width: 556.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 212.619px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>115<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>485<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>212<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>812</span><span style="position: absolute; display: inline-block; left: 0px; top: 245.154px; width: 171.334px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> provisions e<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>xpected to </span><span style="position: absolute; display: inline-block; left: 0px; top: 257.154px; width: 556.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">be realised after<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> more than five <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>years<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.77px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>36<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>27<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>64</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Restructuring includes pro<span class="_ _2"/>visions for<span class="_ _2"/> decided and publicly announc<span class="_ _2"/>ed restructurings and includes mainly<span class="_ _2"/> staff redundancy </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">costs.<span class="_ _2"/> Legal disputes<span class="_ _2"/>, etc.<span class="_ _2"/> include,<span class="_ _2"/> among other<span class="_ _2"/> things<span class="_ _2"/>, indir<span class="_ _2"/>ect <span class="_ _2"/>tax and duty disputes<span class="_ _2"/>. Other<span class="_ _2"/> primarily<span class="_ _2"/> includes provisions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">for<span class="_ _2"/> warr<span class="_ _2"/>anties,<span class="_ _2"/> and oner<span class="_ _2"/>ous contracts<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Reversals of pr<span class="_ _2"/>ovisions primarily<span class="_ _2"/> relat<span class="_ _2"/>e to leg<span class="_ _2"/>al disputes and contr<span class="_ _2"/>actual disagreements<span class="_ _2"/>, which<span class="_ _2"/> are r<span class="_ _2"/>ecognised in <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement<span class="_ _2"/> under<span class="_ _2"/> operating costs and <span class="_ _2"/>tax.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"> </span>SIGNIFICANT AC<span class="_ _2"/>COUNTING ESTIMATES </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provisions for<span class="_ _0"/> legal disputes</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Management’<span class="_ _2"/>s estimate of <span class="_ _2"/>the provisions f<span class="_ _2"/>or le<span class="_ _2"/>gal dis-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">putes,<span class="_ _2"/> including disputes r<span class="_ _2"/>egarding <span class="_ _2"/>taxes and duties,<span class="_ _2"/> is </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on the knowledg<span class="_ _2"/>e available on <span class="_ _2"/>the substance of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the cases and a legal assessmen<span class="_ _2"/>t of these<span class="_ _2"/>. <span class="_ _2"/>The resolution<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of legal disputes <span class="_ _2"/>through either<span class="_ _0"/> negotiations or<span class="_ _2"/> litigation </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">can tak<span class="_ _2"/>e sever<span class="_ _2"/>al y<span class="_ _2"/>ears to be r<span class="_ _2"/>eached and the outcomes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are subject<span class="_ _2"/> to consider<span class="_ _2"/>able uncertainty<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provisions<span class="ff3"> ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised when <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk has a </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">present<span class="_ _2"/> legal or<span class="_ _2"/> constructive oblig<span class="_ _2"/>ation from past<span class="_ _2"/> events<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The item includes,<span class="_ _2"/> among other<span class="_ _2"/> things<span class="_ _2"/>, le<span class="_ _2"/>gal disputes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and provisions f<span class="_ _2"/>or<span class="_ _2"/> onerous contr<span class="_ _2"/>acts and unfav<span class="_ _2"/>ourable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contr<span class="_ _2"/>acts acquired as part<span class="_ _2"/> of a business combination.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provisions ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised based on best estimat<span class="_ _2"/>es and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are discount<span class="_ _2"/>ed where <span class="_ _2"/>the time element<span class="_ _2"/> is significant and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">where <span class="_ _2"/>the time of settlement<span class="_ _2"/> is reasonabl<span class="_ _2"/>y determinable.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provisions<span class="ff3"> ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised when <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk has a </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">present<span class="_ _2"/> legal or<span class="_ _2"/> constructive oblig<span class="_ _2"/>ation from past<span class="_ _2"/> events<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The item includes,<span class="_ _2"/> among other<span class="_ _2"/> things<span class="_ _2"/>, le<span class="_ _2"/>gal disputes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and provisions f<span class="_ _2"/>or<span class="_ _2"/> onerous contr<span class="_ _2"/>acts and unfav<span class="_ _2"/>ourable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contr<span class="_ _2"/>acts acquired as part<span class="_ _2"/> of a business combination.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Provisions ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised based on best estimat<span class="_ _2"/>es and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are discount<span class="_ _2"/>ed where <span class="_ _2"/>the time element<span class="_ _2"/> is significant and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">where <span class="_ _2"/>the time of settlement<span class="_ _2"/> is reasonabl<span class="_ _2"/>y determinable.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 4.<span class="_ _2"/>1 <span class="_"> </span>Shar<span class="_ _2"/>e capital and e<span class="_ _2"/>arnings per share</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:191.359375px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 96.8848px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Development<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> in the <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 524.467px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">number<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> of shares:<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 98.8946px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>A<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> shares of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 88.0196px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>B shares of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.0685px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Nominal value</span></span><span style="position: absolute; display: inline-block; left: 161.484px; top: 36.6855px; width: 395.432px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">DKK 1,000<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.7754px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>DKK 500<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>DKK 1,000<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.7754px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>DKK 500<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.7754px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>DKK mil<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>lion<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 9.35741px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD million</span><span style="position: absolute; display: inline-block; left: 0px; top: 61.373px; width: 556.939px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2022<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.0685px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">10,468,107<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>216<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8,907,718<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>166<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>19,376<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,513</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 76.248px; width: 559.424px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Conversions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.478px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.1875px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 91.1387px; width: 556.775px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cancellations<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 107.379px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>133,779<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.6758px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>535,076<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>669<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>121</span><span style="position: absolute; display: inline-block; left: 0px; top: 106.42px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 62.6542px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>10,334,329<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>214<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>8,372,645<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>160<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>18,707<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,392</span><span style="position: absolute; display: inline-block; left: 0px; top: 136.217px; width: 556.939px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.0685px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">10,334,329<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>214<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8,372,645<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>160<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>18,707<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,392</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 151.107px; width: 556.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Conversions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.478px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-</span><span style="position: absolute; display: inline-block; left: 0px; top: 165.982px; width: 557.244px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cancellations<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 107.379px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>227,390<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>910,056<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,137<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>206</span><span style="position: absolute; display: inline-block; left: 0px; top: 180.873px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 62.6542px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>10,106,940<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>212<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>7,462,590<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>158<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>17,570<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,186</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">All shar<span class="_ _2"/>es are full<span class="_ _2"/>y issued and paid up.<span class="_ _2"/> One <span class="_ _2"/>A shar<span class="_ _2"/>e of DKK 1,000 holds tw<span class="_ _2"/>o votes<span class="_ _2"/>. B shar<span class="_ _2"/>es have no <span class="_ _2"/>voting rights.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">At<span class="_ _2"/> the <span class="_ _2"/>Annual General Meeting of <span class="_ _2"/>A.<span class="_ _2"/>P<span class="_ _4"/>. Mø<span class="_ _2"/>ller<span class="_ _0"/> - Mær<span class="_ _2"/>sk <span class="_ _2"/>A/S<span class="_ _2"/> on 28 March 2023<span class="_ _2"/>,<span class="_ _2"/> the shar<span class="_ _2"/>eholders decided on the <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cancellation of <span class="_ _2"/>treasury<span class="_ _2"/> shares,<span class="_ _2"/> wher<span class="_ _2"/>eby <span class="_ _2"/>the share capital <span class="_ _2"/>would be decreased.<span class="_ _2"/> On 7<span class="_ _2"/> June 2023<span class="_ _2"/>, <span class="_ _2"/>the company’<span class="_ _2"/>s share </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">capital was decr<span class="_ _2"/>eased from nominal<span class="_ _2"/>ly DKK 18<span class="_ _2"/>,<span class="_ _2"/>70<span class="_ _2"/>7<span class="_ _0"/>,<span class="_ _0"/>161,000 to nominall<span class="_ _2"/>y DKK 17<span class="_ _0"/>,569<span class="_ _2"/>,<span class="_ _2"/>715,000<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The reduction in<span class="_ _2"/> the share capital has been<span class="_ _2"/> recor<span class="_ _2"/>ded by appl<span class="_ _2"/>ying the historical r<span class="_ _2"/>ate of ex<span class="_ _2"/>change of USD/DKK 5<span class="_ _2"/>.5153.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:235.640625px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 96.8848px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Development<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> in the <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 12.0293px; width: 532.646px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">holding of tr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>easury shar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>es:<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 19.4824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> No. of shar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>es of DKK 1,000<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 11.5196px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> Nominal value DKK million<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.0508px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>% of share capital</span><span style="position: absolute; display: inline-block; left: 0px; top: 36.7012px; width: 556.664px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>easury shares<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 113.508px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.5998px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.5998px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 61.6836px; width: 37.6582px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">A shares</span><span style="position: absolute; display: inline-block; left: 0px; top: 76.2637px; width: 556.799px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 124.547px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">201,717<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>120,494<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>202<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>121<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1.08%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>0.62%</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 91.1543px; width: 556.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>332,309<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>215,002<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>332<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>215<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1.89%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1.15%</span><span style="position: absolute; display: inline-block; left: 0px; top: 106.045px; width: 556.723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cancellations<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 107.379px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>227,390<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>133,779<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>227<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>134<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1.22%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>0.69%</span><span style="position: absolute; display: inline-block; left: 0px; top: 120.92px; width: 557.027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 106.576px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>306,636<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>201,717<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>307<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>202<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1.75%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1.08%</span><span style="position: absolute; display: inline-block; left: 0px; top: 151.027px; width: 37.5703px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">B shares</span><span style="position: absolute; display: inline-block; left: 0px; top: 165.607px; width: 556.799px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 124.547px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">887,557<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>549,587<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>888<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>550<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4.74%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2.84%</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 180.498px; width: 556.975px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.18px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,327,842<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>904,856<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,328<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>905<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7.54%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4.83%</span><span style="position: absolute; display: inline-block; left: 0px; top: 195.389px; width: 556.723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cancellations<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 107.379px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>910,056<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>535,076<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>910<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>535<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4.86%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2.76%</span><span style="position: absolute; display: inline-block; left: 0px; top: 210.279px; width: 556.975px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 132.451px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>26,223<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 28.166px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>31,810<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>27<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>32<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>0.14%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>0.17%</span><span style="position: absolute; display: inline-block; left: 0px; top: 225.154px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 96.6855px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,279,120<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>887,557<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,279<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>888<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.3866px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>7.28%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4.74%</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Disposals of tr<span class="_ _2"/>easury shar<span class="_ _2"/>es are r<span class="_ _2"/>elated t<span class="_ _2"/>o the share option<span class="_ _2"/> plan and the r<span class="_ _2"/>estricted shares plan.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">From 1 <span class="_ _2"/>January 2023 <span class="_ _2"/>to 31 December<span class="_ _2"/> 2023,<span class="_ _2"/> <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk bought back as <span class="_ _2"/>treasury<span class="_ _2"/> shares 171,022 <span class="_ _2"/>A<span class="_ _2"/> shares,<span class="_ _2"/> with a<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nominal v<span class="_ _2"/>alue of DKK 171m, and 514<span class="_ _2"/>,238 B shares,<span class="_ _2"/> with a nominal <span class="_ _2"/>value of DKK 514m,<span class="_ _2"/> from<span class="_ _2"/> A.P<span class="_ _4"/>. Møller<span class="_ _0"/> Holding A/S and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">162,005 B shares<span class="_ _2"/>, with<span class="_ _2"/> a nominal v<span class="_ _2"/>alue of DKK 162m, fr<span class="_ _2"/>om <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Møller<span class="_ _2"/> og Hustru Chastine Mc<span class="_ _0"/>-Kinney Møllers F<span class="_ _2"/>amilie-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fond,<span class="_ _2"/> which ar<span class="_ _2"/>e considered r<span class="_ _2"/>elated parties.<span class="_ _2"/> The shar<span class="_ _2"/>e buy<span class="_ _2"/>-back was carried out<span class="_ _2"/> with the purpose <span class="_ _2"/>to adjust<span class="_ _2"/> the capital </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">structure of <span class="_ _2"/>the company<span class="_ _0"/>. Cancellation o<span class="_ _2"/>f shares which ar<span class="_ _2"/>e not used f<span class="_ _2"/>or hedging purposes f<span class="_ _2"/>or<span class="_ _2"/> the long-<span class="_ _2"/>term incentive </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">progr<span class="_ _2"/>ammes wil<span class="_ _2"/>l be proposed at<span class="_ _2"/> the <span class="_ _2"/>Annual General Meeting.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Equity<span class="ff3 ws0"> includes total compr<span class="_ _2"/>ehensive income for<span class="_ _0"/> the year<span class="_ _0"/> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprising the pr<span class="_ _2"/>ofit for<span class="_ _0"/> the year<span class="_ _2"/> and other<span class="_ _2"/> comprehen<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sive income.<span class="_ _2"/> Proceeds on<span class="_ _2"/> the purchase and sale of <span class="_ _2"/>treasury<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">shares and dividend fr<span class="_ _2"/>om such shares ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equity<span class="_ _2"/>.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The tr<span class="_ _2"/>anslation r<span class="_ _2"/>eserve is comprised of <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">share of accumulat<span class="_ _2"/>ed exchange r<span class="_ _2"/>ate differ<span class="_ _2"/>ences arising </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on tr<span class="_ _2"/>anslation from functional cur<span class="_ _2"/>r<span class="_ _2"/>enc<span class="_ _2"/>y<span class="_ _2"/> in<span class="_ _2"/>to<span class="_ _2"/> pr<span class="_ _0"/>esen<span class="_ _2"/>ta<span class="_ _2"/>ti<span class="_ _2"/>on<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currency<span class="_ _0"/>. <span class="_ _2"/>The reserve for<span class="_ _0"/> other equity in<span class="_ _2"/>vestments is com<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prised of accumulated changes in the fair value o<span class="_ _1"/>f eq<span class="_ _1"/>uit<span class="_ _1"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">investments (at<span class="_ _2"/> FVOCI),<span class="_ _2"/> net of <span class="_ _2"/>tax. R<span class="_ _2"/>eserves for<span class="_ _2"/> hedges </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">includes the <span class="_ _2"/>accumulated f<span class="_ _2"/>air <span class="_ _2"/>value ch<span class="_ _1"/>ange o<span class="_ _1"/>f de<span class="_ _1"/>rivati<span class="_ _1"/>ves </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">qualifying for<span class="_ _2"/> cash flow hedge a<span class="_ _2"/>ccou<span class="_ _2"/>ntin<span class="_ _2"/>g,<span class="_ _2"/> les<span class="_ _2"/>s amo<span class="_ _2"/>unts<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">already<span class="_ _2"/> reclassified <span class="_ _2"/>to the income stat<span class="_ _2"/>ement or<span class="_ _2"/> <span class="_ _2"/>trans<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fer<span class="_ _1"/>red<span class="_ _1"/> a<span class="_ _1"/>s<span class="_ _1"/> b<span class="_ _1"/>as<span class="_ _1"/>is<span class="_ _1"/> a<span class="_ _1"/>d<span class="_ _1"/>ju<span class="_ _1"/>st<span class="_ _1"/>ments,<span class="_ _2"/> net of tax,<span class="_ _2"/> as wel<span class="_ _2"/>l as forwar<span class="_ _2"/>d </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">points and currency<span class="_ _2"/> basi<span class="_ _1"/>s sp<span class="_ _1"/>read.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 4.<span class="_ _2"/>1 <span class="_"> </span>Shar<span class="_ _2"/>e capital and e<span class="_ _2"/>arnings per share</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:191.359375px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 96.8848px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Development<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> in the <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 524.467px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">number<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> of shares:<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 98.8946px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>A<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> shares of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 88.0196px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>B shares of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.0685px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Nominal value</span></span><span style="position: absolute; display: inline-block; left: 161.484px; top: 36.6855px; width: 395.432px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">DKK 1,000<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.7754px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>DKK 500<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>DKK 1,000<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.7754px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>DKK 500<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.7754px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>DKK mil<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>lion<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 9.35741px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD million</span><span style="position: absolute; display: inline-block; left: 0px; top: 61.373px; width: 556.939px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2022<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.0685px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">10,468,107<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>216<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8,907,718<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>166<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>19,376<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,513</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 76.248px; width: 559.424px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Conversions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.478px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.1875px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 91.1387px; width: 556.775px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cancellations<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 107.379px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>133,779<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.6758px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>535,076<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>669<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>121</span><span style="position: absolute; display: inline-block; left: 0px; top: 106.42px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 62.6542px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>10,334,329<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>214<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>8,372,645<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>160<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>18,707<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,392</span><span style="position: absolute; display: inline-block; left: 0px; top: 136.217px; width: 556.939px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.0685px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">10,334,329<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>214<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8,372,645<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>160<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>18,707<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,392</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 151.107px; width: 556.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Conversions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.478px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-</span><span style="position: absolute; display: inline-block; left: 0px; top: 165.982px; width: 557.244px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cancellations<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 107.379px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>227,390<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>910,056<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,137<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>206</span><span style="position: absolute; display: inline-block; left: 0px; top: 180.873px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 62.6542px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>10,106,940<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>212<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>7,462,590<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>158<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>17,570<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,186</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">All shar<span class="_ _2"/>es are full<span class="_ _2"/>y issued and paid up.<span class="_ _2"/> One <span class="_ _2"/>A shar<span class="_ _2"/>e of DKK 1,000 holds tw<span class="_ _2"/>o votes<span class="_ _2"/>. B shar<span class="_ _2"/>es have no <span class="_ _2"/>voting rights.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">At<span class="_ _2"/> the <span class="_ _2"/>Annual General Meeting of <span class="_ _2"/>A.<span class="_ _2"/>P<span class="_ _4"/>. Mø<span class="_ _2"/>ller<span class="_ _0"/> - Mær<span class="_ _2"/>sk <span class="_ _2"/>A/S<span class="_ _2"/> on 28 March 2023<span class="_ _2"/>,<span class="_ _2"/> the shar<span class="_ _2"/>eholders decided on the <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cancellation of <span class="_ _2"/>treasury<span class="_ _2"/> shares,<span class="_ _2"/> wher<span class="_ _2"/>eby <span class="_ _2"/>the share capital <span class="_ _2"/>would be decreased.<span class="_ _2"/> On 7<span class="_ _2"/> June 2023<span class="_ _2"/>, <span class="_ _2"/>the company’<span class="_ _2"/>s share </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">capital was decr<span class="_ _2"/>eased from nominal<span class="_ _2"/>ly DKK 18<span class="_ _2"/>,<span class="_ _2"/>70<span class="_ _2"/>7<span class="_ _0"/>,<span class="_ _0"/>161,000 to nominall<span class="_ _2"/>y DKK 17<span class="_ _0"/>,569<span class="_ _2"/>,<span class="_ _2"/>715,000<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The reduction in<span class="_ _2"/> the share capital has been<span class="_ _2"/> recor<span class="_ _2"/>ded by appl<span class="_ _2"/>ying the historical r<span class="_ _2"/>ate of ex<span class="_ _2"/>change of USD/DKK 5<span class="_ _2"/>.5153.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:235.640625px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 96.8848px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Development<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> in the <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 12.0293px; width: 532.646px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">holding of tr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>easury shar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>es:<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 19.4824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> No. of shar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>es of DKK 1,000<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 11.5196px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> Nominal value DKK million<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.0508px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>% of share capital</span><span style="position: absolute; display: inline-block; left: 0px; top: 36.7012px; width: 556.664px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>easury shares<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 113.508px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.5998px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.5998px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 61.6836px; width: 37.6582px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">A shares</span><span style="position: absolute; display: inline-block; left: 0px; top: 76.2637px; width: 556.799px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 124.547px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">201,717<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>120,494<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>202<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>121<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1.08%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>0.62%</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 91.1543px; width: 556.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>332,309<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>215,002<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>332<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>215<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1.89%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1.15%</span><span style="position: absolute; display: inline-block; left: 0px; top: 106.045px; width: 556.723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cancellations<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 107.379px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>227,390<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>133,779<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>227<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>134<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1.22%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>0.69%</span><span style="position: absolute; display: inline-block; left: 0px; top: 120.92px; width: 557.027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 106.576px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>306,636<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>201,717<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>307<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>202<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1.75%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1.08%</span><span style="position: absolute; display: inline-block; left: 0px; top: 151.027px; width: 37.5703px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">B shares</span><span style="position: absolute; display: inline-block; left: 0px; top: 165.607px; width: 556.799px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 124.547px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">887,557<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>549,587<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>888<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>550<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4.74%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2.84%</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 180.498px; width: 556.975px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.18px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,327,842<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>904,856<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,328<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>905<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7.54%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4.83%</span><span style="position: absolute; display: inline-block; left: 0px; top: 195.389px; width: 556.723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cancellations<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 107.379px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>910,056<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>535,076<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>910<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>535<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4.86%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2.76%</span><span style="position: absolute; display: inline-block; left: 0px; top: 210.279px; width: 556.975px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 132.451px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>26,223<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 28.166px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>31,810<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>27<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>32<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>0.14%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>0.17%</span><span style="position: absolute; display: inline-block; left: 0px; top: 225.154px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 96.6855px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,279,120<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>887,557<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,279<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>888<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.3866px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>7.28%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4.74%</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Disposals of tr<span class="_ _2"/>easury shar<span class="_ _2"/>es are r<span class="_ _2"/>elated t<span class="_ _2"/>o the share option<span class="_ _2"/> plan and the r<span class="_ _2"/>estricted shares plan.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">From 1 <span class="_ _2"/>January 2023 <span class="_ _2"/>to 31 December<span class="_ _2"/> 2023,<span class="_ _2"/> <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk bought back as <span class="_ _2"/>treasury<span class="_ _2"/> shares 171,022 <span class="_ _2"/>A<span class="_ _2"/> shares,<span class="_ _2"/> with a<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">nominal v<span class="_ _2"/>alue of DKK 171m, and 514<span class="_ _2"/>,238 B shares,<span class="_ _2"/> with a nominal <span class="_ _2"/>value of DKK 514m,<span class="_ _2"/> from<span class="_ _2"/> A.P<span class="_ _4"/>. Møller<span class="_ _0"/> Holding A/S and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">162,005 B shares<span class="_ _2"/>, with<span class="_ _2"/> a nominal v<span class="_ _2"/>alue of DKK 162m, fr<span class="_ _2"/>om <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Møller<span class="_ _2"/> og Hustru Chastine Mc<span class="_ _0"/>-Kinney Møllers F<span class="_ _2"/>amilie-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fond,<span class="_ _2"/> which ar<span class="_ _2"/>e considered r<span class="_ _2"/>elated parties.<span class="_ _2"/> The shar<span class="_ _2"/>e buy<span class="_ _2"/>-back was carried out<span class="_ _2"/> with the purpose <span class="_ _2"/>to adjust<span class="_ _2"/> the capital </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">structure of <span class="_ _2"/>the company<span class="_ _0"/>. Cancellation o<span class="_ _2"/>f shares which ar<span class="_ _2"/>e not used f<span class="_ _2"/>or hedging purposes f<span class="_ _2"/>or<span class="_ _2"/> the long-<span class="_ _2"/>term incentive </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">progr<span class="_ _2"/>ammes wil<span class="_ _2"/>l be proposed at<span class="_ _2"/> the <span class="_ _2"/>Annual General Meeting.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Capital management</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The capital structure is managed f<span class="_ _2"/>or<span class="_ _2"/> the Group in<span class="_ _2"/> accordance with<span class="_ _2"/> the financial policy<span class="_ _0"/>, as approv<span class="_ _2"/>ed by <span class="_ _2"/>the Board of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Directors<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Capital is managed <span class="_ _2"/>to meet <span class="_ _2"/>the objective of a solid capital structur<span class="_ _2"/>e over<span class="_ _2"/> the business cycle and <span class="_ _2"/>to maintain a liquidity<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">profil<span class="_ _1"/>e in <span class="_ _1"/>lin<span class="_ _1"/>e wit<span class="_ _1"/>h an <span class="_ _1"/>inves<span class="_ _1"/>tmen<span class="_ _1"/>t grade c<span class="_ _1"/>redit rating<span class="_ _1"/>. <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk remains in<span class="_ _2"/>vestment gr<span class="_ _2"/>ade-r<span class="_ _2"/>ated and holds a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Baa2 (positive outlook) r<span class="_ _2"/>ating from Moody’<span class="_ _2"/>s and a BBB+ (stable) r<span class="_ _2"/>ating fr<span class="_ _2"/>om Standard &amp; P<span class="_ _2"/>oor’s<span class="_ _2"/>. <span class="_ _2"/>The equity shar<span class="_ _2"/>e of t<span class="_ _2"/>otal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">equity and liabilities w<span class="_ _2"/>as 67% (69%) at <span class="_ _2"/>the end of 2023.<span class="_ _2"/> Shar<span class="_ _2"/>e buy-backs of maximum<span class="_ _2"/> 15% of the shar<span class="_ _2"/>e capital can be de-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cided by <span class="_ _2"/>the Board of Dir<span class="_ _2"/>ectors,<span class="_ _2"/> and dividends paid out ar<span class="_ _2"/>e to be betw<span class="_ _2"/>een 30-50% of the underl<span class="_ _2"/>ying profit<span class="_ _2"/> in accordance </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with the compan<span class="_ _2"/>y’s dividend policy<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 4.5 <span class="_"> </span>Financial instrumen<span class="_ _2"/>ts and risks</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:243.640625px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 557.08px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">The gain/losses of the deriv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>atives ar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e recognised as f<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ollows:<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 172.723px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 557.098px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Hedging foreign<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> exchange risk on r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>evenue<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 273.363px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-7</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 556.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Hedging foreign<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> exchange risk on oper<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ating costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 236.525px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>41<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-127</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.811px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Hedging interest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate risk<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 344.49px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-33</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Hedging foreign<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> exchange risk on <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>the cost of non-curr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ent assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 173.197px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-30</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 557.232px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal effective hedging<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 355.611px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-197</span><span style="position: absolute; display: inline-block; left: 0px; top: 99.1387px; width: 557.016px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Ineffectiveness r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ecognised in financial expenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.148px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>16</span><span style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 557.18px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal reclassified from equity r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>eserve for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> hedges<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 233.578px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-181</span><span style="position: absolute; display: inline-block; left: 0px; top: 144.121px; width: 200.104px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Derivatives accounted for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> as held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> trading:</span><span style="position: absolute; display: inline-block; left: 0px; top: 158.701px; width: 557.338px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Currency<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> derivatives r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ecognised dir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ectly in<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> financial income/<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>expenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 136.928px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>154<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-276</span><span style="position: absolute; display: inline-block; left: 0px; top: 173.592px; width: 557.203px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate deriva<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tives reco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised directly<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> in financial income/<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>expenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 127.16px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>44<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-196</span><span style="position: absolute; display: inline-block; left: 0px; top: 188.482px; width: 557.402px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Oil prices and freight<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> ra<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>te derivatives r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ecognised dir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ectly<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> in other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> income/<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 95.3906px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-23<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-150</span><span style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 557.402px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net gains/losses r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ecognised directl<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>y in <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>the income statement<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 167.408px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>175<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-622</span><span style="position: absolute; display: inline-block; left: 0px; top: 233.154px; width: 557.021px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 436.207px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>190<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-803</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _2"/>s deriva<span class="_ _2"/>tives are pr<span class="_ _2"/>esented at<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue in the balance sheet.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _2"/>s activities expose it<span class="_ _2"/> to a <span class="_ _2"/>variety<span class="_ _2"/> of financial risks:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span>Market<span class="_ _2"/> risks,<span class="_ _2"/> i.e.,<span class="_ _2"/> currency<span class="_ _2"/> risk, in<span class="_ _2"/>terest<span class="_ _2"/> ra<span class="_ _2"/>te risk and oil price risk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span>Credit<span class="_ _2"/> risk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span>Liquidity risk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _2"/>s over<span class="_ _2"/>all risk manag<span class="_ _2"/>ement pr<span class="_ _2"/>ogr<span class="_ _2"/>amme focuses on the unpr<span class="_ _2"/>edictability of financial mark<span class="_ _2"/>ets and seeks t<span class="_ _2"/>o </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">minimise the poten<span class="_ _2"/>tial adverse effects on <span class="_ _2"/>the Group’<span class="_ _2"/>s financial performance<span class="_ _2"/>. <span class="_ _2"/>The Group uses deriv<span class="_ _2"/>ative financial <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inst<span class="_ _1"/>ruments to hedge certain risk e<span class="_ _2"/>xposures.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Risk management is carried out<span class="_ _2"/> by a<span class="_ _2"/> centr<span class="_ _2"/>al finance department under<span class="_ _2"/> policies appr<span class="_ _2"/>oved by <span class="_ _2"/>the Board of Dir<span class="_ _2"/>ectors.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The finance department identifies<span class="_ _2"/>, e<span class="_ _2"/>valuates and hedges financial risk<span class="_ _2"/>s in close coopera<span class="_ _2"/>tion with the Gr<span class="_ _2"/>oup’<span class="_ _2"/>s entities.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span><span><span style="display:inherit;clear:left;">Mark<span class="_ _2"/>et risk is the risk <span class="_ _2"/>that chang<span class="_ _2"/>es in market<span class="_ _2"/> prices,<span class="_ _2"/> such as for<span class="_ _2"/>eign exchange r<span class="_ _2"/>ates and int<span class="_ _2"/>erest r<span class="_ _2"/>at<span class="_ _2"/>es, <span class="_ _2"/>will affect<span class="_ _2"/> </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the Group’<span class="_ _2"/>s pr<span class="_ _2"/>ofit or<span class="_ _2"/> the <span class="_ _2"/>value of its holdings of financial instruments<span class="_ _2"/>. <span class="_ _2"/>The sensitivity anal<span class="_ _2"/>yses in the curr<span class="_ _2"/>ency risk and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inter<span class="_ _2"/>est r<span class="_ _2"/>ate risk sections rela<span class="_ _2"/>te t<span class="_ _2"/>o the position of financial instruments at<span class="_ _2"/> 31 December<span class="_ _2"/> 2023.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The sensitivity analy<span class="_ _2"/>ses for<span class="_ _2"/> currency<span class="_ _2"/> risk and inter<span class="_ _2"/>est r<span class="_ _2"/>ate risk have been<span class="_ _2"/> prepared on<span class="_ _2"/> the basis <span class="_ _2"/>that <span class="_ _2"/>the amount of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">net debt,<span class="_ _2"/> the r<span class="_ _2"/>atio of fixed <span class="_ _2"/>to floating inter<span class="_ _2"/>est r<span class="_ _2"/>ates of <span class="_ _2"/>the debt and <span class="_ _2"/>the proportion of financial instrumen<span class="_ _2"/>ts in foreign<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currencies r<span class="_ _2"/>emain unchanged from<span class="_ _2"/> hedge designations in place at<span class="_ _2"/> 31 December<span class="_ _2"/> 2023.<span class="_ _2"/> Furthermor<span class="_ _2"/>e,<span class="_ _2"/> it is assumed tha<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the exchange r<span class="_ _2"/>ate and int<span class="_ _2"/>erest r<span class="_ _2"/>at<span class="_ _2"/>e sensitivities have a symmetric impact,<span class="_ _2"/> i.e.<span class="_ _2"/> an incr<span class="_ _2"/>ease in ra<span class="_ _2"/>tes resul<span class="_ _2"/>ts in the same ab-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">solute movement<span class="_ _2"/> as a decrease in<span class="_ _2"/> rat<span class="_ _2"/>es.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The sensitivity analy<span class="_ _2"/>ses show the effect<span class="_ _2"/> on pr<span class="_ _2"/>ofit and equity o<span class="_ _2"/>f a reasonably<span class="_ _2"/> possible change in ex<span class="_ _2"/>change ra<span class="_ _2"/>tes and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inter<span class="_ _2"/>est r<span class="_ _2"/>ates.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Hedges comprise primarily<span class="_ _2"/> currency<span class="_ _2"/> derivativ<span class="_ _2"/>es and interest<span class="_ _2"/> ra<span class="_ _2"/>te derivatives<span class="_ _2"/>, <span class="_ _2"/>which are further<span class="_ _2"/> described in <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">following sections.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Currency risk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _2"/>s curr<span class="_ _2"/>ency risk rela<span class="_ _2"/>tes to <span class="_ _2"/>the fact<span class="_ _2"/> that<span class="_ _2"/> while income from<span class="_ _2"/> Ocean activities is denominated mainly<span class="_ _2"/> in USD<span class="_ _2"/>, <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">relat<span class="_ _2"/>ed expenses are incurr<span class="_ _2"/>ed in both USD and a <span class="_ _2"/>wide range of other<span class="_ _0"/> currencies such as EUR, DKK,<span class="_ _2"/> CNY<span class="_ _0"/>, HKD and SGD<span class="_ _2"/>.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">As the net<span class="_ _2"/> income is in USD,<span class="_ _2"/> this is also <span class="_ _2"/>the primary financing curr<span class="_ _2"/>ency<span class="_ _2"/>.<span class="_ _2"/> Income and expenses from<span class="_ _2"/> other activities ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mainly denomina<span class="_ _2"/>ted in local currencies<span class="_ _2"/>, <span class="_ _2"/>thus reducing <span class="_ _2"/>the Group’<span class="_ _2"/>s exposur<span class="_ _2"/>e to <span class="_ _2"/>these currencies<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The main purpose of hedging the Gr<span class="_ _2"/>oup’<span class="_ _2"/>s currency<span class="_ _2"/> risk is to hedge <span class="_ _2"/>the USD <span class="_ _2"/>value of the Gr<span class="_ _2"/>oup’<span class="_ _2"/>s net cash flow and<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reduce fluctuations in<span class="_ _2"/> the Group<span class="_ _2"/>’s pr<span class="_ _2"/>ofit.<span class="_ _2"/> The Gr<span class="_ _2"/>oup uses various financial deriv<span class="_ _2"/>atives,<span class="_ _2"/> including forw<span class="_ _2"/>ards,<span class="_ _2"/> option <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contr<span class="_ _2"/>acts and cross-curr<span class="_ _2"/>ency swaps<span class="_ _2"/>, <span class="_ _2"/>to hedge <span class="_ _2"/>these risks.<span class="_ _2"/> The k<span class="_ _2"/>ey aspects of <span class="_ _2"/>the currency<span class="_ _2"/> hedging policy ar<span class="_ _2"/>e:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span> <span class="_ _4"/>Net cash flows in significant<span class="_ _2"/> currencies other<span class="_ _2"/> than<span class="_ _2"/> USD are hedg<span class="_ _2"/>ed using a layer<span class="_ _2"/>ed model </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with a 12-month horiz<span class="_ _2"/>on</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span> <span class="_ _4"/>Significant capital commitments or<span class="_ _2"/> divestments in curr<span class="_ _2"/>encies other<span class="_ _2"/> than USD<span class="_ _2"/> are hedged</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span> <span class="_ _4"/>Most non-USD debt is hedged,<span class="_ _2"/> howe<span class="_ _2"/>ver<span class="_ _0"/>, depending on the asset<span class="_ _0"/>-liability match and the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currency<span class="_ _2"/> of the gener<span class="_ _2"/>ated cash flo<span class="_ _2"/>w.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Currency<span class="_ _2"/> derivatives hedge futur<span class="_ _2"/>e re<span class="_ _2"/>venue,<span class="_ _2"/> operating c<span class="_ _2"/>osts and investments/<span class="_ _2"/>divestments<span class="_ _2"/>, and ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised on an </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ongoing basis in the inc<span class="_ _2"/>ome statement and <span class="_ _2"/>the cost of pr<span class="_ _2"/>operty<span class="_ _2"/>,<span class="_ _2"/> plant and equipmen<span class="_ _2"/>t, r<span class="_ _2"/>espectively<span class="_ _0"/>. Ther<span class="_ _2"/>e is not an<span class="_ _2"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">proxy<span class="_ _2"/> hedging for<span class="_ _2"/> the curr<span class="_ _2"/>ency risk hedging,<span class="_ _2"/> and ther<span class="_ _2"/>efor<span class="_ _2"/>e the economic r<span class="_ _2"/>elationship between the hedged e<span class="_ _2"/>xposure and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the hedge is high. E<span class="_ _2"/>ffectiveness is assessed using <span class="_ _2"/>the critical terms mat<span class="_ _2"/>ch approach accor<span class="_ _2"/>ding t<span class="_ _2"/>o IFRS 9.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Hedges of future r<span class="_ _2"/>evenue and oper<span class="_ _2"/>ating costs matur<span class="_ _2"/>es within a <span class="_ _2"/>year<span class="_ _2"/> (matures <span class="_ _2"/>within a year).<span class="_ _2"/> <span class="_ _2"/>There ar<span class="_ _2"/>e no hedges of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">investments at<span class="_ _2"/> the end of 2023 (matur<span class="_ _2"/>es within one <span class="_ _2"/>year).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>For<span class="_ _2"/> hedges relat<span class="_ _2"/>ed to oper<span class="_ _2"/>ating and investmen<span class="_ _2"/>t cash flows<span class="_ _2"/>, a loss o<span class="_ _2"/>f USD 8m in 2023 (gain of USD<span class="_ _2"/> 94m) is recognised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in other<span class="_ _2"/> comprehensive inc<span class="_ _2"/>ome, and <span class="_ _2"/>the cash flow hedge r<span class="_ _2"/>eserve amounts t<span class="_ _2"/>o a gain of USD 43m<span class="_ _2"/> at 31 December<span class="_ _0"/> <span class="_ _1"/><span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(gain of USD 51m).<span class="_ _2"/> For<span class="_ _2"/> hedges wher<span class="_ _2"/>e the cost<span class="_ _2"/> of hedging is applied, <span class="_ _2"/>the forwar<span class="_ _2"/>d points are r<span class="_ _2"/>ecognised in other<span class="_ _0"/> com<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prehen<span class="_ _1"/>sive income and tr<span class="_ _2"/>ansferr<span class="_ _2"/>ed with <span class="_ _2"/>the effective hedge when<span class="_ _2"/> the hedged <span class="_ _2"/>transaction oc<span class="_ _2"/>curs. <span class="_ _2"/>The cost<span class="_ _2"/> of hedging </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reserve amoun<span class="_ _2"/>ts to USD 0m<span class="_ _2"/> (USD 0m). <span class="_ _2"/>Ther<span class="_ _2"/>e was no ineffectiv<span class="_ _2"/>eness in 2023 (no ineffectiveness).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Besides the designa<span class="_ _2"/>ted cash flow hedges in <span class="_ _2"/>the table,<span class="_ _2"/> the Gr<span class="_ _2"/>oup uses derivativ<span class="_ _2"/>es to hedge curr<span class="_ _2"/>ency e<span class="_ _2"/>xposures tha<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">do not qualify<span class="_ _2"/> for<span class="_ _2"/> hedge accounting.<span class="_ _2"/> These deriv<span class="_ _2"/>atives ar<span class="_ _2"/>e classified as fair<span class="_ _2"/> v<span class="_ _2"/>alue thr<span class="_ _2"/>ough profit<span class="_ _2"/> or los<span class="_ _2"/>s. <span class="_ _2"/>The aver<span class="_ _2"/>age<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">FX hedge r<span class="_ _2"/>ates for<span class="_ _2"/> swaps in<span class="_ _2"/> cash flow hedge wer<span class="_ _2"/>e EUR/USD 1.<span class="_ _0"/>18 (1.<span class="_ _0"/>18) and GBP/USD 1.52 (1.52).<span class="_ _2"/> The a<span class="_ _2"/>verag<span class="_ _2"/>e FX hedge </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _2"/>tes for<span class="_ _2"/> swaps in c<span class="_ _2"/>ombined fair<span class="_ _2"/> v<span class="_ _2"/>alue hedge were EUR/USD<span class="_ _2"/> 1.24 (1.2<span class="_ _2"/>4), GBP<span class="_ _2"/>/USD 1.52 (1.52),<span class="_ _2"/> USD/NOK 8<span class="_ _2"/>.25 (8.25) and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD/<span class="_ _0"/>JPY<span class="_ _2"/> 119.39 (119<span class="_ _2"/>.39).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:94.734375px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 556.957px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Derivatives r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ecognised at<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> v<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>alue in the balance sheet<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 185.982px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 557.15px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 346.342px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 556.945px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 362.004px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>137<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>198</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 557.314px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 349.951px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>323<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>495</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.934px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 378.795px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>72<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>77</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 556.764px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Liabilities, net<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 383.467px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>247<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>364</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:282.546875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 192.545px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Hedge of oper<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ating and investment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> cash </span><span style="position: absolute; display: inline-block; left: 254px; top: 0.0136718px; width: 50.4785px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value, <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 339.031px; top: 0.0136718px; width: 50.4785px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value, <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 432.406px; top: 0.0136718px; width: 42.0059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Nominal </span><span style="position: absolute; display: inline-block; left: 519.109px; top: 0.0136718px; width: 39.7383px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">A<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ver<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>age <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 124.312px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">flows in for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>eign currencies</span><span style="position: absolute; display: inline-block; left: 277.219px; top: 12.0137px; width: 24.8965px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">asset</span><span style="position: absolute; display: inline-block; left: 351.719px; top: 12.0137px; width: 34.6758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">liability</span><span style="position: absolute; display: inline-block; left: 422.719px; top: 12.0137px; width: 51.8379px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">amount of <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 506.75px; top: 12.0137px; width: 50.3496px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">hedge r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate</span><span style="position: absolute; display: inline-block; left: 425.922px; top: 24.0137px; width: 46.3711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">derivative</span><span style="position: absolute; display: inline-block; left: 0px; top: 48.9961px; width: 105.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Main currencies hedged</span><span style="position: absolute; display: inline-block; left: 0px; top: 63.5762px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023</span><span style="position: absolute; display: inline-block; left: 0px; top: 78.4668px; width: 556.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">EUR<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 269.865px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.1935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.9511px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,017<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.2304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>EUR/USD 1.10</span><span style="position: absolute; display: inline-block; left: 0px; top: 93.3574px; width: 556.992px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">DKK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.141px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.1935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>286<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.2304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD/DKK 6.76</span><span style="position: absolute; display: inline-block; left: 0px; top: 107.498px; width: 557.385px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">CNY<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.141px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>249<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 17.6777px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD/<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>CNY 7.04</span><span style="position: absolute; display: inline-block; left: 0px; top: 123.139px; width: 557.098px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">HKD<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 277.143px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.5545px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>193<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 15.1641px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD/HKD 7.78</span><span style="position: absolute; display: inline-block; left: 0px; top: 138.029px; width: 556.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> currencies<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 211.699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>33<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.1935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.9511px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,119<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0.3885px; letter-spacing: -0.3885px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">N<span style="word-spacing: 0.3885px; letter-spacing: -0.3885px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>/A</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 152.92px; width: 386.801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 261.732px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>55<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>12</span><span style="position: absolute; display: inline-block; left: 0px; top: 182.717px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 197.592px; width: 557.139px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">EUR<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 269.865px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>24<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.1935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>749<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.2304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>EUR/USD 1.05</span><span style="position: absolute; display: inline-block; left: 0px; top: 212.482px; width: 557.162px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">DKK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 269.865px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.1935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>312<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.2304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD/DKK 7.08</span><span style="position: absolute; display: inline-block; left: 0px; top: 226.639px; width: 557.227px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">CNY<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.141px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>82<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 17.0567px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD/CNY<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> 7.01</span><span style="position: absolute; display: inline-block; left: 0px; top: 242.279px; width: 557.098px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">HKD<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 275.022px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.5545px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>210<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 15.1641px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD/HKD 7.81</span><span style="position: absolute; display: inline-block; left: 0px; top: 257.17px; width: 556.875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> currencies<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 211.699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>32<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>974<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0.3885px; letter-spacing: -0.3885px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">N<span style="word-spacing: 0.3885px; letter-spacing: -0.3885px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>/A</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 272.061px; width: 386.801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 261.732px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>74<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>23</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:74.734375px;"><span style="position: absolute; display: inline-block; left: 466.672px; top: 0.0136718px; width: 44.4668px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> hedges reco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value thr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ough profit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> and loss<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.303px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 556.775px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Currency<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> derivatives<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 372.685px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>43<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>86</span><span style="position: absolute; display: inline-block; left: 0px; top: 64.248px; width: 556.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 440.284px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>43<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>86</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _2"/>s sensitivity <span class="_ _2"/>to an incr<span class="_ _2"/>ease in the USD<span class="_ _2"/> exchange r<span class="_ _2"/>ate of 10% against<span class="_ _2"/> all other<span class="_ _2"/> significant curr<span class="_ _2"/>encies t<span class="_ _2"/>o which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the Group is exposed is estimat<span class="_ _2"/>ed to ha<span class="_ _2"/>ve the fol<span class="_ _2"/>lowing impact.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The sensitivities are based onl<span class="_ _2"/>y on <span class="_ _2"/>the impact of financial instruments <span class="_ _2"/>that ar<span class="_ _2"/>e outstanding at <span class="_ _2"/>the balance sheet dat<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and are <span class="_ _2"/>thus not an expr<span class="_ _2"/>ession of <span class="_ _2"/>the Group’<span class="_ _2"/>s t<span class="_ _2"/>otal currency risk.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:119.375px;"><span style="position: absolute; display: inline-block; left: 297.156px; top: 0.0136718px; width: 231.996px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Profit<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> before tax<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 74.0509px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Equity befor<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e tax</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.77px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Currency<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sensitivity for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> financial instruments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 91.4707px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 19.2344px; top: 49.2109px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 19.377px; top: 49.3574px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 19.377px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">EUR</span><span style="position: absolute; display: inline-block; left: 314.641px; top: 49.3418px; width: 242.508px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">41<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>167<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-50<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>99</span><span style="position: absolute; display: inline-block; left: 0px; top: 64.2324px; width: 556.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">CNY<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 295.342px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>31<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>34<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>27</span><span style="position: absolute; display: inline-block; left: 0px; top: 79.123px; width: 557.262px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">DKK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 301.57px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-221<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-17<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-249</span><span style="position: absolute; display: inline-block; left: 0px; top: 94.0137px; width: 556.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 283.541px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-45<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-133<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-145<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-224</span><span style="position: absolute; display: inline-block; left: 0px; top: 108.889px; width: 556.898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 289.635px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>36<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> -153 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-204<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> -347</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>EUR sensitivity has been r<span class="_ _2"/>estated for<span class="_ _2"/> 2022 from USD<span class="_ _2"/> 30m/USD -38m t<span class="_ _2"/>o USD 167m/USD<span class="_ _2"/> 99m for<span class="_ _2"/> profit<span class="_ _2"/> before <span class="_ _2"/>tax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and equity befor<span class="_ _2"/>e tax,<span class="_ _2"/> respectivel<span class="_ _2"/>y<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:654.96875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 81.0762px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Interest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> rat<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>e risk</span><span style="position: absolute; display: inline-block; left: 301.75px; top: 24.6855px; width: 40.9746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Maturity</span><span style="position: absolute; display: inline-block; left: 97.6875px; top: 49.373px; width: 19.3828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 152.875px; top: 49.373px; width: 19.3828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 185.922px; top: 49.373px; width: 42.0059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Nominal </span><span style="position: absolute; display: inline-block; left: 241.109px; top: 49.373px; width: 207.914px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">0-1 year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 10.1953px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2-5 years<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.6817px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5- years<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 11.5196px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gain/loss <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span></span><span style="position: absolute; display: inline-block; left: 456.969px; top: 49.373px; width: 46.2715px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gain/loss <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 519.109px; top: 49.3887px; width: 39.7383px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">A<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ver<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>age <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 86.4062px; top: 61.373px; width: 30.8789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">value, <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 141.812px; top: 61.373px; width: 30.8789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">value, <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 188.594px; top: 61.373px; width: 39.4512px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">amount </span><span style="position: absolute; display: inline-block; left: 434.797px; top: 61.373px; width: 14.3555px; white-space: pre; word-spacing: 0.0735px; letter-spacing: -0.0735px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">on </span><span style="position: absolute; display: inline-block; left: 489.859px; top: 61.373px; width: 14.0801px; white-space: pre; word-spacing: 0.0735px; letter-spacing: -0.0735px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">on <span style="word-spacing: 0.0735px; letter-spacing: -0.0735px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 527.25px; top: 61.3887px; width: 31.207px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">hedge <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 73.373px; width: 60.6914px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate </span><span style="position: absolute; display: inline-block; left: 90.6562px; top: 73.373px; width: 24.8965px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">asset</span><span style="position: absolute; display: inline-block; left: 136.062px; top: 73.373px; width: 34.6758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">liability</span><span style="position: absolute; display: inline-block; left: 215.281px; top: 73.373px; width: 12.3457px; white-space: pre; word-spacing: 0.021px; letter-spacing: -0.021px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">of <span style="word-spacing: 0.021px; letter-spacing: -0.021px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 410.969px; top: 73.373px; width: 37.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">hedged </span><span style="position: absolute; display: inline-block; left: 463.266px; top: 73.373px; width: 40.3008px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">hedging </span><span style="position: absolute; display: inline-block; left: 537.516px; top: 73.3887px; width: 18.416px; white-space: pre; word-spacing: 0.3255px; letter-spacing: -0.3255px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">rat<span style="word-spacing: 0.3255px; letter-spacing: -0.3255px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e</span><span style="position: absolute; display: inline-block; left: 0px; top: 85.373px; width: 52.9629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">hedging of </span><span style="position: absolute; display: inline-block; left: 179.828px; top: 85.373px; width: 46.3711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">derivative</span><span style="position: absolute; display: inline-block; left: 424.391px; top: 85.373px; width: 21.498px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">item</span><span style="position: absolute; display: inline-block; left: 469.422px; top: 85.373px; width: 31.9336px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">instru-</span><span style="position: absolute; display: inline-block; left: 0px; top: 97.373px; width: 53.209px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">borrowings</span><span style="position: absolute; display: inline-block; left: 476.516px; top: 97.373px; width: 24.9727px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">ment</span><span style="position: absolute; display: inline-block; left: 0px; top: 123.215px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">2023</span><span style="position: absolute; display: inline-block; left: 0px; top: 137.262px; width: 92.959px; white-space: pre; word-spacing: -0.4305px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Combined fair<span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value <span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 149.262px; width: 74.8594px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">hedge, hedge of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 161.262px; width: 49.8164px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">borrowings</span><span style="position: absolute; display: inline-block; left: 0px; top: 174.982px; width: 556.641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">EUR<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>90<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>503<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>415<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>88<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7949px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-32<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7.3%</span><span style="position: absolute; display: inline-block; left: 0px; top: 189.029px; width: 556.758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">GBP<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>24<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>89<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>89<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 49.4648px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.8848px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7.9%</span><span style="position: absolute; display: inline-block; left: 0px; top: 203.061px; width: 556.816px; white-space: pre; word-spacing: 0.1365px; letter-spacing: -0.1365px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">JPY<span style="word-spacing: 0.1365px; letter-spacing: -0.1365px; display: inline-block; margin-left: 0px; width: 93.7852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>88<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>88<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.8848px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7.2%</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 217.107px; width: 556.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">NOK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.2108px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>68<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>216<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>216<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.5998px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-18<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7.9%</span><span style="position: absolute; display: inline-block; left: 0px; top: 240.59px; width: 79.793px; white-space: pre; word-spacing: -0.4305px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value hedge, <span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 252.59px; width: 90.0938px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">hedge of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> borrowings</span><span style="position: absolute; display: inline-block; left: 0px; top: 266.311px; width: 556.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">USD<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 82.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>44<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>850<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>200<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>650<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>32<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-33<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7.7%</span><span style="position: absolute; display: inline-block; left: 0px; top: 289.793px; width: 79.9805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Cash flow hedge, </span><span style="position: absolute; display: inline-block; left: 0px; top: 301.793px; width: 90.0938px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">hedge of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> borrowings</span><span style="position: absolute; display: inline-block; left: 0px; top: 315.529px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">EUR<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>88<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>967<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>414<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>553<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-29<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3.2%</span><span style="position: absolute; display: inline-block; left: 0px; top: 329.561px; width: 556.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">GBP<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>33<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>162<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>162<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4.6%</span><span style="position: absolute; display: inline-block; left: 0px; top: 343.607px; width: 556.963px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">USD<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 88.7873px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>64<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>30<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>34<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 49.4648px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.8848px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2.6%</span><span style="position: absolute; display: inline-block; left: 0px; top: 358.498px; width: 501.586px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 76.8574px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>364<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.3262px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,939<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.3262px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,614<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.3262px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,325<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7949px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>61<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.6758px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-119</span><span style="position: absolute; display: inline-block; left: 0px; top: 381.98px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 396.012px; width: 92.959px; white-space: pre; word-spacing: -0.4305px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Combined fair<span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value <span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 408.012px; width: 74.8594px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">hedge, hedge of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 420.027px; width: 49.8164px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">borrowings</span><span style="position: absolute; display: inline-block; left: 0px; top: 433.748px; width: 556.764px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">EUR<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>127<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>486<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>401<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7949px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>85<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>35<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.5998px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-54<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6.2%</span><span style="position: absolute; display: inline-block; left: 0px; top: 447.779px; width: 556.846px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">GBP<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>29<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>84<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>84<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-7<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6.8%</span><span style="position: absolute; display: inline-block; left: 0px; top: 461.826px; width: 556.74px; white-space: pre; word-spacing: 0.1365px; letter-spacing: -0.1365px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">JPY<span style="word-spacing: 0.1365px; letter-spacing: -0.1365px; display: inline-block; margin-left: 0px; width: 93.7852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>95<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>95<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7949px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6.1%</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 475.857px; width: 556.799px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">NOK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.2108px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>64<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>223<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>223<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-22<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6.8%</span><span style="position: absolute; display: inline-block; left: 0px; top: 499.34px; width: 79.793px; white-space: pre; word-spacing: -0.4305px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value hedge, <span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 511.355px; width: 90.0938px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">hedge of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> borrowings</span><span style="position: absolute; display: inline-block; left: 0px; top: 525.076px; width: 556.605px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">USD<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>73<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>900<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.2107px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>500<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>400<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>75<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-73<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6.7%</span><span style="position: absolute; display: inline-block; left: 0px; top: 548.559px; width: 79.9805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Cash flow hedge, </span><span style="position: absolute; display: inline-block; left: 0px; top: 560.559px; width: 90.0938px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">hedge of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> borrowings</span><span style="position: absolute; display: inline-block; left: 0px; top: 574.295px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">EUR<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>145<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>934<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.2107px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>400<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>534<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.2107px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-56<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.8848px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3.2%</span><span style="position: absolute; display: inline-block; left: 0px; top: 588.326px; width: 556.869px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">GBP<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>77<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>277<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.2107px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>277<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.2107px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7949px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4.6%</span><span style="position: absolute; display: inline-block; left: 0px; top: 602.373px; width: 556.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">NOK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.2108px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>26<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>26<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.2107px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3.3%</span><span style="position: absolute; display: inline-block; left: 0px; top: 616.404px; width: 556.986px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">SEK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 92.5252px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>61<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>61<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 28.5879px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1.7%</span><span style="position: absolute; display: inline-block; left: 0px; top: 630.451px; width: 556.617px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">USD<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 82.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.2107px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>391<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>150<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>200<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>41<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.2107px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2.7%</span><span style="position: absolute; display: inline-block; left: 0px; top: 644.482px; width: 501.492px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 76.8574px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>543<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.3262px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,477<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>176<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.3262px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,241<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.3262px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,060<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>131<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-208</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group has most<span class="_ _2"/> of its debt denominated in<span class="_ _2"/> USD,<span class="_ _2"/> but part<span class="_ _2"/> of the debt<span class="_ _2"/> (e.g. issued bonds) is in<span class="_ _2"/> other<span class="_ _2"/> currencies such </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as EUR, GBP<span class="_ _a"/>, NOK and JP<span class="_ _2"/>Y<span class="_ _0"/>. <span class="_ _2"/>The Group strives <span class="_ _2"/>to maintain a<span class="_ _2"/> combination of fixed and floating int<span class="_ _2"/>erest r<span class="_ _0"/>ates on its net </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">debt, r<span class="_ _2"/>eflecting expectations and risks.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Inter<span class="_ _2"/>est r<span class="_ _2"/>ate risk is managed within a<span class="_ _2"/> range set<span class="_ _2"/> for<span class="_ _2"/> <span class="_ _2"/>the percentage of gr<span class="_ _2"/>oss debt carrying fix<span class="_ _2"/>ed interest,<span class="_ _2"/> net of hedging.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The level a<span class="_ _2"/>t 31 Decembe<span class="_ _2"/>r is<span class="_ _2"/> 41% (43%) excluding IFRS 16 Leases.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>A g<span class="_ _2"/>eneral incr<span class="_ _2"/>ease in inter<span class="_ _2"/>est r<span class="_ _2"/>ates by<span class="_ _2"/> 1 percen<span class="_ _2"/>tage point is estimat<span class="_ _2"/>ed, al<span class="_ _2"/>l else being equal, <span class="_ _2"/>to affect<span class="_ _2"/> profit<span class="_ _2"/> before <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax and equity<span class="_ _2"/>,<span class="_ _2"/> excluding tax eff<span class="_ _2"/>ect, positiv<span class="_ _2"/>ely by<span class="_ _2"/> appro<span class="_ _2"/>x. USD 134m<span class="_ _2"/> (positively<span class="_ _2"/> by USD 215m) and positiv<span class="_ _2"/>ely by<span class="_ _2"/> appro<span class="_ _2"/>x. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD 113m (positivel<span class="_ _2"/>y by<span class="_ _2"/> USD 199m),<span class="_ _2"/> respectivel<span class="_ _2"/>y<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>This analysis assumes <span class="_ _2"/>that al<span class="_ _2"/>l other <span class="_ _2"/>variables,<span class="_ _2"/> in particular<span class="_ _2"/> for<span class="_ _2"/>eign curr<span class="_ _2"/>ency r<span class="_ _2"/>ates,<span class="_ _2"/> remain<span class="_ _2"/> constant. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The hedging of the inter<span class="_ _2"/>est r<span class="_ _2"/>ate risk is done b<span class="_ _2"/>y cr<span class="_ _2"/>oss-currency s<span class="_ _2"/>waps and inter<span class="_ _2"/>est r<span class="_ _2"/>ate sw<span class="_ _2"/>aps. <span class="_ _2"/>The hedging is a mix of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _2"/> v<span class="_ _2"/>alue hedging, combined f<span class="_ _2"/>air<span class="_ _2"/> value hedging and cash flo<span class="_ _2"/>w hedging.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Combined fair<span class="_ _2"/> v<span class="_ _2"/>alue hedging is applied when cros<span class="_ _2"/>s-currency s<span class="_ _2"/>waps are ent<span class="_ _2"/>ered int<span class="_ _2"/>o to hedge <span class="_ _2"/>the risk of debt denom-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inated in curr<span class="_ _2"/>encies other<span class="_ _2"/> than USD<span class="_ _2"/>. E<span class="_ _2"/>ach hedge relationship is split<span class="_ _2"/> into a f<span class="_ _2"/>air<span class="_ _2"/> value hedg<span class="_ _2"/>e, <span class="_ _2"/>where <span class="_ _2"/>value changes fr<span class="_ _2"/>om </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market<span class="_ _2"/> ra<span class="_ _2"/>tes are r<span class="_ _2"/>ecognised dir<span class="_ _2"/>ectly in pr<span class="_ _2"/>ofit or<span class="_ _0"/> loss, and a cash flow hedg<span class="_ _2"/>e, <span class="_ _2"/>where <span class="_ _2"/>the value chang<span class="_ _2"/>es from <span class="_ _2"/>the exchange </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _2"/>te exposure of <span class="_ _2"/>the credit<span class="_ _2"/> margin ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised in other<span class="_ _2"/> comprehensive income<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Ineffectiveness fr<span class="_ _2"/>om cash flow hedges due <span class="_ _2"/>to buy<span class="_ _2"/>-back of issued bonds is reco<span class="_ _2"/>gnised in the income sta<span class="_ _2"/>tement <span class="_ _2"/>with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a cost of USD 1m<span class="_ _2"/> (USD 0m). </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The hedges are e<span class="_ _2"/>xpected to be highl<span class="_ _2"/>y effectiv<span class="_ _2"/>e due to <span class="_ _2"/>the nature of <span class="_ _2"/>the economic relationship betw<span class="_ _2"/>een the exposur<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the hedge<span class="_ _2"/>. <span class="_ _2"/>The source of ineff<span class="_ _2"/>ectiveness is the cr<span class="_ _2"/>edit risk of <span class="_ _2"/>the hedging instruments.<span class="_ _2"/> For<span class="_ _2"/> hedges wher<span class="_ _2"/>e the cost o<span class="_ _2"/>f </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">hedging is applied, <span class="_ _2"/>the change in basis spr<span class="_ _2"/>ead is recognised in<span class="_ _2"/> other compr<span class="_ _2"/>ehensive income and is a <span class="_ _2"/>time effect<span class="_ _2"/> during </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the lifetime of the s<span class="_ _2"/>wap and at ma<span class="_ _2"/>turity amounts <span class="_ _2"/>to 0.<span class="_ _2"/> If the hedg<span class="_ _2"/>ed tr<span class="_ _2"/>ansaction is prepaid,<span class="_ _2"/> the chang<span class="_ _2"/>e in basis spread </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">will be rec<span class="_ _2"/>ognised in pro<span class="_ _2"/>fit or<span class="_ _2"/> loss as ineffectiveness<span class="_ _2"/>. <span class="_ _2"/>The cost o<span class="_ _2"/>f hedging reserve amounts <span class="_ _2"/>to a gain of USD<span class="_ _2"/> 7m<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(gain o<span class="_ _1"/>f USD 15m).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:334.875px;"><span style="position: absolute; display: inline-block; left: 288.25px; top: 0.0136718px; width: 41.5605px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Carrying <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 395.688px; top: 0.0136718px; width: 110.93px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Next int<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> rat<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e fixing</span><span style="position: absolute; display: inline-block; left: 289.812px; top: 12.0137px; width: 36.8906px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">amount</span><span style="position: absolute; display: inline-block; left: 0px; top: 19.6855px; width: 224.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Borrowings and lease liabilities b<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>y inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate </span><span style="position: absolute; display: inline-block; left: 0px; top: 31.6855px; width: 557.104px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">levels inclusive of int<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> rat<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e swaps<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 189.428px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">0-1 year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1-5 years<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.4607px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5- years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 56.668px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">2023</span><span style="position: absolute; display: inline-block; left: 0px; top: 71.248px; width: 556.857px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">0-3%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 283.043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>981<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>252<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>123<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>606</span><span style="position: absolute; display: inline-block; left: 0px; top: 86.1387px; width: 556.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">3-6%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 273.363px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9,952<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,390<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,830<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,732</span><span style="position: absolute; display: inline-block; left: 0px; top: 101.029px; width: 556.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">6%-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,881<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,709<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>605<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>567</span><span style="position: absolute; display: inline-block; left: 0px; top: 115.92px; width: 557.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 267.492px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>14,814<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,351<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,558<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,905</span><span style="position: absolute; display: inline-block; left: 0px; top: 146.012px; width: 40.6699px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Of<span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> which:</span><span style="position: absolute; display: inline-block; left: 0px; top: 160.592px; width: 327.41px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bearing fixed inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,377</span><span style="position: absolute; display: inline-block; left: 0px; top: 175.482px; width: 327.41px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bearing floating inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 183.556px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,437</span><span style="position: absolute; display: inline-block; left: 0px; top: 205.574px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 220.154px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">0-3%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 273.363px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,095<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>202<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>120<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>773</span><span style="position: absolute; display: inline-block; left: 0px; top: 235.045px; width: 556.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">3-6%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.853px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,117<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,607<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,214<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,296</span><span style="position: absolute; display: inline-block; left: 0px; top: 249.936px; width: 556.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">6%-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,431<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,918<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>231<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>282</span><span style="position: absolute; display: inline-block; left: 0px; top: 264.826px; width: 556.805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.853px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>15,643<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,727<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,565<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,351</span><span style="position: absolute; display: inline-block; left: 0px; top: 294.918px; width: 40.6699px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Of<span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> which:</span><span style="position: absolute; display: inline-block; left: 0px; top: 309.498px; width: 327.41px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bearing fixed inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13,400</span><span style="position: absolute; display: inline-block; left: 0px; top: 324.389px; width: 327.41px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bearing floating inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 183.556px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,243</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:376.5625px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 60px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Oil price risk</span><span style="position: absolute; display: inline-block; left: 387.266px; top: 24.6855px; width: 40.9746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Maturity</span><span style="position: absolute; display: inline-block; left: 130.547px; top: 49.3574px; width: 46.1367px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Quantity, <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 186.031px; top: 49.3574px; width: 67.5117px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">A<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ver<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>age trade </span><span style="position: absolute; display: inline-block; left: 289.812px; top: 49.3574px; width: 39.7383px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">A<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ver<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>age <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 359.719px; top: 49.3574px; width: 197.385px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 20.7422px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">0-3 months<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 13.7696px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4-12 months</span></span><span style="position: absolute; display: inline-block; left: 141.312px; top: 61.3574px; width: 34.5762px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">million <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 210.562px; top: 61.3574px; width: 43.1895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">price per<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 287.594px; top: 61.3574px; width: 39.7969px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">dura<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tion</span><span style="position: absolute; display: inline-block; left: 109.625px; top: 73.373px; width: 65.4375px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">metric tonnes</span><span style="position: absolute; display: inline-block; left: 189.875px; top: 73.373px; width: 60.6211px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">metric tonne</span><span style="position: absolute; display: inline-block; left: 0px; top: 98.3555px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">2023</span><span style="position: absolute; display: inline-block; left: 0px; top: 112.936px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Oil swaps<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 118.272px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 112.576px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">0-1 year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span></span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>8</span><span style="position: absolute; display: inline-block; left: 0px; top: 127.826px; width: 556.963px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Buy<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 143.625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>480<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.797px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-231<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-204<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-27</span><span style="position: absolute; display: inline-block; left: 0px; top: 142.701px; width: 556.77px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Sell<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.033px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>519<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.213px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>241<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>206<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>35</span><span style="position: absolute; display: inline-block; left: 0px; top: 172.498px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Oil futures<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 111.709px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 112.576px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">0-1 year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span></span>8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>7<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1</span><span style="position: absolute; display: inline-block; left: 0px; top: 187.389px; width: 556.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Buy<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 152.414px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>633<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.279px; width: 557.027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Sell<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.185px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>639<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.619px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1</span><span style="position: absolute; display: inline-block; left: 0px; top: 217.17px; width: 557.057px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 136.477px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.58px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>18<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>9</span><span style="position: absolute; display: inline-block; left: 0px; top: 247.262px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 261.842px; width: 556.945px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Oil swaps<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 118.272px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 112.576px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">0-1 year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span></span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>20<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5</span><span style="position: absolute; display: inline-block; left: 0px; top: 276.732px; width: 556.945px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Buy<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 143.625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>517<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.797px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-132<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-135<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3</span><span style="position: absolute; display: inline-block; left: 0px; top: 291.623px; width: 556.734px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Sell<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.033px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>512<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.213px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>157<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>155<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2</span><span style="position: absolute; display: inline-block; left: 0px; top: 321.404px; width: 556.74px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Oil futures<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 118.272px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 112.576px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">0-1 year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span></span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-</span><span style="position: absolute; display: inline-block; left: 0px; top: 336.295px; width: 557.051px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Buy<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>739<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1</span><span style="position: absolute; display: inline-block; left: 0px; top: 351.186px; width: 556.963px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Sell<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.185px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>749<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.619px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1</span><span style="position: absolute; display: inline-block; left: 0px; top: 366.076px; width: 556.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 136.477px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.58px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>30<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The majority of <span class="_ _2"/>the Group’<span class="_ _2"/>s tr<span class="_ _2"/>ading of commodity<span class="_ _2"/> products is r<span class="_ _2"/>elated t<span class="_ _2"/>o inventory<span class="_ _2"/> stocks of crude oil and bunk<span class="_ _2"/>er<span class="_ _2"/> oil, as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the products ar<span class="_ _2"/>e bought in lar<span class="_ _2"/>ger<span class="_ _2"/> quantities and stor<span class="_ _2"/>ed for<span class="_ _2"/> processing and r<span class="_ _2"/>e-sale.<span class="_ _2"/> The oil price risk arising fr<span class="_ _2"/>om <span class="_ _2"/>these oil </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">price exposures is mitig<span class="_ _2"/>ated by<span class="_ _2"/> entering into commodity<span class="_ _2"/> derivative agr<span class="_ _2"/>eements.<span class="_ _2"/> <span class="_ _2"/>The over<span class="_ _2"/>all exposur<span class="_ _2"/>e limit is set in<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Group’<span class="_ _2"/>s risk policy<span class="_ _0"/>, defining a maximum net<span class="_ _2"/> open position for<span class="_ _2"/> the Gr<span class="_ _2"/>oup.<span class="_ _2"/> On 31 December<span class="_ _2"/> 2023<span class="_ _2"/>, <span class="_ _2"/>the Group enter<span class="_ _2"/>ed into </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">oil derivative positions as sho<span class="_ _2"/>wn in the <span class="_ _2"/>table.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _2"/>s sensitivity <span class="_ _2"/>to an incr<span class="_ _2"/>ease in the oil price of 5% is estima<span class="_ _2"/>ted, al<span class="_ _2"/>l else being equal, <span class="_ _2"/>to affect<span class="_ _2"/> profit<span class="_ _2"/> and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">equity befor<span class="_ _2"/>e tax ne<span class="_ _2"/>gatively<span class="_ _2"/> by<span class="_ _2"/> approx.<span class="_ _2"/> USD 2<span class="_ _2"/>4m (negativel<span class="_ _2"/>y by<span class="_ _2"/> USD 21m),<span class="_ _2"/> and negativel<span class="_ _2"/>y by<span class="_ _2"/> USD 2<span class="_ _2"/>4m (negativel<span class="_ _2"/>y<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD 21m), respectivel<span class="_ _2"/>y<span class="_ _2"/>.<span class="_ _2"/> The sensitivities ar<span class="_ _2"/>e based on the impact<span class="_ _2"/> of financial instruments tha<span class="_ _2"/>t are outstanding a<span class="_ _2"/>t the<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">balance sheet dat<span class="_ _2"/>e.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:149.1875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 50.0566px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Credit risk</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 557.051px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Maturity anal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ysis of tr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ade receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.018px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Receivables not<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> due<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 357.709px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,587<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,220</span><span style="position: absolute; display: inline-block; left: 0px; top: 64.248px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Less than 90 da<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ys over<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>due<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 326.906px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,140<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,660</span><span style="position: absolute; display: inline-block; left: 0px; top: 79.1387px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">91 – 365 days over<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>due<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 353.215px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>253<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>264</span><span style="position: absolute; display: inline-block; left: 0px; top: 94.0293px; width: 556.916px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">More than 1 year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> overdue<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 340.565px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">127<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>92</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 108.92px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Receivables, gr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>oss<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 365.162px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,107<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,236</span><span style="position: absolute; display: inline-block; left: 0px; top: 123.811px; width: 556.986px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Provision<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> bad debt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 357.709px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>226<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>265</span><span style="position: absolute; display: inline-block; left: 0px; top: 138.701px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Carrying amount<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 370.365px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,881<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6,971</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The loss allowanc<span class="_ _2"/>e provision f<span class="_ _2"/>or <span class="_ _2"/>tr<span class="_ _2"/>ade receiv<span class="_ _2"/>ables as at 31 December<span class="_ _2"/> 2023 r<span class="_ _2"/>econciles to <span class="_ _2"/>the opening loss allowance </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as follows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:154.296875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 557.092px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Change in pr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ovision for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> bad debt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 302.935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.7012px; width: 556.734px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 415.072px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">265<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>205</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5918px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Provision<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> made<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 389.396px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>258<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>331</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Amount used<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 404.636px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>88<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>105</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Amount r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>eversed<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 380.197px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>210<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>165</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 556.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Acquired in business c<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ombinations<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 312.117px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13</span><span style="position: absolute; display: inline-block; left: 0px; top: 98.3887px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposal on the sale of businesses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 314.127px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-</span><span style="position: absolute; display: inline-block; left: 0px; top: 114.045px; width: 556.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 329.889px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13</span><span style="position: absolute; display: inline-block; left: 0px; top: 128.936px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments and others<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 295.342px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1</span><span style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 397.305px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>226<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>265</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _2"/>rade receivables</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group has exposur<span class="_ _2"/>e to financial and c<span class="_ _2"/>ommercial counterparties but<span class="_ _2"/> has no particular<span class="_ _2"/> concentr<span class="_ _2"/>ation of customers or<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">suppliers.<span class="_ _2"/> T<span class="_ _0"/>o minimise the cr<span class="_ _2"/>edit risk,<span class="_ _2"/> financial v<span class="_ _2"/>etting is undertaken f<span class="_ _2"/>or al<span class="_ _2"/>l major<span class="_ _2"/> customers and financial institutions,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">adequate security<span class="_ _2"/> is required f<span class="_ _2"/>or<span class="_ _2"/> commercial count<span class="_ _2"/>erparties, and cr<span class="_ _2"/>edit limits ar<span class="_ _2"/>e set f<span class="_ _2"/>or financial institutions and k<span class="_ _2"/>ey<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">commercial count<span class="_ _2"/>erparties.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group applies <span class="_ _2"/>the simplified approach <span class="_ _2"/>to pro<span class="_ _2"/>viding the expected cr<span class="_ _2"/>edit losses pr<span class="_ _2"/>escribed by IFRS 9<span class="_ _2"/>,<span class="_ _2"/> which permits </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the use of the lifetime e<span class="_ _2"/>xpected loss pro<span class="_ _2"/>vision for<span class="_ _2"/> all <span class="_ _2"/>trade r<span class="_ _2"/>eceivables.<span class="_ _2"/> <span class="_ _2"/>T<span class="_ _0"/>o measure the e<span class="_ _2"/>xpected credit<span class="_ _2"/> losses,<span class="_ _2"/> tr<span class="_ _2"/>ade <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">receivables hav<span class="_ _2"/>e been grouped based on shar<span class="_ _2"/>ed credit<span class="_ _2"/> risk charact<span class="_ _2"/>eristics and the days past<span class="_ _2"/> due.<span class="_ _2"/> In accor<span class="_ _2"/>dance with IFRS 9<span class="_ _2"/>, <span class="_ _0"/><span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">non-due tr<span class="_ _2"/>ade receiv<span class="_ _2"/>ables have also been consider<span class="_ _2"/>ed for<span class="_ _2"/> impairment.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Approximat<span class="_ _2"/>ely 50% (31%) o<span class="_ _2"/>f the pro<span class="_ _2"/>vision for<span class="_ _2"/> bad debt is r<span class="_ _2"/>elated <span class="_ _2"/>to tr<span class="_ _2"/>ade rec<span class="_ _2"/>eivables over<span class="_ _2"/>due by mor<span class="_ _2"/>e than one <span class="_ _2"/>year<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _2"/> financial assets at amortised cost</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _2"/> financial assets at amortised cost<span class="_ _2"/> comprise loans receiv<span class="_ _2"/>able,<span class="_ _2"/> finance lease receiv<span class="_ _2"/>ables and other r<span class="_ _2"/>eceivables<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">These financial assets are consider<span class="_ _2"/>ed to ha<span class="_ _2"/>ve low credit<span class="_ _2"/> risk,<span class="_ _2"/> and thus the impairmen<span class="_ _2"/>t pro<span class="_ _2"/>vision calculated based <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on 12 months of expected losses is c<span class="_ _2"/>onsidered immaterial.<span class="_ _2"/> <span class="_ _2"/>The financial assets are consider<span class="_ _2"/>ed to be lo<span class="_ _2"/>w-risk when<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">they ha<span class="_ _2"/>ve a low risk of defaul<span class="_ _2"/>t, and <span class="_ _2"/>the issuer<span class="_ _2"/> has a strong capacity<span class="_ _2"/> to meet<span class="_ _2"/> its contr<span class="_ _2"/>actual cash flow obligations<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the near t<span class="_ _2"/>erm.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial institutions</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deposits and bank balances are primaril<span class="_ _2"/>y held in r<span class="_ _2"/>elationship banks with a cr<span class="_ _2"/>edit r<span class="_ _2"/>ating of at<span class="_ _2"/> least <span class="_ _2"/>A-.<span class="_ _2"/> No individual </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">exposure is above 10%. <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _0"/> - Maersk has ISDA agreements f<span class="_ _2"/>or<span class="_ _2"/> tr<span class="_ _2"/>ading of derivatives<span class="_ _2"/>, under<span class="_ _0"/> which the Group has </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a right<span class="_ _2"/> to net<span class="_ _2"/> settlement in<span class="_ _2"/> the even<span class="_ _2"/>t of certain cr<span class="_ _2"/>edit even<span class="_ _2"/>ts.<span class="_ _2"/> This r<span class="_ _2"/>esults in <span class="_ _2"/>the credit<span class="_ _2"/> risk being limited to <span class="_ _2"/>the net </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">posi<span class="_ _1"/>tion<span class="_ _1"/> per coun<span class="_ _2"/>terparty<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:178.984375px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 63.0996px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Liquidity risk</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 557.104px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Net int<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-bearing debt and liquidity<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> reserve<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 237.551px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 49.373px; width: 556.77px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Borrowings<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 391.091px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14,814<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15,643</span><span style="position: absolute; display: inline-block; left: 0px; top: 64.2637px; width: 557.086px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Net int<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-bearing debt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 327.451px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-4,658<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.7676px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-12,632</span><span style="position: absolute; display: inline-block; left: 0px; top: 94.0449px; width: 556.898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cash and bank balances<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 339.609px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,701<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10,057</span><span style="position: absolute; display: inline-block; left: 0px; top: 108.936px; width: 556.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Restricted cash<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 374.543px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1,024<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1,358</span><span style="position: absolute; display: inline-block; left: 0px; top: 123.826px; width: 559.6px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erm deposits not included in cash and bank balances<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 192.943px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,693<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.4607px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 17,615 </span><span style="position: absolute; display: inline-block; left: 0px; top: 138.717px; width: 556.641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Securities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 429.938px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>942</span><span style="position: absolute; display: inline-block; left: 0px; top: 153.607px; width: 556.729px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Undra<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>wn rev<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>olving credit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> facilities &gt; 12 months<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 229.793px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,050<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,000</span><span style="position: absolute; display: inline-block; left: 79.8906px; top: 168.367px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 168.498px; width: 80.8594px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Liquidity reserv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>e</span><span style="position: absolute; display: inline-block; left: 445.797px; top: 168.482px; width: 111.967px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">24,420<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>33,256</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Liquidity r<span class="_ _2"/>eserve is defined as undrawn<span class="_ _2"/> committed rev<span class="_ _2"/>olving facilities with mor<span class="_ _2"/>e than one <span class="_ _2"/>year<span class="_ _2"/> to expiry<span class="_ _0"/>, securities, <span class="_ _2"/>term deposits and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash and bank balances,<span class="_ _2"/> excluding securities and balances in countries with<span class="_ _2"/> exchange contr<span class="_ _2"/>ol or other<span class="_ _2"/> r<span class="_ _2"/>estrictions.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _2"/> information about<span class="_ _2"/> cash and bank balances in countries with<span class="_ _2"/> exchange contr<span class="_ _2"/>ol or<span class="_ _2"/> other r<span class="_ _2"/>estrictions,<span class="_ _2"/> ref<span class="_ _2"/>er<span class="_ _2"/> to note 5<span class="_ _2"/>.5 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Cash flow specifications<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Based on the liquidity<span class="_ _2"/> reserve<span class="_ _2"/>, loans f<span class="_ _2"/>or <span class="_ _2"/>the financing of specific assets,<span class="_ _2"/> the maturity<span class="_ _2"/> of outstanding loans,<span class="_ _2"/> and the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">current<span class="_ _2"/> investment<span class="_ _2"/> profile,<span class="_ _2"/> <span class="_ _2"/>the Group’<span class="_ _2"/>s financial resour<span class="_ _2"/>ces are deemed sa<span class="_ _2"/>tisfactory<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The aver<span class="_ _2"/>age t<span class="_ _2"/>erm to ma<span class="_ _2"/>turity of loan facilities in<span class="_ _2"/> the Gr<span class="_ _2"/>oup was about fiv<span class="_ _2"/>e years (about<span class="_ _2"/> five y<span class="_ _2"/>ears) at 31 December<span class="_ _2"/> 2023<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:449.21875px;"><span style="position: absolute; display: inline-block; left: 211.75px; top: 0.0136718px; width: 41.8359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Carrying </span><span style="position: absolute; display: inline-block; left: 345.578px; top: 0.0136718px; width: 135.205px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cash flows including int<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erest</span><span style="position: absolute; display: inline-block; left: 0px; top: 14.9043px; width: 111.135px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Maturities of liabilities </span><span style="position: absolute; display: inline-block; left: 214.25px; top: 12.0137px; width: 36.8906px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">amount</span><span style="position: absolute; display: inline-block; left: 0px; top: 26.9043px; width: 86.0508px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">and commitments</span><span style="position: absolute; display: inline-block; left: 287.016px; top: 26.9043px; width: 245.174px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">0-1 year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1-5 years<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5- years<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 532.189px; top: 26.9043px; width: 24.1113px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 0px; top: 51.8867px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">2023</span><span style="position: absolute; display: inline-block; left: 0px; top: 66.4668px; width: 556.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bank and other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> credit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> institutions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 74.496px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>973<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>259<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>676<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>273<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,208</span><span style="position: absolute; display: inline-block; left: 0px; top: 81.3574px; width: 556.928px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 143.625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10,448<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,120<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,811<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,292<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13,223</span><span style="position: absolute; display: inline-block; left: 0px; top: 96.248px; width: 556.711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.56641px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>– of which inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 215.32px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>458<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,078<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,239<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,775</span><span style="position: absolute; display: inline-block; left: 0px; top: 111.139px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Issued bonds<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 160.459px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,393<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>115<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,907<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,105<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,127</span><span style="position: absolute; display: inline-block; left: 0px; top: 126.029px; width: 557.25px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ade payables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.266px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,401<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,401<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,401</span><span style="position: absolute; display: inline-block; left: 0px; top: 140.92px; width: 556.986px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> payables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.266px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,516<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,479<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>24<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,516</span><span style="position: absolute; display: inline-block; left: 0px; top: 155.811px; width: 556.863px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Non-derivativ<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>e financial liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>22,731<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>11,374<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>8,418<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6,683<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>26,475</span><span style="position: absolute; display: inline-block; left: 0px; top: 170.701px; width: 556.957px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Derivatives<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 179.145px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>395<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>72<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>241<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>82<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>395</span><span style="position: absolute; display: inline-block; left: 0px; top: 185.592px; width: 556.805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal recognised in balance sheet<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>23,126<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>11,446<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>8,659<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6,765<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>26,870</span><span style="position: absolute; display: inline-block; left: 0px; top: 215.373px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Capital commitments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 196.951px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,955<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,228<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>683<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,866</span><span style="position: absolute; display: inline-block; left: 0px; top: 230.264px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.853px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>13,401<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>10,887<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>7,448<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>31,736</span><span style="position: absolute; display: inline-block; left: 0px; top: 260.355px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 274.936px; width: 556.799px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bank and other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> credit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> institutions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.7989px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,053<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>293<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>493<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>550<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,336</span><span style="position: absolute; display: inline-block; left: 0px; top: 289.826px; width: 556.928px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 143.625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11,614<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,479<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,467<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,239<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14,185</span><span style="position: absolute; display: inline-block; left: 0px; top: 304.717px; width: 556.711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 2.56641px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>– of which inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 215.32px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>448<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,010<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,113<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,571</span><span style="position: absolute; display: inline-block; left: 0px; top: 319.607px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Issued bonds<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 160.459px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,976<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>113<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,141<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,130<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,384</span><span style="position: absolute; display: inline-block; left: 0px; top: 334.498px; width: 557.25px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ade payables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.266px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,804<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,804<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,804</span><span style="position: absolute; display: inline-block; left: 0px; top: 349.389px; width: 556.939px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> payables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.266px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,846<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,696<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>129<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,846</span><span style="position: absolute; display: inline-block; left: 0px; top: 364.279px; width: 556.863px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Non-derivativ<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>e financial liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>24,293<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>12,385<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>9,230<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,940<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>27,555</span><span style="position: absolute; display: inline-block; left: 0px; top: 379.17px; width: 556.869px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Derivatives<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 179.145px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>572<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>77<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>356<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>139<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>572</span><span style="position: absolute; display: inline-block; left: 0px; top: 394.045px; width: 556.805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal recognised in balance sheet<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.131px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>24,865<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>12,462<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>9,586<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6,079<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>28,127</span><span style="position: absolute; display: inline-block; left: 0px; top: 423.842px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Capital commitments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 196.951px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,313<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,007<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>705<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,025</span><span style="position: absolute; display: inline-block; left: 0px; top: 438.732px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.853px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>13,775<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>12,593<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6,784<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>33,152</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">It is of gr<span class="_ _2"/>eat importance f<span class="_ _2"/>or <span class="_ _2"/>the Group <span class="_ _2"/>to maintain a financial r<span class="_ _2"/>eserve <span class="_ _2"/>to cover<span class="_ _2"/> <span class="_ _2"/>the Group’<span class="_ _2"/>s obligations and inv<span class="_ _2"/>estment </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">opportunities and to pr<span class="_ _2"/>ovide the capital nec<span class="_ _2"/>essary t<span class="_ _2"/>o offset changes in <span class="_ _2"/>the Group’<span class="_ _0"/>s liquidity due to changes in <span class="_ _2"/>the cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">flow from oper<span class="_ _2"/>ating activities<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The flexibility of <span class="_ _2"/>the financial reserve is subject<span class="_ _2"/> t<span class="_ _2"/>o ongoing prioritisation and optimisation,<span class="_ _2"/> among other<span class="_ _2"/> things by<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">focusing on <span class="_ _2"/>the release of capital and fol<span class="_ _2"/>lowing up on the de<span class="_ _2"/>velopment in <span class="_ _2"/>working capital.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Derivative financial instruments<span class="ff3"> are reco<span class="_ _2"/>gnised on the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trading da<span class="_ _2"/>te and measured at<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue using gener<span class="_ _2"/>ally<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acknowledged v<span class="_ _2"/>aluation <span class="_ _2"/>techniques based on rele<span class="_ _2"/>vant </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">observable swap curv<span class="_ _2"/>es and exchange r<span class="_ _2"/>ates.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The effective portion of chang<span class="_ _2"/>es in the <span class="_ _2"/>value of deriv<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ative financial instruments designat<span class="_ _2"/>ed to hedge highl<span class="_ _2"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">probable futur<span class="_ _2"/>e tr<span class="_ _2"/>ansactions is reco<span class="_ _2"/>gnised in other<span class="_ _2"/> com-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prehensive income un<span class="_ _2"/>til the hedged <span class="_ _2"/>transactions ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">realised.<span class="_ _2"/> A<span class="_ _2"/>t that<span class="_ _2"/> time, the accumulated gains/losses are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _2"/>erred to the items in which the hedged trans <span class="_ _4"/>actions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _2"/>ecognised.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The effective portion<span class="_ _2"/> of changes in the <span class="_ _2"/>value of de<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rivative financial instrumen<span class="_ _2"/>ts used to hedge <span class="_ _2"/>the v<span class="_ _2"/>alue of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised financial assets and liabilities is recognised in<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _2"/> to<span class="_ _2"/>gether<span class="_ _2"/> with changes in <span class="_ _2"/>the fair<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value of <span class="_ _2"/>the hedged assets or<span class="_ _2"/> liabilities that<span class="_ _2"/> can be attrib<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">uted t<span class="_ _2"/>o the hedging rela<span class="_ _2"/>tionship. Curr<span class="_ _2"/>ency basis spr<span class="_ _2"/>ead </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and forwar<span class="_ _2"/>d points are consider<span class="_ _2"/>ed a cost<span class="_ _2"/> of hedging and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised in other<span class="_ _2"/> comprehensive income and def<span class="_ _2"/>erred </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equity until r<span class="_ _2"/>ealisation.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The ineffective portion of hedg<span class="_ _2"/>e tr<span class="_ _2"/>ansactions and changes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the f<span class="_ _2"/>air <span class="_ _2"/>values of deriv<span class="_ _2"/>ative financial instruments,<span class="_ _2"/> which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">do not qualify<span class="_ _2"/> for<span class="_ _2"/> hedge accounting,<span class="_ _2"/> are r<span class="_ _2"/>ecognised in <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement<span class="_ _2"/> as financial income or<span class="_ _2"/> expenses for<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inter<span class="_ _2"/>est and currency<span class="_ _0"/>-based instruments, and as other<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income/<span class="_ _2"/>costs for<span class="_ _0"/> oil price hedges and forward fr<span class="_ _2"/>eight </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">agreements<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Capital management</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The capital structure is managed f<span class="_ _2"/>or<span class="_ _2"/> the Group in<span class="_ _2"/> accordance with<span class="_ _2"/> the financial policy<span class="_ _0"/>, as approv<span class="_ _2"/>ed by <span class="_ _2"/>the Board of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Directors<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Capital is managed <span class="_ _2"/>to meet <span class="_ _2"/>the objective of a solid capital structur<span class="_ _2"/>e over<span class="_ _2"/> the business cycle and <span class="_ _2"/>to maintain a liquidity<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">profil<span class="_ _1"/>e in <span class="_ _1"/>lin<span class="_ _1"/>e wit<span class="_ _1"/>h an <span class="_ _1"/>inves<span class="_ _1"/>tmen<span class="_ _1"/>t grade c<span class="_ _1"/>redit rating<span class="_ _1"/>. <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk remains in<span class="_ _2"/>vestment gr<span class="_ _2"/>ade-r<span class="_ _2"/>ated and holds a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Baa2 (positive outlook) r<span class="_ _2"/>ating from Moody’<span class="_ _2"/>s and a BBB+ (stable) r<span class="_ _2"/>ating fr<span class="_ _2"/>om Standard &amp; P<span class="_ _2"/>oor’s<span class="_ _2"/>. <span class="_ _2"/>The equity shar<span class="_ _2"/>e of t<span class="_ _2"/>otal </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">equity and liabilities w<span class="_ _2"/>as 67% (69%) at <span class="_ _2"/>the end of 2023.<span class="_ _2"/> Shar<span class="_ _2"/>e buy-backs of maximum<span class="_ _2"/> 15% of the shar<span class="_ _2"/>e capital can be de-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cided by <span class="_ _2"/>the Board of Dir<span class="_ _2"/>ectors,<span class="_ _2"/> and dividends paid out ar<span class="_ _2"/>e to be betw<span class="_ _2"/>een 30-50% of the underl<span class="_ _2"/>ying profit<span class="_ _2"/> in accordance </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with the compan<span class="_ _2"/>y’s dividend policy<span class="_ _0"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:234.703125px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 280.852px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">The basis for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> calculating earnings per<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> share is <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>the follo<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>wing:</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 557.004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">A.P<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>. Møller<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> - Mærsk A/S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>’<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> share of:<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 297.492px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 45.1074px; width: 559.184px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Profit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> the period<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 353.853px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,822<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.4607px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 29,198 </span><span style="position: absolute; display: inline-block; left: 453.797px; top: 95.3262px; width: 102.393px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 119.998px; width: 556.98px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Issued shares 1 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>January<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 310.728px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>18,707,161<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 18.334px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>19,376,016</span><span style="position: absolute; display: inline-block; left: 0px; top: 134.889px; width: 557.109px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">A<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ver<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>age number<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> of tr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>easury shares<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 264.762px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,213,793<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>720,802</span><span style="position: absolute; display: inline-block; left: 0px; top: 149.779px; width: 557.104px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">A<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ver<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>age number<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> of cancelled shares<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 268.852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>648,188<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>404,978</span><span style="position: absolute; display: inline-block; left: 0px; top: 164.654px; width: 556.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">A<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>verag<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>e number of shar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>es (basic)<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 264.117px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>16,845,180<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 17.6777px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>18,250,236</span><span style="position: absolute; display: inline-block; left: 0px; top: 179.545px; width: 556.975px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Dilutive effect<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> of outstanding restricted and perf<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ormance shares and shar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e options <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.8261px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>28,862<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>57,522</span><span style="position: absolute; display: inline-block; left: 0px; top: 194.436px; width: 556.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">A<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>verag<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>e number of shar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>es (diluted)<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 253.16px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>16,874,042<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 18.334px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>18,307,758</span><span style="position: absolute; display: inline-block; left: 0px; top: 209.326px; width: 556.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Basic earnings per<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> share (USD)<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 316.067px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>227<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,600</span><span style="position: absolute; display: inline-block; left: 0px; top: 224.217px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Diluted earnings per<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> share (USD)<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 305.279px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>227<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,595</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Earnings per<span class="_ _2"/> share<span class="ff3"> is calculat<span class="_ _2"/>ed as A.P<span class="_ _4"/>. Møller<span class="_ _0"/> - Mærsk A/S’<span class="_ _0"/> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">share of <span class="_ _2"/>the profit<span class="_ _2"/> for<span class="_ _2"/> the <span class="_ _2"/>year<span class="_ _2"/> divided by <span class="_ _2"/>the aver<span class="_ _2"/>age </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">number<span class="_ _2"/> of shares outstanding (of DKK 1,000 each),<span class="_ _2"/> ex<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cluding A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler - Maersk’<span class="_ _0"/>s holding of treasury shar<span class="_ _2"/>es.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Diluted earnings per<span class="_ _2"/> share ar<span class="_ _2"/>e adjusted for<span class="_ _0"/> the dilutive </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">effect of <span class="_ _2"/>the aver<span class="_ _2"/>age number<span class="_ _2"/> of restricted shar<span class="_ _2"/>es,<span class="_ _2"/> perfor<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mance shares and shar<span class="_ _2"/>e options outstanding as issued by </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the parent<span class="_ _2"/> company<span class="_ _0"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Dividends</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The dividend of DKK 4,300 per<span class="_ _2"/> share of DKK 1,000 was paid on 31 Mar<span class="_ _2"/>ch 2023 – a <span class="_ _2"/>total of DKK 74.4bn<span class="_ _2"/> equivalent<span class="_ _2"/> to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD 10.9bn, excluding tr<span class="_ _2"/>easury shar<span class="_ _2"/>es (dividend of DKK 2,500 per<span class="_ _2"/> share of DKK 1,000 paid – <span class="_ _2"/>total of DKK 46.8bn,<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">equivalent<span class="_ _2"/> to USD<span class="_ _2"/> 6.9bn).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The Board of Dir<span class="_ _2"/>ectors pr<span class="_ _2"/>oposes a dividend to <span class="_ _2"/>the shareholders of DKK 515 per<span class="_ _0"/> share of DKK 1,000 – a <span class="_ _2"/>tota<span class="_ _2"/>l of DKK </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">8.1bn,<span class="_ _2"/> equivalent<span class="_ _2"/> to USD<span class="_ _2"/> 1.2bn (DKK 4,300 per<span class="_ _2"/> share of DKK 1,000 – a total of DKK 74.4bn equivalen<span class="_ _2"/>t t<span class="_ _2"/>o USD 10.9bn)<span class="_ _2"/>.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Payment<span class="_ _2"/> of dividends is expected t<span class="_ _2"/>o tak<span class="_ _2"/>e place on 19 March<span class="_ _2"/> 2024.<span class="_ _2"/> Payment<span class="_ _2"/> of dividends to shar<span class="_ _2"/>eholders does not<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trig<span class="_ _1"/>ger<span class="_ _2"/> taxes <span class="_ _2"/>to <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Equity<span class="ff3 ws0"> includes total compr<span class="_ _2"/>ehensive income for<span class="_ _0"/> the year<span class="_ _0"/> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprising the pr<span class="_ _2"/>ofit for<span class="_ _0"/> the year<span class="_ _2"/> and other<span class="_ _2"/> comprehen<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sive income.<span class="_ _2"/> Proceeds on<span class="_ _2"/> the purchase and sale of <span class="_ _2"/>treasury<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">shares and dividend fr<span class="_ _2"/>om such shares ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equity<span class="_ _2"/>.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The tr<span class="_ _2"/>anslation r<span class="_ _2"/>eserve is comprised of <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">share of accumulat<span class="_ _2"/>ed exchange r<span class="_ _2"/>ate differ<span class="_ _2"/>ences arising </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on tr<span class="_ _2"/>anslation from functional cur<span class="_ _2"/>r<span class="_ _2"/>enc<span class="_ _2"/>y<span class="_ _2"/> in<span class="_ _2"/>to<span class="_ _2"/> pr<span class="_ _0"/>esen<span class="_ _2"/>ta<span class="_ _2"/>ti<span class="_ _2"/>on<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currency<span class="_ _0"/>. <span class="_ _2"/>The reserve for<span class="_ _0"/> other equity in<span class="_ _2"/>vestments is com<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prised of accumulated changes in the fair value o<span class="_ _1"/>f eq<span class="_ _1"/>uit<span class="_ _1"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">investments (at<span class="_ _2"/> FVOCI),<span class="_ _2"/> net of <span class="_ _2"/>tax. R<span class="_ _2"/>eserves for<span class="_ _2"/> hedges </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">includes the <span class="_ _2"/>accumulated f<span class="_ _2"/>air <span class="_ _2"/>value ch<span class="_ _1"/>ange o<span class="_ _1"/>f de<span class="_ _1"/>rivati<span class="_ _1"/>ves </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">qualifying for<span class="_ _2"/> cash flow hedge a<span class="_ _2"/>ccou<span class="_ _2"/>ntin<span class="_ _2"/>g,<span class="_ _2"/> les<span class="_ _2"/>s amo<span class="_ _2"/>unts<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">already<span class="_ _2"/> reclassified <span class="_ _2"/>to the income stat<span class="_ _2"/>ement or<span class="_ _2"/> <span class="_ _2"/>trans<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fer<span class="_ _1"/>red<span class="_ _1"/> a<span class="_ _1"/>s<span class="_ _1"/> b<span class="_ _1"/>as<span class="_ _1"/>is<span class="_ _1"/> a<span class="_ _1"/>d<span class="_ _1"/>ju<span class="_ _1"/>st<span class="_ _1"/>ments,<span class="_ _2"/> net of tax,<span class="_ _2"/> as wel<span class="_ _2"/>l as forwar<span class="_ _2"/>d </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">points and currency<span class="_ _2"/> basi<span class="_ _1"/>s sp<span class="_ _1"/>read.</span> 4300 1000 74400000000 10900000000 2500 1000 46800000000 6900000000 515 1000 8100000000 1200000000 4300 1000 74400000000 10900000000 <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Earnings per<span class="_ _2"/> share<span class="ff3"> is calculat<span class="_ _2"/>ed as A.P<span class="_ _4"/>. Møller<span class="_ _0"/> - Mærsk A/S’<span class="_ _0"/> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">share of <span class="_ _2"/>the profit<span class="_ _2"/> for<span class="_ _2"/> the <span class="_ _2"/>year<span class="_ _2"/> divided by <span class="_ _2"/>the aver<span class="_ _2"/>age </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">number<span class="_ _2"/> of shares outstanding (of DKK 1,000 each),<span class="_ _2"/> ex<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cluding A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler - Maersk’<span class="_ _0"/>s holding of treasury shar<span class="_ _2"/>es.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Diluted earnings per<span class="_ _2"/> share ar<span class="_ _2"/>e adjusted for<span class="_ _0"/> the dilutive </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">effect of <span class="_ _2"/>the aver<span class="_ _2"/>age number<span class="_ _2"/> of restricted shar<span class="_ _2"/>es,<span class="_ _2"/> perfor<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mance shares and shar<span class="_ _2"/>e options outstanding as issued by </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the parent<span class="_ _2"/> company<span class="_ _0"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Equity<span class="ff3 ws0"> includes total compr<span class="_ _2"/>ehensive income for<span class="_ _0"/> the year<span class="_ _0"/> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprising the pr<span class="_ _2"/>ofit for<span class="_ _0"/> the year<span class="_ _2"/> and other<span class="_ _2"/> comprehen<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sive income.<span class="_ _2"/> Proceeds on<span class="_ _2"/> the purchase and sale of <span class="_ _2"/>treasury<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">shares and dividend fr<span class="_ _2"/>om such shares ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equity<span class="_ _2"/>.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The tr<span class="_ _2"/>anslation r<span class="_ _2"/>eserve is comprised of <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">share of accumulat<span class="_ _2"/>ed exchange r<span class="_ _2"/>ate differ<span class="_ _2"/>ences arising </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on tr<span class="_ _2"/>anslation from functional cur<span class="_ _2"/>r<span class="_ _2"/>enc<span class="_ _2"/>y<span class="_ _2"/> in<span class="_ _2"/>to<span class="_ _2"/> pr<span class="_ _0"/>esen<span class="_ _2"/>ta<span class="_ _2"/>ti<span class="_ _2"/>on<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currency<span class="_ _0"/>. <span class="_ _2"/>The reserve for<span class="_ _0"/> other equity in<span class="_ _2"/>vestments is com<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prised of accumulated changes in the fair value o<span class="_ _1"/>f eq<span class="_ _1"/>uit<span class="_ _1"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">investments (at<span class="_ _2"/> FVOCI),<span class="_ _2"/> net of <span class="_ _2"/>tax. R<span class="_ _2"/>eserves for<span class="_ _2"/> hedges </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">includes the <span class="_ _2"/>accumulated f<span class="_ _2"/>air <span class="_ _2"/>value ch<span class="_ _1"/>ange o<span class="_ _1"/>f de<span class="_ _1"/>rivati<span class="_ _1"/>ves </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">qualifying for<span class="_ _2"/> cash flow hedge a<span class="_ _2"/>ccou<span class="_ _2"/>ntin<span class="_ _2"/>g,<span class="_ _2"/> les<span class="_ _2"/>s amo<span class="_ _2"/>unts<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">already<span class="_ _2"/> reclassified <span class="_ _2"/>to the income stat<span class="_ _2"/>ement or<span class="_ _2"/> <span class="_ _2"/>trans<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fer<span class="_ _1"/>red<span class="_ _1"/> a<span class="_ _1"/>s<span class="_ _1"/> b<span class="_ _1"/>as<span class="_ _1"/>is<span class="_ _1"/> a<span class="_ _1"/>d<span class="_ _1"/>ju<span class="_ _1"/>st<span class="_ _1"/>ments,<span class="_ _2"/> net of tax,<span class="_ _2"/> as wel<span class="_ _2"/>l as forwar<span class="_ _2"/>d </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">points and currency<span class="_ _2"/> basi<span class="_ _1"/>s sp<span class="_ _1"/>read.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Equity<span class="ff3 ws0"> includes total compr<span class="_ _2"/>ehensive income for<span class="_ _0"/> the year<span class="_ _0"/> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprising the pr<span class="_ _2"/>ofit for<span class="_ _0"/> the year<span class="_ _2"/> and other<span class="_ _2"/> comprehen<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sive income.<span class="_ _2"/> Proceeds on<span class="_ _2"/> the purchase and sale of <span class="_ _2"/>treasury<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">shares and dividend fr<span class="_ _2"/>om such shares ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equity<span class="_ _2"/>.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The tr<span class="_ _2"/>anslation r<span class="_ _2"/>eserve is comprised of <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">share of accumulat<span class="_ _2"/>ed exchange r<span class="_ _2"/>ate differ<span class="_ _2"/>ences arising </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on tr<span class="_ _2"/>anslation from functional cur<span class="_ _2"/>r<span class="_ _2"/>enc<span class="_ _2"/>y<span class="_ _2"/> in<span class="_ _2"/>to<span class="_ _2"/> pr<span class="_ _0"/>esen<span class="_ _2"/>ta<span class="_ _2"/>ti<span class="_ _2"/>on<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currency<span class="_ _0"/>. <span class="_ _2"/>The reserve for<span class="_ _0"/> other equity in<span class="_ _2"/>vestments is com<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prised of accumulated changes in the fair value o<span class="_ _1"/>f eq<span class="_ _1"/>uit<span class="_ _1"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">investments (at<span class="_ _2"/> FVOCI),<span class="_ _2"/> net of <span class="_ _2"/>tax. R<span class="_ _2"/>eserves for<span class="_ _2"/> hedges </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">includes the <span class="_ _2"/>accumulated f<span class="_ _2"/>air <span class="_ _2"/>value ch<span class="_ _1"/>ange o<span class="_ _1"/>f de<span class="_ _1"/>rivati<span class="_ _1"/>ves </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">qualifying for<span class="_ _2"/> cash flow hedge a<span class="_ _2"/>ccou<span class="_ _2"/>ntin<span class="_ _2"/>g,<span class="_ _2"/> les<span class="_ _2"/>s amo<span class="_ _2"/>unts<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">already<span class="_ _2"/> reclassified <span class="_ _2"/>to the income stat<span class="_ _2"/>ement or<span class="_ _2"/> <span class="_ _2"/>trans<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fer<span class="_ _1"/>red<span class="_ _1"/> a<span class="_ _1"/>s<span class="_ _1"/> b<span class="_ _1"/>as<span class="_ _1"/>is<span class="_ _1"/> a<span class="_ _1"/>d<span class="_ _1"/>ju<span class="_ _1"/>st<span class="_ _1"/>ments,<span class="_ _2"/> net of tax,<span class="_ _2"/> as wel<span class="_ _2"/>l as forwar<span class="_ _2"/>d </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">points and currency<span class="_ _2"/> basi<span class="_ _1"/>s sp<span class="_ _1"/>read.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 4.2 <span class="_"> </span>Borr<span class="_ _2"/>owings and lease liability r<span class="_ _2"/>econciliation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:415.25px;"><span style="position: absolute; display: inline-block; left: 88px; top: 0.0136718px; width: 42.1172px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Net debt <span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 161.844px; top: 0.0136718px; width: 401.613px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cash flows<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 105.586px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Non-cash changes<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 117.082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Net debt <span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span></span><span style="position: absolute; display: inline-block; left: 66.3281px; top: 12.0137px; width: 61.5527px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">31 December</span><span style="position: absolute; display: inline-block; left: 500.219px; top: 12.0137px; width: 61.5527px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">31 December</span><span style="position: absolute; display: inline-block; left: 485.219px; top: 36.5547px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 106.234px; top: 36.6855px; width: 72.7559px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.3594px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">From</span></span><span style="position: absolute; display: inline-block; left: 204.141px; top: 36.6855px; width: 79.6523px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Addi- </span><span style="position: absolute; display: inline-block; left: 292.141px; top: 36.6855px; width: 98.0742px; white-space: pre; word-spacing: -2.562px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Dis posals<span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 4.20705px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, </span></span><span style="position: absolute; display: inline-block; left: 401.859px; top: 36.6855px; width: 37.957px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Foreign <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 458.422px; top: 36.6855px; width: 26.6426px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other</span><span style="position: absolute; display: inline-block; left: 535.594px; top: 36.6855px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023</span><span style="position: absolute; display: inline-block; left: 136.047px; top: 48.6855px; width: 42.4336px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">financing</span><span style="position: absolute; display: inline-block; left: 257.172px; top: 48.6855px; width: 23.4785px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">tions</span><span style="position: absolute; display: inline-block; left: 356.469px; top: 48.6855px; width: 32.2793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">assets </span><span style="position: absolute; display: inline-block; left: 393.062px; top: 48.6855px; width: 47.2441px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">exchange </span><span style="position: absolute; display: inline-block; left: 137.328px; top: 60.6855px; width: 41.0273px; white-space: pre; word-spacing: 0.105px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">activities</span><span style="position: absolute; display: inline-block; left: 349.156px; top: 60.6855px; width: 39.4219px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 407.188px; top: 60.6855px; width: 32.4082px; white-space: pre; word-spacing: 0.084px; letter-spacing: -0.084px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">move-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 368px; top: 72.7012px; width: 18.9141px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">sale</span><span style="position: absolute; display: inline-block; left: 409.125px; top: 72.7012px; width: 29.7891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">ments</span><span style="position: absolute; display: inline-block; left: 0px; top: 97.668px; width: 53.1211px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Borrowings:</span><span style="position: absolute; display: inline-block; left: 0px; top: 112.248px; width: 73.8398px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bank and other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 124.248px; width: 561.117px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">credit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> institutions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,053<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.5469px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-88<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>973</span><span style="position: absolute; display: inline-block; left: 60.9844px; top: 139.023px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 0px; top: 139.139px; width: 61.3242px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Issued bonds</span><span style="position: absolute; display: inline-block; left: 106.234px; top: 139.139px; width: 454.33px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2,976<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>308<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>53<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>56<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,393</span><span style="position: absolute; display: inline-block; left: 179.141px; top: 153.914px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 0px; top: 154.029px; width: 178.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal borrowings<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,029<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>220</span><span style="position: absolute; display: inline-block; left: 218.812px; top: 154.045px; width: 342.598px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.4607px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>61<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>56<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,366</span><span style="position: absolute; display: inline-block; left: 0px; top: 183.826px; width: 60.334px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as </span><span style="position: absolute; display: inline-block; left: 0px; top: 195.826px; width: 561.557px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 49.4648px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,774<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396.757px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,169</span><span style="position: absolute; display: inline-block; left: 0px; top: 210.717px; width: 62.9004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as </span><span style="position: absolute; display: inline-block; left: 0px; top: 222.717px; width: 561.252px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 81.4395px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>255<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 406.226px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>197</span><span style="position: absolute; display: inline-block; left: 0px; top: 252.824px; width: 32.4609px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Leases:</span><span style="position: absolute; display: inline-block; left: 281.203px; top: 267.273px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">4</span><span style="position: absolute; display: inline-block; left: 0px; top: 267.404px; width: 280.365px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.0742px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11,614<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 8.86522px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3,226<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,268</span><span style="position: absolute; display: inline-block; left: 312.125px; top: 267.404px; width: 248.818px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-241<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-56<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.5998px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>84<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10,448</span><span style="position: absolute; display: inline-block; left: 0px; top: 297.186px; width: 60.334px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as </span><span style="position: absolute; display: inline-block; left: 0px; top: 309.186px; width: 561.557px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 49.4648px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8,582<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396.757px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,798</span><span style="position: absolute; display: inline-block; left: 0px; top: 324.076px; width: 62.9004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as </span><span style="position: absolute; display: inline-block; left: 0px; top: 336.076px; width: 561.281px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,032<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,650</span><span style="position: absolute; display: inline-block; left: 0px; top: 350.967px; width: 84.2637px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal borrowings </span><span style="position: absolute; display: inline-block; left: 0px; top: 362.967px; width: 560.906px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">and leases<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>15,643<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 8.86522px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-3,006<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,271<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.6758px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-241<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-56<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.6758px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>145<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>58<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>14,814</span><span style="position: absolute; display: inline-block; left: 0px; top: 392.764px; width: 88.4062px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Derivativ<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>es hedge </span><span style="position: absolute; display: inline-block; left: 0px; top: 404.764px; width: 561.141px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">of borrowings, net<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>532<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.5469px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-46<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-53<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.4961px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-81<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>352</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Other includes f<span class="_ _2"/>air <span class="_ _2"/>value changes and amortisation<span class="_ _2"/> of fees.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Of the t<span class="_ _2"/>otal issued bonds at 31 December<span class="_ _2"/> 2023<span class="_ _2"/>, USD 1.3bn ar<span class="_ _2"/>e green bonds primaril<span class="_ _2"/>y used t<span class="_ _2"/>o finance the construction </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of green methanol <span class="_ _2"/>vessels.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Cash flows from financing activities of USD 220m ar<span class="_ _2"/>e made up of repaymen<span class="_ _2"/>ts of borrowings of neg<span class="_ _2"/>ative USD 660m,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">adjusted for<span class="_ _2"/> cash flows fr<span class="_ _2"/>om hedges of USD 35m and pr<span class="_ _2"/>oceeds from borr<span class="_ _2"/>owings of USD 845m.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _9"> </span>Additions include USD 29m of lease liabilities from<span class="_ _2"/> businesses acquired during 2023<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The maturity anal<span class="_ _2"/>ysis of lease liabilities is disclosed in note 4.5<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:415.25px;"><span style="position: absolute; display: inline-block; left: 88.4375px; top: 0.0136718px; width: 42.1172px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Net debt <span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 157.062px; top: 0.0136718px; width: 406.418px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cash flows<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.268px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Non-cash changes<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.566px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Net debt <span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span></span><span style="position: absolute; display: inline-block; left: 66.3125px; top: 12.0137px; width: 61.5527px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">31 December</span><span style="position: absolute; display: inline-block; left: 500.625px; top: 12.0137px; width: 61.5527px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">31 December</span><span style="position: absolute; display: inline-block; left: 485.219px; top: 36.5547px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 105.453px; top: 36.6855px; width: 72.7559px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2021<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.3594px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">From</span></span><span style="position: absolute; display: inline-block; left: 203.156px; top: 36.6855px; width: 79.6523px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Addi- </span><span style="position: absolute; display: inline-block; left: 291.531px; top: 36.6855px; width: 98.0742px; white-space: pre; word-spacing: -2.562px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Dis posals<span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 4.20705px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, </span></span><span style="position: absolute; display: inline-block; left: 402.844px; top: 36.6855px; width: 37.957px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Foreign <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 458px; top: 36.6855px; width: 26.6426px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other</span><span style="position: absolute; display: inline-block; left: 535.375px; top: 36.6855px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2022</span><span style="position: absolute; display: inline-block; left: 136.062px; top: 48.6855px; width: 42.4336px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">financing</span><span style="position: absolute; display: inline-block; left: 257.672px; top: 48.6855px; width: 23.4785px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">tions</span><span style="position: absolute; display: inline-block; left: 357.219px; top: 48.6855px; width: 32.2793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">assets </span><span style="position: absolute; display: inline-block; left: 393.672px; top: 48.6855px; width: 47.2441px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">exchange </span><span style="position: absolute; display: inline-block; left: 137.453px; top: 60.6855px; width: 41.0273px; white-space: pre; word-spacing: 0.105px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">activities</span><span style="position: absolute; display: inline-block; left: 349.484px; top: 60.6855px; width: 39.4219px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 407.031px; top: 60.6855px; width: 32.4082px; white-space: pre; word-spacing: 0.084px; letter-spacing: -0.084px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">move-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 367.875px; top: 72.7012px; width: 18.9141px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">sale</span><span style="position: absolute; display: inline-block; left: 408.203px; top: 72.7012px; width: 29.7891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">ments</span><span style="position: absolute; display: inline-block; left: 0px; top: 97.668px; width: 53.1211px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Borrowings:</span><span style="position: absolute; display: inline-block; left: 0px; top: 112.248px; width: 73.8398px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bank and other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 124.248px; width: 561.387px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">credit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> institutions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 19.4824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,443<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-717<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-282<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.6758px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>612<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,053</span><span style="position: absolute; display: inline-block; left: 60.8125px; top: 139.023px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 0px; top: 139.139px; width: 61.3242px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Issued bonds</span><span style="position: absolute; display: inline-block; left: 103.531px; top: 139.139px; width: 458.52px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">3,341<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-177<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-188<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,976</span><span style="position: absolute; display: inline-block; left: 179.828px; top: 153.914px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 205.922px; top: 154.045px; width: 23.6895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">-282</span><span style="position: absolute; display: inline-block; left: 0px; top: 154.029px; width: 178.869px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal borrowings<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 20.7422px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,784<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-717</span><span style="position: absolute; display: inline-block; left: 261.297px; top: 154.045px; width: 299.947px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">612<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.0938px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-167<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-188<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,029</span><span style="position: absolute; display: inline-block; left: 0px; top: 183.826px; width: 60.334px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as </span><span style="position: absolute; display: inline-block; left: 0px; top: 195.826px; width: 560.895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.3866px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,315<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 400.17px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,774</span><span style="position: absolute; display: inline-block; left: 0px; top: 210.717px; width: 62.9004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as </span><span style="position: absolute; display: inline-block; left: 0px; top: 222.717px; width: 561.082px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 77.7716px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>436<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 409.721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>255</span><span style="position: absolute; display: inline-block; left: 0px; top: 252.824px; width: 32.4609px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Leases:</span><span style="position: absolute; display: inline-block; left: 280.562px; top: 267.273px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">5</span><span style="position: absolute; display: inline-block; left: 0px; top: 267.404px; width: 280.594px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10,551<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 12.7852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3,080<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,776</span><span style="position: absolute; display: inline-block; left: 311.75px; top: 267.404px; width: 248.877px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-433<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-173<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11,614</span><span style="position: absolute; display: inline-block; left: 0px; top: 297.186px; width: 60.334px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as </span><span style="position: absolute; display: inline-block; left: 0px; top: 309.186px; width: 560.895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.3866px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8,153<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 400.17px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8,582</span><span style="position: absolute; display: inline-block; left: 0px; top: 324.076px; width: 62.9004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as </span><span style="position: absolute; display: inline-block; left: 0px; top: 336.076px; width: 561.258px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,398<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 400.658px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,032</span><span style="position: absolute; display: inline-block; left: 0px; top: 350.967px; width: 84.2637px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal borrowings </span><span style="position: absolute; display: inline-block; left: 0px; top: 362.967px; width: 560.982px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">and leases<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>15,335<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 13.3535px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-3,797<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.0938px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-292<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,388<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.6758px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-433<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-26<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.0938px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-340<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-192<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>15,643</span><span style="position: absolute; display: inline-block; left: 0px; top: 392.764px; width: 88.4062px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Derivativ<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>es hedge </span><span style="position: absolute; display: inline-block; left: 0px; top: 404.764px; width: 561.135px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">of borrowings, net<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.3594px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>194<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.6758px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 14 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.0742px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>188<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.7852px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>136<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>532</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Other includes f<span class="_ _2"/>air <span class="_ _2"/>value changes and amortisation<span class="_ _2"/> of fees.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Of the t<span class="_ _2"/>otal issued bonds at 31 December<span class="_ _2"/> 2022,<span class="_ _2"/> USD 552m are gr<span class="_ _2"/>een bonds used to finance ac<span class="_ _2"/>quisitions of green methanol v<span class="_ _2"/>essels. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Cash flows from financing activities of nega<span class="_ _2"/>tive USD 717m<span class="_ _2"/> are made up of repa<span class="_ _2"/>yments of borrowings of ne<span class="_ _2"/>gative USD 800m,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and proceeds fr<span class="_ _2"/>om borrowings of USD<span class="_ _2"/> 83m.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _9"> </span>Cash flows fr<span class="_ _2"/>om other include a<span class="_ _2"/> decrease in cash ov<span class="_ _2"/>erdr<span class="_ _2"/>afts of USD 282m. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">5 <span class="_ _9"> </span>Additions include USD 571m of lease liabilities from businesses ac<span class="_ _2"/>quired during 2022.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The maturity anal<span class="_ _2"/>ysis of lease liabilities is disclosed in note 4.5<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial liabilities<span class="ff3"> are initially<span class="_ _2"/> reco<span class="_ _2"/>gnised at f<span class="_ _2"/>air <span class="_ _2"/>value less </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transaction<span class="_ _2"/> costs.<span class="_ _2"/> Subsequently<span class="_ _0"/>, the financial liabilities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are measur<span class="_ _2"/>ed at amortised cost<span class="_ _2"/> using the eff<span class="_ _2"/>ective inter<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">est method,<span class="_ _2"/> wher<span class="_ _2"/>eby <span class="_ _2"/>transaction costs and an<span class="_ _2"/>y pr<span class="_ _2"/>emium </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _2"/> discount ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised as financial expenses over<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">term of <span class="_ _2"/>the liabilities. Fix<span class="_ _2"/>ed interest<span class="_ _2"/> loans subject <span class="_ _2"/>to fair<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value hedge accoun<span class="_ _2"/>ting are measured a<span class="_ _2"/>t amortised cost<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with an adjustment<span class="_ _2"/> for<span class="_ _2"/> the fair<span class="_ _0"/> value of the hedg<span class="_ _2"/>ed inter<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">est component.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Lease liabilities<span class="ff3"> ar<span class="_ _2"/>e measured at<span class="_ _2"/> the presen<span class="_ _2"/>t <span class="_ _2"/>value of the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lease payments over<span class="_ _0"/> the lease term,<span class="_ _2"/> at <span class="_ _2"/>the inter<span class="_ _2"/>est r<span class="_ _2"/>ate </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">implicit in <span class="_ _2"/>the lease,<span class="_ _2"/> or<span class="_ _2"/> at <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s incremen-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tal borrowing r<span class="_ _2"/>ate (IBR).<span class="_ _2"/> <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s IBR reflects </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the Group’<span class="_ _2"/>s cr<span class="_ _2"/>edit risk,<span class="_ _2"/> leased amount, and con<span class="_ _2"/>tract<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">dura<span class="_ _2"/>tion, as w<span class="_ _2"/>ell as the natur<span class="_ _2"/>e and quality of <span class="_ _2"/>the asset’<span class="_ _2"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">security and economic envir<span class="_ _2"/>onment in<span class="_ _2"/> which the leased </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets opera<span class="_ _2"/>te.<span class="_ _2"/> T<span class="_ _0"/>o determine <span class="_ _2"/>the IBR, <span class="_ _2"/>where possible,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk uses recent<span class="_ _2"/> thir<span class="_ _2"/>d-party financing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">received b<span class="_ _2"/>y the individual les<span class="_ _2"/>see as a starting point, <span class="_ _2"/>with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">adjustments t<span class="_ _2"/>o reflect chang<span class="_ _2"/>es in financing conditions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">since that<span class="_ _2"/> financing was r<span class="_ _2"/>eceived.<span class="_ _2"/> Wher<span class="_ _2"/>e such financing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is not av<span class="_ _2"/>ailable,<span class="_ _2"/> A.P<span class="_ _4"/>. Moller<span class="_ _0"/> - Maersk uses a build-up ap-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">proach <span class="_ _2"/>that starts <span class="_ _2"/>with a risk<span class="_ _2"/>- free int<span class="_ _2"/>erest<span class="_ _2"/> rat<span class="_ _2"/>e adjusted </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by cr<span class="_ _2"/>edit risk and specific risks f<span class="_ _2"/>aced by <span class="_ _2"/>the lessee such </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as asset type,<span class="_ _2"/> geogr<span class="_ _2"/>aphical risks,<span class="_ _2"/> etc.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Subsequently<span class="_ _0"/>, the lease liability<span class="_ _2"/> is measured at<span class="_ _2"/> amor-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tised cost with<span class="_ _2"/> each lease payment<span class="_ _2"/> allocated between <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">repaymen<span class="_ _2"/>t of the liability<span class="_ _2"/> and financing cost.<span class="_ _2"/> The finance </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cost is char<span class="_ _2"/>ged to <span class="_ _2"/>the income statement<span class="_ _2"/> over<span class="_ _2"/> <span class="_ _2"/>the lease </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">period, using <span class="_ _2"/>the IBR that<span class="_ _2"/> was used <span class="_ _2"/>to discount<span class="_ _2"/> the lease </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The following lease pa<span class="_ _2"/>yments are included in <span class="_ _2"/>the net </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">present<span class="_ _2"/> value:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span>fixed payments (including in-substance fix<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments),<span class="_ _2"/> less any lease incen<span class="_ _2"/>tives receiv<span class="_ _2"/>able</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span>variable lease paymen<span class="_ _2"/>ts that<span class="_ _2"/> are based on an index </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">o<span class="_ _1"/>r a<span class="_ _1"/> ra<span class="_ _1"/>t<span class="_ _1"/>e</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span>amounts expected <span class="_ _2"/>to be pay<span class="_ _2"/>able by <span class="_ _2"/>the lessee under<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">residual v<span class="_ _2"/>alue guarantees</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span><span class="ws0">the exercise price of a<span class="_ _2"/> purchase option if <span class="_ _2"/>the lessee is </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reasonabl<span class="_ _2"/>y certain <span class="_ _2"/>to exer<span class="_ _2"/>cise that<span class="_ _2"/> option, and pay<span class="_ _0"/><span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments of penalties f<span class="_ _2"/>or <span class="_ _2"/>terminating <span class="_ _2"/>the lease,<span class="_ _2"/> if the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lease term<span class="_ _2"/> reflects the les<span class="_ _2"/>see exercising <span class="_ _2"/>that option.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Extension and <span class="_ _2"/>termination options in lease contr<span class="_ _2"/>acts ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">included in contr<span class="_ _2"/>acts where it<span class="_ _2"/> is reasonabl<span class="_ _2"/>y certain <span class="_ _2"/>that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _3"/>. Moller - M<span class="_ _1"/>aers<span class="_ _1"/>k will exercise <span class="_ _2"/>the options.<span class="_ _2"/> These <span class="_ _2"/>terms </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are used <span class="_ _2"/>to maximise oper<span class="_ _2"/>ational flexibility in <span class="_ _2"/>terms of<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">managing contr<span class="_ _2"/>acts. In<span class="_ _2"/> determining the lease <span class="_ _2"/>term,<span class="_ _2"/> Man-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">agement c<span class="_ _2"/>onsiders all facts and cir<span class="_ _2"/>cumstances that<span class="_ _2"/> cre-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ate an economic incentiv<span class="_ _2"/>e to ex<span class="_ _2"/>ercise an ext<span class="_ _2"/>ension option </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _2"/> to not<span class="_ _2"/> exercise a<span class="_ _2"/> termination<span class="_ _2"/> option. Extension<span class="_ _2"/> opti<span class="_ _1"/>ons </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(or<span class="_ _2"/> periods after<span class="_ _2"/> termination<span class="_ _2"/> options) are only<span class="_ _2"/> included </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the lease <span class="_ _2"/>term if it<span class="_ _2"/> is reasonably<span class="_ _2"/> certain tha<span class="_ _2"/>t the lease<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">will be extended or<span class="_ _0"/> not terminate<span class="_ _2"/>. Most<span class="_ _2"/> of the ext<span class="_ _2"/>en<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sion and t<span class="_ _2"/>ermination options held are ex<span class="_ _2"/>ercisable only<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">by <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk and not<span class="_ _2"/> by <span class="_ _2"/>the respective lessor<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">This assessment is r<span class="_ _2"/>eviewed if a significan<span class="_ _2"/>t event<span class="_ _2"/> or<span class="_ _2"/> a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">significant change in<span class="_ _2"/> circumstances occurs which<span class="_ _2"/> affects </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">this assessment,<span class="_ _2"/> and which is within <span class="_ _2"/>the control of <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lessee.<span class="_ _2"/> Wher<span class="_ _2"/>e A.P<span class="_ _4"/>. Moller<span class="_ _0"/> - Maersk will probably<span class="_ _2"/> exer<span class="_ _2"/>cise </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">specific purchase options,<span class="_ _2"/> <span class="_ _2"/>those options are included in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the measurement<span class="_ _2"/> of the lease liability<span class="_ _2"/> with corr<span class="_ _2"/>esponding </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">right<span class="_ _2"/>-of-use asset depr<span class="_ _2"/>eciated over<span class="_ _0"/> the asset’s useful lif<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _2"/>ther than<span class="_ _2"/> lease term.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 4.2 <span class="_"> </span>Borr<span class="_ _2"/>owings and lease liability r<span class="_ _2"/>econciliation</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:415.25px;"><span style="position: absolute; display: inline-block; left: 88px; top: 0.0136718px; width: 42.1172px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Net debt <span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 161.844px; top: 0.0136718px; width: 401.613px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cash flows<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 105.586px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Non-cash changes<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 117.082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Net debt <span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span></span><span style="position: absolute; display: inline-block; left: 66.3281px; top: 12.0137px; width: 61.5527px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">31 December</span><span style="position: absolute; display: inline-block; left: 500.219px; top: 12.0137px; width: 61.5527px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">31 December</span><span style="position: absolute; display: inline-block; left: 485.219px; top: 36.5547px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 106.234px; top: 36.6855px; width: 72.7559px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.3594px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">From</span></span><span style="position: absolute; display: inline-block; left: 204.141px; top: 36.6855px; width: 79.6523px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Addi- </span><span style="position: absolute; display: inline-block; left: 292.141px; top: 36.6855px; width: 98.0742px; white-space: pre; word-spacing: -2.562px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Dis posals<span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 4.20705px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, </span></span><span style="position: absolute; display: inline-block; left: 401.859px; top: 36.6855px; width: 37.957px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Foreign <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 458.422px; top: 36.6855px; width: 26.6426px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other</span><span style="position: absolute; display: inline-block; left: 535.594px; top: 36.6855px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023</span><span style="position: absolute; display: inline-block; left: 136.047px; top: 48.6855px; width: 42.4336px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">financing</span><span style="position: absolute; display: inline-block; left: 257.172px; top: 48.6855px; width: 23.4785px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">tions</span><span style="position: absolute; display: inline-block; left: 356.469px; top: 48.6855px; width: 32.2793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">assets </span><span style="position: absolute; display: inline-block; left: 393.062px; top: 48.6855px; width: 47.2441px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">exchange </span><span style="position: absolute; display: inline-block; left: 137.328px; top: 60.6855px; width: 41.0273px; white-space: pre; word-spacing: 0.105px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">activities</span><span style="position: absolute; display: inline-block; left: 349.156px; top: 60.6855px; width: 39.4219px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 407.188px; top: 60.6855px; width: 32.4082px; white-space: pre; word-spacing: 0.084px; letter-spacing: -0.084px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">move-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 368px; top: 72.7012px; width: 18.9141px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">sale</span><span style="position: absolute; display: inline-block; left: 409.125px; top: 72.7012px; width: 29.7891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">ments</span><span style="position: absolute; display: inline-block; left: 0px; top: 97.668px; width: 53.1211px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Borrowings:</span><span style="position: absolute; display: inline-block; left: 0px; top: 112.248px; width: 73.8398px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bank and other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 124.248px; width: 561.117px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">credit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> institutions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,053<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.5469px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-88<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>973</span><span style="position: absolute; display: inline-block; left: 60.9844px; top: 139.023px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 0px; top: 139.139px; width: 61.3242px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Issued bonds</span><span style="position: absolute; display: inline-block; left: 106.234px; top: 139.139px; width: 454.33px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2,976<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>308<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>53<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>56<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,393</span><span style="position: absolute; display: inline-block; left: 179.141px; top: 153.914px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 0px; top: 154.029px; width: 178.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal borrowings<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,029<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>220</span><span style="position: absolute; display: inline-block; left: 218.812px; top: 154.045px; width: 342.598px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.4607px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>61<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>56<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,366</span><span style="position: absolute; display: inline-block; left: 0px; top: 183.826px; width: 60.334px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as </span><span style="position: absolute; display: inline-block; left: 0px; top: 195.826px; width: 561.557px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 49.4648px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,774<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396.757px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,169</span><span style="position: absolute; display: inline-block; left: 0px; top: 210.717px; width: 62.9004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as </span><span style="position: absolute; display: inline-block; left: 0px; top: 222.717px; width: 561.252px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 81.4395px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>255<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 406.226px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>197</span><span style="position: absolute; display: inline-block; left: 0px; top: 252.824px; width: 32.4609px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Leases:</span><span style="position: absolute; display: inline-block; left: 281.203px; top: 267.273px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">4</span><span style="position: absolute; display: inline-block; left: 0px; top: 267.404px; width: 280.365px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.0742px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11,614<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 8.86522px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3,226<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,268</span><span style="position: absolute; display: inline-block; left: 312.125px; top: 267.404px; width: 248.818px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-241<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-56<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.5998px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>84<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10,448</span><span style="position: absolute; display: inline-block; left: 0px; top: 297.186px; width: 60.334px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as </span><span style="position: absolute; display: inline-block; left: 0px; top: 309.186px; width: 561.557px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 49.4648px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8,582<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396.757px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,798</span><span style="position: absolute; display: inline-block; left: 0px; top: 324.076px; width: 62.9004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as </span><span style="position: absolute; display: inline-block; left: 0px; top: 336.076px; width: 561.281px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,032<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,650</span><span style="position: absolute; display: inline-block; left: 0px; top: 350.967px; width: 84.2637px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal borrowings </span><span style="position: absolute; display: inline-block; left: 0px; top: 362.967px; width: 560.906px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">and leases<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>15,643<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 8.86522px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-3,006<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,271<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.6758px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-241<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-56<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.6758px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>145<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>58<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>14,814</span><span style="position: absolute; display: inline-block; left: 0px; top: 392.764px; width: 88.4062px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Derivativ<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>es hedge </span><span style="position: absolute; display: inline-block; left: 0px; top: 404.764px; width: 561.141px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">of borrowings, net<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>532<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 25.5469px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-46<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-53<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.4961px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-81<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>352</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Other includes f<span class="_ _2"/>air <span class="_ _2"/>value changes and amortisation<span class="_ _2"/> of fees.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Of the t<span class="_ _2"/>otal issued bonds at 31 December<span class="_ _2"/> 2023<span class="_ _2"/>, USD 1.3bn ar<span class="_ _2"/>e green bonds primaril<span class="_ _2"/>y used t<span class="_ _2"/>o finance the construction </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of green methanol <span class="_ _2"/>vessels.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Cash flows from financing activities of USD 220m ar<span class="_ _2"/>e made up of repaymen<span class="_ _2"/>ts of borrowings of neg<span class="_ _2"/>ative USD 660m,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">adjusted for<span class="_ _2"/> cash flows fr<span class="_ _2"/>om hedges of USD 35m and pr<span class="_ _2"/>oceeds from borr<span class="_ _2"/>owings of USD 845m.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _9"> </span>Additions include USD 29m of lease liabilities from<span class="_ _2"/> businesses acquired during 2023<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The maturity anal<span class="_ _2"/>ysis of lease liabilities is disclosed in note 4.5<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:415.25px;"><span style="position: absolute; display: inline-block; left: 88.4375px; top: 0.0136718px; width: 42.1172px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Net debt <span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 157.062px; top: 0.0136718px; width: 406.418px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cash flows<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.268px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Non-cash changes<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.566px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Net debt <span style="word-spacing: 0px; letter-spacing: -0.1575px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span></span><span style="position: absolute; display: inline-block; left: 66.3125px; top: 12.0137px; width: 61.5527px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">31 December</span><span style="position: absolute; display: inline-block; left: 500.625px; top: 12.0137px; width: 61.5527px; white-space: pre; word-spacing: 0px; letter-spacing: -0.1575px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">31 December</span><span style="position: absolute; display: inline-block; left: 485.219px; top: 36.5547px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 105.453px; top: 36.6855px; width: 72.7559px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2021<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.3594px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0.105px; letter-spacing: -0.105px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">From</span></span><span style="position: absolute; display: inline-block; left: 203.156px; top: 36.6855px; width: 79.6523px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Addi- </span><span style="position: absolute; display: inline-block; left: 291.531px; top: 36.6855px; width: 98.0742px; white-space: pre; word-spacing: -2.562px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Dis posals<span style="word-spacing: -2.562px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 4.20705px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0.0315px; letter-spacing: -0.0315px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, </span></span><span style="position: absolute; display: inline-block; left: 402.844px; top: 36.6855px; width: 37.957px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Foreign <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 458px; top: 36.6855px; width: 26.6426px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other</span><span style="position: absolute; display: inline-block; left: 535.375px; top: 36.6855px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2022</span><span style="position: absolute; display: inline-block; left: 136.062px; top: 48.6855px; width: 42.4336px; white-space: pre; word-spacing: 0.126px; letter-spacing: -0.126px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">financing</span><span style="position: absolute; display: inline-block; left: 257.672px; top: 48.6855px; width: 23.4785px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">tions</span><span style="position: absolute; display: inline-block; left: 357.219px; top: 48.6855px; width: 32.2793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">assets </span><span style="position: absolute; display: inline-block; left: 393.672px; top: 48.6855px; width: 47.2441px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">exchange </span><span style="position: absolute; display: inline-block; left: 137.453px; top: 60.6855px; width: 41.0273px; white-space: pre; word-spacing: 0.105px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">activities</span><span style="position: absolute; display: inline-block; left: 349.484px; top: 60.6855px; width: 39.4219px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 407.031px; top: 60.6855px; width: 32.4082px; white-space: pre; word-spacing: 0.084px; letter-spacing: -0.084px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">move-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 367.875px; top: 72.7012px; width: 18.9141px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">sale</span><span style="position: absolute; display: inline-block; left: 408.203px; top: 72.7012px; width: 29.7891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">ments</span><span style="position: absolute; display: inline-block; left: 0px; top: 97.668px; width: 53.1211px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Borrowings:</span><span style="position: absolute; display: inline-block; left: 0px; top: 112.248px; width: 73.8398px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bank and other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 124.248px; width: 561.387px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">credit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> institutions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 19.4824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,443<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-717<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-282<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.6758px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>612<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,053</span><span style="position: absolute; display: inline-block; left: 60.8125px; top: 139.023px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 0px; top: 139.139px; width: 61.3242px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Issued bonds</span><span style="position: absolute; display: inline-block; left: 103.531px; top: 139.139px; width: 458.52px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">3,341<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-177<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-188<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,976</span><span style="position: absolute; display: inline-block; left: 179.828px; top: 153.914px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 205.922px; top: 154.045px; width: 23.6895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">-282</span><span style="position: absolute; display: inline-block; left: 0px; top: 154.029px; width: 178.869px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal borrowings<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 20.7422px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,784<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-717</span><span style="position: absolute; display: inline-block; left: 261.297px; top: 154.045px; width: 299.947px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">612<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.0938px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-167<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-188<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,029</span><span style="position: absolute; display: inline-block; left: 0px; top: 183.826px; width: 60.334px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as </span><span style="position: absolute; display: inline-block; left: 0px; top: 195.826px; width: 560.895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.3866px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,315<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 400.17px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,774</span><span style="position: absolute; display: inline-block; left: 0px; top: 210.717px; width: 62.9004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as </span><span style="position: absolute; display: inline-block; left: 0px; top: 222.717px; width: 561.082px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 77.7716px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>436<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 409.721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>255</span><span style="position: absolute; display: inline-block; left: 0px; top: 252.824px; width: 32.4609px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Leases:</span><span style="position: absolute; display: inline-block; left: 280.562px; top: 267.273px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">5</span><span style="position: absolute; display: inline-block; left: 0px; top: 267.404px; width: 280.594px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 24.9082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10,551<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 12.7852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3,080<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,776</span><span style="position: absolute; display: inline-block; left: 311.75px; top: 267.404px; width: 248.877px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-433<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.7188px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-173<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11,614</span><span style="position: absolute; display: inline-block; left: 0px; top: 297.186px; width: 60.334px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as </span><span style="position: absolute; display: inline-block; left: 0px; top: 309.186px; width: 560.895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 45.3866px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8,153<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 400.17px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8,582</span><span style="position: absolute; display: inline-block; left: 0px; top: 324.076px; width: 62.9004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Classified as </span><span style="position: absolute; display: inline-block; left: 0px; top: 336.076px; width: 561.258px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,398<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 400.658px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,032</span><span style="position: absolute; display: inline-block; left: 0px; top: 350.967px; width: 84.2637px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal borrowings </span><span style="position: absolute; display: inline-block; left: 0px; top: 362.967px; width: 560.982px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">and leases<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>15,335<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 13.3535px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-3,797<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.0938px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-292<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,388<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.6758px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-433<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.0664px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-26<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.0938px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-340<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 23.4375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-192<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>15,643</span><span style="position: absolute; display: inline-block; left: 0px; top: 392.764px; width: 88.4062px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Derivativ<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>es hedge </span><span style="position: absolute; display: inline-block; left: 0px; top: 404.764px; width: 561.135px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">of borrowings, net<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.3594px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>194<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.6758px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 14 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 29.0742px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>188<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 27.7852px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>136<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>532</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Other includes f<span class="_ _2"/>air <span class="_ _2"/>value changes and amortisation<span class="_ _2"/> of fees.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Of the t<span class="_ _2"/>otal issued bonds at 31 December<span class="_ _2"/> 2022,<span class="_ _2"/> USD 552m are gr<span class="_ _2"/>een bonds used to finance ac<span class="_ _2"/>quisitions of green methanol v<span class="_ _2"/>essels. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Cash flows from financing activities of nega<span class="_ _2"/>tive USD 717m<span class="_ _2"/> are made up of repa<span class="_ _2"/>yments of borrowings of ne<span class="_ _2"/>gative USD 800m,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and proceeds fr<span class="_ _2"/>om borrowings of USD<span class="_ _2"/> 83m.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _9"> </span>Cash flows fr<span class="_ _2"/>om other include a<span class="_ _2"/> decrease in cash ov<span class="_ _2"/>erdr<span class="_ _2"/>afts of USD 282m. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">5 <span class="_ _9"> </span>Additions include USD 571m of lease liabilities from businesses ac<span class="_ _2"/>quired during 2022.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The maturity anal<span class="_ _2"/>ysis of lease liabilities is disclosed in note 4.5<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 5.5 <span class="_"> </span>Cash flo<span class="_ _2"/>w specifications</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:216px;"><span style="position: absolute; display: inline-block; left: 453.797px; top: 0.0136718px; width: 102.393px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 27.1211px; width: 115.242px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Change in working capital</span><span style="position: absolute; display: inline-block; left: 0px; top: 41.7012px; width: 556.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ade receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 370.365px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,870<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1,018</span><span style="position: absolute; display: inline-block; left: 0px; top: 56.5918px; width: 556.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> working capital movements<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 288.018px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1,441<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-731</span><span style="position: absolute; display: inline-block; left: 0px; top: 71.4824px; width: 556.664px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> of working capital<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 253.16px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-59</span><span style="position: absolute; display: inline-block; left: 0px; top: 86.373px; width: 556.646px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 436.207px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>417<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-1,808</span><span style="position: absolute; display: inline-block; left: 0px; top: 116.465px; width: 289.98px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Purchase of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> intangible assets and property, plant and equipment</span><span style="position: absolute; display: inline-block; left: 45.2031px; top: 130.945px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 131.045px; width: 44.6895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions</span><span style="position: absolute; display: inline-block; left: 447.062px; top: 131.061px; width: 109.775px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-6,024<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-8,205</span><span style="position: absolute; display: inline-block; left: 0px; top: 145.951px; width: 557.221px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Of which is right<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-of-use assets, etc.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 284.766px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,164<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,210</span><span style="position: absolute; display: inline-block; left: 0px; top: 160.842px; width: 556.758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Of which is borr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owing costs capitalised on assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 232.588px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>133<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>49</span><span style="position: absolute; display: inline-block; left: 0px; top: 174.982px; width: 556.998px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Adjustments of additions for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> cash flow pr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>esentation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 222.627px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>63<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>194</span><span style="position: absolute; display: inline-block; left: 0px; top: 190.639px; width: 556.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Change in pay<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables to suppliers r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>egar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ding purchase of assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 182.338px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>18<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-411</span><span style="position: absolute; display: inline-block; left: 0px; top: 205.514px; width: 556.857px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 422.325px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-3,646<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-4,163</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Additions to intangible assets of USD<span class="_ _2"/> 204m (USD 349m),<span class="_ _2"/> property<span class="_ _2"/>,<span class="_ _2"/> plant and equipment<span class="_ _2"/> of USD 3.<span class="_ _2"/>7bn (USD 3<span class="_ _2"/>.6bn),<span class="_ _2"/> right-of-use assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of USD 2.2bn (USD 4<span class="_ _2"/>.2bn) and assets held for<span class="_ _2"/> sale of USD 0m (USD 5m).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"> </span>SIGNIFICANT AC<span class="_ _2"/>COUNTING JUDGEMENTS </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Operations in coun<span class="_ _2"/>tries with limited access t<span class="_ _2"/>o </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">repatriating surplus cash</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>.<span class="_ _2"/> Moll<span class="_ _2"/>er<span class="_ _2"/> - Ma<span class="_ _2"/>ersk<span class="_ _2"/> operat<span class="_ _2"/>es worldwide and, in this <span class="ls0 ws0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">respec<span class="_ _1"/>t, has oper<span class="_ _2"/>ations in countries wher<span class="_ _2"/>e the ability<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to repa<span class="_ _2"/>triate surplus cash is complicated and <span class="_ _2"/>time </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">consuming. In<span class="_ _2"/> these countries,<span class="_ _2"/> Management<span class="_ _2"/> makes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">judgements as t<span class="_ _2"/>o whether<span class="_ _2"/> these cash positions can<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">be reco<span class="_ _2"/>gnised as cash and cash equivalents<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Cash flow<span class="ff3"> from<span class="_ _2"/> operating activities includes al<span class="_ _2"/>l cash </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transactions other<span class="_ _0"/> than cash flows arising from<span class="_ _2"/> investing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and financing activities such as investments and div<span class="_ _2"/>est<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments,<span class="_ _2"/> received dividends<span class="_ _2"/>, principal pa<span class="_ _2"/>yments of loans,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">instalments on lease liabilities,<span class="_ _2"/> paid and receiv<span class="_ _2"/>ed financial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">items and equity <span class="_ _2"/>transactions<span class="_ _2"/>. C<span class="_ _2"/>apitalisation of borro<span class="_ _2"/>wing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">costs is considered as a non-cash<span class="_ _2"/> item,<span class="_ _2"/> and the actual </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments of <span class="_ _2"/>these borrowing costs ar<span class="_ _2"/>e included in cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"><span><span style="display:inherit;clear:left;">flow from financing.</span></span><span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Cash and cash equiv<span class="_ _2"/>alents comprise cash and bank <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">balances net of bank ov<span class="_ _2"/>erdr<span class="_ _2"/>afts where o<span class="_ _2"/>verdr<span class="_ _2"/>aft<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">facilities form an<span class="_ _2"/> integr<span class="_ _2"/>al part of <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller - Maersk’s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash management.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial liabilities<span class="ff3"> are initially<span class="_ _2"/> reco<span class="_ _2"/>gnised at f<span class="_ _2"/>air <span class="_ _2"/>value less </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transaction<span class="_ _2"/> costs.<span class="_ _2"/> Subsequently<span class="_ _0"/>, the financial liabilities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are measur<span class="_ _2"/>ed at amortised cost<span class="_ _2"/> using the eff<span class="_ _2"/>ective inter<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">est method,<span class="_ _2"/> wher<span class="_ _2"/>eby <span class="_ _2"/>transaction costs and an<span class="_ _2"/>y pr<span class="_ _2"/>emium </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _2"/> discount ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised as financial expenses over<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">term of <span class="_ _2"/>the liabilities. Fix<span class="_ _2"/>ed interest<span class="_ _2"/> loans subject <span class="_ _2"/>to fair<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value hedge accoun<span class="_ _2"/>ting are measured a<span class="_ _2"/>t amortised cost<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with an adjustment<span class="_ _2"/> for<span class="_ _2"/> the fair<span class="_ _0"/> value of the hedg<span class="_ _2"/>ed inter<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">est component.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial liabilities<span class="ff3"> are initially<span class="_ _2"/> reco<span class="_ _2"/>gnised at f<span class="_ _2"/>air <span class="_ _2"/>value less </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transaction<span class="_ _2"/> costs.<span class="_ _2"/> Subsequently<span class="_ _0"/>, the financial liabilities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are measur<span class="_ _2"/>ed at amortised cost<span class="_ _2"/> using the eff<span class="_ _2"/>ective inter<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">est method,<span class="_ _2"/> wher<span class="_ _2"/>eby <span class="_ _2"/>transaction costs and an<span class="_ _2"/>y pr<span class="_ _2"/>emium </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">or<span class="_ _2"/> discount ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised as financial expenses over<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">term of <span class="_ _2"/>the liabilities. Fix<span class="_ _2"/>ed interest<span class="_ _2"/> loans subject <span class="_ _2"/>to fair<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value hedge accoun<span class="_ _2"/>ting are measured a<span class="_ _2"/>t amortised cost<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with an adjustment<span class="_ _2"/> for<span class="_ _2"/> the fair<span class="_ _0"/> value of the hedg<span class="_ _2"/>ed inter<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">est component.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 4.4 <span class="_ _64"> </span>Financial income and expenses</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:362.796875px;"><span style="position: absolute; display: inline-block; left: 453.797px; top: 0.0136718px; width: 102.393px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 141.312px; top: 24.5547px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1,4</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 142.049px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est expenses on liabilities</span><span style="position: absolute; display: inline-block; left: 461.625px; top: 24.6855px; width: 95.6895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">904<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>815</span><span style="position: absolute; display: inline-block; left: 176.062px; top: 39.4453px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 175.846px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Borrowing costs capitalised on<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> assets</span><span style="position: absolute; display: inline-block; left: 461.625px; top: 39.5762px; width: 95.7773px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">133<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>49</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est income on loans and r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>eceivables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 260.496px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,202<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>436</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.98px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value adjustment <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansferred fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om equity hedg<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e reserve (loss)<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.412px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>33</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>est e<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>xpenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 352.547px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-410<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>363</span><span style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate gains on bank balances, borr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owings and working capital<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>335<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>596</span><span style="position: absolute; display: inline-block; left: 0px; top: 128.92px; width: 556.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate losses on bank balances, borr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owings and working capital<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>522<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>586</span><span style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 556.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>eign ex<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>change gains/losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 292.102px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-187<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>10</span><span style="position: absolute; display: inline-block; left: 0px; top: 173.607px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value gains fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om derivatives<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 309.943px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>200<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>54</span><span style="position: absolute; display: inline-block; left: 0px; top: 188.498px; width: 556.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value losses from<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> derivatives<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 312.117px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>56<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>319</span><span style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 557.238px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> v<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>alue gains/losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 333.785px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>144<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-265</span><span style="position: absolute; display: inline-block; left: 160.516px; top: 233.07px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 0px; top: 233.17px; width: 160.646px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Dividends received fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om securities</span><span style="position: absolute; display: inline-block; left: 473.984px; top: 233.186px; width: 85.4355px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 248.076px; width: 559.395px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gains on payable c<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ontingent consider<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 268.424px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>66<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 262.967px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses on financial as<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>sets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 298.195px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13</span><span style="position: absolute; display: inline-block; left: 0px; top: 277.857px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Reversal of impairment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> losses on financial assets <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 242.473px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2</span><span style="position: absolute; display: inline-block; left: 0px; top: 292.748px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial expenses, net<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 344.49px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-428<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>629</span><span style="position: absolute; display: inline-block; left: 0px; top: 322.84px; width: 40.6699px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Of<span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> which:</span><span style="position: absolute; display: inline-block; left: 0px; top: 337.42px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Financial income<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 372.685px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,804<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,088</span><span style="position: absolute; display: inline-block; left: 0px; top: 352.311px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Financial expenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 363.445px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,376<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,717</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Of which USD 563m (USD<span class="_ _2"/> 518m) relates <span class="_ _2"/>to inter<span class="_ _2"/>est expenses on lease liabilities.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>The capitalisation r<span class="_ _2"/>ate used to det<span class="_ _2"/>ermine the amount of borr<span class="_ _2"/>owing costs eligible for<span class="_ _2"/> capitalisation is 7<span class="_ _0"/>.2% (4.6%).<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Of which USD 1m (USD 0m) pertains to shar<span class="_ _2"/>es held at <span class="_ _2"/>the end of the y<span class="_ _2"/>ear and USD<span class="_ _2"/> 0m (USD 0m) pertains to shar<span class="_ _2"/>es sold during the <span class="_ _2"/>year<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _9"> </span>Of which USD 10m (USD<span class="_ _2"/> 0m) relates <span class="_ _2"/>to expenses from pr<span class="_ _2"/>epayment<span class="_ _2"/> of issued bonds.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _2"/> an analysis of gains and los<span class="_ _2"/>ses from deriv<span class="_ _2"/>atives,<span class="_ _2"/> ref<span class="_ _2"/>erence is made <span class="_ _2"/>to note 4.5<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 4.4 <span class="_ _64"> </span>Financial income and expenses</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:362.796875px;"><span style="position: absolute; display: inline-block; left: 453.797px; top: 0.0136718px; width: 102.393px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 141.312px; top: 24.5547px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1,4</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 142.049px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est expenses on liabilities</span><span style="position: absolute; display: inline-block; left: 461.625px; top: 24.6855px; width: 95.6895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">904<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>815</span><span style="position: absolute; display: inline-block; left: 176.062px; top: 39.4453px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 175.846px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Borrowing costs capitalised on<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> assets</span><span style="position: absolute; display: inline-block; left: 461.625px; top: 39.5762px; width: 95.7773px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">133<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>49</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est income on loans and r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>eceivables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 260.496px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,202<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>436</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.98px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value adjustment <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansferred fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om equity hedg<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e reserve (loss)<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.412px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>33</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>est e<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>xpenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 352.547px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-410<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>363</span><span style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate gains on bank balances, borr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owings and working capital<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>335<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>596</span><span style="position: absolute; display: inline-block; left: 0px; top: 128.92px; width: 556.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate losses on bank balances, borr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owings and working capital<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>522<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>586</span><span style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 556.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>eign ex<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>change gains/losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 292.102px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-187<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>10</span><span style="position: absolute; display: inline-block; left: 0px; top: 173.607px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value gains fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om derivatives<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 309.943px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>200<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>54</span><span style="position: absolute; display: inline-block; left: 0px; top: 188.498px; width: 556.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value losses from<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> derivatives<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 312.117px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>56<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>319</span><span style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 557.238px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> v<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>alue gains/losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 333.785px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>144<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-265</span><span style="position: absolute; display: inline-block; left: 160.516px; top: 233.07px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 0px; top: 233.17px; width: 160.646px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Dividends received fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om securities</span><span style="position: absolute; display: inline-block; left: 473.984px; top: 233.186px; width: 85.4355px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 248.076px; width: 559.395px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gains on payable c<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ontingent consider<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 268.424px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>66<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 262.967px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses on financial as<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>sets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 298.195px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13</span><span style="position: absolute; display: inline-block; left: 0px; top: 277.857px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Reversal of impairment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> losses on financial assets <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 242.473px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2</span><span style="position: absolute; display: inline-block; left: 0px; top: 292.748px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial expenses, net<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 344.49px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-428<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>629</span><span style="position: absolute; display: inline-block; left: 0px; top: 322.84px; width: 40.6699px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Of<span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> which:</span><span style="position: absolute; display: inline-block; left: 0px; top: 337.42px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Financial income<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 372.685px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,804<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,088</span><span style="position: absolute; display: inline-block; left: 0px; top: 352.311px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Financial expenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 363.445px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,376<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,717</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Of which USD 563m (USD<span class="_ _2"/> 518m) relates <span class="_ _2"/>to inter<span class="_ _2"/>est expenses on lease liabilities.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>The capitalisation r<span class="_ _2"/>ate used to det<span class="_ _2"/>ermine the amount of borr<span class="_ _2"/>owing costs eligible for<span class="_ _2"/> capitalisation is 7<span class="_ _0"/>.2% (4.6%).<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Of which USD 1m (USD 0m) pertains to shar<span class="_ _2"/>es held at <span class="_ _2"/>the end of the y<span class="_ _2"/>ear and USD<span class="_ _2"/> 0m (USD 0m) pertains to shar<span class="_ _2"/>es sold during the <span class="_ _2"/>year<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _9"> </span>Of which USD 10m (USD<span class="_ _2"/> 0m) relates <span class="_ _2"/>to expenses from pr<span class="_ _2"/>epayment<span class="_ _2"/> of issued bonds.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _2"/> an analysis of gains and los<span class="_ _2"/>ses from deriv<span class="_ _2"/>atives,<span class="_ _2"/> ref<span class="_ _2"/>erence is made <span class="_ _2"/>to note 4.5<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 4.4 <span class="_ _64"> </span>Financial income and expenses</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:362.796875px;"><span style="position: absolute; display: inline-block; left: 453.797px; top: 0.0136718px; width: 102.393px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 141.312px; top: 24.5547px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1,4</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 142.049px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est expenses on liabilities</span><span style="position: absolute; display: inline-block; left: 461.625px; top: 24.6855px; width: 95.6895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">904<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>815</span><span style="position: absolute; display: inline-block; left: 176.062px; top: 39.4453px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 175.846px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Borrowing costs capitalised on<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> assets</span><span style="position: absolute; display: inline-block; left: 461.625px; top: 39.5762px; width: 95.7773px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">133<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>49</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est income on loans and r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>eceivables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 260.496px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,202<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>436</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.98px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value adjustment <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansferred fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om equity hedg<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e reserve (loss)<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.412px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>33</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>est e<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>xpenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 352.547px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-410<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>363</span><span style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate gains on bank balances, borr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owings and working capital<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>335<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>596</span><span style="position: absolute; display: inline-block; left: 0px; top: 128.92px; width: 556.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate losses on bank balances, borr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owings and working capital<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>522<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>586</span><span style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 556.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>eign ex<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>change gains/losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 292.102px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-187<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>10</span><span style="position: absolute; display: inline-block; left: 0px; top: 173.607px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value gains fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om derivatives<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 309.943px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>200<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>54</span><span style="position: absolute; display: inline-block; left: 0px; top: 188.498px; width: 556.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value losses from<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> derivatives<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 312.117px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>56<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>319</span><span style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 557.238px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> v<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>alue gains/losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 333.785px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>144<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-265</span><span style="position: absolute; display: inline-block; left: 160.516px; top: 233.07px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 0px; top: 233.17px; width: 160.646px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Dividends received fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om securities</span><span style="position: absolute; display: inline-block; left: 473.984px; top: 233.186px; width: 85.4355px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 248.076px; width: 559.395px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gains on payable c<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ontingent consider<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 268.424px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>66<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 262.967px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses on financial as<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>sets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 298.195px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13</span><span style="position: absolute; display: inline-block; left: 0px; top: 277.857px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Reversal of impairment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> losses on financial assets <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 242.473px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2</span><span style="position: absolute; display: inline-block; left: 0px; top: 292.748px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial expenses, net<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 344.49px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-428<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>629</span><span style="position: absolute; display: inline-block; left: 0px; top: 322.84px; width: 40.6699px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Of<span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> which:</span><span style="position: absolute; display: inline-block; left: 0px; top: 337.42px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Financial income<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 372.685px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,804<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,088</span><span style="position: absolute; display: inline-block; left: 0px; top: 352.311px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Financial expenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 363.445px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,376<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,717</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Of which USD 563m (USD<span class="_ _2"/> 518m) relates <span class="_ _2"/>to inter<span class="_ _2"/>est expenses on lease liabilities.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>The capitalisation r<span class="_ _2"/>ate used to det<span class="_ _2"/>ermine the amount of borr<span class="_ _2"/>owing costs eligible for<span class="_ _2"/> capitalisation is 7<span class="_ _0"/>.2% (4.6%).<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Of which USD 1m (USD 0m) pertains to shar<span class="_ _2"/>es held at <span class="_ _2"/>the end of the y<span class="_ _2"/>ear and USD<span class="_ _2"/> 0m (USD 0m) pertains to shar<span class="_ _2"/>es sold during the <span class="_ _2"/>year<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _9"> </span>Of which USD 10m (USD<span class="_ _2"/> 0m) relates <span class="_ _2"/>to expenses from pr<span class="_ _2"/>epayment<span class="_ _2"/> of issued bonds.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _2"/> an analysis of gains and los<span class="_ _2"/>ses from deriv<span class="_ _2"/>atives,<span class="_ _2"/> ref<span class="_ _2"/>erence is made <span class="_ _2"/>to note 4.5<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 4.4 <span class="_ _64"> </span>Financial income and expenses</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:362.796875px;"><span style="position: absolute; display: inline-block; left: 453.797px; top: 0.0136718px; width: 102.393px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 141.312px; top: 24.5547px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1,4</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 142.049px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est expenses on liabilities</span><span style="position: absolute; display: inline-block; left: 461.625px; top: 24.6855px; width: 95.6895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">904<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>815</span><span style="position: absolute; display: inline-block; left: 176.062px; top: 39.4453px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 175.846px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Borrowing costs capitalised on<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> assets</span><span style="position: absolute; display: inline-block; left: 461.625px; top: 39.5762px; width: 95.7773px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">133<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>49</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est income on loans and r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>eceivables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 260.496px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,202<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>436</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.98px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value adjustment <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansferred fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om equity hedg<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e reserve (loss)<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.412px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>33</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>est e<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>xpenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 352.547px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-410<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>363</span><span style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate gains on bank balances, borr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owings and working capital<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>335<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>596</span><span style="position: absolute; display: inline-block; left: 0px; top: 128.92px; width: 556.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate losses on bank balances, borr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owings and working capital<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>522<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>586</span><span style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 556.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>eign ex<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>change gains/losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 292.102px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-187<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>10</span><span style="position: absolute; display: inline-block; left: 0px; top: 173.607px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value gains fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om derivatives<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 309.943px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>200<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>54</span><span style="position: absolute; display: inline-block; left: 0px; top: 188.498px; width: 556.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value losses from<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> derivatives<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 312.117px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>56<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>319</span><span style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 557.238px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> v<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>alue gains/losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 333.785px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>144<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-265</span><span style="position: absolute; display: inline-block; left: 160.516px; top: 233.07px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 0px; top: 233.17px; width: 160.646px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Dividends received fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om securities</span><span style="position: absolute; display: inline-block; left: 473.984px; top: 233.186px; width: 85.4355px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 248.076px; width: 559.395px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gains on payable c<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ontingent consider<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 268.424px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>66<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 262.967px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses on financial as<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>sets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 298.195px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13</span><span style="position: absolute; display: inline-block; left: 0px; top: 277.857px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Reversal of impairment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> losses on financial assets <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 242.473px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2</span><span style="position: absolute; display: inline-block; left: 0px; top: 292.748px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial expenses, net<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 344.49px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-428<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>629</span><span style="position: absolute; display: inline-block; left: 0px; top: 322.84px; width: 40.6699px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Of<span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> which:</span><span style="position: absolute; display: inline-block; left: 0px; top: 337.42px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Financial income<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 372.685px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,804<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,088</span><span style="position: absolute; display: inline-block; left: 0px; top: 352.311px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Financial expenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 363.445px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,376<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,717</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Of which USD 563m (USD<span class="_ _2"/> 518m) relates <span class="_ _2"/>to inter<span class="_ _2"/>est expenses on lease liabilities.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>The capitalisation r<span class="_ _2"/>ate used to det<span class="_ _2"/>ermine the amount of borr<span class="_ _2"/>owing costs eligible for<span class="_ _2"/> capitalisation is 7<span class="_ _0"/>.2% (4.6%).<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Of which USD 1m (USD 0m) pertains to shar<span class="_ _2"/>es held at <span class="_ _2"/>the end of the y<span class="_ _2"/>ear and USD<span class="_ _2"/> 0m (USD 0m) pertains to shar<span class="_ _2"/>es sold during the <span class="_ _2"/>year<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _9"> </span>Of which USD 10m (USD<span class="_ _2"/> 0m) relates <span class="_ _2"/>to expenses from pr<span class="_ _2"/>epayment<span class="_ _2"/> of issued bonds.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _2"/> an analysis of gains and los<span class="_ _2"/>ses from deriv<span class="_ _2"/>atives,<span class="_ _2"/> ref<span class="_ _2"/>erence is made <span class="_ _2"/>to note 4.5<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 4.4 <span class="_ _64"> </span>Financial income and expenses</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:362.796875px;"><span style="position: absolute; display: inline-block; left: 453.797px; top: 0.0136718px; width: 102.393px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 141.312px; top: 24.5547px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1,4</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 142.049px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est expenses on liabilities</span><span style="position: absolute; display: inline-block; left: 461.625px; top: 24.6855px; width: 95.6895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">904<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>815</span><span style="position: absolute; display: inline-block; left: 176.062px; top: 39.4453px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 175.846px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Borrowing costs capitalised on<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> assets</span><span style="position: absolute; display: inline-block; left: 461.625px; top: 39.5762px; width: 95.7773px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">133<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>49</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est income on loans and r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>eceivables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 260.496px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,202<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>436</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.98px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value adjustment <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansferred fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om equity hedg<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e reserve (loss)<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.412px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>33</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>est e<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>xpenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 352.547px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-410<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>363</span><span style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate gains on bank balances, borr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owings and working capital<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>335<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>596</span><span style="position: absolute; display: inline-block; left: 0px; top: 128.92px; width: 556.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate losses on bank balances, borr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owings and working capital<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>522<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>586</span><span style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 556.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>eign ex<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>change gains/losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 292.102px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-187<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>10</span><span style="position: absolute; display: inline-block; left: 0px; top: 173.607px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value gains fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om derivatives<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 309.943px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>200<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>54</span><span style="position: absolute; display: inline-block; left: 0px; top: 188.498px; width: 556.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value losses from<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> derivatives<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 312.117px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>56<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>319</span><span style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 557.238px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> v<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>alue gains/losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 333.785px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>144<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-265</span><span style="position: absolute; display: inline-block; left: 160.516px; top: 233.07px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 0px; top: 233.17px; width: 160.646px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Dividends received fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om securities</span><span style="position: absolute; display: inline-block; left: 473.984px; top: 233.186px; width: 85.4355px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 248.076px; width: 559.395px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gains on payable c<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ontingent consider<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 268.424px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>66<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 262.967px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses on financial as<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>sets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 298.195px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13</span><span style="position: absolute; display: inline-block; left: 0px; top: 277.857px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Reversal of impairment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> losses on financial assets <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 242.473px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2</span><span style="position: absolute; display: inline-block; left: 0px; top: 292.748px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial expenses, net<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 344.49px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-428<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>629</span><span style="position: absolute; display: inline-block; left: 0px; top: 322.84px; width: 40.6699px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Of<span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> which:</span><span style="position: absolute; display: inline-block; left: 0px; top: 337.42px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Financial income<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 372.685px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,804<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,088</span><span style="position: absolute; display: inline-block; left: 0px; top: 352.311px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Financial expenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 363.445px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,376<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,717</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Of which USD 563m (USD<span class="_ _2"/> 518m) relates <span class="_ _2"/>to inter<span class="_ _2"/>est expenses on lease liabilities.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>The capitalisation r<span class="_ _2"/>ate used to det<span class="_ _2"/>ermine the amount of borr<span class="_ _2"/>owing costs eligible for<span class="_ _2"/> capitalisation is 7<span class="_ _0"/>.2% (4.6%).<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Of which USD 1m (USD 0m) pertains to shar<span class="_ _2"/>es held at <span class="_ _2"/>the end of the y<span class="_ _2"/>ear and USD<span class="_ _2"/> 0m (USD 0m) pertains to shar<span class="_ _2"/>es sold during the <span class="_ _2"/>year<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _9"> </span>Of which USD 10m (USD<span class="_ _2"/> 0m) relates <span class="_ _2"/>to expenses from pr<span class="_ _2"/>epayment<span class="_ _2"/> of issued bonds.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _2"/> an analysis of gains and los<span class="_ _2"/>ses from deriv<span class="_ _2"/>atives,<span class="_ _2"/> ref<span class="_ _2"/>erence is made <span class="_ _2"/>to note 4.5<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 4.4 <span class="_ _64"> </span>Financial income and expenses</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:362.796875px;"><span style="position: absolute; display: inline-block; left: 453.797px; top: 0.0136718px; width: 102.393px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 141.312px; top: 24.5547px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1,4</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 142.049px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est expenses on liabilities</span><span style="position: absolute; display: inline-block; left: 461.625px; top: 24.6855px; width: 95.6895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">904<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>815</span><span style="position: absolute; display: inline-block; left: 176.062px; top: 39.4453px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 175.846px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Borrowing costs capitalised on<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> assets</span><span style="position: absolute; display: inline-block; left: 461.625px; top: 39.5762px; width: 95.7773px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">133<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>49</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est income on loans and r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>eceivables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 260.496px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,202<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>436</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.98px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value adjustment <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansferred fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om equity hedg<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e reserve (loss)<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.412px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>33</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>est e<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>xpenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 352.547px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-410<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>363</span><span style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate gains on bank balances, borr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owings and working capital<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>335<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>596</span><span style="position: absolute; display: inline-block; left: 0px; top: 128.92px; width: 556.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate losses on bank balances, borr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owings and working capital<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>522<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>586</span><span style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 556.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>eign ex<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>change gains/losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 292.102px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-187<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>10</span><span style="position: absolute; display: inline-block; left: 0px; top: 173.607px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value gains fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om derivatives<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 309.943px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>200<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>54</span><span style="position: absolute; display: inline-block; left: 0px; top: 188.498px; width: 556.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value losses from<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> derivatives<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 312.117px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>56<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>319</span><span style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 557.238px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> v<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>alue gains/losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 333.785px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>144<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-265</span><span style="position: absolute; display: inline-block; left: 160.516px; top: 233.07px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 0px; top: 233.17px; width: 160.646px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Dividends received fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om securities</span><span style="position: absolute; display: inline-block; left: 473.984px; top: 233.186px; width: 85.4355px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 248.076px; width: 559.395px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gains on payable c<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ontingent consider<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 268.424px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>66<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 262.967px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses on financial as<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>sets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 298.195px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13</span><span style="position: absolute; display: inline-block; left: 0px; top: 277.857px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Reversal of impairment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> losses on financial assets <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 242.473px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2</span><span style="position: absolute; display: inline-block; left: 0px; top: 292.748px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial expenses, net<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 344.49px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-428<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>629</span><span style="position: absolute; display: inline-block; left: 0px; top: 322.84px; width: 40.6699px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Of<span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> which:</span><span style="position: absolute; display: inline-block; left: 0px; top: 337.42px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Financial income<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 372.685px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,804<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,088</span><span style="position: absolute; display: inline-block; left: 0px; top: 352.311px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Financial expenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 363.445px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,376<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,717</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Of which USD 563m (USD<span class="_ _2"/> 518m) relates <span class="_ _2"/>to inter<span class="_ _2"/>est expenses on lease liabilities.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>The capitalisation r<span class="_ _2"/>ate used to det<span class="_ _2"/>ermine the amount of borr<span class="_ _2"/>owing costs eligible for<span class="_ _2"/> capitalisation is 7<span class="_ _0"/>.2% (4.6%).<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Of which USD 1m (USD 0m) pertains to shar<span class="_ _2"/>es held at <span class="_ _2"/>the end of the y<span class="_ _2"/>ear and USD<span class="_ _2"/> 0m (USD 0m) pertains to shar<span class="_ _2"/>es sold during the <span class="_ _2"/>year<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _9"> </span>Of which USD 10m (USD<span class="_ _2"/> 0m) relates <span class="_ _2"/>to expenses from pr<span class="_ _2"/>epayment<span class="_ _2"/> of issued bonds.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _2"/> an analysis of gains and los<span class="_ _2"/>ses from deriv<span class="_ _2"/>atives,<span class="_ _2"/> ref<span class="_ _2"/>erence is made <span class="_ _2"/>to note 4.5<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:362.796875px;"><span style="position: absolute; display: inline-block; left: 453.797px; top: 0.0136718px; width: 102.393px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 141.312px; top: 24.5547px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1,4</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 142.049px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est expenses on liabilities</span><span style="position: absolute; display: inline-block; left: 461.625px; top: 24.6855px; width: 95.6895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">904<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>815</span><span style="position: absolute; display: inline-block; left: 176.062px; top: 39.4453px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 175.846px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Borrowing costs capitalised on<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> assets</span><span style="position: absolute; display: inline-block; left: 461.625px; top: 39.5762px; width: 95.7773px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">133<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>49</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est income on loans and r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>eceivables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 260.496px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,202<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>436</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.98px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value adjustment <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansferred fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om equity hedg<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e reserve (loss)<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 157.412px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>33</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>est e<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>xpenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 352.547px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-410<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>363</span><span style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate gains on bank balances, borr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owings and working capital<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>335<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>596</span><span style="position: absolute; display: inline-block; left: 0px; top: 128.92px; width: 556.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate losses on bank balances, borr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owings and working capital<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>522<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>586</span><span style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 556.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>eign ex<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>change gains/losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 292.102px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-187<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>10</span><span style="position: absolute; display: inline-block; left: 0px; top: 173.607px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value gains fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om derivatives<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 309.943px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>200<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>54</span><span style="position: absolute; display: inline-block; left: 0px; top: 188.498px; width: 556.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value losses from<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> derivatives<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 312.117px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>56<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>319</span><span style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 557.238px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> v<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>alue gains/losses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 333.785px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>144<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-265</span><span style="position: absolute; display: inline-block; left: 160.516px; top: 233.07px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 0px; top: 233.17px; width: 160.646px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Dividends received fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>om securities</span><span style="position: absolute; display: inline-block; left: 473.984px; top: 233.186px; width: 85.4355px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 248.076px; width: 559.395px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gains on payable c<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ontingent consider<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 268.424px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>66<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 262.967px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Impairment losses on financial as<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>sets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 298.195px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13</span><span style="position: absolute; display: inline-block; left: 0px; top: 277.857px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Reversal of impairment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> losses on financial assets <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 242.473px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2</span><span style="position: absolute; display: inline-block; left: 0px; top: 292.748px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial expenses, net<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 344.49px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-428<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>629</span><span style="position: absolute; display: inline-block; left: 0px; top: 322.84px; width: 40.6699px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Of<span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> which:</span><span style="position: absolute; display: inline-block; left: 0px; top: 337.42px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Financial income<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 372.685px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,804<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,088</span><span style="position: absolute; display: inline-block; left: 0px; top: 352.311px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Financial expenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 363.445px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,376<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,717</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Currency risk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _2"/>s curr<span class="_ _2"/>ency risk rela<span class="_ _2"/>tes to <span class="_ _2"/>the fact<span class="_ _2"/> that<span class="_ _2"/> while income from<span class="_ _2"/> Ocean activities is denominated mainly<span class="_ _2"/> in USD<span class="_ _2"/>, <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">relat<span class="_ _2"/>ed expenses are incurr<span class="_ _2"/>ed in both USD and a <span class="_ _2"/>wide range of other<span class="_ _0"/> currencies such as EUR, DKK,<span class="_ _2"/> CNY<span class="_ _0"/>, HKD and SGD<span class="_ _2"/>.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">As the net<span class="_ _2"/> income is in USD,<span class="_ _2"/> this is also <span class="_ _2"/>the primary financing curr<span class="_ _2"/>ency<span class="_ _2"/>.<span class="_ _2"/> Income and expenses from<span class="_ _2"/> other activities ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mainly denomina<span class="_ _2"/>ted in local currencies<span class="_ _2"/>, <span class="_ _2"/>thus reducing <span class="_ _2"/>the Group’<span class="_ _2"/>s exposur<span class="_ _2"/>e to <span class="_ _2"/>these currencies<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _2"/>s sensitivity <span class="_ _2"/>to an incr<span class="_ _2"/>ease in the USD<span class="_ _2"/> exchange r<span class="_ _2"/>ate of 10% against<span class="_ _2"/> all other<span class="_ _2"/> significant curr<span class="_ _2"/>encies t<span class="_ _2"/>o which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the Group is exposed is estimat<span class="_ _2"/>ed to ha<span class="_ _2"/>ve the fol<span class="_ _2"/>lowing impact.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The sensitivities are based onl<span class="_ _2"/>y on <span class="_ _2"/>the impact of financial instruments <span class="_ _2"/>that ar<span class="_ _2"/>e outstanding at <span class="_ _2"/>the balance sheet dat<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and are <span class="_ _2"/>thus not an expr<span class="_ _2"/>ession of <span class="_ _2"/>the Group’<span class="_ _2"/>s t<span class="_ _2"/>otal currency risk.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:119.375px;"><span style="position: absolute; display: inline-block; left: 297.156px; top: 0.0136718px; width: 231.996px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Profit<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> before tax<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 74.0509px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Equity befor<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e tax</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.77px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Currency<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sensitivity for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> financial instruments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 91.4707px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 19.2344px; top: 49.2109px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 19.377px; top: 49.3574px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 19.377px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">EUR</span><span style="position: absolute; display: inline-block; left: 314.641px; top: 49.3418px; width: 242.508px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">41<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>167<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-50<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>99</span><span style="position: absolute; display: inline-block; left: 0px; top: 64.2324px; width: 556.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">CNY<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 295.342px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>31<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>34<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>27</span><span style="position: absolute; display: inline-block; left: 0px; top: 79.123px; width: 557.262px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">DKK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 301.57px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-221<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-17<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-249</span><span style="position: absolute; display: inline-block; left: 0px; top: 94.0137px; width: 556.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 283.541px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-45<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-133<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-145<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-224</span><span style="position: absolute; display: inline-block; left: 0px; top: 108.889px; width: 556.898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 289.635px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>36<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> -153 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-204<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> -347</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>EUR sensitivity has been r<span class="_ _2"/>estated for<span class="_ _2"/> 2022 from USD<span class="_ _2"/> 30m/USD -38m t<span class="_ _2"/>o USD 167m/USD<span class="_ _2"/> 99m for<span class="_ _2"/> profit<span class="_ _2"/> before <span class="_ _2"/>tax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and equity befor<span class="_ _2"/>e tax,<span class="_ _2"/> respectivel<span class="_ _2"/>y<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Pension obligations<span class="ff3"> are <span class="_ _2"/>the net liabilities of defined benefit </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">obligations and the dedica<span class="_ _2"/>ted assets adjusted for<span class="_ _0"/> the <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">effect o<span class="_ _2"/>f minimum funding and asset ceiling r<span class="_ _2"/>equire<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments.<span class="_ _2"/> Plans with a funding surplus ar<span class="_ _2"/>e present<span class="_ _2"/>ed as net </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets on the balance sheet.<span class="_ _2"/> <span class="_ _2"/>The defined benefit obliga-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tions are measur<span class="_ _2"/>ed at <span class="_ _2"/>the present<span class="_ _2"/> v<span class="_ _2"/>alue of expected </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">future paymen<span class="_ _2"/>ts to be made in r<span class="_ _2"/>espect of services pr<span class="_ _2"/>o-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vided by emplo<span class="_ _2"/>yees up to <span class="_ _2"/>the balance sheet dat<span class="_ _2"/>e.<span class="_ _2"/> Plan </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">assets are measur<span class="_ _2"/>ed at f<span class="_ _2"/>air <span class="_ _2"/>value<span class="_ _2"/>. <span class="_ _2"/>The pension cost<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">charged <span class="_ _2"/>to the income sta<span class="_ _2"/>tement consists o<span class="_ _2"/>f calculated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amounts for<span class="_ _2"/> v<span class="_ _2"/>ested benefits and inter<span class="_ _2"/>est in addition <span class="_ _2"/>to </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">settlement of g<span class="_ _2"/>ains or losses<span class="_ _2"/>, et<span class="_ _2"/>c. Int<span class="_ _2"/>erest on<span class="_ _2"/> plan assets </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is calculated at<span class="_ _2"/> the same r<span class="_ _2"/>ates as used for<span class="_ _0"/> discounting the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">obliga <span class="_ _4"/>tions. <span class="_ _2"/>Actuarial gains/losses ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised in other<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comprehensive inc<span class="_ _2"/>ome. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Pensi<span class="_ _1"/>on p<span class="_ _1"/>lans<span class="_ _1"/> whe<span class="_ _1"/>re A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler - Maersk,<span class="_ _2"/> as part<span class="_ _2"/> of col-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lective barg<span class="_ _2"/>aining agreements,<span class="_ _2"/> participates <span class="_ _2"/>together<span class="_ _0"/> with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">other<span class="_ _2"/> enterprises – so called mul<span class="_ _2"/>ti-employer<span class="_ _2"/> plans – are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">treat<span class="_ _2"/>ed as other pension<span class="_ _2"/> plans in the financial stat<span class="_ _2"/>ements. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Defined benefit mul<span class="_ _2"/>ti-employer<span class="_ _2"/> plans,<span class="_ _2"/> where sufficien<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">information <span class="_ _2"/>to apply<span class="_ _2"/> defined benefit accoun<span class="_ _2"/>ting is not </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">available<span class="_ _2"/>, ar<span class="_ _2"/>e tr<span class="_ _2"/>eated as defined contribution plans<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 4.5 <span class="_"> </span>Financial instrumen<span class="_ _2"/>ts and risks</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:243.640625px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 557.08px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">The gain/losses of the deriv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>atives ar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e recognised as f<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ollows:<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 172.723px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 557.098px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Hedging foreign<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> exchange risk on r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>evenue<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 273.363px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-7</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 556.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Hedging foreign<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> exchange risk on oper<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ating costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 236.525px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>41<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-127</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.811px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Hedging interest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate risk<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 344.49px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-33</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Hedging foreign<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> exchange risk on <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>the cost of non-curr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ent assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 173.197px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-30</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 557.232px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal effective hedging<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 355.611px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-197</span><span style="position: absolute; display: inline-block; left: 0px; top: 99.1387px; width: 557.016px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Ineffectiveness r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ecognised in financial expenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.148px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>16</span><span style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 557.18px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal reclassified from equity r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>eserve for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> hedges<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 233.578px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-181</span><span style="position: absolute; display: inline-block; left: 0px; top: 144.121px; width: 200.104px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Derivatives accounted for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> as held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> trading:</span><span style="position: absolute; display: inline-block; left: 0px; top: 158.701px; width: 557.338px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Currency<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> derivatives r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ecognised dir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ectly in<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> financial income/<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>expenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 136.928px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>154<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-276</span><span style="position: absolute; display: inline-block; left: 0px; top: 173.592px; width: 557.203px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate deriva<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tives reco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised directly<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> in financial income/<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>expenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 127.16px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>44<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-196</span><span style="position: absolute; display: inline-block; left: 0px; top: 188.482px; width: 557.402px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Oil prices and freight<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> ra<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>te derivatives r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ecognised dir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ectly<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> in other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> income/<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 95.3906px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-23<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-150</span><span style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 557.402px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net gains/losses r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ecognised directl<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>y in <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>the income statement<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 167.408px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>175<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-622</span><span style="position: absolute; display: inline-block; left: 0px; top: 233.154px; width: 557.021px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 436.207px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>190<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-803</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _2"/>s deriva<span class="_ _2"/>tives are pr<span class="_ _2"/>esented at<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue in the balance sheet.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _2"/>s activities expose it<span class="_ _2"/> to a <span class="_ _2"/>variety<span class="_ _2"/> of financial risks:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span>Market<span class="_ _2"/> risks,<span class="_ _2"/> i.e.,<span class="_ _2"/> currency<span class="_ _2"/> risk, in<span class="_ _2"/>terest<span class="_ _2"/> ra<span class="_ _2"/>te risk and oil price risk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span>Credit<span class="_ _2"/> risk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span>Liquidity risk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _2"/>s over<span class="_ _2"/>all risk manag<span class="_ _2"/>ement pr<span class="_ _2"/>ogr<span class="_ _2"/>amme focuses on the unpr<span class="_ _2"/>edictability of financial mark<span class="_ _2"/>ets and seeks t<span class="_ _2"/>o </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">minimise the poten<span class="_ _2"/>tial adverse effects on <span class="_ _2"/>the Group’<span class="_ _2"/>s financial performance<span class="_ _2"/>. <span class="_ _2"/>The Group uses deriv<span class="_ _2"/>ative financial <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inst<span class="_ _1"/>ruments to hedge certain risk e<span class="_ _2"/>xposures.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Risk management is carried out<span class="_ _2"/> by a<span class="_ _2"/> centr<span class="_ _2"/>al finance department under<span class="_ _2"/> policies appr<span class="_ _2"/>oved by <span class="_ _2"/>the Board of Dir<span class="_ _2"/>ectors.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The finance department identifies<span class="_ _2"/>, e<span class="_ _2"/>valuates and hedges financial risk<span class="_ _2"/>s in close coopera<span class="_ _2"/>tion with the Gr<span class="_ _2"/>oup’<span class="_ _2"/>s entities.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span><span><span style="display:inherit;clear:left;">Mark<span class="_ _2"/>et risk is the risk <span class="_ _2"/>that chang<span class="_ _2"/>es in market<span class="_ _2"/> prices,<span class="_ _2"/> such as for<span class="_ _2"/>eign exchange r<span class="_ _2"/>ates and int<span class="_ _2"/>erest r<span class="_ _2"/>at<span class="_ _2"/>es, <span class="_ _2"/>will affect<span class="_ _2"/> </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the Group’<span class="_ _2"/>s pr<span class="_ _2"/>ofit or<span class="_ _2"/> the <span class="_ _2"/>value of its holdings of financial instruments<span class="_ _2"/>. <span class="_ _2"/>The sensitivity anal<span class="_ _2"/>yses in the curr<span class="_ _2"/>ency risk and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inter<span class="_ _2"/>est r<span class="_ _2"/>ate risk sections rela<span class="_ _2"/>te t<span class="_ _2"/>o the position of financial instruments at<span class="_ _2"/> 31 December<span class="_ _2"/> 2023.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The sensitivity analy<span class="_ _2"/>ses for<span class="_ _2"/> currency<span class="_ _2"/> risk and inter<span class="_ _2"/>est r<span class="_ _2"/>ate risk have been<span class="_ _2"/> prepared on<span class="_ _2"/> the basis <span class="_ _2"/>that <span class="_ _2"/>the amount of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">net debt,<span class="_ _2"/> the r<span class="_ _2"/>atio of fixed <span class="_ _2"/>to floating inter<span class="_ _2"/>est r<span class="_ _2"/>ates of <span class="_ _2"/>the debt and <span class="_ _2"/>the proportion of financial instrumen<span class="_ _2"/>ts in foreign<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currencies r<span class="_ _2"/>emain unchanged from<span class="_ _2"/> hedge designations in place at<span class="_ _2"/> 31 December<span class="_ _2"/> 2023.<span class="_ _2"/> Furthermor<span class="_ _2"/>e,<span class="_ _2"/> it is assumed tha<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the exchange r<span class="_ _2"/>ate and int<span class="_ _2"/>erest r<span class="_ _2"/>at<span class="_ _2"/>e sensitivities have a symmetric impact,<span class="_ _2"/> i.e.<span class="_ _2"/> an incr<span class="_ _2"/>ease in ra<span class="_ _2"/>tes resul<span class="_ _2"/>ts in the same ab-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">solute movement<span class="_ _2"/> as a decrease in<span class="_ _2"/> rat<span class="_ _2"/>es.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The sensitivity analy<span class="_ _2"/>ses show the effect<span class="_ _2"/> on pr<span class="_ _2"/>ofit and equity o<span class="_ _2"/>f a reasonably<span class="_ _2"/> possible change in ex<span class="_ _2"/>change ra<span class="_ _2"/>tes and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inter<span class="_ _2"/>est r<span class="_ _2"/>ates.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Hedges comprise primarily<span class="_ _2"/> currency<span class="_ _2"/> derivativ<span class="_ _2"/>es and interest<span class="_ _2"/> ra<span class="_ _2"/>te derivatives<span class="_ _2"/>, <span class="_ _2"/>which are further<span class="_ _2"/> described in <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">following sections.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Currency risk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _2"/>s curr<span class="_ _2"/>ency risk rela<span class="_ _2"/>tes to <span class="_ _2"/>the fact<span class="_ _2"/> that<span class="_ _2"/> while income from<span class="_ _2"/> Ocean activities is denominated mainly<span class="_ _2"/> in USD<span class="_ _2"/>, <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">relat<span class="_ _2"/>ed expenses are incurr<span class="_ _2"/>ed in both USD and a <span class="_ _2"/>wide range of other<span class="_ _0"/> currencies such as EUR, DKK,<span class="_ _2"/> CNY<span class="_ _0"/>, HKD and SGD<span class="_ _2"/>.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">As the net<span class="_ _2"/> income is in USD,<span class="_ _2"/> this is also <span class="_ _2"/>the primary financing curr<span class="_ _2"/>ency<span class="_ _2"/>.<span class="_ _2"/> Income and expenses from<span class="_ _2"/> other activities ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mainly denomina<span class="_ _2"/>ted in local currencies<span class="_ _2"/>, <span class="_ _2"/>thus reducing <span class="_ _2"/>the Group’<span class="_ _2"/>s exposur<span class="_ _2"/>e to <span class="_ _2"/>these currencies<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The main purpose of hedging the Gr<span class="_ _2"/>oup’<span class="_ _2"/>s currency<span class="_ _2"/> risk is to hedge <span class="_ _2"/>the USD <span class="_ _2"/>value of the Gr<span class="_ _2"/>oup’<span class="_ _2"/>s net cash flow and<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reduce fluctuations in<span class="_ _2"/> the Group<span class="_ _2"/>’s pr<span class="_ _2"/>ofit.<span class="_ _2"/> The Gr<span class="_ _2"/>oup uses various financial deriv<span class="_ _2"/>atives,<span class="_ _2"/> including forw<span class="_ _2"/>ards,<span class="_ _2"/> option <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contr<span class="_ _2"/>acts and cross-curr<span class="_ _2"/>ency swaps<span class="_ _2"/>, <span class="_ _2"/>to hedge <span class="_ _2"/>these risks.<span class="_ _2"/> The k<span class="_ _2"/>ey aspects of <span class="_ _2"/>the currency<span class="_ _2"/> hedging policy ar<span class="_ _2"/>e:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span> <span class="_ _4"/>Net cash flows in significant<span class="_ _2"/> currencies other<span class="_ _2"/> than<span class="_ _2"/> USD are hedg<span class="_ _2"/>ed using a layer<span class="_ _2"/>ed model </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with a 12-month horiz<span class="_ _2"/>on</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span> <span class="_ _4"/>Significant capital commitments or<span class="_ _2"/> divestments in curr<span class="_ _2"/>encies other<span class="_ _2"/> than USD<span class="_ _2"/> are hedged</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span> <span class="_ _4"/>Most non-USD debt is hedged,<span class="_ _2"/> howe<span class="_ _2"/>ver<span class="_ _0"/>, depending on the asset<span class="_ _0"/>-liability match and the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currency<span class="_ _2"/> of the gener<span class="_ _2"/>ated cash flo<span class="_ _2"/>w.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Currency<span class="_ _2"/> derivatives hedge futur<span class="_ _2"/>e re<span class="_ _2"/>venue,<span class="_ _2"/> operating c<span class="_ _2"/>osts and investments/<span class="_ _2"/>divestments<span class="_ _2"/>, and ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised on an </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ongoing basis in the inc<span class="_ _2"/>ome statement and <span class="_ _2"/>the cost of pr<span class="_ _2"/>operty<span class="_ _2"/>,<span class="_ _2"/> plant and equipmen<span class="_ _2"/>t, r<span class="_ _2"/>espectively<span class="_ _0"/>. Ther<span class="_ _2"/>e is not an<span class="_ _2"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">proxy<span class="_ _2"/> hedging for<span class="_ _2"/> the curr<span class="_ _2"/>ency risk hedging,<span class="_ _2"/> and ther<span class="_ _2"/>efor<span class="_ _2"/>e the economic r<span class="_ _2"/>elationship between the hedged e<span class="_ _2"/>xposure and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the hedge is high. E<span class="_ _2"/>ffectiveness is assessed using <span class="_ _2"/>the critical terms mat<span class="_ _2"/>ch approach accor<span class="_ _2"/>ding t<span class="_ _2"/>o IFRS 9.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Hedges of future r<span class="_ _2"/>evenue and oper<span class="_ _2"/>ating costs matur<span class="_ _2"/>es within a <span class="_ _2"/>year<span class="_ _2"/> (matures <span class="_ _2"/>within a year).<span class="_ _2"/> <span class="_ _2"/>There ar<span class="_ _2"/>e no hedges of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">investments at<span class="_ _2"/> the end of 2023 (matur<span class="_ _2"/>es within one <span class="_ _2"/>year).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>For<span class="_ _2"/> hedges relat<span class="_ _2"/>ed to oper<span class="_ _2"/>ating and investmen<span class="_ _2"/>t cash flows<span class="_ _2"/>, a loss o<span class="_ _2"/>f USD 8m in 2023 (gain of USD<span class="_ _2"/> 94m) is recognised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in other<span class="_ _2"/> comprehensive inc<span class="_ _2"/>ome, and <span class="_ _2"/>the cash flow hedge r<span class="_ _2"/>eserve amounts t<span class="_ _2"/>o a gain of USD 43m<span class="_ _2"/> at 31 December<span class="_ _0"/> <span class="_ _1"/><span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(gain of USD 51m).<span class="_ _2"/> For<span class="_ _2"/> hedges wher<span class="_ _2"/>e the cost<span class="_ _2"/> of hedging is applied, <span class="_ _2"/>the forwar<span class="_ _2"/>d points are r<span class="_ _2"/>ecognised in other<span class="_ _0"/> com<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prehen<span class="_ _1"/>sive income and tr<span class="_ _2"/>ansferr<span class="_ _2"/>ed with <span class="_ _2"/>the effective hedge when<span class="_ _2"/> the hedged <span class="_ _2"/>transaction oc<span class="_ _2"/>curs. <span class="_ _2"/>The cost<span class="_ _2"/> of hedging </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reserve amoun<span class="_ _2"/>ts to USD 0m<span class="_ _2"/> (USD 0m). <span class="_ _2"/>Ther<span class="_ _2"/>e was no ineffectiv<span class="_ _2"/>eness in 2023 (no ineffectiveness).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Besides the designa<span class="_ _2"/>ted cash flow hedges in <span class="_ _2"/>the table,<span class="_ _2"/> the Gr<span class="_ _2"/>oup uses derivativ<span class="_ _2"/>es to hedge curr<span class="_ _2"/>ency e<span class="_ _2"/>xposures tha<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">do not qualify<span class="_ _2"/> for<span class="_ _2"/> hedge accounting.<span class="_ _2"/> These deriv<span class="_ _2"/>atives ar<span class="_ _2"/>e classified as fair<span class="_ _2"/> v<span class="_ _2"/>alue thr<span class="_ _2"/>ough profit<span class="_ _2"/> or los<span class="_ _2"/>s. <span class="_ _2"/>The aver<span class="_ _2"/>age<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">FX hedge r<span class="_ _2"/>ates for<span class="_ _2"/> swaps in<span class="_ _2"/> cash flow hedge wer<span class="_ _2"/>e EUR/USD 1.<span class="_ _0"/>18 (1.<span class="_ _0"/>18) and GBP/USD 1.52 (1.52).<span class="_ _2"/> The a<span class="_ _2"/>verag<span class="_ _2"/>e FX hedge </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _2"/>tes for<span class="_ _2"/> swaps in c<span class="_ _2"/>ombined fair<span class="_ _2"/> v<span class="_ _2"/>alue hedge were EUR/USD<span class="_ _2"/> 1.24 (1.2<span class="_ _2"/>4), GBP<span class="_ _2"/>/USD 1.52 (1.52),<span class="_ _2"/> USD/NOK 8<span class="_ _2"/>.25 (8.25) and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD/<span class="_ _0"/>JPY<span class="_ _2"/> 119.39 (119<span class="_ _2"/>.39).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:94.734375px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 556.957px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Derivatives r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ecognised at<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> v<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>alue in the balance sheet<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 185.982px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 557.15px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 346.342px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 556.945px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 362.004px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>137<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>198</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 557.314px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 349.951px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>323<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>495</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.934px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 378.795px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>72<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>77</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 556.764px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Liabilities, net<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 383.467px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>247<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>364</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:282.546875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 192.545px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Hedge of oper<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ating and investment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> cash </span><span style="position: absolute; display: inline-block; left: 254px; top: 0.0136718px; width: 50.4785px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value, <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 339.031px; top: 0.0136718px; width: 50.4785px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value, <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 432.406px; top: 0.0136718px; width: 42.0059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Nominal </span><span style="position: absolute; display: inline-block; left: 519.109px; top: 0.0136718px; width: 39.7383px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">A<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ver<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>age <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 124.312px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">flows in for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>eign currencies</span><span style="position: absolute; display: inline-block; left: 277.219px; top: 12.0137px; width: 24.8965px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">asset</span><span style="position: absolute; display: inline-block; left: 351.719px; top: 12.0137px; width: 34.6758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">liability</span><span style="position: absolute; display: inline-block; left: 422.719px; top: 12.0137px; width: 51.8379px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">amount of <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 506.75px; top: 12.0137px; width: 50.3496px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">hedge r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate</span><span style="position: absolute; display: inline-block; left: 425.922px; top: 24.0137px; width: 46.3711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">derivative</span><span style="position: absolute; display: inline-block; left: 0px; top: 48.9961px; width: 105.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Main currencies hedged</span><span style="position: absolute; display: inline-block; left: 0px; top: 63.5762px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023</span><span style="position: absolute; display: inline-block; left: 0px; top: 78.4668px; width: 556.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">EUR<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 269.865px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.1935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.9511px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,017<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.2304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>EUR/USD 1.10</span><span style="position: absolute; display: inline-block; left: 0px; top: 93.3574px; width: 556.992px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">DKK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.141px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.1935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>286<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.2304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD/DKK 6.76</span><span style="position: absolute; display: inline-block; left: 0px; top: 107.498px; width: 557.385px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">CNY<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.141px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>249<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 17.6777px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD/<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>CNY 7.04</span><span style="position: absolute; display: inline-block; left: 0px; top: 123.139px; width: 557.098px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">HKD<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 277.143px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.5545px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>193<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 15.1641px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD/HKD 7.78</span><span style="position: absolute; display: inline-block; left: 0px; top: 138.029px; width: 556.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> currencies<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 211.699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>33<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.1935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.9511px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,119<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0.3885px; letter-spacing: -0.3885px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">N<span style="word-spacing: 0.3885px; letter-spacing: -0.3885px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>/A</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 152.92px; width: 386.801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 261.732px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>55<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>12</span><span style="position: absolute; display: inline-block; left: 0px; top: 182.717px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 197.592px; width: 557.139px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">EUR<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 269.865px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>24<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.1935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>749<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.2304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>EUR/USD 1.05</span><span style="position: absolute; display: inline-block; left: 0px; top: 212.482px; width: 557.162px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">DKK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 269.865px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.1935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>312<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.2304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD/DKK 7.08</span><span style="position: absolute; display: inline-block; left: 0px; top: 226.639px; width: 557.227px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">CNY<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.141px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>82<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 17.0567px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD/CNY<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> 7.01</span><span style="position: absolute; display: inline-block; left: 0px; top: 242.279px; width: 557.098px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">HKD<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 275.022px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.5545px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>210<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 15.1641px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD/HKD 7.81</span><span style="position: absolute; display: inline-block; left: 0px; top: 257.17px; width: 556.875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> currencies<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 211.699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>32<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>974<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0.3885px; letter-spacing: -0.3885px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">N<span style="word-spacing: 0.3885px; letter-spacing: -0.3885px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>/A</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 272.061px; width: 386.801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 261.732px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>74<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>23</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:74.734375px;"><span style="position: absolute; display: inline-block; left: 466.672px; top: 0.0136718px; width: 44.4668px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> hedges reco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value thr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ough profit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> and loss<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.303px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 556.775px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Currency<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> derivatives<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 372.685px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>43<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>86</span><span style="position: absolute; display: inline-block; left: 0px; top: 64.248px; width: 556.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 440.284px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>43<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>86</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _2"/>s sensitivity <span class="_ _2"/>to an incr<span class="_ _2"/>ease in the USD<span class="_ _2"/> exchange r<span class="_ _2"/>ate of 10% against<span class="_ _2"/> all other<span class="_ _2"/> significant curr<span class="_ _2"/>encies t<span class="_ _2"/>o which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the Group is exposed is estimat<span class="_ _2"/>ed to ha<span class="_ _2"/>ve the fol<span class="_ _2"/>lowing impact.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The sensitivities are based onl<span class="_ _2"/>y on <span class="_ _2"/>the impact of financial instruments <span class="_ _2"/>that ar<span class="_ _2"/>e outstanding at <span class="_ _2"/>the balance sheet dat<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and are <span class="_ _2"/>thus not an expr<span class="_ _2"/>ession of <span class="_ _2"/>the Group’<span class="_ _2"/>s t<span class="_ _2"/>otal currency risk.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:119.375px;"><span style="position: absolute; display: inline-block; left: 297.156px; top: 0.0136718px; width: 231.996px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Profit<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> before tax<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 74.0509px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Equity befor<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e tax</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.77px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Currency<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sensitivity for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> financial instruments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 91.4707px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 19.2344px; top: 49.2109px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 19.377px; top: 49.3574px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 19.377px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">EUR</span><span style="position: absolute; display: inline-block; left: 314.641px; top: 49.3418px; width: 242.508px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">41<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>167<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-50<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>99</span><span style="position: absolute; display: inline-block; left: 0px; top: 64.2324px; width: 556.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">CNY<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 295.342px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>31<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>34<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>27</span><span style="position: absolute; display: inline-block; left: 0px; top: 79.123px; width: 557.262px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">DKK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 301.57px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-221<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-17<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-249</span><span style="position: absolute; display: inline-block; left: 0px; top: 94.0137px; width: 556.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 283.541px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-45<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-133<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-145<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-224</span><span style="position: absolute; display: inline-block; left: 0px; top: 108.889px; width: 556.898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 289.635px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>36<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> -153 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-204<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> -347</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>EUR sensitivity has been r<span class="_ _2"/>estated for<span class="_ _2"/> 2022 from USD<span class="_ _2"/> 30m/USD -38m t<span class="_ _2"/>o USD 167m/USD<span class="_ _2"/> 99m for<span class="_ _2"/> profit<span class="_ _2"/> before <span class="_ _2"/>tax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and equity befor<span class="_ _2"/>e tax,<span class="_ _2"/> respectivel<span class="_ _2"/>y<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:654.96875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 81.0762px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Interest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> rat<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>e risk</span><span style="position: absolute; display: inline-block; left: 301.75px; top: 24.6855px; width: 40.9746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Maturity</span><span style="position: absolute; display: inline-block; left: 97.6875px; top: 49.373px; width: 19.3828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 152.875px; top: 49.373px; width: 19.3828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 185.922px; top: 49.373px; width: 42.0059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Nominal </span><span style="position: absolute; display: inline-block; left: 241.109px; top: 49.373px; width: 207.914px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">0-1 year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 10.1953px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2-5 years<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.6817px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5- years<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 11.5196px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gain/loss <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span></span><span style="position: absolute; display: inline-block; left: 456.969px; top: 49.373px; width: 46.2715px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gain/loss <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 519.109px; top: 49.3887px; width: 39.7383px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">A<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ver<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>age <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 86.4062px; top: 61.373px; width: 30.8789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">value, <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 141.812px; top: 61.373px; width: 30.8789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">value, <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 188.594px; top: 61.373px; width: 39.4512px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">amount </span><span style="position: absolute; display: inline-block; left: 434.797px; top: 61.373px; width: 14.3555px; white-space: pre; word-spacing: 0.0735px; letter-spacing: -0.0735px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">on </span><span style="position: absolute; display: inline-block; left: 489.859px; top: 61.373px; width: 14.0801px; white-space: pre; word-spacing: 0.0735px; letter-spacing: -0.0735px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">on <span style="word-spacing: 0.0735px; letter-spacing: -0.0735px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 527.25px; top: 61.3887px; width: 31.207px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">hedge <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 73.373px; width: 60.6914px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate </span><span style="position: absolute; display: inline-block; left: 90.6562px; top: 73.373px; width: 24.8965px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">asset</span><span style="position: absolute; display: inline-block; left: 136.062px; top: 73.373px; width: 34.6758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">liability</span><span style="position: absolute; display: inline-block; left: 215.281px; top: 73.373px; width: 12.3457px; white-space: pre; word-spacing: 0.021px; letter-spacing: -0.021px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">of <span style="word-spacing: 0.021px; letter-spacing: -0.021px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 410.969px; top: 73.373px; width: 37.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">hedged </span><span style="position: absolute; display: inline-block; left: 463.266px; top: 73.373px; width: 40.3008px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">hedging </span><span style="position: absolute; display: inline-block; left: 537.516px; top: 73.3887px; width: 18.416px; white-space: pre; word-spacing: 0.3255px; letter-spacing: -0.3255px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">rat<span style="word-spacing: 0.3255px; letter-spacing: -0.3255px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e</span><span style="position: absolute; display: inline-block; left: 0px; top: 85.373px; width: 52.9629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">hedging of </span><span style="position: absolute; display: inline-block; left: 179.828px; top: 85.373px; width: 46.3711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">derivative</span><span style="position: absolute; display: inline-block; left: 424.391px; top: 85.373px; width: 21.498px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">item</span><span style="position: absolute; display: inline-block; left: 469.422px; top: 85.373px; width: 31.9336px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">instru-</span><span style="position: absolute; display: inline-block; left: 0px; top: 97.373px; width: 53.209px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">borrowings</span><span style="position: absolute; display: inline-block; left: 476.516px; top: 97.373px; width: 24.9727px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">ment</span><span style="position: absolute; display: inline-block; left: 0px; top: 123.215px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">2023</span><span style="position: absolute; display: inline-block; left: 0px; top: 137.262px; width: 92.959px; white-space: pre; word-spacing: -0.4305px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Combined fair<span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value <span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 149.262px; width: 74.8594px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">hedge, hedge of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 161.262px; width: 49.8164px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">borrowings</span><span style="position: absolute; display: inline-block; left: 0px; top: 174.982px; width: 556.641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">EUR<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>90<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>503<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>415<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>88<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7949px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-32<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7.3%</span><span style="position: absolute; display: inline-block; left: 0px; top: 189.029px; width: 556.758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">GBP<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>24<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>89<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>89<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 49.4648px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.8848px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7.9%</span><span style="position: absolute; display: inline-block; left: 0px; top: 203.061px; width: 556.816px; white-space: pre; word-spacing: 0.1365px; letter-spacing: -0.1365px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">JPY<span style="word-spacing: 0.1365px; letter-spacing: -0.1365px; display: inline-block; margin-left: 0px; width: 93.7852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>88<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>88<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.8848px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7.2%</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 217.107px; width: 556.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">NOK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.2108px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>68<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>216<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>216<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.5998px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-18<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7.9%</span><span style="position: absolute; display: inline-block; left: 0px; top: 240.59px; width: 79.793px; white-space: pre; word-spacing: -0.4305px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value hedge, <span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 252.59px; width: 90.0938px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">hedge of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> borrowings</span><span style="position: absolute; display: inline-block; left: 0px; top: 266.311px; width: 556.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">USD<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 82.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>44<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>850<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>200<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>650<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>32<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-33<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7.7%</span><span style="position: absolute; display: inline-block; left: 0px; top: 289.793px; width: 79.9805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Cash flow hedge, </span><span style="position: absolute; display: inline-block; left: 0px; top: 301.793px; width: 90.0938px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">hedge of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> borrowings</span><span style="position: absolute; display: inline-block; left: 0px; top: 315.529px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">EUR<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>88<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>967<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>414<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>553<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-29<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3.2%</span><span style="position: absolute; display: inline-block; left: 0px; top: 329.561px; width: 556.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">GBP<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>33<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>162<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>162<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4.6%</span><span style="position: absolute; display: inline-block; left: 0px; top: 343.607px; width: 556.963px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">USD<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 88.7873px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>64<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>30<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>34<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 49.4648px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.8848px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2.6%</span><span style="position: absolute; display: inline-block; left: 0px; top: 358.498px; width: 501.586px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 76.8574px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>364<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.3262px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,939<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.3262px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,614<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.3262px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,325<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7949px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>61<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.6758px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-119</span><span style="position: absolute; display: inline-block; left: 0px; top: 381.98px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 396.012px; width: 92.959px; white-space: pre; word-spacing: -0.4305px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Combined fair<span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value <span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 408.012px; width: 74.8594px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">hedge, hedge of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 420.027px; width: 49.8164px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">borrowings</span><span style="position: absolute; display: inline-block; left: 0px; top: 433.748px; width: 556.764px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">EUR<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>127<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>486<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>401<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7949px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>85<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>35<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.5998px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-54<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6.2%</span><span style="position: absolute; display: inline-block; left: 0px; top: 447.779px; width: 556.846px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">GBP<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>29<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>84<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>84<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-7<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6.8%</span><span style="position: absolute; display: inline-block; left: 0px; top: 461.826px; width: 556.74px; white-space: pre; word-spacing: 0.1365px; letter-spacing: -0.1365px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">JPY<span style="word-spacing: 0.1365px; letter-spacing: -0.1365px; display: inline-block; margin-left: 0px; width: 93.7852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>95<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>95<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7949px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6.1%</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 475.857px; width: 556.799px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">NOK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.2108px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>64<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>223<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>223<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-22<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6.8%</span><span style="position: absolute; display: inline-block; left: 0px; top: 499.34px; width: 79.793px; white-space: pre; word-spacing: -0.4305px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value hedge, <span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 511.355px; width: 90.0938px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">hedge of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> borrowings</span><span style="position: absolute; display: inline-block; left: 0px; top: 525.076px; width: 556.605px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">USD<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>73<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>900<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.2107px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>500<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>400<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>75<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-73<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6.7%</span><span style="position: absolute; display: inline-block; left: 0px; top: 548.559px; width: 79.9805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Cash flow hedge, </span><span style="position: absolute; display: inline-block; left: 0px; top: 560.559px; width: 90.0938px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">hedge of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> borrowings</span><span style="position: absolute; display: inline-block; left: 0px; top: 574.295px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">EUR<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>145<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>934<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.2107px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>400<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>534<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.2107px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-56<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.8848px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3.2%</span><span style="position: absolute; display: inline-block; left: 0px; top: 588.326px; width: 556.869px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">GBP<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>77<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>277<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.2107px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>277<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.2107px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7949px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4.6%</span><span style="position: absolute; display: inline-block; left: 0px; top: 602.373px; width: 556.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">NOK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.2108px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>26<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>26<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.2107px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3.3%</span><span style="position: absolute; display: inline-block; left: 0px; top: 616.404px; width: 556.986px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">SEK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 92.5252px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>61<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>61<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 28.5879px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1.7%</span><span style="position: absolute; display: inline-block; left: 0px; top: 630.451px; width: 556.617px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">USD<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 82.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.2107px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>391<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>150<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>200<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>41<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.2107px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2.7%</span><span style="position: absolute; display: inline-block; left: 0px; top: 644.482px; width: 501.492px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 76.8574px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>543<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.3262px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,477<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>176<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.3262px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,241<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.3262px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,060<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>131<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-208</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group has most<span class="_ _2"/> of its debt denominated in<span class="_ _2"/> USD,<span class="_ _2"/> but part<span class="_ _2"/> of the debt<span class="_ _2"/> (e.g. issued bonds) is in<span class="_ _2"/> other<span class="_ _2"/> currencies such </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as EUR, GBP<span class="_ _a"/>, NOK and JP<span class="_ _2"/>Y<span class="_ _0"/>. <span class="_ _2"/>The Group strives <span class="_ _2"/>to maintain a<span class="_ _2"/> combination of fixed and floating int<span class="_ _2"/>erest r<span class="_ _0"/>ates on its net </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">debt, r<span class="_ _2"/>eflecting expectations and risks.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Inter<span class="_ _2"/>est r<span class="_ _2"/>ate risk is managed within a<span class="_ _2"/> range set<span class="_ _2"/> for<span class="_ _2"/> <span class="_ _2"/>the percentage of gr<span class="_ _2"/>oss debt carrying fix<span class="_ _2"/>ed interest,<span class="_ _2"/> net of hedging.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The level a<span class="_ _2"/>t 31 Decembe<span class="_ _2"/>r is<span class="_ _2"/> 41% (43%) excluding IFRS 16 Leases.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>A g<span class="_ _2"/>eneral incr<span class="_ _2"/>ease in inter<span class="_ _2"/>est r<span class="_ _2"/>ates by<span class="_ _2"/> 1 percen<span class="_ _2"/>tage point is estimat<span class="_ _2"/>ed, al<span class="_ _2"/>l else being equal, <span class="_ _2"/>to affect<span class="_ _2"/> profit<span class="_ _2"/> before <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax and equity<span class="_ _2"/>,<span class="_ _2"/> excluding tax eff<span class="_ _2"/>ect, positiv<span class="_ _2"/>ely by<span class="_ _2"/> appro<span class="_ _2"/>x. USD 134m<span class="_ _2"/> (positively<span class="_ _2"/> by USD 215m) and positiv<span class="_ _2"/>ely by<span class="_ _2"/> appro<span class="_ _2"/>x. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD 113m (positivel<span class="_ _2"/>y by<span class="_ _2"/> USD 199m),<span class="_ _2"/> respectivel<span class="_ _2"/>y<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>This analysis assumes <span class="_ _2"/>that al<span class="_ _2"/>l other <span class="_ _2"/>variables,<span class="_ _2"/> in particular<span class="_ _2"/> for<span class="_ _2"/>eign curr<span class="_ _2"/>ency r<span class="_ _2"/>ates,<span class="_ _2"/> remain<span class="_ _2"/> constant. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The hedging of the inter<span class="_ _2"/>est r<span class="_ _2"/>ate risk is done b<span class="_ _2"/>y cr<span class="_ _2"/>oss-currency s<span class="_ _2"/>waps and inter<span class="_ _2"/>est r<span class="_ _2"/>ate sw<span class="_ _2"/>aps. <span class="_ _2"/>The hedging is a mix of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _2"/> v<span class="_ _2"/>alue hedging, combined f<span class="_ _2"/>air<span class="_ _2"/> value hedging and cash flo<span class="_ _2"/>w hedging.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Combined fair<span class="_ _2"/> v<span class="_ _2"/>alue hedging is applied when cros<span class="_ _2"/>s-currency s<span class="_ _2"/>waps are ent<span class="_ _2"/>ered int<span class="_ _2"/>o to hedge <span class="_ _2"/>the risk of debt denom-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inated in curr<span class="_ _2"/>encies other<span class="_ _2"/> than USD<span class="_ _2"/>. E<span class="_ _2"/>ach hedge relationship is split<span class="_ _2"/> into a f<span class="_ _2"/>air<span class="_ _2"/> value hedg<span class="_ _2"/>e, <span class="_ _2"/>where <span class="_ _2"/>value changes fr<span class="_ _2"/>om </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market<span class="_ _2"/> ra<span class="_ _2"/>tes are r<span class="_ _2"/>ecognised dir<span class="_ _2"/>ectly in pr<span class="_ _2"/>ofit or<span class="_ _0"/> loss, and a cash flow hedg<span class="_ _2"/>e, <span class="_ _2"/>where <span class="_ _2"/>the value chang<span class="_ _2"/>es from <span class="_ _2"/>the exchange </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _2"/>te exposure of <span class="_ _2"/>the credit<span class="_ _2"/> margin ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised in other<span class="_ _2"/> comprehensive income<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Ineffectiveness fr<span class="_ _2"/>om cash flow hedges due <span class="_ _2"/>to buy<span class="_ _2"/>-back of issued bonds is reco<span class="_ _2"/>gnised in the income sta<span class="_ _2"/>tement <span class="_ _2"/>with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a cost of USD 1m<span class="_ _2"/> (USD 0m). </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The hedges are e<span class="_ _2"/>xpected to be highl<span class="_ _2"/>y effectiv<span class="_ _2"/>e due to <span class="_ _2"/>the nature of <span class="_ _2"/>the economic relationship betw<span class="_ _2"/>een the exposur<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the hedge<span class="_ _2"/>. <span class="_ _2"/>The source of ineff<span class="_ _2"/>ectiveness is the cr<span class="_ _2"/>edit risk of <span class="_ _2"/>the hedging instruments.<span class="_ _2"/> For<span class="_ _2"/> hedges wher<span class="_ _2"/>e the cost o<span class="_ _2"/>f </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">hedging is applied, <span class="_ _2"/>the change in basis spr<span class="_ _2"/>ead is recognised in<span class="_ _2"/> other compr<span class="_ _2"/>ehensive income and is a <span class="_ _2"/>time effect<span class="_ _2"/> during </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the lifetime of the s<span class="_ _2"/>wap and at ma<span class="_ _2"/>turity amounts <span class="_ _2"/>to 0.<span class="_ _2"/> If the hedg<span class="_ _2"/>ed tr<span class="_ _2"/>ansaction is prepaid,<span class="_ _2"/> the chang<span class="_ _2"/>e in basis spread </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">will be rec<span class="_ _2"/>ognised in pro<span class="_ _2"/>fit or<span class="_ _2"/> loss as ineffectiveness<span class="_ _2"/>. <span class="_ _2"/>The cost o<span class="_ _2"/>f hedging reserve amounts <span class="_ _2"/>to a gain of USD<span class="_ _2"/> 7m<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(gain o<span class="_ _1"/>f USD 15m).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:334.875px;"><span style="position: absolute; display: inline-block; left: 288.25px; top: 0.0136718px; width: 41.5605px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Carrying <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 395.688px; top: 0.0136718px; width: 110.93px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Next int<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> rat<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e fixing</span><span style="position: absolute; display: inline-block; left: 289.812px; top: 12.0137px; width: 36.8906px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">amount</span><span style="position: absolute; display: inline-block; left: 0px; top: 19.6855px; width: 224.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Borrowings and lease liabilities b<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>y inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate </span><span style="position: absolute; display: inline-block; left: 0px; top: 31.6855px; width: 557.104px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">levels inclusive of int<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> rat<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e swaps<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 189.428px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">0-1 year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1-5 years<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.4607px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5- years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 56.668px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">2023</span><span style="position: absolute; display: inline-block; left: 0px; top: 71.248px; width: 556.857px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">0-3%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 283.043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>981<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>252<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>123<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>606</span><span style="position: absolute; display: inline-block; left: 0px; top: 86.1387px; width: 556.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">3-6%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 273.363px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9,952<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,390<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,830<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,732</span><span style="position: absolute; display: inline-block; left: 0px; top: 101.029px; width: 556.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">6%-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,881<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,709<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>605<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>567</span><span style="position: absolute; display: inline-block; left: 0px; top: 115.92px; width: 557.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 267.492px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>14,814<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,351<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,558<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,905</span><span style="position: absolute; display: inline-block; left: 0px; top: 146.012px; width: 40.6699px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Of<span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> which:</span><span style="position: absolute; display: inline-block; left: 0px; top: 160.592px; width: 327.41px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bearing fixed inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,377</span><span style="position: absolute; display: inline-block; left: 0px; top: 175.482px; width: 327.41px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bearing floating inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 183.556px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,437</span><span style="position: absolute; display: inline-block; left: 0px; top: 205.574px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 220.154px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">0-3%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 273.363px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,095<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>202<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>120<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>773</span><span style="position: absolute; display: inline-block; left: 0px; top: 235.045px; width: 556.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">3-6%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.853px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,117<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,607<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,214<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,296</span><span style="position: absolute; display: inline-block; left: 0px; top: 249.936px; width: 556.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">6%-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,431<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,918<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>231<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>282</span><span style="position: absolute; display: inline-block; left: 0px; top: 264.826px; width: 556.805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.853px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>15,643<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,727<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,565<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,351</span><span style="position: absolute; display: inline-block; left: 0px; top: 294.918px; width: 40.6699px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Of<span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> which:</span><span style="position: absolute; display: inline-block; left: 0px; top: 309.498px; width: 327.41px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bearing fixed inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13,400</span><span style="position: absolute; display: inline-block; left: 0px; top: 324.389px; width: 327.41px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bearing floating inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 183.556px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,243</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:376.5625px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 60px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Oil price risk</span><span style="position: absolute; display: inline-block; left: 387.266px; top: 24.6855px; width: 40.9746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Maturity</span><span style="position: absolute; display: inline-block; left: 130.547px; top: 49.3574px; width: 46.1367px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Quantity, <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 186.031px; top: 49.3574px; width: 67.5117px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">A<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ver<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>age trade </span><span style="position: absolute; display: inline-block; left: 289.812px; top: 49.3574px; width: 39.7383px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">A<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ver<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>age <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 359.719px; top: 49.3574px; width: 197.385px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 20.7422px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">0-3 months<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 13.7696px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4-12 months</span></span><span style="position: absolute; display: inline-block; left: 141.312px; top: 61.3574px; width: 34.5762px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">million <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 210.562px; top: 61.3574px; width: 43.1895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">price per<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 287.594px; top: 61.3574px; width: 39.7969px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">dura<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tion</span><span style="position: absolute; display: inline-block; left: 109.625px; top: 73.373px; width: 65.4375px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">metric tonnes</span><span style="position: absolute; display: inline-block; left: 189.875px; top: 73.373px; width: 60.6211px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">metric tonne</span><span style="position: absolute; display: inline-block; left: 0px; top: 98.3555px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">2023</span><span style="position: absolute; display: inline-block; left: 0px; top: 112.936px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Oil swaps<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 118.272px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 112.576px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">0-1 year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span></span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>8</span><span style="position: absolute; display: inline-block; left: 0px; top: 127.826px; width: 556.963px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Buy<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 143.625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>480<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.797px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-231<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-204<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-27</span><span style="position: absolute; display: inline-block; left: 0px; top: 142.701px; width: 556.77px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Sell<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.033px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>519<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.213px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>241<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>206<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>35</span><span style="position: absolute; display: inline-block; left: 0px; top: 172.498px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Oil futures<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 111.709px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 112.576px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">0-1 year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span></span>8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>7<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1</span><span style="position: absolute; display: inline-block; left: 0px; top: 187.389px; width: 556.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Buy<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 152.414px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>633<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.279px; width: 557.027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Sell<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.185px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>639<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.619px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1</span><span style="position: absolute; display: inline-block; left: 0px; top: 217.17px; width: 557.057px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 136.477px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.58px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>18<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>9</span><span style="position: absolute; display: inline-block; left: 0px; top: 247.262px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 261.842px; width: 556.945px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Oil swaps<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 118.272px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 112.576px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">0-1 year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span></span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>20<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5</span><span style="position: absolute; display: inline-block; left: 0px; top: 276.732px; width: 556.945px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Buy<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 143.625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>517<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.797px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-132<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-135<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3</span><span style="position: absolute; display: inline-block; left: 0px; top: 291.623px; width: 556.734px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Sell<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.033px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>512<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.213px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>157<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>155<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2</span><span style="position: absolute; display: inline-block; left: 0px; top: 321.404px; width: 556.74px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Oil futures<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 118.272px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 112.576px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">0-1 year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span></span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-</span><span style="position: absolute; display: inline-block; left: 0px; top: 336.295px; width: 557.051px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Buy<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>739<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1</span><span style="position: absolute; display: inline-block; left: 0px; top: 351.186px; width: 556.963px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Sell<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.185px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>749<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.619px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1</span><span style="position: absolute; display: inline-block; left: 0px; top: 366.076px; width: 556.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 136.477px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.58px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>30<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The majority of <span class="_ _2"/>the Group’<span class="_ _2"/>s tr<span class="_ _2"/>ading of commodity<span class="_ _2"/> products is r<span class="_ _2"/>elated t<span class="_ _2"/>o inventory<span class="_ _2"/> stocks of crude oil and bunk<span class="_ _2"/>er<span class="_ _2"/> oil, as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the products ar<span class="_ _2"/>e bought in lar<span class="_ _2"/>ger<span class="_ _2"/> quantities and stor<span class="_ _2"/>ed for<span class="_ _2"/> processing and r<span class="_ _2"/>e-sale.<span class="_ _2"/> The oil price risk arising fr<span class="_ _2"/>om <span class="_ _2"/>these oil </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">price exposures is mitig<span class="_ _2"/>ated by<span class="_ _2"/> entering into commodity<span class="_ _2"/> derivative agr<span class="_ _2"/>eements.<span class="_ _2"/> <span class="_ _2"/>The over<span class="_ _2"/>all exposur<span class="_ _2"/>e limit is set in<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Group’<span class="_ _2"/>s risk policy<span class="_ _0"/>, defining a maximum net<span class="_ _2"/> open position for<span class="_ _2"/> the Gr<span class="_ _2"/>oup.<span class="_ _2"/> On 31 December<span class="_ _2"/> 2023<span class="_ _2"/>, <span class="_ _2"/>the Group enter<span class="_ _2"/>ed into </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">oil derivative positions as sho<span class="_ _2"/>wn in the <span class="_ _2"/>table.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _2"/>s sensitivity <span class="_ _2"/>to an incr<span class="_ _2"/>ease in the oil price of 5% is estima<span class="_ _2"/>ted, al<span class="_ _2"/>l else being equal, <span class="_ _2"/>to affect<span class="_ _2"/> profit<span class="_ _2"/> and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">equity befor<span class="_ _2"/>e tax ne<span class="_ _2"/>gatively<span class="_ _2"/> by<span class="_ _2"/> approx.<span class="_ _2"/> USD 2<span class="_ _2"/>4m (negativel<span class="_ _2"/>y by<span class="_ _2"/> USD 21m),<span class="_ _2"/> and negativel<span class="_ _2"/>y by<span class="_ _2"/> USD 2<span class="_ _2"/>4m (negativel<span class="_ _2"/>y<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD 21m), respectivel<span class="_ _2"/>y<span class="_ _2"/>.<span class="_ _2"/> The sensitivities ar<span class="_ _2"/>e based on the impact<span class="_ _2"/> of financial instruments tha<span class="_ _2"/>t are outstanding a<span class="_ _2"/>t the<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">balance sheet dat<span class="_ _2"/>e.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Derivative financial instruments<span class="ff3"> are reco<span class="_ _2"/>gnised on the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trading da<span class="_ _2"/>te and measured at<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue using gener<span class="_ _2"/>ally<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acknowledged v<span class="_ _2"/>aluation <span class="_ _2"/>techniques based on rele<span class="_ _2"/>vant </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">observable swap curv<span class="_ _2"/>es and exchange r<span class="_ _2"/>ates.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The effective portion of chang<span class="_ _2"/>es in the <span class="_ _2"/>value of deriv<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ative financial instruments designat<span class="_ _2"/>ed to hedge highl<span class="_ _2"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">probable futur<span class="_ _2"/>e tr<span class="_ _2"/>ansactions is reco<span class="_ _2"/>gnised in other<span class="_ _2"/> com-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prehensive income un<span class="_ _2"/>til the hedged <span class="_ _2"/>transactions ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">realised.<span class="_ _2"/> A<span class="_ _2"/>t that<span class="_ _2"/> time, the accumulated gains/losses are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _2"/>erred to the items in which the hedged trans <span class="_ _4"/>actions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _2"/>ecognised.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The effective portion<span class="_ _2"/> of changes in the <span class="_ _2"/>value of de<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rivative financial instrumen<span class="_ _2"/>ts used to hedge <span class="_ _2"/>the v<span class="_ _2"/>alue of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised financial assets and liabilities is recognised in<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _2"/> to<span class="_ _2"/>gether<span class="_ _2"/> with changes in <span class="_ _2"/>the fair<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value of <span class="_ _2"/>the hedged assets or<span class="_ _2"/> liabilities that<span class="_ _2"/> can be attrib<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">uted t<span class="_ _2"/>o the hedging rela<span class="_ _2"/>tionship. Curr<span class="_ _2"/>ency basis spr<span class="_ _2"/>ead </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and forwar<span class="_ _2"/>d points are consider<span class="_ _2"/>ed a cost<span class="_ _2"/> of hedging and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised in other<span class="_ _2"/> comprehensive income and def<span class="_ _2"/>erred </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equity until r<span class="_ _2"/>ealisation.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The ineffective portion of hedg<span class="_ _2"/>e tr<span class="_ _2"/>ansactions and changes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the f<span class="_ _2"/>air <span class="_ _2"/>values of deriv<span class="_ _2"/>ative financial instruments,<span class="_ _2"/> which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">do not qualify<span class="_ _2"/> for<span class="_ _2"/> hedge accounting,<span class="_ _2"/> are r<span class="_ _2"/>ecognised in <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement<span class="_ _2"/> as financial income or<span class="_ _2"/> expenses for<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inter<span class="_ _2"/>est and currency<span class="_ _0"/>-based instruments, and as other<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income/<span class="_ _2"/>costs for<span class="_ _0"/> oil price hedges and forward fr<span class="_ _2"/>eight </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">agreements<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 4.5 <span class="_"> </span>Financial instrumen<span class="_ _2"/>ts and risks</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:243.640625px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 557.08px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">The gain/losses of the deriv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>atives ar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e recognised as f<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ollows:<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 172.723px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 557.098px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Hedging foreign<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> exchange risk on r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>evenue<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 273.363px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-7</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 556.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Hedging foreign<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> exchange risk on oper<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ating costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 236.525px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>41<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-127</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.811px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Hedging interest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate risk<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 344.49px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-33</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Hedging foreign<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> exchange risk on <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>the cost of non-curr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ent assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 173.197px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-30</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 557.232px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal effective hedging<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 355.611px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-197</span><span style="position: absolute; display: inline-block; left: 0px; top: 99.1387px; width: 557.016px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Ineffectiveness r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ecognised in financial expenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.148px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>16</span><span style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 557.18px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal reclassified from equity r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>eserve for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> hedges<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 233.578px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-181</span><span style="position: absolute; display: inline-block; left: 0px; top: 144.121px; width: 200.104px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Derivatives accounted for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> as held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> trading:</span><span style="position: absolute; display: inline-block; left: 0px; top: 158.701px; width: 557.338px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Currency<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> derivatives r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ecognised dir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ectly in<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> financial income/<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>expenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 136.928px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>154<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-276</span><span style="position: absolute; display: inline-block; left: 0px; top: 173.592px; width: 557.203px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate deriva<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tives reco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised directly<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> in financial income/<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>expenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 127.16px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>44<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-196</span><span style="position: absolute; display: inline-block; left: 0px; top: 188.482px; width: 557.402px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Oil prices and freight<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> ra<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>te derivatives r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ecognised dir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ectly<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> in other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> income/<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 95.3906px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-23<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-150</span><span style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 557.402px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net gains/losses r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ecognised directl<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>y in <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>the income statement<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 167.408px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>175<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-622</span><span style="position: absolute; display: inline-block; left: 0px; top: 233.154px; width: 557.021px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 436.207px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>190<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-803</span></span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 4.5 <span class="_"> </span>Financial instrumen<span class="_ _2"/>ts and risks</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:243.640625px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 557.08px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">The gain/losses of the deriv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>atives ar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e recognised as f<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ollows:<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 172.723px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 557.098px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Hedging foreign<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> exchange risk on r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>evenue<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 273.363px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-7</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 556.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Hedging foreign<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> exchange risk on oper<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ating costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 236.525px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>41<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-127</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.811px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Hedging interest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate risk<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 344.49px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-33</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Hedging foreign<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> exchange risk on <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>the cost of non-curr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ent assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 173.197px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-30</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 557.232px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal effective hedging<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 355.611px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-197</span><span style="position: absolute; display: inline-block; left: 0px; top: 99.1387px; width: 557.016px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Ineffectiveness r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ecognised in financial expenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.148px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>16</span><span style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 557.18px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal reclassified from equity r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>eserve for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> hedges<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 233.578px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-181</span><span style="position: absolute; display: inline-block; left: 0px; top: 144.121px; width: 200.104px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Derivatives accounted for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> as held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> trading:</span><span style="position: absolute; display: inline-block; left: 0px; top: 158.701px; width: 557.338px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Currency<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> derivatives r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ecognised dir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ectly in<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> financial income/<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>expenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 136.928px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>154<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-276</span><span style="position: absolute; display: inline-block; left: 0px; top: 173.592px; width: 557.203px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate deriva<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tives reco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised directly<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> in financial income/<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>expenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 127.16px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>44<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-196</span><span style="position: absolute; display: inline-block; left: 0px; top: 188.482px; width: 557.402px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Oil prices and freight<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> ra<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>te derivatives r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ecognised dir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ectly<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> in other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> income/<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>costs<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 95.3906px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-23<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-150</span><span style="position: absolute; display: inline-block; left: 0px; top: 203.373px; width: 557.402px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Net gains/losses r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ecognised directl<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>y in <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>the income statement<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 167.408px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>175<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-622</span><span style="position: absolute; display: inline-block; left: 0px; top: 233.154px; width: 557.021px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 436.207px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>190<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-803</span></span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Mark<span class="_ _2"/>et risk is the risk <span class="_ _2"/>that chang<span class="_ _2"/>es in market<span class="_ _2"/> prices,<span class="_ _2"/> such as for<span class="_ _2"/>eign exchange r<span class="_ _2"/>ates and int<span class="_ _2"/>erest r<span class="_ _2"/>at<span class="_ _2"/>es, <span class="_ _2"/>will affect<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the Group’<span class="_ _2"/>s pr<span class="_ _2"/>ofit or<span class="_ _2"/> the <span class="_ _2"/>value of its holdings of financial instruments<span class="_ _2"/>. <span class="_ _2"/>The sensitivity anal<span class="_ _2"/>yses in the curr<span class="_ _2"/>ency risk and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inter<span class="_ _2"/>est r<span class="_ _2"/>ate risk sections rela<span class="_ _2"/>te t<span class="_ _2"/>o the position of financial instruments at<span class="_ _2"/> 31 December<span class="_ _2"/> 2023.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The sensitivity analy<span class="_ _2"/>ses for<span class="_ _2"/> currency<span class="_ _2"/> risk and inter<span class="_ _2"/>est r<span class="_ _2"/>ate risk have been<span class="_ _2"/> prepared on<span class="_ _2"/> the basis <span class="_ _2"/>that <span class="_ _2"/>the amount of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">net debt,<span class="_ _2"/> the r<span class="_ _2"/>atio of fixed <span class="_ _2"/>to floating inter<span class="_ _2"/>est r<span class="_ _2"/>ates of <span class="_ _2"/>the debt and <span class="_ _2"/>the proportion of financial instrumen<span class="_ _2"/>ts in foreign<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currencies r<span class="_ _2"/>emain unchanged from<span class="_ _2"/> hedge designations in place at<span class="_ _2"/> 31 December<span class="_ _2"/> 2023.<span class="_ _2"/> Furthermor<span class="_ _2"/>e,<span class="_ _2"/> it is assumed tha<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the exchange r<span class="_ _2"/>ate and int<span class="_ _2"/>erest r<span class="_ _2"/>at<span class="_ _2"/>e sensitivities have a symmetric impact,<span class="_ _2"/> i.e.<span class="_ _2"/> an incr<span class="_ _2"/>ease in ra<span class="_ _2"/>tes resul<span class="_ _2"/>ts in the same ab-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">solute movement<span class="_ _2"/> as a decrease in<span class="_ _2"/> rat<span class="_ _2"/>es.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The sensitivity analy<span class="_ _2"/>ses show the effect<span class="_ _2"/> on pr<span class="_ _2"/>ofit and equity o<span class="_ _2"/>f a reasonably<span class="_ _2"/> possible change in ex<span class="_ _2"/>change ra<span class="_ _2"/>tes and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inter<span class="_ _2"/>est r<span class="_ _2"/>ates.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Hedges comprise primarily<span class="_ _2"/> currency<span class="_ _2"/> derivativ<span class="_ _2"/>es and interest<span class="_ _2"/> ra<span class="_ _2"/>te derivatives<span class="_ _2"/>, <span class="_ _2"/>which are further<span class="_ _2"/> described in <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">following sections.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Currency risk</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _2"/>s curr<span class="_ _2"/>ency risk rela<span class="_ _2"/>tes to <span class="_ _2"/>the fact<span class="_ _2"/> that<span class="_ _2"/> while income from<span class="_ _2"/> Ocean activities is denominated mainly<span class="_ _2"/> in USD<span class="_ _2"/>, <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">relat<span class="_ _2"/>ed expenses are incurr<span class="_ _2"/>ed in both USD and a <span class="_ _2"/>wide range of other<span class="_ _0"/> currencies such as EUR, DKK,<span class="_ _2"/> CNY<span class="_ _0"/>, HKD and SGD<span class="_ _2"/>.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">As the net<span class="_ _2"/> income is in USD,<span class="_ _2"/> this is also <span class="_ _2"/>the primary financing curr<span class="_ _2"/>ency<span class="_ _2"/>.<span class="_ _2"/> Income and expenses from<span class="_ _2"/> other activities ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mainly denomina<span class="_ _2"/>ted in local currencies<span class="_ _2"/>, <span class="_ _2"/>thus reducing <span class="_ _2"/>the Group’<span class="_ _2"/>s exposur<span class="_ _2"/>e to <span class="_ _2"/>these currencies<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The main purpose of hedging the Gr<span class="_ _2"/>oup’<span class="_ _2"/>s currency<span class="_ _2"/> risk is to hedge <span class="_ _2"/>the USD <span class="_ _2"/>value of the Gr<span class="_ _2"/>oup’<span class="_ _2"/>s net cash flow and<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reduce fluctuations in<span class="_ _2"/> the Group<span class="_ _2"/>’s pr<span class="_ _2"/>ofit.<span class="_ _2"/> The Gr<span class="_ _2"/>oup uses various financial deriv<span class="_ _2"/>atives,<span class="_ _2"/> including forw<span class="_ _2"/>ards,<span class="_ _2"/> option <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">contr<span class="_ _2"/>acts and cross-curr<span class="_ _2"/>ency swaps<span class="_ _2"/>, <span class="_ _2"/>to hedge <span class="_ _2"/>these risks.<span class="_ _2"/> The k<span class="_ _2"/>ey aspects of <span class="_ _2"/>the currency<span class="_ _2"/> hedging policy ar<span class="_ _2"/>e:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span> <span class="_ _4"/>Net cash flows in significant<span class="_ _2"/> currencies other<span class="_ _2"/> than<span class="_ _2"/> USD are hedg<span class="_ _2"/>ed using a layer<span class="_ _2"/>ed model </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with a 12-month horiz<span class="_ _2"/>on</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span> <span class="_ _4"/>Significant capital commitments or<span class="_ _2"/> divestments in curr<span class="_ _2"/>encies other<span class="_ _2"/> than USD<span class="_ _2"/> are hedged</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">• <span class="_ _d6"> </span> <span class="_ _4"/>Most non-USD debt is hedged,<span class="_ _2"/> howe<span class="_ _2"/>ver<span class="_ _0"/>, depending on the asset<span class="_ _0"/>-liability match and the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">currency<span class="_ _2"/> of the gener<span class="_ _2"/>ated cash flo<span class="_ _2"/>w.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Currency<span class="_ _2"/> derivatives hedge futur<span class="_ _2"/>e re<span class="_ _2"/>venue,<span class="_ _2"/> operating c<span class="_ _2"/>osts and investments/<span class="_ _2"/>divestments<span class="_ _2"/>, and ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised on an </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ongoing basis in the inc<span class="_ _2"/>ome statement and <span class="_ _2"/>the cost of pr<span class="_ _2"/>operty<span class="_ _2"/>,<span class="_ _2"/> plant and equipmen<span class="_ _2"/>t, r<span class="_ _2"/>espectively<span class="_ _0"/>. Ther<span class="_ _2"/>e is not an<span class="_ _2"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">proxy<span class="_ _2"/> hedging for<span class="_ _2"/> the curr<span class="_ _2"/>ency risk hedging,<span class="_ _2"/> and ther<span class="_ _2"/>efor<span class="_ _2"/>e the economic r<span class="_ _2"/>elationship between the hedged e<span class="_ _2"/>xposure and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the hedge is high. E<span class="_ _2"/>ffectiveness is assessed using <span class="_ _2"/>the critical terms mat<span class="_ _2"/>ch approach accor<span class="_ _2"/>ding t<span class="_ _2"/>o IFRS 9.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Hedges of future r<span class="_ _2"/>evenue and oper<span class="_ _2"/>ating costs matur<span class="_ _2"/>es within a <span class="_ _2"/>year<span class="_ _2"/> (matures <span class="_ _2"/>within a year).<span class="_ _2"/> <span class="_ _2"/>There ar<span class="_ _2"/>e no hedges of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">investments at<span class="_ _2"/> the end of 2023 (matur<span class="_ _2"/>es within one <span class="_ _2"/>year).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>For<span class="_ _2"/> hedges relat<span class="_ _2"/>ed to oper<span class="_ _2"/>ating and investmen<span class="_ _2"/>t cash flows<span class="_ _2"/>, a loss o<span class="_ _2"/>f USD 8m in 2023 (gain of USD<span class="_ _2"/> 94m) is recognised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in other<span class="_ _2"/> comprehensive inc<span class="_ _2"/>ome, and <span class="_ _2"/>the cash flow hedge r<span class="_ _2"/>eserve amounts t<span class="_ _2"/>o a gain of USD 43m<span class="_ _2"/> at 31 December<span class="_ _0"/> <span class="_ _1"/><span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(gain of USD 51m).<span class="_ _2"/> For<span class="_ _2"/> hedges wher<span class="_ _2"/>e the cost<span class="_ _2"/> of hedging is applied, <span class="_ _2"/>the forwar<span class="_ _2"/>d points are r<span class="_ _2"/>ecognised in other<span class="_ _0"/> com<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prehen<span class="_ _1"/>sive income and tr<span class="_ _2"/>ansferr<span class="_ _2"/>ed with <span class="_ _2"/>the effective hedge when<span class="_ _2"/> the hedged <span class="_ _2"/>transaction oc<span class="_ _2"/>curs. <span class="_ _2"/>The cost<span class="_ _2"/> of hedging </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reserve amoun<span class="_ _2"/>ts to USD 0m<span class="_ _2"/> (USD 0m). <span class="_ _2"/>Ther<span class="_ _2"/>e was no ineffectiv<span class="_ _2"/>eness in 2023 (no ineffectiveness).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Besides the designa<span class="_ _2"/>ted cash flow hedges in <span class="_ _2"/>the table,<span class="_ _2"/> the Gr<span class="_ _2"/>oup uses derivativ<span class="_ _2"/>es to hedge curr<span class="_ _2"/>ency e<span class="_ _2"/>xposures tha<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">do not qualify<span class="_ _2"/> for<span class="_ _2"/> hedge accounting.<span class="_ _2"/> These deriv<span class="_ _2"/>atives ar<span class="_ _2"/>e classified as fair<span class="_ _2"/> v<span class="_ _2"/>alue thr<span class="_ _2"/>ough profit<span class="_ _2"/> or los<span class="_ _2"/>s. <span class="_ _2"/>The aver<span class="_ _2"/>age<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">FX hedge r<span class="_ _2"/>ates for<span class="_ _2"/> swaps in<span class="_ _2"/> cash flow hedge wer<span class="_ _2"/>e EUR/USD 1.<span class="_ _0"/>18 (1.<span class="_ _0"/>18) and GBP/USD 1.52 (1.52).<span class="_ _2"/> The a<span class="_ _2"/>verag<span class="_ _2"/>e FX hedge </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _2"/>tes for<span class="_ _2"/> swaps in c<span class="_ _2"/>ombined fair<span class="_ _2"/> v<span class="_ _2"/>alue hedge were EUR/USD<span class="_ _2"/> 1.24 (1.2<span class="_ _2"/>4), GBP<span class="_ _2"/>/USD 1.52 (1.52),<span class="_ _2"/> USD/NOK 8<span class="_ _2"/>.25 (8.25) and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD/<span class="_ _0"/>JPY<span class="_ _2"/> 119.39 (119<span class="_ _2"/>.39).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:94.734375px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 556.957px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Derivatives r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ecognised at<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> v<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>alue in the balance sheet<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 185.982px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 557.15px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 346.342px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5762px; width: 556.945px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 362.004px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>137<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>198</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 557.314px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Non-current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 349.951px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>323<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>495</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.934px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Current<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 378.795px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>72<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>77</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 556.764px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Liabilities, net<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 383.467px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>247<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>364</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:282.546875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 192.545px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Hedge of oper<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ating and investment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> cash </span><span style="position: absolute; display: inline-block; left: 254px; top: 0.0136718px; width: 50.4785px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value, <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 339.031px; top: 0.0136718px; width: 50.4785px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value, <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 432.406px; top: 0.0136718px; width: 42.0059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Nominal </span><span style="position: absolute; display: inline-block; left: 519.109px; top: 0.0136718px; width: 39.7383px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">A<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ver<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>age <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 124.312px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">flows in for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>eign currencies</span><span style="position: absolute; display: inline-block; left: 277.219px; top: 12.0137px; width: 24.8965px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">asset</span><span style="position: absolute; display: inline-block; left: 351.719px; top: 12.0137px; width: 34.6758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">liability</span><span style="position: absolute; display: inline-block; left: 422.719px; top: 12.0137px; width: 51.8379px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">amount of <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 506.75px; top: 12.0137px; width: 50.3496px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">hedge r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate</span><span style="position: absolute; display: inline-block; left: 425.922px; top: 24.0137px; width: 46.3711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">derivative</span><span style="position: absolute; display: inline-block; left: 0px; top: 48.9961px; width: 105.328px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Main currencies hedged</span><span style="position: absolute; display: inline-block; left: 0px; top: 63.5762px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023</span><span style="position: absolute; display: inline-block; left: 0px; top: 78.4668px; width: 556.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">EUR<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 269.865px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.1935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.9511px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,017<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.2304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>EUR/USD 1.10</span><span style="position: absolute; display: inline-block; left: 0px; top: 93.3574px; width: 556.992px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">DKK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.141px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.1935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>286<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.2304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD/DKK 6.76</span><span style="position: absolute; display: inline-block; left: 0px; top: 107.498px; width: 557.385px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">CNY<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.141px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>249<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 17.6777px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD/<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>CNY 7.04</span><span style="position: absolute; display: inline-block; left: 0px; top: 123.139px; width: 557.098px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">HKD<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 277.143px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.5545px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>193<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 15.1641px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD/HKD 7.78</span><span style="position: absolute; display: inline-block; left: 0px; top: 138.029px; width: 556.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> currencies<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 211.699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>33<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.1935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.9511px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,119<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0.3885px; letter-spacing: -0.3885px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">N<span style="word-spacing: 0.3885px; letter-spacing: -0.3885px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>/A</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 152.92px; width: 386.801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 261.732px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>55<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>12</span><span style="position: absolute; display: inline-block; left: 0px; top: 182.717px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 197.592px; width: 557.139px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">EUR<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 269.865px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>24<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.1935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>749<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.2304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>EUR/USD 1.05</span><span style="position: absolute; display: inline-block; left: 0px; top: 212.482px; width: 557.162px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">DKK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 269.865px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.1935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>312<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.2304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD/DKK 7.08</span><span style="position: absolute; display: inline-block; left: 0px; top: 226.639px; width: 557.227px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">CNY<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 276.141px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>82<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 17.0567px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD/CNY<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> 7.01</span><span style="position: absolute; display: inline-block; left: 0px; top: 242.279px; width: 557.098px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">HKD<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 275.022px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.5545px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>210<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 15.1641px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD/HKD 7.81</span><span style="position: absolute; display: inline-block; left: 0px; top: 257.17px; width: 556.875px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> currencies<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 211.699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>32<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>974<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0.3885px; letter-spacing: -0.3885px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">N<span style="word-spacing: 0.3885px; letter-spacing: -0.3885px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>/A</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 272.061px; width: 386.801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 261.732px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>74<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>23</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:74.734375px;"><span style="position: absolute; display: inline-block; left: 466.672px; top: 0.0136718px; width: 44.4668px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> hedges reco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value thr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ough profit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> and loss<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 170.303px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 556.775px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Currency<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> derivatives<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 372.685px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>43<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>86</span><span style="position: absolute; display: inline-block; left: 0px; top: 64.248px; width: 556.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 440.284px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>43<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>86</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _2"/>s sensitivity <span class="_ _2"/>to an incr<span class="_ _2"/>ease in the USD<span class="_ _2"/> exchange r<span class="_ _2"/>ate of 10% against<span class="_ _2"/> all other<span class="_ _2"/> significant curr<span class="_ _2"/>encies t<span class="_ _2"/>o which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the Group is exposed is estimat<span class="_ _2"/>ed to ha<span class="_ _2"/>ve the fol<span class="_ _2"/>lowing impact.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The sensitivities are based onl<span class="_ _2"/>y on <span class="_ _2"/>the impact of financial instruments <span class="_ _2"/>that ar<span class="_ _2"/>e outstanding at <span class="_ _2"/>the balance sheet dat<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and are <span class="_ _2"/>thus not an expr<span class="_ _2"/>ession of <span class="_ _2"/>the Group’<span class="_ _2"/>s t<span class="_ _2"/>otal currency risk.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:119.375px;"><span style="position: absolute; display: inline-block; left: 297.156px; top: 0.0136718px; width: 231.996px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Profit<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> before tax<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 74.0509px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Equity befor<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e tax</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.77px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Currency<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sensitivity for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> financial instruments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 91.4707px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 19.2344px; top: 49.2109px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 19.377px; top: 49.3574px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 19.377px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">EUR</span><span style="position: absolute; display: inline-block; left: 314.641px; top: 49.3418px; width: 242.508px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">41<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>167<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-50<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>99</span><span style="position: absolute; display: inline-block; left: 0px; top: 64.2324px; width: 556.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">CNY<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 295.342px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>31<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>34<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>27</span><span style="position: absolute; display: inline-block; left: 0px; top: 79.123px; width: 557.262px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">DKK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 301.57px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-221<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-17<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-249</span><span style="position: absolute; display: inline-block; left: 0px; top: 94.0137px; width: 556.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 283.541px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-45<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-133<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-145<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-224</span><span style="position: absolute; display: inline-block; left: 0px; top: 108.889px; width: 556.898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 289.635px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>36<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> -153 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-204<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> -347</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>EUR sensitivity has been r<span class="_ _2"/>estated for<span class="_ _2"/> 2022 from USD<span class="_ _2"/> 30m/USD -38m t<span class="_ _2"/>o USD 167m/USD<span class="_ _2"/> 99m for<span class="_ _2"/> profit<span class="_ _2"/> before <span class="_ _2"/>tax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and equity befor<span class="_ _2"/>e tax,<span class="_ _2"/> respectivel<span class="_ _2"/>y<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:654.96875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 81.0762px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Interest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> rat<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>e risk</span><span style="position: absolute; display: inline-block; left: 301.75px; top: 24.6855px; width: 40.9746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Maturity</span><span style="position: absolute; display: inline-block; left: 97.6875px; top: 49.373px; width: 19.3828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 152.875px; top: 49.373px; width: 19.3828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 185.922px; top: 49.373px; width: 42.0059px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Nominal </span><span style="position: absolute; display: inline-block; left: 241.109px; top: 49.373px; width: 207.914px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">0-1 year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 10.1953px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2-5 years<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 16.6817px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5- years<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 11.5196px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gain/loss <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span></span><span style="position: absolute; display: inline-block; left: 456.969px; top: 49.373px; width: 46.2715px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gain/loss <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 519.109px; top: 49.3887px; width: 39.7383px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">A<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ver<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>age <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 86.4062px; top: 61.373px; width: 30.8789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">value, <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 141.812px; top: 61.373px; width: 30.8789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">value, <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 188.594px; top: 61.373px; width: 39.4512px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">amount </span><span style="position: absolute; display: inline-block; left: 434.797px; top: 61.373px; width: 14.3555px; white-space: pre; word-spacing: 0.0735px; letter-spacing: -0.0735px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">on </span><span style="position: absolute; display: inline-block; left: 489.859px; top: 61.373px; width: 14.0801px; white-space: pre; word-spacing: 0.0735px; letter-spacing: -0.0735px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">on <span style="word-spacing: 0.0735px; letter-spacing: -0.0735px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 527.25px; top: 61.3887px; width: 31.207px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">hedge <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 73.373px; width: 60.6914px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate </span><span style="position: absolute; display: inline-block; left: 90.6562px; top: 73.373px; width: 24.8965px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">asset</span><span style="position: absolute; display: inline-block; left: 136.062px; top: 73.373px; width: 34.6758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">liability</span><span style="position: absolute; display: inline-block; left: 215.281px; top: 73.373px; width: 12.3457px; white-space: pre; word-spacing: 0.021px; letter-spacing: -0.021px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">of <span style="word-spacing: 0.021px; letter-spacing: -0.021px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 410.969px; top: 73.373px; width: 37.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">hedged </span><span style="position: absolute; display: inline-block; left: 463.266px; top: 73.373px; width: 40.3008px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">hedging </span><span style="position: absolute; display: inline-block; left: 537.516px; top: 73.3887px; width: 18.416px; white-space: pre; word-spacing: 0.3255px; letter-spacing: -0.3255px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">rat<span style="word-spacing: 0.3255px; letter-spacing: -0.3255px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e</span><span style="position: absolute; display: inline-block; left: 0px; top: 85.373px; width: 52.9629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">hedging of </span><span style="position: absolute; display: inline-block; left: 179.828px; top: 85.373px; width: 46.3711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">derivative</span><span style="position: absolute; display: inline-block; left: 424.391px; top: 85.373px; width: 21.498px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">item</span><span style="position: absolute; display: inline-block; left: 469.422px; top: 85.373px; width: 31.9336px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">instru-</span><span style="position: absolute; display: inline-block; left: 0px; top: 97.373px; width: 53.209px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">borrowings</span><span style="position: absolute; display: inline-block; left: 476.516px; top: 97.373px; width: 24.9727px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">ment</span><span style="position: absolute; display: inline-block; left: 0px; top: 123.215px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">2023</span><span style="position: absolute; display: inline-block; left: 0px; top: 137.262px; width: 92.959px; white-space: pre; word-spacing: -0.4305px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Combined fair<span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value <span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 149.262px; width: 74.8594px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">hedge, hedge of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 161.262px; width: 49.8164px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">borrowings</span><span style="position: absolute; display: inline-block; left: 0px; top: 174.982px; width: 556.641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">EUR<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>90<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>503<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>415<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>88<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7949px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-32<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7.3%</span><span style="position: absolute; display: inline-block; left: 0px; top: 189.029px; width: 556.758px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">GBP<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>24<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>89<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>89<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 49.4648px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-6<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.8848px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7.9%</span><span style="position: absolute; display: inline-block; left: 0px; top: 203.061px; width: 556.816px; white-space: pre; word-spacing: 0.1365px; letter-spacing: -0.1365px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">JPY<span style="word-spacing: 0.1365px; letter-spacing: -0.1365px; display: inline-block; margin-left: 0px; width: 93.7852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>88<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>88<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.8848px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7.2%</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 217.107px; width: 556.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">NOK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.2108px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>68<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>216<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>216<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.5998px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-18<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7.9%</span><span style="position: absolute; display: inline-block; left: 0px; top: 240.59px; width: 79.793px; white-space: pre; word-spacing: -0.4305px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value hedge, <span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 252.59px; width: 90.0938px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">hedge of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> borrowings</span><span style="position: absolute; display: inline-block; left: 0px; top: 266.311px; width: 556.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">USD<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 82.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>44<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>850<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>200<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>650<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>32<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-33<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7.7%</span><span style="position: absolute; display: inline-block; left: 0px; top: 289.793px; width: 79.9805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Cash flow hedge, </span><span style="position: absolute; display: inline-block; left: 0px; top: 301.793px; width: 90.0938px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">hedge of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> borrowings</span><span style="position: absolute; display: inline-block; left: 0px; top: 315.529px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">EUR<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>88<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>967<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>414<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>553<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-29<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3.2%</span><span style="position: absolute; display: inline-block; left: 0px; top: 329.561px; width: 556.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">GBP<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>33<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>162<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>162<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4.6%</span><span style="position: absolute; display: inline-block; left: 0px; top: 343.607px; width: 556.963px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">USD<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 88.7873px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>64<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>30<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>34<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 49.4648px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.8848px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2.6%</span><span style="position: absolute; display: inline-block; left: 0px; top: 358.498px; width: 501.586px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 76.8574px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>364<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.3262px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,939<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.3262px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,614<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.3262px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,325<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7949px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>61<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.6758px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-119</span><span style="position: absolute; display: inline-block; left: 0px; top: 381.98px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 396.012px; width: 92.959px; white-space: pre; word-spacing: -0.4305px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Combined fair<span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value <span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 408.012px; width: 74.8594px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">hedge, hedge of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 420.027px; width: 49.8164px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">borrowings</span><span style="position: absolute; display: inline-block; left: 0px; top: 433.748px; width: 556.764px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">EUR<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>127<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>486<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>401<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7949px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>85<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>35<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.5998px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-54<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6.2%</span><span style="position: absolute; display: inline-block; left: 0px; top: 447.779px; width: 556.846px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">GBP<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>29<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>84<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>84<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.3614px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-7<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6.8%</span><span style="position: absolute; display: inline-block; left: 0px; top: 461.826px; width: 556.74px; white-space: pre; word-spacing: 0.1365px; letter-spacing: -0.1365px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">JPY<span style="word-spacing: 0.1365px; letter-spacing: -0.1365px; display: inline-block; margin-left: 0px; width: 93.7852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>95<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>95<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7949px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6.1%</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 475.857px; width: 556.799px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">NOK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.2108px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>64<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>223<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>223<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-22<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6.8%</span><span style="position: absolute; display: inline-block; left: 0px; top: 499.34px; width: 79.793px; white-space: pre; word-spacing: -0.4305px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value hedge, <span style="word-spacing: -0.4305px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 511.355px; width: 90.0938px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">hedge of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> borrowings</span><span style="position: absolute; display: inline-block; left: 0px; top: 525.076px; width: 556.605px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">USD<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>73<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>900<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.2107px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>500<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>400<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>75<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-73<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6.7%</span><span style="position: absolute; display: inline-block; left: 0px; top: 548.559px; width: 79.9805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Cash flow hedge, </span><span style="position: absolute; display: inline-block; left: 0px; top: 560.559px; width: 90.0938px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">hedge of<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> borrowings</span><span style="position: absolute; display: inline-block; left: 0px; top: 574.295px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">EUR<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>145<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>934<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.2107px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>400<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>534<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.2107px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-56<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 30.8848px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3.2%</span><span style="position: absolute; display: inline-block; left: 0px; top: 588.326px; width: 556.869px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">GBP<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.8205px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>77<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>277<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.2107px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>277<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.2107px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.7949px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4.6%</span><span style="position: absolute; display: inline-block; left: 0px; top: 602.373px; width: 556.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">NOK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 90.2108px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>26<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>26<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.2107px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3.3%</span><span style="position: absolute; display: inline-block; left: 0px; top: 616.404px; width: 556.986px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">SEK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 92.5252px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.2404px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>61<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.6855px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>61<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 28.5879px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1.7%</span><span style="position: absolute; display: inline-block; left: 0px; top: 630.451px; width: 556.617px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">USD<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 82.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.2107px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>391<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>150<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>200<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>41<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 48.2107px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 39.4042px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2.7%</span><span style="position: absolute; display: inline-block; left: 0px; top: 644.482px; width: 501.492px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 76.8574px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.3223px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>543<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.3262px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,477<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>176<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.3262px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,241<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 26.3262px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,060<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.7304px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>131<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-208</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group has most<span class="_ _2"/> of its debt denominated in<span class="_ _2"/> USD,<span class="_ _2"/> but part<span class="_ _2"/> of the debt<span class="_ _2"/> (e.g. issued bonds) is in<span class="_ _2"/> other<span class="_ _2"/> currencies such </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as EUR, GBP<span class="_ _a"/>, NOK and JP<span class="_ _2"/>Y<span class="_ _0"/>. <span class="_ _2"/>The Group strives <span class="_ _2"/>to maintain a<span class="_ _2"/> combination of fixed and floating int<span class="_ _2"/>erest r<span class="_ _0"/>ates on its net </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">debt, r<span class="_ _2"/>eflecting expectations and risks.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Inter<span class="_ _2"/>est r<span class="_ _2"/>ate risk is managed within a<span class="_ _2"/> range set<span class="_ _2"/> for<span class="_ _2"/> <span class="_ _2"/>the percentage of gr<span class="_ _2"/>oss debt carrying fix<span class="_ _2"/>ed interest,<span class="_ _2"/> net of hedging.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The level a<span class="_ _2"/>t 31 Decembe<span class="_ _2"/>r is<span class="_ _2"/> 41% (43%) excluding IFRS 16 Leases.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>A g<span class="_ _2"/>eneral incr<span class="_ _2"/>ease in inter<span class="_ _2"/>est r<span class="_ _2"/>ates by<span class="_ _2"/> 1 percen<span class="_ _2"/>tage point is estimat<span class="_ _2"/>ed, al<span class="_ _2"/>l else being equal, <span class="_ _2"/>to affect<span class="_ _2"/> profit<span class="_ _2"/> before <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax and equity<span class="_ _2"/>,<span class="_ _2"/> excluding tax eff<span class="_ _2"/>ect, positiv<span class="_ _2"/>ely by<span class="_ _2"/> appro<span class="_ _2"/>x. USD 134m<span class="_ _2"/> (positively<span class="_ _2"/> by USD 215m) and positiv<span class="_ _2"/>ely by<span class="_ _2"/> appro<span class="_ _2"/>x. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD 113m (positivel<span class="_ _2"/>y by<span class="_ _2"/> USD 199m),<span class="_ _2"/> respectivel<span class="_ _2"/>y<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>This analysis assumes <span class="_ _2"/>that al<span class="_ _2"/>l other <span class="_ _2"/>variables,<span class="_ _2"/> in particular<span class="_ _2"/> for<span class="_ _2"/>eign curr<span class="_ _2"/>ency r<span class="_ _2"/>ates,<span class="_ _2"/> remain<span class="_ _2"/> constant. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The hedging of the inter<span class="_ _2"/>est r<span class="_ _2"/>ate risk is done b<span class="_ _2"/>y cr<span class="_ _2"/>oss-currency s<span class="_ _2"/>waps and inter<span class="_ _2"/>est r<span class="_ _2"/>ate sw<span class="_ _2"/>aps. <span class="_ _2"/>The hedging is a mix of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _2"/> v<span class="_ _2"/>alue hedging, combined f<span class="_ _2"/>air<span class="_ _2"/> value hedging and cash flo<span class="_ _2"/>w hedging.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Combined fair<span class="_ _2"/> v<span class="_ _2"/>alue hedging is applied when cros<span class="_ _2"/>s-currency s<span class="_ _2"/>waps are ent<span class="_ _2"/>ered int<span class="_ _2"/>o to hedge <span class="_ _2"/>the risk of debt denom-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inated in curr<span class="_ _2"/>encies other<span class="_ _2"/> than USD<span class="_ _2"/>. E<span class="_ _2"/>ach hedge relationship is split<span class="_ _2"/> into a f<span class="_ _2"/>air<span class="_ _2"/> value hedg<span class="_ _2"/>e, <span class="_ _2"/>where <span class="_ _2"/>value changes fr<span class="_ _2"/>om </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market<span class="_ _2"/> ra<span class="_ _2"/>tes are r<span class="_ _2"/>ecognised dir<span class="_ _2"/>ectly in pr<span class="_ _2"/>ofit or<span class="_ _0"/> loss, and a cash flow hedg<span class="_ _2"/>e, <span class="_ _2"/>where <span class="_ _2"/>the value chang<span class="_ _2"/>es from <span class="_ _2"/>the exchange </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ra<span class="_ _2"/>te exposure of <span class="_ _2"/>the credit<span class="_ _2"/> margin ar<span class="_ _2"/>e reco<span class="_ _2"/>gnised in other<span class="_ _2"/> comprehensive income<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Ineffectiveness fr<span class="_ _2"/>om cash flow hedges due <span class="_ _2"/>to buy<span class="_ _2"/>-back of issued bonds is reco<span class="_ _2"/>gnised in the income sta<span class="_ _2"/>tement <span class="_ _2"/>with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a cost of USD 1m<span class="_ _2"/> (USD 0m). </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The hedges are e<span class="_ _2"/>xpected to be highl<span class="_ _2"/>y effectiv<span class="_ _2"/>e due to <span class="_ _2"/>the nature of <span class="_ _2"/>the economic relationship betw<span class="_ _2"/>een the exposur<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and the hedge<span class="_ _2"/>. <span class="_ _2"/>The source of ineff<span class="_ _2"/>ectiveness is the cr<span class="_ _2"/>edit risk of <span class="_ _2"/>the hedging instruments.<span class="_ _2"/> For<span class="_ _2"/> hedges wher<span class="_ _2"/>e the cost o<span class="_ _2"/>f </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">hedging is applied, <span class="_ _2"/>the change in basis spr<span class="_ _2"/>ead is recognised in<span class="_ _2"/> other compr<span class="_ _2"/>ehensive income and is a <span class="_ _2"/>time effect<span class="_ _2"/> during </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the lifetime of the s<span class="_ _2"/>wap and at ma<span class="_ _2"/>turity amounts <span class="_ _2"/>to 0.<span class="_ _2"/> If the hedg<span class="_ _2"/>ed tr<span class="_ _2"/>ansaction is prepaid,<span class="_ _2"/> the chang<span class="_ _2"/>e in basis spread </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">will be rec<span class="_ _2"/>ognised in pro<span class="_ _2"/>fit or<span class="_ _2"/> loss as ineffectiveness<span class="_ _2"/>. <span class="_ _2"/>The cost o<span class="_ _2"/>f hedging reserve amounts <span class="_ _2"/>to a gain of USD<span class="_ _2"/> 7m<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(gain o<span class="_ _1"/>f USD 15m).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:334.875px;"><span style="position: absolute; display: inline-block; left: 288.25px; top: 0.0136718px; width: 41.5605px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Carrying <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 395.688px; top: 0.0136718px; width: 110.93px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Next int<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> rat<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e fixing</span><span style="position: absolute; display: inline-block; left: 289.812px; top: 12.0137px; width: 36.8906px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">amount</span><span style="position: absolute; display: inline-block; left: 0px; top: 19.6855px; width: 224.561px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Borrowings and lease liabilities b<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>y inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate </span><span style="position: absolute; display: inline-block; left: 0px; top: 31.6855px; width: 557.104px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">levels inclusive of int<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> rat<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e swaps<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 189.428px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">0-1 year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 31.2832px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1-5 years<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.4607px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5- years</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 56.668px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">2023</span><span style="position: absolute; display: inline-block; left: 0px; top: 71.248px; width: 556.857px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">0-3%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 283.043px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>981<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>252<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>123<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>606</span><span style="position: absolute; display: inline-block; left: 0px; top: 86.1387px; width: 556.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">3-6%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 273.363px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9,952<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,390<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,830<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,732</span><span style="position: absolute; display: inline-block; left: 0px; top: 101.029px; width: 556.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">6%-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,881<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,709<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>605<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>567</span><span style="position: absolute; display: inline-block; left: 0px; top: 115.92px; width: 557.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 267.492px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>14,814<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,351<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,558<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,905</span><span style="position: absolute; display: inline-block; left: 0px; top: 146.012px; width: 40.6699px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Of<span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> which:</span><span style="position: absolute; display: inline-block; left: 0px; top: 160.592px; width: 327.41px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bearing fixed inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,377</span><span style="position: absolute; display: inline-block; left: 0px; top: 175.482px; width: 327.41px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bearing floating inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 183.556px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,437</span><span style="position: absolute; display: inline-block; left: 0px; top: 205.574px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 220.154px; width: 556.922px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">0-3%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 273.363px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,095<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>202<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>120<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>773</span><span style="position: absolute; display: inline-block; left: 0px; top: 235.045px; width: 556.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">3-6%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.853px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,117<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,607<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,214<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,296</span><span style="position: absolute; display: inline-block; left: 0px; top: 249.936px; width: 556.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">6%-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,431<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,918<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>231<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>282</span><span style="position: absolute; display: inline-block; left: 0px; top: 264.826px; width: 556.805px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 266.853px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>15,643<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,727<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,565<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,351</span><span style="position: absolute; display: inline-block; left: 0px; top: 294.918px; width: 40.6699px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Of<span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> which:</span><span style="position: absolute; display: inline-block; left: 0px; top: 309.498px; width: 327.41px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bearing fixed inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13,400</span><span style="position: absolute; display: inline-block; left: 0px; top: 324.389px; width: 327.41px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bearing floating inter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>est<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 183.556px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,243</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:376.5625px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 60px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Oil price risk</span><span style="position: absolute; display: inline-block; left: 387.266px; top: 24.6855px; width: 40.9746px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Maturity</span><span style="position: absolute; display: inline-block; left: 130.547px; top: 49.3574px; width: 46.1367px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Quantity, <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 186.031px; top: 49.3574px; width: 67.5117px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">A<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ver<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>age trade </span><span style="position: absolute; display: inline-block; left: 289.812px; top: 49.3574px; width: 39.7383px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">A<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ver<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>age <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 359.719px; top: 49.3574px; width: 197.385px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> value<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 20.7422px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">0-3 months<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 13.7696px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4-12 months</span></span><span style="position: absolute; display: inline-block; left: 141.312px; top: 61.3574px; width: 34.5762px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">million <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 210.562px; top: 61.3574px; width: 43.1895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">price per<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 287.594px; top: 61.3574px; width: 39.7969px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">dura<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tion</span><span style="position: absolute; display: inline-block; left: 109.625px; top: 73.373px; width: 65.4375px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">metric tonnes</span><span style="position: absolute; display: inline-block; left: 189.875px; top: 73.373px; width: 60.6211px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">metric tonne</span><span style="position: absolute; display: inline-block; left: 0px; top: 98.3555px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">2023</span><span style="position: absolute; display: inline-block; left: 0px; top: 112.936px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Oil swaps<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 118.272px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 112.576px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">0-1 year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span></span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>8</span><span style="position: absolute; display: inline-block; left: 0px; top: 127.826px; width: 556.963px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Buy<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 143.625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>480<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.797px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-231<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-204<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-27</span><span style="position: absolute; display: inline-block; left: 0px; top: 142.701px; width: 556.77px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Sell<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.033px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>519<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.213px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>241<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>206<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>35</span><span style="position: absolute; display: inline-block; left: 0px; top: 172.498px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Oil futures<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 111.709px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 112.576px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">0-1 year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span></span>8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>7<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1</span><span style="position: absolute; display: inline-block; left: 0px; top: 187.389px; width: 556.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Buy<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 152.414px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>633<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.279px; width: 557.027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Sell<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.185px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>639<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.619px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1</span><span style="position: absolute; display: inline-block; left: 0px; top: 217.17px; width: 557.057px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 136.477px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.58px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>18<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>9</span><span style="position: absolute; display: inline-block; left: 0px; top: 247.262px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 261.842px; width: 556.945px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Oil swaps<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 118.272px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 112.576px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">0-1 year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span></span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>20<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5</span><span style="position: absolute; display: inline-block; left: 0px; top: 276.732px; width: 556.945px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Buy<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 143.625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>517<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 129.797px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-132<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-135<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3</span><span style="position: absolute; display: inline-block; left: 0px; top: 291.623px; width: 556.734px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Sell<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.033px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>512<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.213px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>157<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>155<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2</span><span style="position: absolute; display: inline-block; left: 0px; top: 321.404px; width: 556.74px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Oil futures<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 118.272px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 112.576px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">0-1 year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span></span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-</span><span style="position: absolute; display: inline-block; left: 0px; top: 336.295px; width: 557.051px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Buy<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>739<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1</span><span style="position: absolute; display: inline-block; left: 0px; top: 351.186px; width: 556.963px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Sell<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.185px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>749<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.619px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1</span><span style="position: absolute; display: inline-block; left: 0px; top: 366.076px; width: 556.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 136.477px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.58px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>30<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The majority of <span class="_ _2"/>the Group’<span class="_ _2"/>s tr<span class="_ _2"/>ading of commodity<span class="_ _2"/> products is r<span class="_ _2"/>elated t<span class="_ _2"/>o inventory<span class="_ _2"/> stocks of crude oil and bunk<span class="_ _2"/>er<span class="_ _2"/> oil, as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the products ar<span class="_ _2"/>e bought in lar<span class="_ _2"/>ger<span class="_ _2"/> quantities and stor<span class="_ _2"/>ed for<span class="_ _2"/> processing and r<span class="_ _2"/>e-sale.<span class="_ _2"/> The oil price risk arising fr<span class="_ _2"/>om <span class="_ _2"/>these oil </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">price exposures is mitig<span class="_ _2"/>ated by<span class="_ _2"/> entering into commodity<span class="_ _2"/> derivative agr<span class="_ _2"/>eements.<span class="_ _2"/> <span class="_ _2"/>The over<span class="_ _2"/>all exposur<span class="_ _2"/>e limit is set in<span class="_ _2"/> the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Group’<span class="_ _2"/>s risk policy<span class="_ _0"/>, defining a maximum net<span class="_ _2"/> open position for<span class="_ _2"/> the Gr<span class="_ _2"/>oup.<span class="_ _2"/> On 31 December<span class="_ _2"/> 2023<span class="_ _2"/>, <span class="_ _2"/>the Group enter<span class="_ _2"/>ed into </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">oil derivative positions as sho<span class="_ _2"/>wn in the <span class="_ _2"/>table.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group’<span class="_ _2"/>s sensitivity <span class="_ _2"/>to an incr<span class="_ _2"/>ease in the oil price of 5% is estima<span class="_ _2"/>ted, al<span class="_ _2"/>l else being equal, <span class="_ _2"/>to affect<span class="_ _2"/> profit<span class="_ _2"/> and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">equity befor<span class="_ _2"/>e tax ne<span class="_ _2"/>gatively<span class="_ _2"/> by<span class="_ _2"/> approx.<span class="_ _2"/> USD 2<span class="_ _2"/>4m (negativel<span class="_ _2"/>y by<span class="_ _2"/> USD 21m),<span class="_ _2"/> and negativel<span class="_ _2"/>y by<span class="_ _2"/> USD 2<span class="_ _2"/>4m (negativel<span class="_ _2"/>y<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD 21m), respectivel<span class="_ _2"/>y<span class="_ _2"/>.<span class="_ _2"/> The sensitivities ar<span class="_ _2"/>e based on the impact<span class="_ _2"/> of financial instruments tha<span class="_ _2"/>t are outstanding a<span class="_ _2"/>t the<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">balance sheet dat<span class="_ _2"/>e.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:149.1875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 50.0566px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Credit risk</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 557.051px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Maturity anal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ysis of tr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ade receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.018px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 49.3574px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Receivables not<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> due<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 357.709px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,587<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,220</span><span style="position: absolute; display: inline-block; left: 0px; top: 64.248px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Less than 90 da<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ys over<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>due<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 326.906px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,140<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,660</span><span style="position: absolute; display: inline-block; left: 0px; top: 79.1387px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">91 – 365 days over<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>due<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 353.215px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>253<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>264</span><span style="position: absolute; display: inline-block; left: 0px; top: 94.0293px; width: 556.916px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">More than 1 year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> overdue<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 340.565px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">127<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>92</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 108.92px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Receivables, gr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>oss<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 365.162px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,107<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,236</span><span style="position: absolute; display: inline-block; left: 0px; top: 123.811px; width: 556.986px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Provision<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> bad debt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 357.709px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>226<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>265</span><span style="position: absolute; display: inline-block; left: 0px; top: 138.701px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Carrying amount<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 370.365px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,881<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6,971</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The loss allowanc<span class="_ _2"/>e provision f<span class="_ _2"/>or <span class="_ _2"/>tr<span class="_ _2"/>ade receiv<span class="_ _2"/>ables as at 31 December<span class="_ _2"/> 2023 r<span class="_ _2"/>econciles to <span class="_ _2"/>the opening loss allowance </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as follows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:154.296875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 557.092px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Change in pr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ovision for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> bad debt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 302.935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.7012px; width: 556.734px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 415.072px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">265<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>205</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5918px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Provision<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> made<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 389.396px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>258<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>331</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Amount used<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 404.636px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>88<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>105</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Amount r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>eversed<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 380.197px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>210<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>165</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 556.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Acquired in business c<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ombinations<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 312.117px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13</span><span style="position: absolute; display: inline-block; left: 0px; top: 98.3887px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposal on the sale of businesses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 314.127px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-</span><span style="position: absolute; display: inline-block; left: 0px; top: 114.045px; width: 556.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 329.889px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13</span><span style="position: absolute; display: inline-block; left: 0px; top: 128.936px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments and others<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 295.342px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1</span><span style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 397.305px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>226<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>265</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _2"/>rade receivables</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group has exposur<span class="_ _2"/>e to financial and c<span class="_ _2"/>ommercial counterparties but<span class="_ _2"/> has no particular<span class="_ _2"/> concentr<span class="_ _2"/>ation of customers or<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">suppliers.<span class="_ _2"/> T<span class="_ _0"/>o minimise the cr<span class="_ _2"/>edit risk,<span class="_ _2"/> financial v<span class="_ _2"/>etting is undertaken f<span class="_ _2"/>or al<span class="_ _2"/>l major<span class="_ _2"/> customers and financial institutions,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">adequate security<span class="_ _2"/> is required f<span class="_ _2"/>or<span class="_ _2"/> commercial count<span class="_ _2"/>erparties, and cr<span class="_ _2"/>edit limits ar<span class="_ _2"/>e set f<span class="_ _2"/>or financial institutions and k<span class="_ _2"/>ey<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">commercial count<span class="_ _2"/>erparties.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group applies <span class="_ _2"/>the simplified approach <span class="_ _2"/>to pro<span class="_ _2"/>viding the expected cr<span class="_ _2"/>edit losses pr<span class="_ _2"/>escribed by IFRS 9<span class="_ _2"/>,<span class="_ _2"/> which permits </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the use of the lifetime e<span class="_ _2"/>xpected loss pro<span class="_ _2"/>vision for<span class="_ _2"/> all <span class="_ _2"/>trade r<span class="_ _2"/>eceivables.<span class="_ _2"/> <span class="_ _2"/>T<span class="_ _0"/>o measure the e<span class="_ _2"/>xpected credit<span class="_ _2"/> losses,<span class="_ _2"/> tr<span class="_ _2"/>ade <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">receivables hav<span class="_ _2"/>e been grouped based on shar<span class="_ _2"/>ed credit<span class="_ _2"/> risk charact<span class="_ _2"/>eristics and the days past<span class="_ _2"/> due.<span class="_ _2"/> In accor<span class="_ _2"/>dance with IFRS 9<span class="_ _2"/>, <span class="_ _0"/><span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">non-due tr<span class="_ _2"/>ade receiv<span class="_ _2"/>ables have also been consider<span class="_ _2"/>ed for<span class="_ _2"/> impairment.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Approximat<span class="_ _2"/>ely 50% (31%) o<span class="_ _2"/>f the pro<span class="_ _2"/>vision for<span class="_ _2"/> bad debt is r<span class="_ _2"/>elated <span class="_ _2"/>to tr<span class="_ _2"/>ade rec<span class="_ _2"/>eivables over<span class="_ _2"/>due by mor<span class="_ _2"/>e than one <span class="_ _2"/>year<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _2"/> financial assets at amortised cost</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _2"/> financial assets at amortised cost<span class="_ _2"/> comprise loans receiv<span class="_ _2"/>able,<span class="_ _2"/> finance lease receiv<span class="_ _2"/>ables and other r<span class="_ _2"/>eceivables<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">These financial assets are consider<span class="_ _2"/>ed to ha<span class="_ _2"/>ve low credit<span class="_ _2"/> risk,<span class="_ _2"/> and thus the impairmen<span class="_ _2"/>t pro<span class="_ _2"/>vision calculated based <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on 12 months of expected losses is c<span class="_ _2"/>onsidered immaterial.<span class="_ _2"/> <span class="_ _2"/>The financial assets are consider<span class="_ _2"/>ed to be lo<span class="_ _2"/>w-risk when<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">they ha<span class="_ _2"/>ve a low risk of defaul<span class="_ _2"/>t, and <span class="_ _2"/>the issuer<span class="_ _2"/> has a strong capacity<span class="_ _2"/> to meet<span class="_ _2"/> its contr<span class="_ _2"/>actual cash flow obligations<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the near t<span class="_ _2"/>erm.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial institutions</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deposits and bank balances are primaril<span class="_ _2"/>y held in r<span class="_ _2"/>elationship banks with a cr<span class="_ _2"/>edit r<span class="_ _2"/>ating of at<span class="_ _2"/> least <span class="_ _2"/>A-.<span class="_ _2"/> No individual </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">exposure is above 10%. <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _0"/> - Maersk has ISDA agreements f<span class="_ _2"/>or<span class="_ _2"/> tr<span class="_ _2"/>ading of derivatives<span class="_ _2"/>, under<span class="_ _0"/> which the Group has </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a right<span class="_ _2"/> to net<span class="_ _2"/> settlement in<span class="_ _2"/> the even<span class="_ _2"/>t of certain cr<span class="_ _2"/>edit even<span class="_ _2"/>ts.<span class="_ _2"/> This r<span class="_ _2"/>esults in <span class="_ _2"/>the credit<span class="_ _2"/> risk being limited to <span class="_ _2"/>the net </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">posi<span class="_ _1"/>tion<span class="_ _1"/> per coun<span class="_ _2"/>terparty<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The loss allowanc<span class="_ _2"/>e provision f<span class="_ _2"/>or <span class="_ _2"/>tr<span class="_ _2"/>ade receiv<span class="_ _2"/>ables as at 31 December<span class="_ _2"/> 2023 r<span class="_ _2"/>econciles to <span class="_ _2"/>the opening loss allowance </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">as follows:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:154.296875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 557.092px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Change in pr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ovision for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> bad debt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 302.935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.7012px; width: 556.734px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 415.072px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">265<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>205</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5918px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Provision<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> made<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 389.396px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>258<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>331</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Amount used<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 404.636px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>88<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>105</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Amount r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>eversed<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 380.197px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>210<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>165</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 556.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Acquired in business c<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ombinations<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 312.117px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13</span><span style="position: absolute; display: inline-block; left: 0px; top: 98.3887px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposal on the sale of businesses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 314.127px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-</span><span style="position: absolute; display: inline-block; left: 0px; top: 114.045px; width: 556.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfers, assets held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 329.889px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13</span><span style="position: absolute; display: inline-block; left: 0px; top: 128.936px; width: 556.91px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments and others<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 295.342px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.2909px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-1</span><span style="position: absolute; display: inline-block; left: 0px; top: 143.811px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 397.305px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>226<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>265</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _2"/>rade receivables</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group has exposur<span class="_ _2"/>e to financial and c<span class="_ _2"/>ommercial counterparties but<span class="_ _2"/> has no particular<span class="_ _2"/> concentr<span class="_ _2"/>ation of customers or<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">suppliers.<span class="_ _2"/> T<span class="_ _0"/>o minimise the cr<span class="_ _2"/>edit risk,<span class="_ _2"/> financial v<span class="_ _2"/>etting is undertaken f<span class="_ _2"/>or al<span class="_ _2"/>l major<span class="_ _2"/> customers and financial institutions,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">adequate security<span class="_ _2"/> is required f<span class="_ _2"/>or<span class="_ _2"/> commercial count<span class="_ _2"/>erparties, and cr<span class="_ _2"/>edit limits ar<span class="_ _2"/>e set f<span class="_ _2"/>or financial institutions and k<span class="_ _2"/>ey<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">commercial count<span class="_ _2"/>erparties.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group applies <span class="_ _2"/>the simplified approach <span class="_ _2"/>to pro<span class="_ _2"/>viding the expected cr<span class="_ _2"/>edit losses pr<span class="_ _2"/>escribed by IFRS 9<span class="_ _2"/>,<span class="_ _2"/> which permits </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the use of the lifetime e<span class="_ _2"/>xpected loss pro<span class="_ _2"/>vision for<span class="_ _2"/> all <span class="_ _2"/>trade r<span class="_ _2"/>eceivables.<span class="_ _2"/> <span class="_ _2"/>T<span class="_ _0"/>o measure the e<span class="_ _2"/>xpected credit<span class="_ _2"/> losses,<span class="_ _2"/> tr<span class="_ _2"/>ade <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">receivables hav<span class="_ _2"/>e been grouped based on shar<span class="_ _2"/>ed credit<span class="_ _2"/> risk charact<span class="_ _2"/>eristics and the days past<span class="_ _2"/> due.<span class="_ _2"/> In accor<span class="_ _2"/>dance with IFRS 9<span class="_ _2"/>, <span class="_ _0"/><span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">non-due tr<span class="_ _2"/>ade receiv<span class="_ _2"/>ables have also been consider<span class="_ _2"/>ed for<span class="_ _2"/> impairment.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Approximat<span class="_ _2"/>ely 50% (31%) o<span class="_ _2"/>f the pro<span class="_ _2"/>vision for<span class="_ _2"/> bad debt is r<span class="_ _2"/>elated <span class="_ _2"/>to tr<span class="_ _2"/>ade rec<span class="_ _2"/>eivables over<span class="_ _2"/>due by mor<span class="_ _2"/>e than one <span class="_ _2"/>year<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _2"/> financial assets at amortised cost</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _2"/> financial assets at amortised cost<span class="_ _2"/> comprise loans receiv<span class="_ _2"/>able,<span class="_ _2"/> finance lease receiv<span class="_ _2"/>ables and other r<span class="_ _2"/>eceivables<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">These financial assets are consider<span class="_ _2"/>ed to ha<span class="_ _2"/>ve low credit<span class="_ _2"/> risk,<span class="_ _2"/> and thus the impairmen<span class="_ _2"/>t pro<span class="_ _2"/>vision calculated based <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on 12 months of expected losses is c<span class="_ _2"/>onsidered immaterial.<span class="_ _2"/> <span class="_ _2"/>The financial assets are consider<span class="_ _2"/>ed to be lo<span class="_ _2"/>w-risk when<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">they ha<span class="_ _2"/>ve a low risk of defaul<span class="_ _2"/>t, and <span class="_ _2"/>the issuer<span class="_ _2"/> has a strong capacity<span class="_ _2"/> to meet<span class="_ _2"/> its contr<span class="_ _2"/>actual cash flow obligations<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the near t<span class="_ _2"/>erm.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial institutions</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deposits and bank balances are primaril<span class="_ _2"/>y held in r<span class="_ _2"/>elationship banks with a cr<span class="_ _2"/>edit r<span class="_ _2"/>ating of at<span class="_ _2"/> least <span class="_ _2"/>A-.<span class="_ _2"/> No individual </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">exposure is above 10%. <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _0"/> - Maersk has ISDA agreements f<span class="_ _2"/>or<span class="_ _2"/> tr<span class="_ _2"/>ading of derivatives<span class="_ _2"/>, under<span class="_ _0"/> which the Group has </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a right<span class="_ _2"/> to net<span class="_ _2"/> settlement in<span class="_ _2"/> the even<span class="_ _2"/>t of certain cr<span class="_ _2"/>edit even<span class="_ _2"/>ts.<span class="_ _2"/> This r<span class="_ _2"/>esults in <span class="_ _2"/>the credit<span class="_ _2"/> risk being limited to <span class="_ _2"/>the net </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">posi<span class="_ _1"/>tion<span class="_ _1"/> per coun<span class="_ _2"/>terparty<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _2"/>rade receivables</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group has exposur<span class="_ _2"/>e to financial and c<span class="_ _2"/>ommercial counterparties but<span class="_ _2"/> has no particular<span class="_ _2"/> concentr<span class="_ _2"/>ation of customers or<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">suppliers.<span class="_ _2"/> T<span class="_ _0"/>o minimise the cr<span class="_ _2"/>edit risk,<span class="_ _2"/> financial v<span class="_ _2"/>etting is undertaken f<span class="_ _2"/>or al<span class="_ _2"/>l major<span class="_ _2"/> customers and financial institutions,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">adequate security<span class="_ _2"/> is required f<span class="_ _2"/>or<span class="_ _2"/> commercial count<span class="_ _2"/>erparties, and cr<span class="_ _2"/>edit limits ar<span class="_ _2"/>e set f<span class="_ _2"/>or financial institutions and k<span class="_ _2"/>ey<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">commercial count<span class="_ _2"/>erparties.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group applies <span class="_ _2"/>the simplified approach <span class="_ _2"/>to pro<span class="_ _2"/>viding the expected cr<span class="_ _2"/>edit losses pr<span class="_ _2"/>escribed by IFRS 9<span class="_ _2"/>,<span class="_ _2"/> which permits </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the use of the lifetime e<span class="_ _2"/>xpected loss pro<span class="_ _2"/>vision for<span class="_ _2"/> all <span class="_ _2"/>trade r<span class="_ _2"/>eceivables.<span class="_ _2"/> <span class="_ _2"/>T<span class="_ _0"/>o measure the e<span class="_ _2"/>xpected credit<span class="_ _2"/> losses,<span class="_ _2"/> tr<span class="_ _2"/>ade <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">receivables hav<span class="_ _2"/>e been grouped based on shar<span class="_ _2"/>ed credit<span class="_ _2"/> risk charact<span class="_ _2"/>eristics and the days past<span class="_ _2"/> due.<span class="_ _2"/> In accor<span class="_ _2"/>dance with IFRS 9<span class="_ _2"/>, <span class="_ _0"/><span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">non-due tr<span class="_ _2"/>ade receiv<span class="_ _2"/>ables have also been consider<span class="_ _2"/>ed for<span class="_ _2"/> impairment.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Approximat<span class="_ _2"/>ely 50% (31%) o<span class="_ _2"/>f the pro<span class="_ _2"/>vision for<span class="_ _2"/> bad debt is r<span class="_ _2"/>elated <span class="_ _2"/>to tr<span class="_ _2"/>ade rec<span class="_ _2"/>eivables over<span class="_ _2"/>due by mor<span class="_ _2"/>e than one <span class="_ _2"/>year<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _2"/> financial assets at amortised cost</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _2"/> financial assets at amortised cost<span class="_ _2"/> comprise loans receiv<span class="_ _2"/>able,<span class="_ _2"/> finance lease receiv<span class="_ _2"/>ables and other r<span class="_ _2"/>eceivables<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">These financial assets are consider<span class="_ _2"/>ed to ha<span class="_ _2"/>ve low credit<span class="_ _2"/> risk,<span class="_ _2"/> and thus the impairmen<span class="_ _2"/>t pro<span class="_ _2"/>vision calculated based <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on 12 months of expected losses is c<span class="_ _2"/>onsidered immaterial.<span class="_ _2"/> <span class="_ _2"/>The financial assets are consider<span class="_ _2"/>ed to be lo<span class="_ _2"/>w-risk when<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">they ha<span class="_ _2"/>ve a low risk of defaul<span class="_ _2"/>t, and <span class="_ _2"/>the issuer<span class="_ _2"/> has a strong capacity<span class="_ _2"/> to meet<span class="_ _2"/> its contr<span class="_ _2"/>actual cash flow obligations<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the near t<span class="_ _2"/>erm.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial institutions</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deposits and bank balances are primaril<span class="_ _2"/>y held in r<span class="_ _2"/>elationship banks with a cr<span class="_ _2"/>edit r<span class="_ _2"/>ating of at<span class="_ _2"/> least <span class="_ _2"/>A-.<span class="_ _2"/> No individual </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">exposure is above 10%. <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _0"/> - Maersk has ISDA agreements f<span class="_ _2"/>or<span class="_ _2"/> tr<span class="_ _2"/>ading of derivatives<span class="_ _2"/>, under<span class="_ _0"/> which the Group has </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">a right<span class="_ _2"/> to net<span class="_ _2"/> settlement in<span class="_ _2"/> the even<span class="_ _2"/>t of certain cr<span class="_ _2"/>edit even<span class="_ _2"/>ts.<span class="_ _2"/> This r<span class="_ _2"/>esults in <span class="_ _2"/>the credit<span class="_ _2"/> risk being limited to <span class="_ _2"/>the net </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">posi<span class="_ _1"/>tion<span class="_ _1"/> per coun<span class="_ _2"/>terparty<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">For<span class="_ _2"/> information about<span class="_ _2"/> cash and bank balances in countries with<span class="_ _2"/> exchange contr<span class="_ _2"/>ol or<span class="_ _2"/> other r<span class="_ _2"/>estrictions,<span class="_ _2"/> ref<span class="_ _2"/>er<span class="_ _2"/> to note 5<span class="_ _2"/>.5 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Cash flow specifications<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Derivative financial instruments<span class="ff3"> are reco<span class="_ _2"/>gnised on the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trading da<span class="_ _2"/>te and measured at<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue using gener<span class="_ _2"/>ally<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acknowledged v<span class="_ _2"/>aluation <span class="_ _2"/>techniques based on rele<span class="_ _2"/>vant </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">observable swap curv<span class="_ _2"/>es and exchange r<span class="_ _2"/>ates.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The effective portion of chang<span class="_ _2"/>es in the <span class="_ _2"/>value of deriv<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ative financial instruments designat<span class="_ _2"/>ed to hedge highl<span class="_ _2"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">probable futur<span class="_ _2"/>e tr<span class="_ _2"/>ansactions is reco<span class="_ _2"/>gnised in other<span class="_ _2"/> com-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prehensive income un<span class="_ _2"/>til the hedged <span class="_ _2"/>transactions ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">realised.<span class="_ _2"/> A<span class="_ _2"/>t that<span class="_ _2"/> time, the accumulated gains/losses are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _2"/>erred to the items in which the hedged trans <span class="_ _4"/>actions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _2"/>ecognised.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The effective portion<span class="_ _2"/> of changes in the <span class="_ _2"/>value of de<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rivative financial instrumen<span class="_ _2"/>ts used to hedge <span class="_ _2"/>the v<span class="_ _2"/>alue of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised financial assets and liabilities is recognised in<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _2"/> to<span class="_ _2"/>gether<span class="_ _2"/> with changes in <span class="_ _2"/>the fair<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value of <span class="_ _2"/>the hedged assets or<span class="_ _2"/> liabilities that<span class="_ _2"/> can be attrib<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">uted t<span class="_ _2"/>o the hedging rela<span class="_ _2"/>tionship. Curr<span class="_ _2"/>ency basis spr<span class="_ _2"/>ead </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and forwar<span class="_ _2"/>d points are consider<span class="_ _2"/>ed a cost<span class="_ _2"/> of hedging and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised in other<span class="_ _2"/> comprehensive income and def<span class="_ _2"/>erred </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equity until r<span class="_ _2"/>ealisation.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The ineffective portion of hedg<span class="_ _2"/>e tr<span class="_ _2"/>ansactions and changes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the f<span class="_ _2"/>air <span class="_ _2"/>values of deriv<span class="_ _2"/>ative financial instruments,<span class="_ _2"/> which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">do not qualify<span class="_ _2"/> for<span class="_ _2"/> hedge accounting,<span class="_ _2"/> are r<span class="_ _2"/>ecognised in <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement<span class="_ _2"/> as financial income or<span class="_ _2"/> expenses for<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inter<span class="_ _2"/>est and currency<span class="_ _0"/>-based instruments, and as other<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income/<span class="_ _2"/>costs for<span class="_ _0"/> oil price hedges and forward fr<span class="_ _2"/>eight </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">agreements<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Derivative financial instruments<span class="ff3"> are reco<span class="_ _2"/>gnised on the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trading da<span class="_ _2"/>te and measured at<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue using gener<span class="_ _2"/>ally<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acknowledged v<span class="_ _2"/>aluation <span class="_ _2"/>techniques based on rele<span class="_ _2"/>vant </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">observable swap curv<span class="_ _2"/>es and exchange r<span class="_ _2"/>ates.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The effective portion of chang<span class="_ _2"/>es in the <span class="_ _2"/>value of deriv<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ative financial instruments designat<span class="_ _2"/>ed to hedge highl<span class="_ _2"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">probable futur<span class="_ _2"/>e tr<span class="_ _2"/>ansactions is reco<span class="_ _2"/>gnised in other<span class="_ _2"/> com-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prehensive income un<span class="_ _2"/>til the hedged <span class="_ _2"/>transactions ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">realised.<span class="_ _2"/> A<span class="_ _2"/>t that<span class="_ _2"/> time, the accumulated gains/losses are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _2"/>erred to the items in which the hedged trans <span class="_ _4"/>actions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _2"/>ecognised.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The effective portion<span class="_ _2"/> of changes in the <span class="_ _2"/>value of de<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rivative financial instrumen<span class="_ _2"/>ts used to hedge <span class="_ _2"/>the v<span class="_ _2"/>alue of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised financial assets and liabilities is recognised in<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _2"/> to<span class="_ _2"/>gether<span class="_ _2"/> with changes in <span class="_ _2"/>the fair<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value of <span class="_ _2"/>the hedged assets or<span class="_ _2"/> liabilities that<span class="_ _2"/> can be attrib<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">uted t<span class="_ _2"/>o the hedging rela<span class="_ _2"/>tionship. Curr<span class="_ _2"/>ency basis spr<span class="_ _2"/>ead </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and forwar<span class="_ _2"/>d points are consider<span class="_ _2"/>ed a cost<span class="_ _2"/> of hedging and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised in other<span class="_ _2"/> comprehensive income and def<span class="_ _2"/>erred </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equity until r<span class="_ _2"/>ealisation.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The ineffective portion of hedg<span class="_ _2"/>e tr<span class="_ _2"/>ansactions and changes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the f<span class="_ _2"/>air <span class="_ _2"/>values of deriv<span class="_ _2"/>ative financial instruments,<span class="_ _2"/> which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">do not qualify<span class="_ _2"/> for<span class="_ _2"/> hedge accounting,<span class="_ _2"/> are r<span class="_ _2"/>ecognised in <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement<span class="_ _2"/> as financial income or<span class="_ _2"/> expenses for<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inter<span class="_ _2"/>est and currency<span class="_ _0"/>-based instruments, and as other<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income/<span class="_ _2"/>costs for<span class="_ _0"/> oil price hedges and forward fr<span class="_ _2"/>eight </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">agreements<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Derivative financial instruments<span class="ff3"> are reco<span class="_ _2"/>gnised on the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trading da<span class="_ _2"/>te and measured at<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue using gener<span class="_ _2"/>ally<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acknowledged v<span class="_ _2"/>aluation <span class="_ _2"/>techniques based on rele<span class="_ _2"/>vant </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">observable swap curv<span class="_ _2"/>es and exchange r<span class="_ _2"/>ates.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The effective portion of chang<span class="_ _2"/>es in the <span class="_ _2"/>value of deriv<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ative financial instruments designat<span class="_ _2"/>ed to hedge highl<span class="_ _2"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">probable futur<span class="_ _2"/>e tr<span class="_ _2"/>ansactions is reco<span class="_ _2"/>gnised in other<span class="_ _2"/> com-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prehensive income un<span class="_ _2"/>til the hedged <span class="_ _2"/>transactions ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">realised.<span class="_ _2"/> A<span class="_ _2"/>t that<span class="_ _2"/> time, the accumulated gains/losses are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _2"/>erred to the items in which the hedged trans <span class="_ _4"/>actions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _2"/>ecognised.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The effective portion<span class="_ _2"/> of changes in the <span class="_ _2"/>value of de<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rivative financial instrumen<span class="_ _2"/>ts used to hedge <span class="_ _2"/>the v<span class="_ _2"/>alue of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised financial assets and liabilities is recognised in<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _2"/> to<span class="_ _2"/>gether<span class="_ _2"/> with changes in <span class="_ _2"/>the fair<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value of <span class="_ _2"/>the hedged assets or<span class="_ _2"/> liabilities that<span class="_ _2"/> can be attrib<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">uted t<span class="_ _2"/>o the hedging rela<span class="_ _2"/>tionship. Curr<span class="_ _2"/>ency basis spr<span class="_ _2"/>ead </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and forwar<span class="_ _2"/>d points are consider<span class="_ _2"/>ed a cost<span class="_ _2"/> of hedging and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised in other<span class="_ _2"/> comprehensive income and def<span class="_ _2"/>erred </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equity until r<span class="_ _2"/>ealisation.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The ineffective portion of hedg<span class="_ _2"/>e tr<span class="_ _2"/>ansactions and changes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the f<span class="_ _2"/>air <span class="_ _2"/>values of deriv<span class="_ _2"/>ative financial instruments,<span class="_ _2"/> which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">do not qualify<span class="_ _2"/> for<span class="_ _2"/> hedge accounting,<span class="_ _2"/> are r<span class="_ _2"/>ecognised in <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement<span class="_ _2"/> as financial income or<span class="_ _2"/> expenses for<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inter<span class="_ _2"/>est and currency<span class="_ _0"/>-based instruments, and as other<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income/<span class="_ _2"/>costs for<span class="_ _0"/> oil price hedges and forward fr<span class="_ _2"/>eight </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">agreements<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Derivative financial instruments<span class="ff3"> are reco<span class="_ _2"/>gnised on the </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">trading da<span class="_ _2"/>te and measured at<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue using gener<span class="_ _2"/>ally<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">acknowledged v<span class="_ _2"/>aluation <span class="_ _2"/>techniques based on rele<span class="_ _2"/>vant </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">observable swap curv<span class="_ _2"/>es and exchange r<span class="_ _2"/>ates.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The effective portion of chang<span class="_ _2"/>es in the <span class="_ _2"/>value of deriv<span class="_ _2"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ative financial instruments designat<span class="_ _2"/>ed to hedge highl<span class="_ _2"/>y </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">probable futur<span class="_ _2"/>e tr<span class="_ _2"/>ansactions is reco<span class="_ _2"/>gnised in other<span class="_ _2"/> com-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">prehensive income un<span class="_ _2"/>til the hedged <span class="_ _2"/>transactions ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">realised.<span class="_ _2"/> A<span class="_ _2"/>t that<span class="_ _2"/> time, the accumulated gains/losses are </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transf<span class="_ _2"/>erred to the items in which the hedged trans <span class="_ _4"/>actions </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">are r<span class="_ _2"/>ecognised.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The effective portion<span class="_ _2"/> of changes in the <span class="_ _2"/>value of de<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">rivative financial instrumen<span class="_ _2"/>ts used to hedge <span class="_ _2"/>the v<span class="_ _2"/>alue of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised financial assets and liabilities is recognised in<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the income statement<span class="_ _2"/> to<span class="_ _2"/>gether<span class="_ _2"/> with changes in <span class="_ _2"/>the fair<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">value of <span class="_ _2"/>the hedged assets or<span class="_ _2"/> liabilities that<span class="_ _2"/> can be attrib<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">uted t<span class="_ _2"/>o the hedging rela<span class="_ _2"/>tionship. Curr<span class="_ _2"/>ency basis spr<span class="_ _2"/>ead </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and forwar<span class="_ _2"/>d points are consider<span class="_ _2"/>ed a cost<span class="_ _2"/> of hedging and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised in other<span class="_ _2"/> comprehensive income and def<span class="_ _2"/>erred </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in equity until r<span class="_ _2"/>ealisation.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The ineffective portion of hedg<span class="_ _2"/>e tr<span class="_ _2"/>ansactions and changes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the f<span class="_ _2"/>air <span class="_ _2"/>values of deriv<span class="_ _2"/>ative financial instruments,<span class="_ _2"/> which </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">do not qualify<span class="_ _2"/> for<span class="_ _2"/> hedge accounting,<span class="_ _2"/> are r<span class="_ _2"/>ecognised in <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income statement<span class="_ _2"/> as financial income or<span class="_ _2"/> expenses for<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inter<span class="_ _2"/>est and currency<span class="_ _0"/>-based instruments, and as other<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income/<span class="_ _2"/>costs for<span class="_ _0"/> oil price hedges and forward fr<span class="_ _2"/>eight </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">agreements<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 4.6 <span class="_ _64"> </span>Financial instruments by cat<span class="_ _2"/>egory</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:612.552734375px;"><span style="position: absolute; display: inline-block; left: 509.609px; top: 0.0078125px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 509.426px; top: 0.138672px; width: 2.35547px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 296.859px; top: 0.138672px; width: 167.508px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Carrying amount<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 88.7873px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 301.75px; top: 24.8105px; width: 255.141px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 49.793px; width: 112.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carried at amortised cost</span><span style="position: absolute; display: inline-block; left: 0px; top: 64.373px; width: 556.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Loan receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.424px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,956<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17,677<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,973<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17,618</span><span style="position: absolute; display: inline-block; left: 0px; top: 79.2637px; width: 403.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 232.588px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>49<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13</span><span style="position: absolute; display: inline-block; left: 0px; top: 94.1543px; width: 403.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> interest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-bearing receivables and deposits<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 85.8165px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>117<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>106</span><span style="position: absolute; display: inline-block; left: 0px; top: 109.045px; width: 403.852px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ade receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 217.306px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,881<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,971</span><span style="position: absolute; display: inline-block; left: 0px; top: 123.936px; width: 403.611px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables (non-interest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-bearing) <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.393px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,712<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,680</span><span style="position: absolute; display: inline-block; left: 0px; top: 138.826px; width: 404.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Securities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 274.488px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>942</span><span style="position: absolute; display: inline-block; left: 0px; top: 153.717px; width: 403.811px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cash and bank balances<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 186.522px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,701<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10,057</span><span style="position: absolute; display: inline-block; left: 0px; top: 168.592px; width: 403.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial assets at amortised cost<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.367px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>27,416<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>37,446</span><span style="position: absolute; display: inline-block; left: 0px; top: 198.389px; width: 403.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Derivativ<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>es<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 253.623px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>148<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>208</span><span style="position: absolute; display: inline-block; left: 0px; top: 228.48px; width: 175.371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carried at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value through profit/loss</span><span style="position: absolute; display: inline-block; left: 188.594px; top: 242.977px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 243.061px; width: 187.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables (non-interest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-bearing)</span><span style="position: absolute; display: inline-block; left: 320.406px; top: 243.092px; width: 83.4258px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3</span><span style="position: absolute; display: inline-block; left: 0px; top: 259.545px; width: 406.172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Securities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 274.488px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 274.436px; width: 404.033px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial assets at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> value thr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ough profit or<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> loss<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.1935px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 68.0685px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3</span><span style="position: absolute; display: inline-block; left: 0px; top: 304.527px; width: 249.68px; white-space: pre; word-spacing: 0px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carried at fair<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value through other<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> comprehensive income</span><span style="position: absolute; display: inline-block; left: 126.047px; top: 318.977px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 0px; top: 319.107px; width: 126.246px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Equity inv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>estments (FVOCI)</span><span style="position: absolute; display: inline-block; left: 307.578px; top: 319.107px; width: 95.6895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">398<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>377</span><span style="position: absolute; display: inline-block; left: 0px; top: 333.998px; width: 403.852px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial assets at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> value thr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ough OCI<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 111.709px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>398<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>377</span><span style="position: absolute; display: inline-block; left: 0px; top: 363.795px; width: 403.617px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal financial assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.09px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>27,962<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>38,034</span><span style="position: absolute; display: inline-block; left: 0px; top: 393.887px; width: 112.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carried at amortised cost</span><span style="position: absolute; display: inline-block; left: 0px; top: 408.467px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bank and other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> credit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> institutions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 150.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>973<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,053<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,000<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,054</span><span style="position: absolute; display: inline-block; left: 0px; top: 423.357px; width: 403.77px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 220.16px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10,448<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11,614</span><span style="position: absolute; display: inline-block; left: 0px; top: 438.248px; width: 556.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Issued bonds<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 236.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,393<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,976<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,339<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,855</span><span style="position: absolute; display: inline-block; left: 0px; top: 453.139px; width: 403.77px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ade payables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,401<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,804</span><span style="position: absolute; display: inline-block; left: 0px; top: 468.029px; width: 403.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> payables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,500<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,716</span><span style="position: absolute; display: inline-block; left: 0px; top: 482.904px; width: 403.787px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial liabilities at amortised cost<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 113.508px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>22,715<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>24,163</span><span style="position: absolute; display: inline-block; left: 0px; top: 512.701px; width: 403.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Derivativ<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>es<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 253.623px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>395<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>572</span><span style="position: absolute; display: inline-block; left: 0px; top: 542.793px; width: 88.1543px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carried at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value</span><span style="position: absolute; display: inline-block; left: 0px; top: 557.373px; width: 403.893px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> payables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.148px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>130</span><span style="position: absolute; display: inline-block; left: 0px; top: 572.264px; width: 403.764px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial liabilities at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> value<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.324px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>130</span><span style="position: absolute; display: inline-block; left: 0px; top: 602.061px; width: 403.594px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal financial liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 174.844px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>23,126<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>24,865</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Relates <span class="_ _2"/>to contingent c<span class="_ _2"/>onsiderations r<span class="_ _2"/>eceivable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Designated at<span class="_ _2"/> initial recognition in ac<span class="_ _2"/>cordance with IFRS 9<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Where no fair <span class="_ _2"/>value is stated,<span class="_ _2"/> the amount<span class="_ _2"/> equals carrying amount.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 4.6 <span class="_ _64"> </span>Financial instruments by cat<span class="_ _2"/>egory</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:612.552734375px;"><span style="position: absolute; display: inline-block; left: 509.609px; top: 0.0078125px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 509.426px; top: 0.138672px; width: 2.35547px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 296.859px; top: 0.138672px; width: 167.508px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Carrying amount<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 88.7873px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 301.75px; top: 24.8105px; width: 255.141px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 49.793px; width: 112.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carried at amortised cost</span><span style="position: absolute; display: inline-block; left: 0px; top: 64.373px; width: 556.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Loan receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.424px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,956<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17,677<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,973<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17,618</span><span style="position: absolute; display: inline-block; left: 0px; top: 79.2637px; width: 403.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 232.588px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>49<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13</span><span style="position: absolute; display: inline-block; left: 0px; top: 94.1543px; width: 403.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> interest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-bearing receivables and deposits<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 85.8165px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>117<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>106</span><span style="position: absolute; display: inline-block; left: 0px; top: 109.045px; width: 403.852px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ade receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 217.306px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,881<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,971</span><span style="position: absolute; display: inline-block; left: 0px; top: 123.936px; width: 403.611px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables (non-interest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-bearing) <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.393px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,712<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,680</span><span style="position: absolute; display: inline-block; left: 0px; top: 138.826px; width: 404.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Securities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 274.488px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>942</span><span style="position: absolute; display: inline-block; left: 0px; top: 153.717px; width: 403.811px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cash and bank balances<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 186.522px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,701<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10,057</span><span style="position: absolute; display: inline-block; left: 0px; top: 168.592px; width: 403.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial assets at amortised cost<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.367px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>27,416<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>37,446</span><span style="position: absolute; display: inline-block; left: 0px; top: 198.389px; width: 403.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Derivativ<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>es<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 253.623px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>148<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>208</span><span style="position: absolute; display: inline-block; left: 0px; top: 228.48px; width: 175.371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carried at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value through profit/loss</span><span style="position: absolute; display: inline-block; left: 188.594px; top: 242.977px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 243.061px; width: 187.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables (non-interest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-bearing)</span><span style="position: absolute; display: inline-block; left: 320.406px; top: 243.092px; width: 83.4258px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3</span><span style="position: absolute; display: inline-block; left: 0px; top: 259.545px; width: 406.172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Securities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 274.488px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 274.436px; width: 404.033px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial assets at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> value thr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ough profit or<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> loss<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.1935px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 68.0685px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3</span><span style="position: absolute; display: inline-block; left: 0px; top: 304.527px; width: 249.68px; white-space: pre; word-spacing: 0px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carried at fair<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value through other<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> comprehensive income</span><span style="position: absolute; display: inline-block; left: 126.047px; top: 318.977px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 0px; top: 319.107px; width: 126.246px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Equity inv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>estments (FVOCI)</span><span style="position: absolute; display: inline-block; left: 307.578px; top: 319.107px; width: 95.6895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">398<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>377</span><span style="position: absolute; display: inline-block; left: 0px; top: 333.998px; width: 403.852px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial assets at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> value thr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ough OCI<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 111.709px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>398<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>377</span><span style="position: absolute; display: inline-block; left: 0px; top: 363.795px; width: 403.617px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal financial assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.09px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>27,962<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>38,034</span><span style="position: absolute; display: inline-block; left: 0px; top: 393.887px; width: 112.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carried at amortised cost</span><span style="position: absolute; display: inline-block; left: 0px; top: 408.467px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bank and other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> credit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> institutions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 150.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>973<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,053<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,000<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,054</span><span style="position: absolute; display: inline-block; left: 0px; top: 423.357px; width: 403.77px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 220.16px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10,448<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11,614</span><span style="position: absolute; display: inline-block; left: 0px; top: 438.248px; width: 556.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Issued bonds<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 236.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,393<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,976<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,339<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,855</span><span style="position: absolute; display: inline-block; left: 0px; top: 453.139px; width: 403.77px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ade payables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,401<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,804</span><span style="position: absolute; display: inline-block; left: 0px; top: 468.029px; width: 403.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> payables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,500<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,716</span><span style="position: absolute; display: inline-block; left: 0px; top: 482.904px; width: 403.787px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial liabilities at amortised cost<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 113.508px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>22,715<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>24,163</span><span style="position: absolute; display: inline-block; left: 0px; top: 512.701px; width: 403.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Derivativ<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>es<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 253.623px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>395<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>572</span><span style="position: absolute; display: inline-block; left: 0px; top: 542.793px; width: 88.1543px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carried at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value</span><span style="position: absolute; display: inline-block; left: 0px; top: 557.373px; width: 403.893px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> payables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.148px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>130</span><span style="position: absolute; display: inline-block; left: 0px; top: 572.264px; width: 403.764px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial liabilities at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> value<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.324px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>130</span><span style="position: absolute; display: inline-block; left: 0px; top: 602.061px; width: 403.594px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal financial liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 174.844px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>23,126<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>24,865</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Relates <span class="_ _2"/>to contingent c<span class="_ _2"/>onsiderations r<span class="_ _2"/>eceivable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Designated at<span class="_ _2"/> initial recognition in ac<span class="_ _2"/>cordance with IFRS 9<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Where no fair <span class="_ _2"/>value is stated,<span class="_ _2"/> the amount<span class="_ _2"/> equals carrying amount.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 4.6 <span class="_ _64"> </span>Financial instruments by cat<span class="_ _2"/>egory</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:612.552734375px;"><span style="position: absolute; display: inline-block; left: 509.609px; top: 0.0078125px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 509.426px; top: 0.138672px; width: 2.35547px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 296.859px; top: 0.138672px; width: 167.508px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Carrying amount<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 88.7873px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 301.75px; top: 24.8105px; width: 255.141px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 49.793px; width: 112.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carried at amortised cost</span><span style="position: absolute; display: inline-block; left: 0px; top: 64.373px; width: 556.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Loan receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.424px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,956<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17,677<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,973<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17,618</span><span style="position: absolute; display: inline-block; left: 0px; top: 79.2637px; width: 403.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 232.588px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>49<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13</span><span style="position: absolute; display: inline-block; left: 0px; top: 94.1543px; width: 403.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> interest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-bearing receivables and deposits<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 85.8165px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>117<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>106</span><span style="position: absolute; display: inline-block; left: 0px; top: 109.045px; width: 403.852px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ade receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 217.306px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,881<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,971</span><span style="position: absolute; display: inline-block; left: 0px; top: 123.936px; width: 403.611px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables (non-interest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-bearing) <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.393px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,712<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,680</span><span style="position: absolute; display: inline-block; left: 0px; top: 138.826px; width: 404.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Securities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 274.488px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>942</span><span style="position: absolute; display: inline-block; left: 0px; top: 153.717px; width: 403.811px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cash and bank balances<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 186.522px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,701<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10,057</span><span style="position: absolute; display: inline-block; left: 0px; top: 168.592px; width: 403.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial assets at amortised cost<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.367px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>27,416<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>37,446</span><span style="position: absolute; display: inline-block; left: 0px; top: 198.389px; width: 403.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Derivativ<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>es<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 253.623px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>148<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>208</span><span style="position: absolute; display: inline-block; left: 0px; top: 228.48px; width: 175.371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carried at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value through profit/loss</span><span style="position: absolute; display: inline-block; left: 188.594px; top: 242.977px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 243.061px; width: 187.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables (non-interest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-bearing)</span><span style="position: absolute; display: inline-block; left: 320.406px; top: 243.092px; width: 83.4258px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3</span><span style="position: absolute; display: inline-block; left: 0px; top: 259.545px; width: 406.172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Securities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 274.488px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 274.436px; width: 404.033px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial assets at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> value thr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ough profit or<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> loss<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.1935px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 68.0685px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3</span><span style="position: absolute; display: inline-block; left: 0px; top: 304.527px; width: 249.68px; white-space: pre; word-spacing: 0px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carried at fair<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value through other<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> comprehensive income</span><span style="position: absolute; display: inline-block; left: 126.047px; top: 318.977px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 0px; top: 319.107px; width: 126.246px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Equity inv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>estments (FVOCI)</span><span style="position: absolute; display: inline-block; left: 307.578px; top: 319.107px; width: 95.6895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">398<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>377</span><span style="position: absolute; display: inline-block; left: 0px; top: 333.998px; width: 403.852px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial assets at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> value thr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ough OCI<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 111.709px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>398<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>377</span><span style="position: absolute; display: inline-block; left: 0px; top: 363.795px; width: 403.617px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal financial assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.09px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>27,962<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>38,034</span><span style="position: absolute; display: inline-block; left: 0px; top: 393.887px; width: 112.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carried at amortised cost</span><span style="position: absolute; display: inline-block; left: 0px; top: 408.467px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bank and other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> credit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> institutions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 150.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>973<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,053<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,000<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,054</span><span style="position: absolute; display: inline-block; left: 0px; top: 423.357px; width: 403.77px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 220.16px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10,448<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11,614</span><span style="position: absolute; display: inline-block; left: 0px; top: 438.248px; width: 556.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Issued bonds<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 236.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,393<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,976<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,339<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,855</span><span style="position: absolute; display: inline-block; left: 0px; top: 453.139px; width: 403.77px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ade payables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,401<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,804</span><span style="position: absolute; display: inline-block; left: 0px; top: 468.029px; width: 403.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> payables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,500<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,716</span><span style="position: absolute; display: inline-block; left: 0px; top: 482.904px; width: 403.787px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial liabilities at amortised cost<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 113.508px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>22,715<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>24,163</span><span style="position: absolute; display: inline-block; left: 0px; top: 512.701px; width: 403.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Derivativ<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>es<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 253.623px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>395<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>572</span><span style="position: absolute; display: inline-block; left: 0px; top: 542.793px; width: 88.1543px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carried at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value</span><span style="position: absolute; display: inline-block; left: 0px; top: 557.373px; width: 403.893px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> payables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.148px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>130</span><span style="position: absolute; display: inline-block; left: 0px; top: 572.264px; width: 403.764px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial liabilities at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> value<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.324px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>130</span><span style="position: absolute; display: inline-block; left: 0px; top: 602.061px; width: 403.594px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal financial liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 174.844px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>23,126<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>24,865</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Relates <span class="_ _2"/>to contingent c<span class="_ _2"/>onsiderations r<span class="_ _2"/>eceivable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Designated at<span class="_ _2"/> initial recognition in ac<span class="_ _2"/>cordance with IFRS 9<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Where no fair <span class="_ _2"/>value is stated,<span class="_ _2"/> the amount<span class="_ _2"/> equals carrying amount.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:300.75px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 128.941px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Movement<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> during the year <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 193.453px; top: 0.0136718px; width: 58.1836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> equity</span><span style="position: absolute; display: inline-block; left: 301.719px; top: 0.0136718px; width: 28.459px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 379.703px; top: 0.0136718px; width: 26.4434px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 453.797px; top: 0.0136718px; width: 28.459px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 534.188px; top: 0.0136718px; width: 26.4434px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 42.4453px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">in level 3</span><span style="position: absolute; display: inline-block; left: 193.453px; top: 12.0137px; width: 58.0781px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">investments</span><span style="position: absolute; display: inline-block; left: 274.25px; top: 12.0137px; width: 52.3711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables</span><span style="position: absolute; display: inline-block; left: 363.266px; top: 12.0137px; width: 42.5801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">financial <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 438.141px; top: 12.0137px; width: 41.7715px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">payables</span><span style="position: absolute; display: inline-block; left: 516.719px; top: 12.0137px; width: 42.5801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">financial <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 217.328px; top: 24.0137px; width: 33.709px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">(FVOCI)</span><span style="position: absolute; display: inline-block; left: 374.75px; top: 24.0137px; width: 29.7188px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">assets</span><span style="position: absolute; display: inline-block; left: 515.359px; top: 24.0137px; width: 42.2461px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">liabilities</span><span style="position: absolute; display: inline-block; left: 0px; top: 48.6855px; width: 556.787px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Carrying amount<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> 1 January 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 73.4239px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 342 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.7989px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 3 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>345<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>130<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>130</span><span style="position: absolute; display: inline-block; left: 0px; top: 63.5762px; width: 556.998px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 25 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 22 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>22</span><span style="position: absolute; display: inline-block; left: 0px; top: 78.4668px; width: 556.957px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 70<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>70</span><span style="position: absolute; display: inline-block; left: 0px; top: 93.3574px; width: 147.047px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gains/losses reco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised in the </span><span style="position: absolute; display: inline-block; left: 0px; top: 105.357px; width: 556.729px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">income statement<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 158.039px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.3906px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-66<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-66</span><span style="position: absolute; display: inline-block; left: 0px; top: 120.248px; width: 156.604px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gains/losses reco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised in other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 132.248px; width: 559.201px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">comprehensive inc<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ome<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 147.139px; width: 556.781px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Carrying amount<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 31 December 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.3906px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>377<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>377<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>16</span><span style="position: absolute; display: inline-block; left: 0px; top: 176.936px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Carrying amount<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> 1 January 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 75.9315px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>263<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>266<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>110<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>110</span><span style="position: absolute; display: inline-block; left: 0px; top: 191.811px; width: 556.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 192.943px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>36<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>36<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>84<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>84</span><span style="position: absolute; display: inline-block; left: 0px; top: 206.701px; width: 556.717px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 193.565px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>28<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>28<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>63<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>63</span><span style="position: absolute; display: inline-block; left: 0px; top: 221.592px; width: 147.047px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gains/losses reco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised in the </span><span style="position: absolute; display: inline-block; left: 0px; top: 233.592px; width: 556.934px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">income statement<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 158.039px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 62.6542px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2</span><span style="position: absolute; display: inline-block; left: 0px; top: 248.482px; width: 156.604px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gains/losses reco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised in other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 260.482px; width: 559.201px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">comprehensive inc<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ome<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>71<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>71<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 275.373px; width: 556.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments, etc.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 245.414px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1</span><span style="position: absolute; display: inline-block; left: 0px; top: 290.264px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Carrying amount<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 31 December 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.3906px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>342<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>345<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>130<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>130</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments measured at<span class="_ _2"/> fair<span class="_ _2"/> value</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments measured at<span class="_ _2"/> fair<span class="_ _2"/> <span class="_ _2"/>value can be divided into <span class="_ _2"/>three lev<span class="_ _2"/>els:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 1 <span class="_ _20"> </span>— <span class="_ _3"/>Quoted prices (unadjusted) in<span class="_ _2"/> active markets f<span class="_ _2"/>or iden<span class="_ _2"/>tical assets or<span class="_ _2"/> liabilities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 2 — <span class="_ _4"/>Inputs other <span class="_ _2"/>than quoted prices included in le<span class="_ _2"/>vel 1 that<span class="_ _2"/> are observ<span class="_ _2"/>able for<span class="_ _2"/> the asset<span class="_ _2"/> or<span class="_ _2"/> liability<span class="_ _2"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">either<span class="_ _2"/> directly<span class="_ _2"/> (i.e.<span class="_ _2"/> as prices) or<span class="_ _2"/> indirectl<span class="_ _2"/>y (i.e<span class="_ _2"/>. derived fr<span class="_ _2"/>om prices) and</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 3 — <span class="_ _4"/>Inputs for<span class="_ _2"/> the asset<span class="_ _2"/> or liability<span class="_ _2"/> that<span class="_ _2"/> are not<span class="_ _2"/> based on observable mark<span class="_ _2"/>et data.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fair<span class="_ _0"/> value of listed securities is within<span class="_ _2"/> level 1 of the f<span class="_ _2"/>air<span class="_ _2"/> value hier<span class="_ _2"/>arch<span class="_ _2"/>y<span class="_ _2"/>.<span class="_ _2"/> Non-listed shares and other<span class="_ _0"/> securities are within </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">level 3 of <span class="_ _2"/>the fair<span class="_ _2"/> v<span class="_ _2"/>alue hierar<span class="_ _2"/>chy<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fair<span class="_ _0"/> value of derivativ<span class="_ _2"/>es is mainly <span class="_ _2"/>within level 2 of <span class="_ _2"/>the fair<span class="_ _2"/> v<span class="_ _2"/>alue hierar<span class="_ _2"/>chy and is calculat<span class="_ _2"/>ed based on observable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market<span class="_ _2"/> data as of the end o<span class="_ _2"/>f the reporting period.<span class="_ _2"/> <span class="_ _2"/>A minor<span class="_ _0"/> amount of crude oil price derivatives is <span class="_ _2"/>within level 1 of <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _2"/> value hier<span class="_ _2"/>archy<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fair<span class="_ _0"/> value of level 3 assets and liabilities is primaril<span class="_ _2"/>y based on <span class="_ _2"/>the present<span class="_ _2"/> v<span class="_ _2"/>alue of expected future cash<span class="_ _2"/> flows.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A r<span class="_ _2"/>easonably<span class="_ _2"/> possible change in the discoun<span class="_ _2"/>t r<span class="_ _2"/>ate is not<span class="_ _2"/> estimated t<span class="_ _2"/>o affect <span class="_ _2"/>the Group’<span class="_ _2"/>s pro<span class="_ _2"/>fit or<span class="_ _2"/> equity significantl<span class="_ _2"/>y<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments carried at amortised cost</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fair<span class="_ _0"/> value of the short<span class="_ _0"/>-term financial assets and other<span class="_ _2"/> financial liabilities carried at amortised c<span class="_ _2"/>ost is not ma<span class="_ _2"/>terially<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">differen<span class="_ _2"/>t fr<span class="_ _2"/>om the carrying amount.<span class="_ _2"/> In gener<span class="_ _2"/>al,<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue is determined primarily<span class="_ _2"/> based on the pr<span class="_ _2"/>esent <span class="_ _2"/>value of expected </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">future cash flow<span class="_ _2"/>s. <span class="_ _2"/>Where a mark<span class="_ _2"/>et pric<span class="_ _2"/>e was av<span class="_ _2"/>ailable,<span class="_ _2"/> however<span class="_ _0"/>, <span class="_ _2"/>this was deemed <span class="_ _2"/>to be the f<span class="_ _2"/>air <span class="_ _2"/>value.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fair<span class="_ _0"/> value of listed issued bonds is within<span class="_ _2"/> level 1 of the f<span class="_ _2"/>air<span class="_ _2"/> value hier<span class="_ _2"/>ar<span class="_ _2"/>chy<span class="_ _2"/>.<span class="_ _2"/> Fair<span class="_ _0"/> value of the r<span class="_ _2"/>emaining borrowing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">items is within lev<span class="_ _2"/>el 2 of the fair<span class="_ _0"/> value hier<span class="_ _2"/>archy<span class="_ _2"/> and is calculated based on discount<span class="_ _2"/>ed future cash flows<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 4.6 <span class="_ _64"> </span>Financial instruments by cat<span class="_ _2"/>egory</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:612.552734375px;"><span style="position: absolute; display: inline-block; left: 509.609px; top: 0.0078125px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 509.426px; top: 0.138672px; width: 2.35547px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 296.859px; top: 0.138672px; width: 167.508px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Carrying amount<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 88.7873px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 301.75px; top: 24.8105px; width: 255.141px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 49.793px; width: 112.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carried at amortised cost</span><span style="position: absolute; display: inline-block; left: 0px; top: 64.373px; width: 556.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Loan receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.424px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,956<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17,677<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,973<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17,618</span><span style="position: absolute; display: inline-block; left: 0px; top: 79.2637px; width: 403.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 232.588px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>49<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13</span><span style="position: absolute; display: inline-block; left: 0px; top: 94.1543px; width: 403.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> interest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-bearing receivables and deposits<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 85.8165px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>117<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>106</span><span style="position: absolute; display: inline-block; left: 0px; top: 109.045px; width: 403.852px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ade receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 217.306px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,881<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,971</span><span style="position: absolute; display: inline-block; left: 0px; top: 123.936px; width: 403.611px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables (non-interest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-bearing) <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.393px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,712<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,680</span><span style="position: absolute; display: inline-block; left: 0px; top: 138.826px; width: 404.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Securities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 274.488px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>942</span><span style="position: absolute; display: inline-block; left: 0px; top: 153.717px; width: 403.811px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cash and bank balances<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 186.522px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,701<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10,057</span><span style="position: absolute; display: inline-block; left: 0px; top: 168.592px; width: 403.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial assets at amortised cost<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.367px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>27,416<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>37,446</span><span style="position: absolute; display: inline-block; left: 0px; top: 198.389px; width: 403.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Derivativ<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>es<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 253.623px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>148<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>208</span><span style="position: absolute; display: inline-block; left: 0px; top: 228.48px; width: 175.371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carried at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value through profit/loss</span><span style="position: absolute; display: inline-block; left: 188.594px; top: 242.977px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 243.061px; width: 187.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables (non-interest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-bearing)</span><span style="position: absolute; display: inline-block; left: 320.406px; top: 243.092px; width: 83.4258px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3</span><span style="position: absolute; display: inline-block; left: 0px; top: 259.545px; width: 406.172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Securities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 274.488px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 274.436px; width: 404.033px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial assets at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> value thr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ough profit or<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> loss<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.1935px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 68.0685px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3</span><span style="position: absolute; display: inline-block; left: 0px; top: 304.527px; width: 249.68px; white-space: pre; word-spacing: 0px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carried at fair<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value through other<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> comprehensive income</span><span style="position: absolute; display: inline-block; left: 126.047px; top: 318.977px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 0px; top: 319.107px; width: 126.246px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Equity inv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>estments (FVOCI)</span><span style="position: absolute; display: inline-block; left: 307.578px; top: 319.107px; width: 95.6895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">398<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>377</span><span style="position: absolute; display: inline-block; left: 0px; top: 333.998px; width: 403.852px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial assets at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> value thr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ough OCI<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 111.709px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>398<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>377</span><span style="position: absolute; display: inline-block; left: 0px; top: 363.795px; width: 403.617px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal financial assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.09px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>27,962<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>38,034</span><span style="position: absolute; display: inline-block; left: 0px; top: 393.887px; width: 112.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carried at amortised cost</span><span style="position: absolute; display: inline-block; left: 0px; top: 408.467px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bank and other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> credit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> institutions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 150.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>973<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,053<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,000<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,054</span><span style="position: absolute; display: inline-block; left: 0px; top: 423.357px; width: 403.77px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 220.16px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10,448<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11,614</span><span style="position: absolute; display: inline-block; left: 0px; top: 438.248px; width: 556.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Issued bonds<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 236.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,393<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,976<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,339<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,855</span><span style="position: absolute; display: inline-block; left: 0px; top: 453.139px; width: 403.77px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ade payables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,401<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,804</span><span style="position: absolute; display: inline-block; left: 0px; top: 468.029px; width: 403.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> payables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,500<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,716</span><span style="position: absolute; display: inline-block; left: 0px; top: 482.904px; width: 403.787px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial liabilities at amortised cost<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 113.508px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>22,715<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>24,163</span><span style="position: absolute; display: inline-block; left: 0px; top: 512.701px; width: 403.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Derivativ<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>es<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 253.623px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>395<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>572</span><span style="position: absolute; display: inline-block; left: 0px; top: 542.793px; width: 88.1543px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carried at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value</span><span style="position: absolute; display: inline-block; left: 0px; top: 557.373px; width: 403.893px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> payables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.148px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>130</span><span style="position: absolute; display: inline-block; left: 0px; top: 572.264px; width: 403.764px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial liabilities at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> value<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.324px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>130</span><span style="position: absolute; display: inline-block; left: 0px; top: 602.061px; width: 403.594px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal financial liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 174.844px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>23,126<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>24,865</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Relates <span class="_ _2"/>to contingent c<span class="_ _2"/>onsiderations r<span class="_ _2"/>eceivable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Designated at<span class="_ _2"/> initial recognition in ac<span class="_ _2"/>cordance with IFRS 9<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Where no fair <span class="_ _2"/>value is stated,<span class="_ _2"/> the amount<span class="_ _2"/> equals carrying amount.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:300.75px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 128.941px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Movement<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> during the year <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 193.453px; top: 0.0136718px; width: 58.1836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> equity</span><span style="position: absolute; display: inline-block; left: 301.719px; top: 0.0136718px; width: 28.459px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 379.703px; top: 0.0136718px; width: 26.4434px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 453.797px; top: 0.0136718px; width: 28.459px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 534.188px; top: 0.0136718px; width: 26.4434px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 42.4453px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">in level 3</span><span style="position: absolute; display: inline-block; left: 193.453px; top: 12.0137px; width: 58.0781px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">investments</span><span style="position: absolute; display: inline-block; left: 274.25px; top: 12.0137px; width: 52.3711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables</span><span style="position: absolute; display: inline-block; left: 363.266px; top: 12.0137px; width: 42.5801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">financial <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 438.141px; top: 12.0137px; width: 41.7715px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">payables</span><span style="position: absolute; display: inline-block; left: 516.719px; top: 12.0137px; width: 42.5801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">financial <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 217.328px; top: 24.0137px; width: 33.709px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">(FVOCI)</span><span style="position: absolute; display: inline-block; left: 374.75px; top: 24.0137px; width: 29.7188px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">assets</span><span style="position: absolute; display: inline-block; left: 515.359px; top: 24.0137px; width: 42.2461px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">liabilities</span><span style="position: absolute; display: inline-block; left: 0px; top: 48.6855px; width: 556.787px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Carrying amount<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> 1 January 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 73.4239px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 342 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.7989px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 3 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>345<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>130<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>130</span><span style="position: absolute; display: inline-block; left: 0px; top: 63.5762px; width: 556.998px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 25 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 22 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>22</span><span style="position: absolute; display: inline-block; left: 0px; top: 78.4668px; width: 556.957px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 70<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>70</span><span style="position: absolute; display: inline-block; left: 0px; top: 93.3574px; width: 147.047px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gains/losses reco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised in the </span><span style="position: absolute; display: inline-block; left: 0px; top: 105.357px; width: 556.729px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">income statement<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 158.039px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.3906px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-66<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-66</span><span style="position: absolute; display: inline-block; left: 0px; top: 120.248px; width: 156.604px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gains/losses reco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised in other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 132.248px; width: 559.201px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">comprehensive inc<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ome<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 147.139px; width: 556.781px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Carrying amount<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 31 December 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.3906px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>377<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>377<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>16</span><span style="position: absolute; display: inline-block; left: 0px; top: 176.936px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Carrying amount<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> 1 January 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 75.9315px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>263<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>266<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>110<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>110</span><span style="position: absolute; display: inline-block; left: 0px; top: 191.811px; width: 556.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 192.943px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>36<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>36<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>84<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>84</span><span style="position: absolute; display: inline-block; left: 0px; top: 206.701px; width: 556.717px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 193.565px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>28<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>28<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>63<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>63</span><span style="position: absolute; display: inline-block; left: 0px; top: 221.592px; width: 147.047px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gains/losses reco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised in the </span><span style="position: absolute; display: inline-block; left: 0px; top: 233.592px; width: 556.934px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">income statement<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 158.039px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 62.6542px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2</span><span style="position: absolute; display: inline-block; left: 0px; top: 248.482px; width: 156.604px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gains/losses reco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised in other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 260.482px; width: 559.201px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">comprehensive inc<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ome<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>71<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>71<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 275.373px; width: 556.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments, etc.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 245.414px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1</span><span style="position: absolute; display: inline-block; left: 0px; top: 290.264px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Carrying amount<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 31 December 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.3906px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>342<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>345<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>130<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>130</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments measured at<span class="_ _2"/> fair<span class="_ _2"/> value</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments measured at<span class="_ _2"/> fair<span class="_ _2"/> <span class="_ _2"/>value can be divided into <span class="_ _2"/>three lev<span class="_ _2"/>els:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 1 <span class="_ _20"> </span>— <span class="_ _3"/>Quoted prices (unadjusted) in<span class="_ _2"/> active markets f<span class="_ _2"/>or iden<span class="_ _2"/>tical assets or<span class="_ _2"/> liabilities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 2 — <span class="_ _4"/>Inputs other <span class="_ _2"/>than quoted prices included in le<span class="_ _2"/>vel 1 that<span class="_ _2"/> are observ<span class="_ _2"/>able for<span class="_ _2"/> the asset<span class="_ _2"/> or<span class="_ _2"/> liability<span class="_ _2"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">either<span class="_ _2"/> directly<span class="_ _2"/> (i.e.<span class="_ _2"/> as prices) or<span class="_ _2"/> indirectl<span class="_ _2"/>y (i.e<span class="_ _2"/>. derived fr<span class="_ _2"/>om prices) and</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 3 — <span class="_ _4"/>Inputs for<span class="_ _2"/> the asset<span class="_ _2"/> or liability<span class="_ _2"/> that<span class="_ _2"/> are not<span class="_ _2"/> based on observable mark<span class="_ _2"/>et data.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fair<span class="_ _0"/> value of listed securities is within<span class="_ _2"/> level 1 of the f<span class="_ _2"/>air<span class="_ _2"/> value hier<span class="_ _2"/>arch<span class="_ _2"/>y<span class="_ _2"/>.<span class="_ _2"/> Non-listed shares and other<span class="_ _0"/> securities are within </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">level 3 of <span class="_ _2"/>the fair<span class="_ _2"/> v<span class="_ _2"/>alue hierar<span class="_ _2"/>chy<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fair<span class="_ _0"/> value of derivativ<span class="_ _2"/>es is mainly <span class="_ _2"/>within level 2 of <span class="_ _2"/>the fair<span class="_ _2"/> v<span class="_ _2"/>alue hierar<span class="_ _2"/>chy and is calculat<span class="_ _2"/>ed based on observable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market<span class="_ _2"/> data as of the end o<span class="_ _2"/>f the reporting period.<span class="_ _2"/> <span class="_ _2"/>A minor<span class="_ _0"/> amount of crude oil price derivatives is <span class="_ _2"/>within level 1 of <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _2"/> value hier<span class="_ _2"/>archy<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fair<span class="_ _0"/> value of level 3 assets and liabilities is primaril<span class="_ _2"/>y based on <span class="_ _2"/>the present<span class="_ _2"/> v<span class="_ _2"/>alue of expected future cash<span class="_ _2"/> flows.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A r<span class="_ _2"/>easonably<span class="_ _2"/> possible change in the discoun<span class="_ _2"/>t r<span class="_ _2"/>ate is not<span class="_ _2"/> estimated t<span class="_ _2"/>o affect <span class="_ _2"/>the Group’<span class="_ _2"/>s pro<span class="_ _2"/>fit or<span class="_ _2"/> equity significantl<span class="_ _2"/>y<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments carried at amortised cost</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fair<span class="_ _0"/> value of the short<span class="_ _0"/>-term financial assets and other<span class="_ _2"/> financial liabilities carried at amortised c<span class="_ _2"/>ost is not ma<span class="_ _2"/>terially<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">differen<span class="_ _2"/>t fr<span class="_ _2"/>om the carrying amount.<span class="_ _2"/> In gener<span class="_ _2"/>al,<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue is determined primarily<span class="_ _2"/> based on the pr<span class="_ _2"/>esent <span class="_ _2"/>value of expected </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">future cash flow<span class="_ _2"/>s. <span class="_ _2"/>Where a mark<span class="_ _2"/>et pric<span class="_ _2"/>e was av<span class="_ _2"/>ailable,<span class="_ _2"/> however<span class="_ _0"/>, <span class="_ _2"/>this was deemed <span class="_ _2"/>to be the f<span class="_ _2"/>air <span class="_ _2"/>value.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fair<span class="_ _0"/> value of listed issued bonds is within<span class="_ _2"/> level 1 of the f<span class="_ _2"/>air<span class="_ _2"/> value hier<span class="_ _2"/>ar<span class="_ _2"/>chy<span class="_ _2"/>.<span class="_ _2"/> Fair<span class="_ _0"/> value of the r<span class="_ _2"/>emaining borrowing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">items is within lev<span class="_ _2"/>el 2 of the fair<span class="_ _0"/> value hier<span class="_ _2"/>archy<span class="_ _2"/> and is calculated based on discount<span class="_ _2"/>ed future cash flows<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 4.6 <span class="_ _64"> </span>Financial instruments by cat<span class="_ _2"/>egory</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:612.552734375px;"><span style="position: absolute; display: inline-block; left: 509.609px; top: 0.0078125px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 509.426px; top: 0.138672px; width: 2.35547px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 296.859px; top: 0.138672px; width: 167.508px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Carrying amount<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 88.7873px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 301.75px; top: 24.8105px; width: 255.141px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 49.793px; width: 112.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carried at amortised cost</span><span style="position: absolute; display: inline-block; left: 0px; top: 64.373px; width: 556.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Loan receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.424px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,956<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17,677<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,973<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17,618</span><span style="position: absolute; display: inline-block; left: 0px; top: 79.2637px; width: 403.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 232.588px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>49<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13</span><span style="position: absolute; display: inline-block; left: 0px; top: 94.1543px; width: 403.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> interest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-bearing receivables and deposits<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 85.8165px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>117<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>106</span><span style="position: absolute; display: inline-block; left: 0px; top: 109.045px; width: 403.852px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ade receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 217.306px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,881<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,971</span><span style="position: absolute; display: inline-block; left: 0px; top: 123.936px; width: 403.611px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables (non-interest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-bearing) <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.393px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,712<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.7344px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,680</span><span style="position: absolute; display: inline-block; left: 0px; top: 138.826px; width: 404.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Securities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 274.488px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>942</span><span style="position: absolute; display: inline-block; left: 0px; top: 153.717px; width: 403.811px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cash and bank balances<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 186.522px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,701<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10,057</span><span style="position: absolute; display: inline-block; left: 0px; top: 168.592px; width: 403.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial assets at amortised cost<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.367px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>27,416<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>37,446</span><span style="position: absolute; display: inline-block; left: 0px; top: 198.389px; width: 403.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Derivativ<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>es<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 253.623px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>148<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>208</span><span style="position: absolute; display: inline-block; left: 0px; top: 228.48px; width: 175.371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carried at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value through profit/loss</span><span style="position: absolute; display: inline-block; left: 188.594px; top: 242.977px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 243.061px; width: 187.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables (non-interest<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-bearing)</span><span style="position: absolute; display: inline-block; left: 320.406px; top: 243.092px; width: 83.4258px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3</span><span style="position: absolute; display: inline-block; left: 0px; top: 259.545px; width: 406.172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Securities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 274.488px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 274.436px; width: 404.033px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial assets at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> value thr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ough profit or<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> loss<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 78.1935px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 68.0685px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3</span><span style="position: absolute; display: inline-block; left: 0px; top: 304.527px; width: 249.68px; white-space: pre; word-spacing: 0px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carried at fair<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value through other<span style="word-spacing: 0px; letter-spacing: -0.105px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> comprehensive income</span><span style="position: absolute; display: inline-block; left: 126.047px; top: 318.977px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 0px; top: 319.107px; width: 126.246px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Equity inv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>estments (FVOCI)</span><span style="position: absolute; display: inline-block; left: 307.578px; top: 319.107px; width: 95.6895px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">398<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>377</span><span style="position: absolute; display: inline-block; left: 0px; top: 333.998px; width: 403.852px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial assets at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> value thr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ough OCI<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 111.709px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>398<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>377</span><span style="position: absolute; display: inline-block; left: 0px; top: 363.795px; width: 403.617px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal financial assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.09px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>27,962<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>38,034</span><span style="position: absolute; display: inline-block; left: 0px; top: 393.887px; width: 112.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carried at amortised cost</span><span style="position: absolute; display: inline-block; left: 0px; top: 408.467px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Bank and other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> credit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> institutions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 150.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>973<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,053<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,000<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,054</span><span style="position: absolute; display: inline-block; left: 0px; top: 423.357px; width: 403.77px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 220.16px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10,448<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11,614</span><span style="position: absolute; display: inline-block; left: 0px; top: 438.248px; width: 556.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Issued bonds<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 236.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,393<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,976<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,339<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,855</span><span style="position: absolute; display: inline-block; left: 0px; top: 453.139px; width: 403.77px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ade payables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,401<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,804</span><span style="position: absolute; display: inline-block; left: 0px; top: 468.029px; width: 403.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> payables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 227.824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,500<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,716</span><span style="position: absolute; display: inline-block; left: 0px; top: 482.904px; width: 403.787px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial liabilities at amortised cost<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 113.508px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>22,715<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>24,163</span><span style="position: absolute; display: inline-block; left: 0px; top: 512.701px; width: 403.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Derivativ<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>es<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 253.623px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>395<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>572</span><span style="position: absolute; display: inline-block; left: 0px; top: 542.793px; width: 88.1543px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Carried at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> value</span><span style="position: absolute; display: inline-block; left: 0px; top: 557.373px; width: 403.893px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> payables<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.148px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>130</span><span style="position: absolute; display: inline-block; left: 0px; top: 572.264px; width: 403.764px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Financial liabilities at fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> value<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.324px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>130</span><span style="position: absolute; display: inline-block; left: 0px; top: 602.061px; width: 403.594px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal financial liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 174.844px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>23,126<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>24,865</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>Relates <span class="_ _2"/>to contingent c<span class="_ _2"/>onsiderations r<span class="_ _2"/>eceivable.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Designated at<span class="_ _2"/> initial recognition in ac<span class="_ _2"/>cordance with IFRS 9<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>Where no fair <span class="_ _2"/>value is stated,<span class="_ _2"/> the amount<span class="_ _2"/> equals carrying amount.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:300.75px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 128.941px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Movement<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> during the year <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span></span><span style="position: absolute; display: inline-block; left: 193.453px; top: 0.0136718px; width: 58.1836px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> equity</span><span style="position: absolute; display: inline-block; left: 301.719px; top: 0.0136718px; width: 28.459px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 379.703px; top: 0.0136718px; width: 26.4434px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 453.797px; top: 0.0136718px; width: 28.459px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 534.188px; top: 0.0136718px; width: 26.4434px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 42.4453px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">in level 3</span><span style="position: absolute; display: inline-block; left: 193.453px; top: 12.0137px; width: 58.0781px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">investments</span><span style="position: absolute; display: inline-block; left: 274.25px; top: 12.0137px; width: 52.3711px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">receiv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ables</span><span style="position: absolute; display: inline-block; left: 363.266px; top: 12.0137px; width: 42.5801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">financial <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 438.141px; top: 12.0137px; width: 41.7715px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">payables</span><span style="position: absolute; display: inline-block; left: 516.719px; top: 12.0137px; width: 42.5801px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">financial <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 217.328px; top: 24.0137px; width: 33.709px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">(FVOCI)</span><span style="position: absolute; display: inline-block; left: 374.75px; top: 24.0137px; width: 29.7188px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">assets</span><span style="position: absolute; display: inline-block; left: 515.359px; top: 24.0137px; width: 42.2461px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">liabilities</span><span style="position: absolute; display: inline-block; left: 0px; top: 48.6855px; width: 556.787px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Carrying amount<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> 1 January 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 73.4239px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 342 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 64.7989px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 3 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>345<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>130<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>130</span><span style="position: absolute; display: inline-block; left: 0px; top: 63.5762px; width: 556.998px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 25 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 22 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>22</span><span style="position: absolute; display: inline-block; left: 0px; top: 78.4668px; width: 556.957px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> 70<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>70</span><span style="position: absolute; display: inline-block; left: 0px; top: 93.3574px; width: 147.047px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gains/losses reco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised in the </span><span style="position: absolute; display: inline-block; left: 0px; top: 105.357px; width: 556.729px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">income statement<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 158.039px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.3906px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-66<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-66</span><span style="position: absolute; display: inline-block; left: 0px; top: 120.248px; width: 156.604px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gains/losses reco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised in other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 132.248px; width: 559.201px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">comprehensive inc<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ome<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 147.139px; width: 556.781px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Carrying amount<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 31 December 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.3906px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>377<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>377<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>16</span><span style="position: absolute; display: inline-block; left: 0px; top: 176.936px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Carrying amount<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> 1 January 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 75.9315px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>263<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>266<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>110<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>110</span><span style="position: absolute; display: inline-block; left: 0px; top: 191.811px; width: 556.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Additions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 192.943px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>36<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>36<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>84<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>84</span><span style="position: absolute; display: inline-block; left: 0px; top: 206.701px; width: 556.717px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Disposals<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 193.565px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>28<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>28<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>63<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>63</span><span style="position: absolute; display: inline-block; left: 0px; top: 221.592px; width: 147.047px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gains/losses reco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised in the </span><span style="position: absolute; display: inline-block; left: 0px; top: 233.592px; width: 556.934px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">income statement<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 158.039px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 62.6542px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 65.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2</span><span style="position: absolute; display: inline-block; left: 0px; top: 248.482px; width: 156.604px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gains/losses reco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised in other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 0px; top: 260.482px; width: 559.201px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">comprehensive inc<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ome<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>71<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.1366px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>71<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 275.373px; width: 556.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exchange r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate adjustments, etc.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 245.414px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1</span><span style="position: absolute; display: inline-block; left: 0px; top: 290.264px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Carrying amount<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 31 December 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 56.3906px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>342<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 70.383px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>345<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>130<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>130</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments measured at<span class="_ _2"/> fair<span class="_ _2"/> value</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments measured at<span class="_ _2"/> fair<span class="_ _2"/> <span class="_ _2"/>value can be divided into <span class="_ _2"/>three lev<span class="_ _2"/>els:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 1 <span class="_ _20"> </span>— <span class="_ _3"/>Quoted prices (unadjusted) in<span class="_ _2"/> active markets f<span class="_ _2"/>or iden<span class="_ _2"/>tical assets or<span class="_ _2"/> liabilities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 2 — <span class="_ _4"/>Inputs other <span class="_ _2"/>than quoted prices included in le<span class="_ _2"/>vel 1 that<span class="_ _2"/> are observ<span class="_ _2"/>able for<span class="_ _2"/> the asset<span class="_ _2"/> or<span class="_ _2"/> liability<span class="_ _2"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">either<span class="_ _2"/> directly<span class="_ _2"/> (i.e.<span class="_ _2"/> as prices) or<span class="_ _2"/> indirectl<span class="_ _2"/>y (i.e<span class="_ _2"/>. derived fr<span class="_ _2"/>om prices) and</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 3 — <span class="_ _4"/>Inputs for<span class="_ _2"/> the asset<span class="_ _2"/> or liability<span class="_ _2"/> that<span class="_ _2"/> are not<span class="_ _2"/> based on observable mark<span class="_ _2"/>et data.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fair<span class="_ _0"/> value of listed securities is within<span class="_ _2"/> level 1 of the f<span class="_ _2"/>air<span class="_ _2"/> value hier<span class="_ _2"/>arch<span class="_ _2"/>y<span class="_ _2"/>.<span class="_ _2"/> Non-listed shares and other<span class="_ _0"/> securities are within </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">level 3 of <span class="_ _2"/>the fair<span class="_ _2"/> v<span class="_ _2"/>alue hierar<span class="_ _2"/>chy<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fair<span class="_ _0"/> value of derivativ<span class="_ _2"/>es is mainly <span class="_ _2"/>within level 2 of <span class="_ _2"/>the fair<span class="_ _2"/> v<span class="_ _2"/>alue hierar<span class="_ _2"/>chy and is calculat<span class="_ _2"/>ed based on observable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market<span class="_ _2"/> data as of the end o<span class="_ _2"/>f the reporting period.<span class="_ _2"/> <span class="_ _2"/>A minor<span class="_ _0"/> amount of crude oil price derivatives is <span class="_ _2"/>within level 1 of <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _2"/> value hier<span class="_ _2"/>archy<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fair<span class="_ _0"/> value of level 3 assets and liabilities is primaril<span class="_ _2"/>y based on <span class="_ _2"/>the present<span class="_ _2"/> v<span class="_ _2"/>alue of expected future cash<span class="_ _2"/> flows.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A r<span class="_ _2"/>easonably<span class="_ _2"/> possible change in the discoun<span class="_ _2"/>t r<span class="_ _2"/>ate is not<span class="_ _2"/> estimated t<span class="_ _2"/>o affect <span class="_ _2"/>the Group’<span class="_ _2"/>s pro<span class="_ _2"/>fit or<span class="_ _2"/> equity significantl<span class="_ _2"/>y<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments carried at amortised cost</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fair<span class="_ _0"/> value of the short<span class="_ _0"/>-term financial assets and other<span class="_ _2"/> financial liabilities carried at amortised c<span class="_ _2"/>ost is not ma<span class="_ _2"/>terially<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">differen<span class="_ _2"/>t fr<span class="_ _2"/>om the carrying amount.<span class="_ _2"/> In gener<span class="_ _2"/>al,<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue is determined primarily<span class="_ _2"/> based on the pr<span class="_ _2"/>esent <span class="_ _2"/>value of expected </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">future cash flow<span class="_ _2"/>s. <span class="_ _2"/>Where a mark<span class="_ _2"/>et pric<span class="_ _2"/>e was av<span class="_ _2"/>ailable,<span class="_ _2"/> however<span class="_ _0"/>, <span class="_ _2"/>this was deemed <span class="_ _2"/>to be the f<span class="_ _2"/>air <span class="_ _2"/>value.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fair<span class="_ _0"/> value of listed issued bonds is within<span class="_ _2"/> level 1 of the f<span class="_ _2"/>air<span class="_ _2"/> value hier<span class="_ _2"/>ar<span class="_ _2"/>chy<span class="_ _2"/>.<span class="_ _2"/> Fair<span class="_ _0"/> value of the r<span class="_ _2"/>emaining borrowing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">items is within lev<span class="_ _2"/>el 2 of the fair<span class="_ _0"/> value hier<span class="_ _2"/>archy<span class="_ _2"/> and is calculated based on discount<span class="_ _2"/>ed future cash flows<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other<span class="_ _2"/> equity inv<span class="_ _2"/>estments (FVOCI)</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group has inv<span class="_ _2"/>estments in equity shar<span class="_ _2"/>es of both listed and non-listed companies<span class="_ _2"/>. <span class="_ _2"/>The Gr<span class="_ _2"/>oup holds non-controlling </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">inter<span class="_ _2"/>ests (between 0.<span class="_ _0"/>1% and 15%) in <span class="_ _2"/>these companies.<span class="_ _2"/> These inv<span class="_ _2"/>estments wer<span class="_ _2"/>e irrevocabl<span class="_ _2"/>y designated a<span class="_ _2"/>t fair<span class="_ _0"/> value </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">through OCI as <span class="_ _2"/>the Group considers <span class="_ _2"/>these investments <span class="_ _2"/>to be str<span class="_ _2"/>ategic in natur<span class="_ _2"/>e.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments measured at<span class="_ _2"/> fair<span class="_ _2"/> value</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments measured at<span class="_ _2"/> fair<span class="_ _2"/> <span class="_ _2"/>value can be divided into <span class="_ _2"/>three lev<span class="_ _2"/>els:</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 1 <span class="_ _20"> </span>— <span class="_ _3"/>Quoted prices (unadjusted) in<span class="_ _2"/> active markets f<span class="_ _2"/>or iden<span class="_ _2"/>tical assets or<span class="_ _2"/> liabilities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 2 — <span class="_ _4"/>Inputs other <span class="_ _2"/>than quoted prices included in le<span class="_ _2"/>vel 1 that<span class="_ _2"/> are observ<span class="_ _2"/>able for<span class="_ _2"/> the asset<span class="_ _2"/> or<span class="_ _2"/> liability<span class="_ _2"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">either<span class="_ _2"/> directly<span class="_ _2"/> (i.e.<span class="_ _2"/> as prices) or<span class="_ _2"/> indirectl<span class="_ _2"/>y (i.e<span class="_ _2"/>. derived fr<span class="_ _2"/>om prices) and</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Level 3 — <span class="_ _4"/>Inputs for<span class="_ _2"/> the asset<span class="_ _2"/> or liability<span class="_ _2"/> that<span class="_ _2"/> are not<span class="_ _2"/> based on observable mark<span class="_ _2"/>et data.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fair<span class="_ _0"/> value of listed securities is within<span class="_ _2"/> level 1 of the f<span class="_ _2"/>air<span class="_ _2"/> value hier<span class="_ _2"/>arch<span class="_ _2"/>y<span class="_ _2"/>.<span class="_ _2"/> Non-listed shares and other<span class="_ _0"/> securities are within </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">level 3 of <span class="_ _2"/>the fair<span class="_ _2"/> v<span class="_ _2"/>alue hierar<span class="_ _2"/>chy<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fair<span class="_ _0"/> value of derivativ<span class="_ _2"/>es is mainly <span class="_ _2"/>within level 2 of <span class="_ _2"/>the fair<span class="_ _2"/> v<span class="_ _2"/>alue hierar<span class="_ _2"/>chy and is calculat<span class="_ _2"/>ed based on observable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">market<span class="_ _2"/> data as of the end o<span class="_ _2"/>f the reporting period.<span class="_ _2"/> <span class="_ _2"/>A minor<span class="_ _0"/> amount of crude oil price derivatives is <span class="_ _2"/>within level 1 of <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">fair<span class="_ _2"/> value hier<span class="_ _2"/>archy<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fair<span class="_ _0"/> value of level 3 assets and liabilities is primaril<span class="_ _2"/>y based on <span class="_ _2"/>the present<span class="_ _2"/> v<span class="_ _2"/>alue of expected future cash<span class="_ _2"/> flows.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A r<span class="_ _2"/>easonably<span class="_ _2"/> possible change in the discoun<span class="_ _2"/>t r<span class="_ _2"/>ate is not<span class="_ _2"/> estimated t<span class="_ _2"/>o affect <span class="_ _2"/>the Group’<span class="_ _2"/>s pro<span class="_ _2"/>fit or<span class="_ _2"/> equity significantl<span class="_ _2"/>y<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Financial instruments carried at amortised cost</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fair<span class="_ _0"/> value of the short<span class="_ _0"/>-term financial assets and other<span class="_ _2"/> financial liabilities carried at amortised c<span class="_ _2"/>ost is not ma<span class="_ _2"/>terially<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">differen<span class="_ _2"/>t fr<span class="_ _2"/>om the carrying amount.<span class="_ _2"/> In gener<span class="_ _2"/>al,<span class="_ _2"/> fair<span class="_ _2"/> v<span class="_ _2"/>alue is determined primarily<span class="_ _2"/> based on the pr<span class="_ _2"/>esent <span class="_ _2"/>value of expected </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">future cash flow<span class="_ _2"/>s. <span class="_ _2"/>Where a mark<span class="_ _2"/>et pric<span class="_ _2"/>e was av<span class="_ _2"/>ailable,<span class="_ _2"/> however<span class="_ _0"/>, <span class="_ _2"/>this was deemed <span class="_ _2"/>to be the f<span class="_ _2"/>air <span class="_ _2"/>value.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Fair<span class="_ _0"/> value of listed issued bonds is within<span class="_ _2"/> level 1 of the f<span class="_ _2"/>air<span class="_ _2"/> value hier<span class="_ _2"/>ar<span class="_ _2"/>chy<span class="_ _2"/>.<span class="_ _2"/> Fair<span class="_ _0"/> value of the r<span class="_ _2"/>emaining borrowing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">items is within lev<span class="_ _2"/>el 2 of the fair<span class="_ _0"/> value hier<span class="_ _2"/>archy<span class="_ _2"/> and is calculated based on discount<span class="_ _2"/>ed future cash flows<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 5.<span class="_ _2"/>1 <span class="_ _1c7"> </span>T<span class="_ _0"/>ax and def<span class="_ _2"/>err<span class="_ _2"/>ed tax</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:568.609375px;"><span style="position: absolute; display: inline-block; left: 454.141px; top: 0.0136718px; width: 102.393px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.9961px; width: 175.939px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/>ax recognised in the income statement</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.1543px; width: 557.074px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Current<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> tax on profits for the year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 302.935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">595<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>782</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 53.2012px; width: 556.986px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Adjustment f<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>or curr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ent <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tax of prior<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> periods<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 262.887px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-65<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>44</span><span style="position: absolute; display: inline-block; left: 0px; top: 67.2324px; width: 556.98px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Utilisation of pr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>eviously unr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ecognised def<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erred <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tax assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 187.775px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-169<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-23</span><span style="position: absolute; display: inline-block; left: 0px; top: 81.2793px; width: 557.104px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>current<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> tax<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 380.197px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">361<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>803</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 106.998px; width: 556.799px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Origination and re<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>versal of tempor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ary<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> differences<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 231.486px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-43<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-143</span><span style="position: absolute; display: inline-block; left: 0px; top: 121.029px; width: 557.057px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Adjustment f<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>or def<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erred <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tax of prior<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> periods<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 256.893px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-38<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>49</span><span style="position: absolute; display: inline-block; left: 0px; top: 135.076px; width: 559.33px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Recognition of pr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>eviously<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> unreco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised deferred <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tax assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>22<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.0645px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 149.107px; width: 556.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Reassessment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> of recover<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ability<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> of deferred <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tax assets, net<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 195.041px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1</span><span style="position: absolute; display: inline-block; left: 0px; top: 163.154px; width: 556.887px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>deferred tax<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 375.42px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">-42<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-93</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 177.186px; width: 556.646px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>income tax<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 380.906px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">319<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>710</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 191.232px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>onnage and freight<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> tax<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 349.453px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>135<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>200</span><span style="position: absolute; display: inline-block; left: 0px; top: 205.264px; width: 556.828px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal tax <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>expense<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 376.23px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">454<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>910</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 231.309px; width: 78.1523px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/>ax reconciliation</span><span style="position: absolute; display: inline-block; left: 0px; top: 245.029px; width: 556.91px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Profit/loss befor<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e tax<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 350.473px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">4,362<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>30,231</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 259.076px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Profit/loss subject<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> to Danish<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> and foreign <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tonnage <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>taxation, etc.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 150.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2,526<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.7676px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-28,999</span><span style="position: absolute; display: inline-block; left: 0px; top: 273.107px; width: 556.846px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Share of pr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ofit/loss in joint<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> ventur<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>es<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 287.092px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-148<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>192</span><span style="position: absolute; display: inline-block; left: 0px; top: 287.154px; width: 556.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Share of pr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ofit/loss in associated companies<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 248.203px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-287<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-324</span><span style="position: absolute; display: inline-block; left: 0px; top: 301.186px; width: 557.016px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Profit/loss befor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>e tax, adjusted<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 298.195px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,401<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,100</span><span style="position: absolute; display: inline-block; left: 0px; top: 326.904px; width: 556.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ax using the Danish corpor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation tax r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate (22%)<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 239.531px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>309<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>242</span><span style="position: absolute; display: inline-block; left: 0px; top: 340.951px; width: 557.045px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ax rate de<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>viations in for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>eign jurisdictions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 272.584px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>66<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>31</span><span style="position: absolute; display: inline-block; left: 0px; top: 354.982px; width: 556.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Non-taxable income<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 367.734px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-23<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-21</span><span style="position: absolute; display: inline-block; left: 0px; top: 369.029px; width: 556.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Non-deductible expenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 348.199px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>65<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>171</span><span style="position: absolute; display: inline-block; left: 0px; top: 383.061px; width: 557.027px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Adjustment t<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>o previous years’<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> taxes<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 290.455px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-103<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>94</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 397.107px; width: 557.145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Change in r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ecover<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ability of deferr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed tax assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 239.531px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-130<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-22</span><span style="position: absolute; display: inline-block; left: 0px; top: 411.139px; width: 557.092px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Deferr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed tax asset not<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> reco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 309.369px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>19<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>29</span><span style="position: absolute; display: inline-block; left: 0px; top: 425.186px; width: 556.887px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Withholding taxes<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 375.42px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">107<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>157</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 439.217px; width: 556.945px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> differences, net<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 370.365px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>29</span><span style="position: absolute; display: inline-block; left: 0px; top: 453.264px; width: 556.646px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>income tax<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 380.906px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">319<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>710</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 478.982px; width: 556.752px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Effective tax ra<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>te <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 366.926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">10.4%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3.0%</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 504.514px; width: 557.068px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ax recognised in other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> comprehensive income and equity<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 196.951px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-20</span><span style="position: absolute; display: inline-block; left: 0px; top: 530.371px; width: 40.6699px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Of<span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> which:</span><span style="position: absolute; display: inline-block; left: 0px; top: 544.092px; width: 556.869px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Current<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> tax<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 421.384px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">7<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-26</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 558.123px; width: 556.881px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Deferr<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed tax<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 411.045px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:212.75px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 368.531px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Recognised def<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erred tax as<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>sets and liabilities are attributable <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>to the f<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ollowing:</span><span style="position: absolute; display: inline-block; left: 167.422px; top: 24.6855px; width: 352.529px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.319px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 100.002px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Net liabilities</span><span style="position: absolute; display: inline-block; left: 148px; top: 49.3574px; width: 408.34px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 74.0449px; width: 556.723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Intangible assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 81.4395px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>40<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>44<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>561<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>453<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>521<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>409</span><span style="position: absolute; display: inline-block; left: 0px; top: 88.9199px; width: 94.2773px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Property, plant<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> and </span><span style="position: absolute; display: inline-block; left: 0px; top: 100.936px; width: 556.764px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">equipment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.268px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>40<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>51<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>278<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>314<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>238<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>263</span><span style="position: absolute; display: inline-block; left: 0px; top: 115.811px; width: 557.086px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Provisions, et<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>c.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 83.4082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>255<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>248<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>48<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>173<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-207<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-75</span><span style="position: absolute; display: inline-block; left: 0px; top: 130.701px; width: 70.2246px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ax loss carry- </span><span style="position: absolute; display: inline-block; left: 0px; top: 142.701px; width: 556.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">forwar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ds<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 119.326px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>75<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>103<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-75<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-103</span><span style="position: absolute; display: inline-block; left: 0px; top: 157.592px; width: 556.664px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.367px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>150<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>119<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>96<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>106<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-54<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13</span><span style="position: absolute; display: inline-block; left: 0px; top: 172.482px; width: 557.004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>560<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>565<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>983<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,046<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>423<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>481</span><span style="position: absolute; display: inline-block; left: 0px; top: 187.373px; width: 556.723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Offsets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.18px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-217<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-166<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-217<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-163<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.264px; width: 556.975px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 127.576px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>343<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>399<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>766<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>883<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>423<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>484</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:198.96875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 557.086px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Change in deferr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed tax, net, during <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>the year<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 249.522px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.787px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">1 January<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 413.783px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">484<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>164</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.852px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Intangible assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 383.467px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>39</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Property, plant<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> and equipment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 318.047px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 556.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Provisions, et<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>c.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-146</span><span style="position: absolute; display: inline-block; left: 0px; top: 99.1387px; width: 556.928px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ax loss carry-forw<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ards<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 359.935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>27</span><span style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 556.852px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 436.605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-37<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-34</span><span style="position: absolute; display: inline-block; left: 0px; top: 128.92px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Recognised in <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>the income statement<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 288.557px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-42<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-93</span><span style="position: absolute; display: inline-block; left: 0px; top: 158.701px; width: 556.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> t<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>o held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 355.611px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-14</span><span style="position: absolute; display: inline-block; left: 0px; top: 173.592px; width: 557.045px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> including business combinations<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 282.035px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-44<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>427</span><span style="position: absolute; display: inline-block; left: 0px; top: 188.482px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 397.305px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>423<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>484</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:79.84375px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 556.717px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Unreco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised deferred <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tax assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 298.195px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.7012px; width: 556.881px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Deductible tempor<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ary differences<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 302.935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">103<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>125</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5918px; width: 556.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ax loss carry-forw<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ards<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 351.363px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>780<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>782</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.641px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Unused tax credits<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 380.197px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 557.033px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 436.207px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>895<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>918</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The unreco<span class="_ _2"/>gnised deferred <span class="_ _2"/>tax assets have no significant<span class="_ _2"/> time limitations<span class="_ _2"/>. <span class="_ _2"/>There ar<span class="_ _2"/>e no substantial unrec<span class="_ _2"/>ognised tax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities on investments in<span class="_ _2"/> subsidiaries, associa<span class="_ _2"/>ted companies and joint <span class="_ _2"/>ventur<span class="_ _2"/>es.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deferred tax assets</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Judgement has been<span class="_ _2"/> applied with respect<span class="_ _2"/> t<span class="_ _2"/>o </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _0"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s ability <span class="_ _2"/>to utilise deferr<span class="_ _2"/>ed tax as<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sets.<span class="_ _2"/> Management considers <span class="_ _2"/>the likelihood of utilisa<span class="_ _2"/>tion </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on the lat<span class="_ _2"/>est business plans and <span class="_ _2"/>the recent<span class="_ _2"/> finan<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cial performances of <span class="_ _2"/>the individual entities.<span class="_ _2"/> Net deferr<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax assets reco<span class="_ _2"/>gnised in entities having r<span class="_ _2"/>ecognised an </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">accounting loss in either<span class="_ _2"/> the curr<span class="_ _2"/>ent<span class="_ _2"/> or pr<span class="_ _2"/>eceding period </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount <span class="_ _2"/>to USD 156m (USD<span class="_ _2"/> 163m). <span class="_ _2"/>These assets mainly<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">relat<span class="_ _2"/>e to unused <span class="_ _2"/>tax losses or<span class="_ _2"/> deductible tempor<span class="_ _2"/>ary dif<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ferenc<span class="_ _2"/>es genera<span class="_ _2"/>ted during the construction of <span class="_ _2"/>terminals,<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">where <span class="_ _2"/>taxable profits hav<span class="_ _2"/>e been gener<span class="_ _2"/>ated either<span class="_ _2"/> in the<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">current<span class="_ _2"/> period or<span class="_ _2"/> are expected <span class="_ _2"/>to be gener<span class="_ _2"/>ated <span class="_ _2"/>within </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the foreseeable futur<span class="_ _2"/>e.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deferred tax<span class="ff3"> is calculated on<span class="_ _2"/> tempor<span class="_ _2"/>ary diff<span class="_ _2"/>erences be-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tween the carrying amoun<span class="_ _2"/>ts and tax bases of assets and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities.<span class="_ _2"/> Deferred <span class="_ _2"/>tax is not r<span class="_ _2"/>ecognised for<span class="_ _0"/> differences </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on the initial r<span class="_ _2"/>ecognition of assets or<span class="_ _0"/> liabilities, wher<span class="_ _2"/>e at </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the time of the transaction neither<span class="_ _2"/> accounting nor taxable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">profit/loss is aff<span class="_ _2"/>ected, unless <span class="_ _2"/>the differ<span class="_ _2"/>ences arise in a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">business combination.<span class="_ _2"/> In addition, no def<span class="_ _2"/>erred <span class="_ _2"/>tax is rec<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ognised for<span class="_ _2"/> undistributed earnings in<span class="_ _2"/> subsidiaries,<span class="_ _2"/> when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk controls <span class="_ _2"/>the timing of dividends<span class="_ _2"/>. No </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">taxable dividends are curr<span class="_ _2"/>ently<span class="_ _2"/> expected.<span class="_ _2"/> A<span class="_ _2"/> deferr<span class="_ _2"/>ed tax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">asset is r<span class="_ _2"/>ecognised t<span class="_ _2"/>o the exten<span class="_ _2"/>t <span class="_ _2"/>that it<span class="_ _2"/> is probable tha<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">it can be utilised within a for<span class="_ _2"/>eseeable future<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 5.<span class="_ _2"/>1 <span class="_ _1c7"> </span>T<span class="_ _0"/>ax and def<span class="_ _2"/>err<span class="_ _2"/>ed tax</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:568.609375px;"><span style="position: absolute; display: inline-block; left: 454.141px; top: 0.0136718px; width: 102.393px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.9961px; width: 175.939px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/>ax recognised in the income statement</span><span style="position: absolute; display: inline-block; left: 0px; top: 39.1543px; width: 557.074px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Current<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> tax on profits for the year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 302.935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">595<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>782</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 53.2012px; width: 556.986px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Adjustment f<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>or curr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ent <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tax of prior<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> periods<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 262.887px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-65<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>44</span><span style="position: absolute; display: inline-block; left: 0px; top: 67.2324px; width: 556.98px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Utilisation of pr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>eviously unr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ecognised def<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erred <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tax assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 187.775px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-169<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-23</span><span style="position: absolute; display: inline-block; left: 0px; top: 81.2793px; width: 557.104px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>current<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> tax<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 380.197px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">361<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>803</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 106.998px; width: 556.799px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Origination and re<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>versal of tempor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ary<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> differences<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 231.486px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-43<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-143</span><span style="position: absolute; display: inline-block; left: 0px; top: 121.029px; width: 557.057px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Adjustment f<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>or def<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erred <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tax of prior<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> periods<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 256.893px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-38<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>49</span><span style="position: absolute; display: inline-block; left: 0px; top: 135.076px; width: 559.33px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Recognition of pr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>eviously<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> unreco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised deferred <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tax assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>22<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.0645px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span><span style="position: absolute; display: inline-block; left: 0px; top: 149.107px; width: 556.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Reassessment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> of recover<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ability<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> of deferred <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tax assets, net<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 195.041px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.5332px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1</span><span style="position: absolute; display: inline-block; left: 0px; top: 163.154px; width: 556.887px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>deferred tax<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 375.42px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">-42<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-93</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 177.186px; width: 556.646px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>income tax<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 380.906px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">319<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>710</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 191.232px; width: 556.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>onnage and freight<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> tax<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 349.453px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>135<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>200</span><span style="position: absolute; display: inline-block; left: 0px; top: 205.264px; width: 556.828px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal tax <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>expense<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 376.23px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">454<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>910</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 231.309px; width: 78.1523px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/>ax reconciliation</span><span style="position: absolute; display: inline-block; left: 0px; top: 245.029px; width: 556.91px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Profit/loss befor<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e tax<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 350.473px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">4,362<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>30,231</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 259.076px; width: 557.01px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Profit/loss subject<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> to Danish<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> and foreign <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tonnage <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>taxation, etc.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 150.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-2,526<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 36.7676px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-28,999</span><span style="position: absolute; display: inline-block; left: 0px; top: 273.107px; width: 556.846px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Share of pr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ofit/loss in joint<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> ventur<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>es<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 287.092px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-148<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>192</span><span style="position: absolute; display: inline-block; left: 0px; top: 287.154px; width: 556.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Share of pr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ofit/loss in associated companies<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 248.203px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-287<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-324</span><span style="position: absolute; display: inline-block; left: 0px; top: 301.186px; width: 557.016px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Profit/loss befor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>e tax, adjusted<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 298.195px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,401<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,100</span><span style="position: absolute; display: inline-block; left: 0px; top: 326.904px; width: 556.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ax using the Danish corpor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation tax r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate (22%)<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 239.531px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>309<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>242</span><span style="position: absolute; display: inline-block; left: 0px; top: 340.951px; width: 557.045px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ax rate de<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>viations in for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>eign jurisdictions<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 272.584px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>66<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>31</span><span style="position: absolute; display: inline-block; left: 0px; top: 354.982px; width: 556.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Non-taxable income<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 367.734px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-23<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-21</span><span style="position: absolute; display: inline-block; left: 0px; top: 369.029px; width: 556.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Non-deductible expenses<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 348.199px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>65<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>171</span><span style="position: absolute; display: inline-block; left: 0px; top: 383.061px; width: 557.027px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Adjustment t<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>o previous years’<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> taxes<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 290.455px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-103<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>94</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 397.107px; width: 557.145px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Change in r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ecover<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ability of deferr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed tax assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 239.531px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-130<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-22</span><span style="position: absolute; display: inline-block; left: 0px; top: 411.139px; width: 557.092px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Deferr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed tax asset not<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> reco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 309.369px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>19<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>29</span><span style="position: absolute; display: inline-block; left: 0px; top: 425.186px; width: 556.887px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Withholding taxes<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 375.42px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">107<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>157</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 439.217px; width: 556.945px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> differences, net<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 370.365px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>29</span><span style="position: absolute; display: inline-block; left: 0px; top: 453.264px; width: 556.646px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>income tax<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 380.906px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">319<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>710</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 478.982px; width: 556.752px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Effective tax ra<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>te <span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 366.926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">10.4%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3.0%</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 504.514px; width: 557.068px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ax recognised in other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> comprehensive income and equity<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 196.951px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-20</span><span style="position: absolute; display: inline-block; left: 0px; top: 530.371px; width: 40.6699px; white-space: pre; word-spacing: -0.273px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;">Of<span style="word-spacing: -0.273px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff19; -webkit-text-stroke-width: 0.1575px;"/> which:</span><span style="position: absolute; display: inline-block; left: 0px; top: 544.092px; width: 556.869px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Current<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> tax<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 421.384px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">7<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-26</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 558.123px; width: 556.881px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Deferr<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed tax<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 411.045px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">-4<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:212.75px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 368.531px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Recognised def<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erred tax as<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>sets and liabilities are attributable <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>to the f<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ollowing:</span><span style="position: absolute; display: inline-block; left: 167.422px; top: 24.6855px; width: 352.529px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.319px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 100.002px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Net liabilities</span><span style="position: absolute; display: inline-block; left: 148px; top: 49.3574px; width: 408.34px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 74.0449px; width: 556.723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Intangible assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 81.4395px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>40<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>44<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>561<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>453<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>521<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>409</span><span style="position: absolute; display: inline-block; left: 0px; top: 88.9199px; width: 94.2773px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Property, plant<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> and </span><span style="position: absolute; display: inline-block; left: 0px; top: 100.936px; width: 556.764px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">equipment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.268px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>40<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>51<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>278<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>314<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>238<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>263</span><span style="position: absolute; display: inline-block; left: 0px; top: 115.811px; width: 557.086px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Provisions, et<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>c.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 83.4082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>255<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>248<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>48<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>173<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-207<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-75</span><span style="position: absolute; display: inline-block; left: 0px; top: 130.701px; width: 70.2246px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ax loss carry- </span><span style="position: absolute; display: inline-block; left: 0px; top: 142.701px; width: 556.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">forwar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ds<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 119.326px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>75<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>103<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-75<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-103</span><span style="position: absolute; display: inline-block; left: 0px; top: 157.592px; width: 556.664px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.367px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>150<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>119<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>96<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>106<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-54<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13</span><span style="position: absolute; display: inline-block; left: 0px; top: 172.482px; width: 557.004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>560<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>565<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>983<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,046<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>423<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>481</span><span style="position: absolute; display: inline-block; left: 0px; top: 187.373px; width: 556.723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Offsets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.18px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-217<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-166<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-217<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-163<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.264px; width: 556.975px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 127.576px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>343<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>399<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>766<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>883<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>423<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>484</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:198.96875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 557.086px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Change in deferr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed tax, net, during <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>the year<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 249.522px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.787px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">1 January<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 413.783px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">484<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>164</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.852px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Intangible assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 383.467px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>39</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Property, plant<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> and equipment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 318.047px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 556.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Provisions, et<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>c.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-146</span><span style="position: absolute; display: inline-block; left: 0px; top: 99.1387px; width: 556.928px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ax loss carry-forw<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ards<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 359.935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>27</span><span style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 556.852px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 436.605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-37<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-34</span><span style="position: absolute; display: inline-block; left: 0px; top: 128.92px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Recognised in <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>the income statement<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 288.557px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-42<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-93</span><span style="position: absolute; display: inline-block; left: 0px; top: 158.701px; width: 556.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> t<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>o held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 355.611px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-14</span><span style="position: absolute; display: inline-block; left: 0px; top: 173.592px; width: 557.045px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> including business combinations<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 282.035px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-44<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>427</span><span style="position: absolute; display: inline-block; left: 0px; top: 188.482px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 397.305px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>423<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>484</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:79.84375px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 556.717px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Unreco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised deferred <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tax assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 298.195px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.7012px; width: 556.881px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Deductible tempor<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ary differences<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 302.935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">103<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>125</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5918px; width: 556.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ax loss carry-forw<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ards<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 351.363px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>780<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>782</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.641px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Unused tax credits<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 380.197px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 557.033px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 436.207px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>895<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>918</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The unreco<span class="_ _2"/>gnised deferred <span class="_ _2"/>tax assets have no significant<span class="_ _2"/> time limitations<span class="_ _2"/>. <span class="_ _2"/>There ar<span class="_ _2"/>e no substantial unrec<span class="_ _2"/>ognised tax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities on investments in<span class="_ _2"/> subsidiaries, associa<span class="_ _2"/>ted companies and joint <span class="_ _2"/>ventur<span class="_ _2"/>es.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _0"/>axation of activities</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">As a global inte<span class="_ _2"/>grat<span class="_ _2"/>or of c<span class="_ _2"/>ontainer<span class="_ _2"/> logistics,<span class="_ _2"/> A.P<span class="_ _4"/>. Moller - Maersk generates pr<span class="_ _2"/>ofits from oc<span class="_ _2"/>ean, air<span class="_ _2"/> or<span class="_ _2"/> land-based activities.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The land-based activities,<span class="_ _2"/> which are subject<span class="_ _2"/> t<span class="_ _2"/>o normal corporat<span class="_ _2"/>e income tax,<span class="_ _2"/> include terminals<span class="_ _2"/>, lo<span class="_ _2"/>gistics, servic<span class="_ _2"/>es and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">shipping agencies thr<span class="_ _2"/>ough which <span class="_ _2"/>the Group oper<span class="_ _2"/>ate one of <span class="_ _2"/>the world’<span class="_ _2"/>s most compr<span class="_ _2"/>ehensive port and int<span class="_ _2"/>egr<span class="_ _2"/>ated logistics </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">service networks.<span class="_ _2"/> <span class="_ _2"/>The logistics products include <span class="_ _2"/>transportation,<span class="_ _2"/> w<span class="_ _2"/>arehousing and distribution including cold st<span class="_ _2"/>orage<span class="_ _2"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">customs services and supply<span class="_ _2"/> chain management<span class="_ _2"/> services.<span class="_ _2"/> This expanding land-based activity<span class="_ _2"/> has prompt<span class="_ _2"/>ed the estab-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">lishment and acquisition<span class="_ _2"/> of entities in numerous coun<span class="_ _2"/>tries.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>On the ocean,<span class="_ _2"/> <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk moves millions of <span class="_ _2"/>TEUs every<span class="_ _2"/> y<span class="_ _2"/>ear and oper<span class="_ _2"/>ates hundr<span class="_ _2"/>eds of v<span class="_ _2"/>essels delivering </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cargo to ev<span class="_ _2"/>ery corner<span class="_ _2"/> of the globe<span class="_ _2"/>, including dry<span class="_ _2"/> cargo commodities<span class="_ _2"/>, r<span class="_ _2"/>efriger<span class="_ _2"/>ated carg<span class="_ _2"/>o and dangerous car<span class="_ _2"/>go.<span class="_ _2"/> This ocean </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">activity<span class="_ _2"/>,<span class="_ _2"/> which r<span class="_ _2"/>epresents <span class="_ _2"/>the v<span class="_ _2"/>ast majority of <span class="_ _2"/>the Group’<span class="_ _0"/>s current r<span class="_ _2"/>evenues,<span class="_ _2"/> may be subject<span class="_ _2"/> t<span class="_ _2"/>o special shipping tax rules,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">including tonnage and freight taxes<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Global Minimum T<span class="_ _0"/>axation (OE<span class="_ _2"/>CD Pil<span class="_ _2"/>lar<span class="_ _2"/> T<span class="_ _0"/>wo)</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">In an effort<span class="_ _2"/> to end <span class="_ _2"/>tax avoidance and <span class="_ _2"/>to addres<span class="_ _2"/>s concerns about <span class="_ _2"/>the erosion of <span class="_ _2"/>the global corpora<span class="_ _2"/>te tax base,<span class="_ _2"/> a global </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">frame<span class="_ _2"/>work for<span class="_ _2"/> corpor<span class="_ _2"/>ate taxation<span class="_ _2"/> has been formed by<span class="_ _2"/> the OECD/<span class="_ _2"/>G20 Inclusive Fr<span class="_ _2"/>amework and is supported by<span class="_ _2"/> over<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">135 jurisdictions.<span class="_ _2"/> One of the k<span class="_ _2"/>ey elements is <span class="_ _2"/>to intr<span class="_ _2"/>oduce a global minimum tax r<span class="_ _0"/>ate of 15%, based on gr<span class="_ _2"/>oup accounting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income per<span class="_ _2"/> jurisdiction.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The minimum tax rules ar<span class="_ _2"/>e designed as a hier<span class="_ _2"/>archy<span class="_ _2"/> of the right<span class="_ _2"/> to claim<span class="_ _2"/> income tax.<span class="_ _2"/> If the income is not<span class="_ _2"/> subject t<span class="_ _2"/>o a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">minimum effective <span class="_ _2"/>tax ra<span class="_ _2"/>te of 15% in the c<span class="_ _2"/>ountry wher<span class="_ _2"/>e it is earned,<span class="_ _2"/> then<span class="_ _2"/> the remaining <span class="_ _2"/>tax payment<span class="_ _2"/> (top-up tax) can </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">be picked up by<span class="_ _2"/> another<span class="_ _2"/> jurisdiction wher<span class="_ _2"/>e the Gr<span class="_ _2"/>oup is active.<span class="_ _2"/> For<span class="_ _2"/> the Group<span class="_ _2"/>, Denmark <span class="_ _2"/>will add top-up <span class="_ _2"/>tax if not applied </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">locally<span class="_ _2"/> as the ul<span class="_ _2"/>timate paren<span class="_ _2"/>t entity<span class="_ _2"/> of the Group<span class="_ _2"/>, <span class="_ _2"/>A.P<span class="_ _4"/>. Møller<span class="_ _2"/> Holding <span class="_ _2"/>A/S,<span class="_ _2"/> is located in<span class="_ _2"/> Denmark.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>The Danish implementation of Council Dir<span class="_ _2"/>ective (EU) 2022/2523 of 14 December<span class="_ _2"/> 2022 is effective fr<span class="_ _2"/>om 1 <span class="_ _2"/>January </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">202<span class="_ _2"/>4.<span class="_ _0"/> Thi<span class="_ _2"/>s mea<span class="_ _2"/>ns <span class="_ _2"/>that<span class="_ _2"/> <span class="_ _2"/>A.P<span class="_ _4"/>.<span class="_ _2"/> Mol<span class="_ _2"/>ler<span class="_ _0"/> - Mae<span class="_ _2"/>rsk’<span class="_ _0"/>s income is subject t<span class="_ _2"/>o the minimum <span class="_ _2"/>tax rules for<span class="_ _2"/> all jurisdictions <span class="_ _2"/>via Danish </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">implementation for<span class="_ _0"/> the financial year<span class="_ _2"/> 2024 and on<span class="_ _2"/>wards<span class="_ _2"/>. It<span class="_ _2"/> is expected <span class="_ _2"/>that many<span class="_ _2"/> jurisdictions will implement<span class="_ _2"/> similar<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">legislation.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Because the Danish implementa<span class="_ _2"/>tion covers <span class="_ _2"/>the Group’<span class="_ _2"/>s global activities,<span class="_ _2"/> it is not<span class="_ _2"/> expected <span class="_ _2"/>that other<span class="_ _2"/> national imple-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">mentations will ha<span class="_ _2"/>ve a significant<span class="_ _2"/> additional impact t<span class="_ _2"/>o the global <span class="_ _2"/>tax payments of the Gr<span class="_ _2"/>oup.<span class="_ _2"/> It may<span class="_ _0"/>, howev<span class="_ _2"/>er<span class="_ _0"/>, have an </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">impact on <span class="_ _2"/>the location wher<span class="_ _2"/>e potential <span class="_ _2"/>top-up taxes <span class="_ _2"/>will be paid.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Three elements ar<span class="_ _2"/>e key<span class="_ _2"/> t<span class="_ _2"/>o understanding how the rules wil<span class="_ _2"/>l impact the Gr<span class="_ _2"/>oup.<span class="_ _2"/> First, <span class="_ _2"/>the Group does not<span class="_ _2"/> set up artificial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">structures in low<span class="_ _2"/>-<span class="_ _2"/>tax jurisdictions for<span class="_ _2"/> tax purposes or<span class="_ _2"/> earn significant<span class="_ _2"/> profits in such<span class="_ _2"/> jurisdictions, <span class="_ _2"/>which means that<span class="_ _2"/> our<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">business structure itself is not<span class="_ _2"/> impacted significantl<span class="_ _2"/>y by<span class="_ _2"/> the rules,<span class="_ _2"/> but some additional <span class="_ _2"/>tax may bec<span class="_ _2"/>ome payable wher<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">services are provided in lo<span class="_ _2"/>w-<span class="_ _2"/>tax jurisdictions.<span class="_ _2"/> Second, <span class="_ _2"/>tax incentives given <span class="_ _2"/>to capital projects<span class="_ _2"/>, such as critical infr<span class="_ _2"/>astructur<span class="_ _2"/>e, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">will be consider<span class="_ _2"/>ed less effective going f<span class="_ _2"/>orward as it<span class="_ _2"/> will impact<span class="_ _2"/> the effectiv<span class="_ _2"/>e tax r<span class="_ _2"/>ate and <span class="_ _2"/>thereby<span class="_ _2"/> the basis for<span class="_ _0"/> potential </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">top-up tax.<span class="_ _2"/> <span class="_ _2"/>Third,<span class="_ _2"/> although <span class="_ _2"/>the rules exclude <span class="_ _0"/>‘international shipping income’<span class="_ _0"/>, the definition is mor<span class="_ _2"/>e restrictive <span class="_ _2"/>than <span class="_ _2"/>the global<span class="_ _1"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">definitions usually<span class="_ _2"/> applied under<span class="_ _2"/> a tax <span class="_ _2"/>treaty<span class="_ _2"/> following <span class="_ _2"/>the OECD Model <span class="_ _2"/>T<span class="_ _0"/>ax Convention or<span class="_ _2"/> under<span class="_ _2"/> Danish <span class="_ _2"/>tonnage tax.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Also,<span class="_ _2"/> inland tr<span class="_ _2"/>ansportation is not<span class="_ _2"/> a part of <span class="_ _2"/>the international shipping income under<span class="_ _2"/> <span class="_ _2"/>the global minimum tax rules.<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">This is relev<span class="_ _2"/>ant f<span class="_ _2"/>or <span class="_ _2"/>the part of our<span class="_ _0"/> land transport<span class="_ _2"/> linked dir<span class="_ _2"/>ectly <span class="_ _2"/>to ocean <span class="_ _2"/>transporta<span class="_ _2"/>tion which is r<span class="_ _2"/>ecognised as shipping </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">income for<span class="_ _2"/> tax <span class="_ _2"/>treatmen<span class="_ _2"/>t in <span class="_ _2"/>the OECD Model <span class="_ _2"/>T<span class="_ _0"/>ax Convention. <span class="_ _2"/>The Gr<span class="_ _2"/>oup is awaiting further<span class="_ _2"/> guidance on <span class="_ _2"/>the application </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the shipping income pr<span class="_ _2"/>ovision fr<span class="_ _2"/>om the OECD Secr<span class="_ _2"/>etariat.<span class="_ _2"/> Contr<span class="_ _2"/>ary t<span class="_ _2"/>o the purpose of <span class="_ _2"/>the rules, <span class="_ _2"/>top-up <span class="_ _2"/>tax could be </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">triggered b<span class="_ _2"/>y the shipping classifica<span class="_ _2"/>tion in y<span class="_ _2"/>ears where shipping net<span class="_ _2"/> income is negative<span class="_ _2"/>. Due <span class="_ _2"/>to the design<span class="_ _2"/> of tonnage <span class="_ _2"/>tax-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ation,<span class="_ _2"/> the Group’<span class="_ _0"/>s effective tax r<span class="_ _2"/>ate fluctuates significan<span class="_ _2"/>tly depending on <span class="_ _2"/>the yearl<span class="_ _2"/>y r<span class="_ _2"/>esults and wil<span class="_ _2"/>l also be calculated </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on a consolidated basis <span class="_ _2"/>with other<span class="_ _2"/> activities in the given<span class="_ _2"/> country in accor<span class="_ _2"/>dance with <span class="_ _2"/>the global minimum tax rules<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>T<span class="_ _0"/>aking the tr<span class="_ _2"/>ansitional Safe Harbour<span class="_ _0"/> regulations into consider<span class="_ _2"/>ation,<span class="_ _2"/> our<span class="_ _2"/> analysis shows <span class="_ _2"/>that no mat<span class="_ _2"/>erial top-up <span class="_ _2"/>tax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">should apply <span class="_ _2"/>to <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk in 2024<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _9"> </span>SIGNIFICANT AC<span class="_ _2"/>COUNTING ESTIMATES </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deferred tax assets</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Judgement has been<span class="_ _2"/> applied with respect<span class="_ _2"/> t<span class="_ _2"/>o </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _0"/>.<span class="_ _2"/> Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s ability <span class="_ _2"/>to utilise deferr<span class="_ _2"/>ed tax as<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sets.<span class="_ _2"/> Management considers <span class="_ _2"/>the likelihood of utilisa<span class="_ _2"/>tion </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">based on the lat<span class="_ _2"/>est business plans and <span class="_ _2"/>the recent<span class="_ _2"/> finan<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cial performances of <span class="_ _2"/>the individual entities.<span class="_ _2"/> Net deferr<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax assets reco<span class="_ _2"/>gnised in entities having r<span class="_ _2"/>ecognised an </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">accounting loss in either<span class="_ _2"/> the curr<span class="_ _2"/>ent<span class="_ _2"/> or pr<span class="_ _2"/>eceding period </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">amount <span class="_ _2"/>to USD 156m (USD<span class="_ _2"/> 163m). <span class="_ _2"/>These assets mainly<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">relat<span class="_ _2"/>e to unused <span class="_ _2"/>tax losses or<span class="_ _2"/> deductible tempor<span class="_ _2"/>ary dif<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ferenc<span class="_ _2"/>es genera<span class="_ _2"/>ted during the construction of <span class="_ _2"/>terminals,<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">where <span class="_ _2"/>taxable profits hav<span class="_ _2"/>e been gener<span class="_ _2"/>ated either<span class="_ _2"/> in the<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">current<span class="_ _2"/> period or<span class="_ _2"/> are expected <span class="_ _2"/>to be gener<span class="_ _2"/>ated <span class="_ _2"/>within </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the foreseeable futur<span class="_ _2"/>e.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Uncertain tax positions</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk is engaged in a number<span class="_ _0"/> of disputes </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">with tax authorities of <span class="_ _2"/>varying scope.<span class="_ _2"/> <span class="_ _2"/>Appropriat<span class="_ _2"/>e pro<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">visions and reco<span class="_ _2"/>gnition of uncertain tax positions ha<span class="_ _2"/>ve </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">been made wher<span class="_ _2"/>e the probability<span class="_ _2"/> of the <span class="_ _2"/>tax position being </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">upheld in individual cases is considered less <span class="_ _2"/>than 50%.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Claims for<span class="_ _2"/> which <span class="_ _2"/>the probability<span class="_ _2"/> of A.P<span class="_ _4"/>. Mol<span class="_ _2"/>ler - Maersk’<span class="_ _0"/>s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax position being upheld is assessed by<span class="_ _2"/> Management<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to be at<span class="_ _2"/> least 50%,<span class="_ _2"/> are not<span class="_ _2"/> provided for<span class="_ _0"/>.<span class="_ _2"/> Such risks are<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">instead e<span class="_ _2"/>valuated on a<span class="_ _2"/> portfolio basis by g<span class="_ _2"/>eogr<span class="_ _2"/>aphical </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">area and coun<span class="_ _2"/>try risk.<span class="_ _2"/> Provisions and uncertain<span class="_ _2"/> tax liabili-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ties are r<span class="_ _2"/>ecognised when <span class="_ _2"/>the aggre<span class="_ _2"/>gated pr<span class="_ _2"/>obability of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the tax position being upheld is considered less <span class="_ _2"/>than 50%.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ta<span class="_ _5"/>x<span class="_ _1"/><span class="ff3 ls9 ws0"> comprises an estimate of current<span class="_ _2"/> and deferred in<span class="ls0">-</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">come tax as well as <span class="_ _1"/>adjustments to previous years taxes<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Income tax is <span class="_ _2"/>tax on taxable pr<span class="_ _2"/>ofits,<span class="_ _2"/> and consists of cor-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pora<span class="_ _2"/>tion tax,<span class="_ _2"/> withholding tax of dividends<span class="_ _2"/>, et<span class="_ _2"/>c. In addition,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax comprises tonnag<span class="_ _2"/>e tax.<span class="_ _2"/> T<span class="_ _0"/>onnage <span class="_ _2"/>tax is classified as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax when cr<span class="_ _2"/>editable in, or<span class="_ _2"/> paid in lieu of<span class="_ _0"/>, income tax.<span class="_ _2"/> <span class="_ _2"/>T<span class="_ _0"/>ax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is reco<span class="_ _2"/>gnised in the income stat<span class="_ _2"/>ement <span class="_ _2"/>to the ext<span class="_ _2"/>ent <span class="_ _2"/>that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">it<span class="_ _2"/> arises from it<span class="_ _2"/>ems recognised in<span class="_ _2"/> the income stat<span class="_ _2"/>ement,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">including tax on gains on intr<span class="_ _2"/>a-group <span class="_ _2"/>tr<span class="_ _2"/>ansactions that<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">have been eliminat<span class="_ _2"/>ed in the consolidation.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deferred tax<span class="ff3"> is calculated on<span class="_ _2"/> tempor<span class="_ _2"/>ary diff<span class="_ _2"/>erences be-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tween the carrying amoun<span class="_ _2"/>ts and tax bases of assets and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities.<span class="_ _2"/> Deferred <span class="_ _2"/>tax is not r<span class="_ _2"/>ecognised for<span class="_ _0"/> differences </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on the initial r<span class="_ _2"/>ecognition of assets or<span class="_ _0"/> liabilities, wher<span class="_ _2"/>e at </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the time of the transaction neither<span class="_ _2"/> accounting nor taxable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">profit/loss is aff<span class="_ _2"/>ected, unless <span class="_ _2"/>the differ<span class="_ _2"/>ences arise in a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">business combination.<span class="_ _2"/> In addition, no def<span class="_ _2"/>erred <span class="_ _2"/>tax is rec<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ognised for<span class="_ _2"/> undistributed earnings in<span class="_ _2"/> subsidiaries,<span class="_ _2"/> when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk controls <span class="_ _2"/>the timing of dividends<span class="_ _2"/>. No </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">taxable dividends are curr<span class="_ _2"/>ently<span class="_ _2"/> expected.<span class="_ _2"/> A<span class="_ _2"/> deferr<span class="_ _2"/>ed tax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">asset is r<span class="_ _2"/>ecognised t<span class="_ _2"/>o the exten<span class="_ _2"/>t <span class="_ _2"/>that it<span class="_ _2"/> is probable tha<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">it can be utilised within a for<span class="_ _2"/>eseeable future<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:212.75px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 368.531px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Recognised def<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erred tax as<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>sets and liabilities are attributable <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>to the f<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ollowing:</span><span style="position: absolute; display: inline-block; left: 167.422px; top: 24.6855px; width: 352.529px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.319px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Liabilities<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 100.002px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Net liabilities</span><span style="position: absolute; display: inline-block; left: 148px; top: 49.3574px; width: 408.34px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 74.0449px; width: 556.723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Intangible assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 81.4395px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>40<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>44<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>561<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>453<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>521<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>409</span><span style="position: absolute; display: inline-block; left: 0px; top: 88.9199px; width: 94.2773px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Property, plant<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> and </span><span style="position: absolute; display: inline-block; left: 0px; top: 100.936px; width: 556.764px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">equipment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.268px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>40<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>51<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>278<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>314<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>238<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>263</span><span style="position: absolute; display: inline-block; left: 0px; top: 115.811px; width: 557.086px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Provisions, et<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>c.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 83.4082px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>255<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>248<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>48<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>173<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-207<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-75</span><span style="position: absolute; display: inline-block; left: 0px; top: 130.701px; width: 70.2246px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ax loss carry- </span><span style="position: absolute; display: inline-block; left: 0px; top: 142.701px; width: 556.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">forwar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ds<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 119.326px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>75<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>103<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-75<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-103</span><span style="position: absolute; display: inline-block; left: 0px; top: 157.592px; width: 556.664px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.367px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>150<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>119<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>96<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>106<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-54<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-13</span><span style="position: absolute; display: inline-block; left: 0px; top: 172.482px; width: 557.004px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>560<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>565<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>983<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,046<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>423<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>481</span><span style="position: absolute; display: inline-block; left: 0px; top: 187.373px; width: 556.723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Offsets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.18px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-217<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-166<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-217<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.0625px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-163<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.264px; width: 556.975px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 127.576px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>343<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>399<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>766<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>883<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>423<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>484</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:198.96875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 557.086px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Change in deferr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed tax, net, during <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>the year<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 249.522px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.6855px; width: 556.787px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">1 January<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 413.783px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">484<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>164</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.852px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Intangible assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 383.467px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-11<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>39</span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Property, plant<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> and equipment<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 318.047px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21</span><span style="position: absolute; display: inline-block; left: 0px; top: 84.248px; width: 556.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Provisions, et<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>c.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 396px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-146</span><span style="position: absolute; display: inline-block; left: 0px; top: 99.1387px; width: 556.928px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ax loss carry-forw<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ards<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 359.935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>27</span><span style="position: absolute; display: inline-block; left: 0px; top: 114.029px; width: 556.852px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 436.605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-37<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-34</span><span style="position: absolute; display: inline-block; left: 0px; top: 128.92px; width: 556.887px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Recognised in <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>the income statement<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 288.557px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-42<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-93</span><span style="position: absolute; display: inline-block; left: 0px; top: 158.701px; width: 556.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ansfer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> t<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>o held for<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> sale<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 355.611px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-14</span><span style="position: absolute; display: inline-block; left: 0px; top: 173.592px; width: 557.045px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> including business combinations<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 282.035px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-44<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>427</span><span style="position: absolute; display: inline-block; left: 0px; top: 188.482px; width: 556.816px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 397.305px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>423<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>484</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:79.84375px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 556.717px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Unreco<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gnised deferred <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tax assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 298.195px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.7012px; width: 556.881px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Deductible tempor<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ary differences<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 302.935px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">103<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>125</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 39.5918px; width: 556.834px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ax loss carry-forw<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ards<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 351.363px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>780<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>782</span><span style="position: absolute; display: inline-block; left: 0px; top: 54.4668px; width: 556.641px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Unused tax credits<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 380.197px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 69.3574px; width: 557.033px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 436.207px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>895<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>918</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The unreco<span class="_ _2"/>gnised deferred <span class="_ _2"/>tax assets have no significant<span class="_ _2"/> time limitations<span class="_ _2"/>. <span class="_ _2"/>There ar<span class="_ _2"/>e no substantial unrec<span class="_ _2"/>ognised tax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities on investments in<span class="_ _2"/> subsidiaries, associa<span class="_ _2"/>ted companies and joint <span class="_ _2"/>ventur<span class="_ _2"/>es.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ta<span class="_ _5"/>x<span class="_ _1"/><span class="ff3 ls9 ws0"> comprises an estimate of current<span class="_ _2"/> and deferred in<span class="ls0">-</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">come tax as well as <span class="_ _1"/>adjustments to previous years taxes<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Income tax is <span class="_ _2"/>tax on taxable pr<span class="_ _2"/>ofits,<span class="_ _2"/> and consists of cor-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pora<span class="_ _2"/>tion tax,<span class="_ _2"/> withholding tax of dividends<span class="_ _2"/>, et<span class="_ _2"/>c. In addition,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax comprises tonnag<span class="_ _2"/>e tax.<span class="_ _2"/> T<span class="_ _0"/>onnage <span class="_ _2"/>tax is classified as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax when cr<span class="_ _2"/>editable in, or<span class="_ _2"/> paid in lieu of<span class="_ _0"/>, income tax.<span class="_ _2"/> <span class="_ _2"/>T<span class="_ _0"/>ax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is reco<span class="_ _2"/>gnised in the income stat<span class="_ _2"/>ement <span class="_ _2"/>to the ext<span class="_ _2"/>ent <span class="_ _2"/>that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">it<span class="_ _2"/> arises from it<span class="_ _2"/>ems recognised in<span class="_ _2"/> the income stat<span class="_ _2"/>ement,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">including tax on gains on intr<span class="_ _2"/>a-group <span class="_ _2"/>tr<span class="_ _2"/>ansactions that<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">have been eliminat<span class="_ _2"/>ed in the consolidation.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ta<span class="_ _5"/>x<span class="_ _1"/><span class="ff3 ls9 ws0"> comprises an estimate of current<span class="_ _2"/> and deferred in<span class="ls0">-</span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">come tax as well as <span class="_ _1"/>adjustments to previous years taxes<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Income tax is <span class="_ _2"/>tax on taxable pr<span class="_ _2"/>ofits,<span class="_ _2"/> and consists of cor-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pora<span class="_ _2"/>tion tax,<span class="_ _2"/> withholding tax of dividends<span class="_ _2"/>, et<span class="_ _2"/>c. In addition,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax comprises tonnag<span class="_ _2"/>e tax.<span class="_ _2"/> T<span class="_ _0"/>onnage <span class="_ _2"/>tax is classified as </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax when cr<span class="_ _2"/>editable in, or<span class="_ _2"/> paid in lieu of<span class="_ _0"/>, income tax.<span class="_ _2"/> <span class="_ _2"/>T<span class="_ _0"/>ax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is reco<span class="_ _2"/>gnised in the income stat<span class="_ _2"/>ement <span class="_ _2"/>to the ext<span class="_ _2"/>ent <span class="_ _2"/>that </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">it<span class="_ _2"/> arises from it<span class="_ _2"/>ems recognised in<span class="_ _2"/> the income stat<span class="_ _2"/>ement,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">including tax on gains on intr<span class="_ _2"/>a-group <span class="_ _2"/>tr<span class="_ _2"/>ansactions that<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">have been eliminat<span class="_ _2"/>ed in the consolidation.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deferred tax<span class="ff3"> is calculated on<span class="_ _2"/> tempor<span class="_ _2"/>ary diff<span class="_ _2"/>erences be-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tween the carrying amoun<span class="_ _2"/>ts and tax bases of assets and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities.<span class="_ _2"/> Deferred <span class="_ _2"/>tax is not r<span class="_ _2"/>ecognised for<span class="_ _0"/> differences </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on the initial r<span class="_ _2"/>ecognition of assets or<span class="_ _0"/> liabilities, wher<span class="_ _2"/>e at </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the time of the transaction neither<span class="_ _2"/> accounting nor taxable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">profit/loss is aff<span class="_ _2"/>ected, unless <span class="_ _2"/>the differ<span class="_ _2"/>ences arise in a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">business combination.<span class="_ _2"/> In addition, no def<span class="_ _2"/>erred <span class="_ _2"/>tax is rec<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ognised for<span class="_ _2"/> undistributed earnings in<span class="_ _2"/> subsidiaries,<span class="_ _2"/> when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk controls <span class="_ _2"/>the timing of dividends<span class="_ _2"/>. No </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">taxable dividends are curr<span class="_ _2"/>ently<span class="_ _2"/> expected.<span class="_ _2"/> A<span class="_ _2"/> deferr<span class="_ _2"/>ed tax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">asset is r<span class="_ _2"/>ecognised t<span class="_ _2"/>o the exten<span class="_ _2"/>t <span class="_ _2"/>that it<span class="_ _2"/> is probable tha<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">it can be utilised within a for<span class="_ _2"/>eseeable future<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Deferred tax<span class="ff3"> is calculated on<span class="_ _2"/> tempor<span class="_ _2"/>ary diff<span class="_ _2"/>erences be-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tween the carrying amoun<span class="_ _2"/>ts and tax bases of assets and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">liabilities.<span class="_ _2"/> Deferred <span class="_ _2"/>tax is not r<span class="_ _2"/>ecognised for<span class="_ _0"/> differences </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">on the initial r<span class="_ _2"/>ecognition of assets or<span class="_ _0"/> liabilities, wher<span class="_ _2"/>e at </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the time of the transaction neither<span class="_ _2"/> accounting nor taxable </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">profit/loss is aff<span class="_ _2"/>ected, unless <span class="_ _2"/>the differ<span class="_ _2"/>ences arise in a </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">business combination.<span class="_ _2"/> In addition, no def<span class="_ _2"/>erred <span class="_ _2"/>tax is rec<span class="_ _0"/>-</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ognised for<span class="_ _2"/> undistributed earnings in<span class="_ _2"/> subsidiaries,<span class="_ _2"/> when </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk controls <span class="_ _2"/>the timing of dividends<span class="_ _2"/>. No </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">taxable dividends are curr<span class="_ _2"/>ently<span class="_ _2"/> expected.<span class="_ _2"/> A<span class="_ _2"/> deferr<span class="_ _2"/>ed tax </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">asset is r<span class="_ _2"/>ecognised t<span class="_ _2"/>o the exten<span class="_ _2"/>t <span class="_ _2"/>that it<span class="_ _2"/> is probable tha<span class="_ _2"/>t </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">it can be utilised within a for<span class="_ _2"/>eseeable future<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 5.2 <span class="_"> </span>Shar<span class="_ _2"/>e-based payments</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:113.625px;"><span style="position: absolute; display: inline-block; left: 261.297px; top: 0.0136718px; width: 59.3379px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Members of <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 347.938px; top: 0.0136718px; width: 207.053px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Employees<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal fair </span><span style="position: absolute; display: inline-block; left: 556.547px; top: 11.8828px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1,2</span><span style="position: absolute; display: inline-block; left: 255.625px; top: 12.0137px; width: 65.9941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">the Executive </span><span style="position: absolute; display: inline-block; left: 527.25px; top: 12.0137px; width: 25.2949px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">value</span><span style="position: absolute; display: inline-block; left: 319.391px; top: 23.8828px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 291.531px; top: 24.0137px; width: 28.0898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Board</span><span style="position: absolute; display: inline-block; left: 0px; top: 48.6855px; width: 552.803px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Outstanding performance shar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>es <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.77px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>No.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>No.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.381px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>No.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 21.9317px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD million</span><span style="position: absolute; display: inline-block; left: 0px; top: 73.3574px; width: 479.115px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 237.551px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 71.5781px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 67.5233px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - </span></span><span style="position: absolute; display: inline-block; left: 0px; top: 88.248px; width: 552.568px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gran<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ted<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 252.234px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,028<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,040<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,068<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9</span><span style="position: absolute; display: inline-block; left: 0px; top: 103.139px; width: 475.857px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Outstanding 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 136.096px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,028<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,040<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6,068</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span><span class="ws0">The fair<span class="_ _2"/> v<span class="_ _2"/>alue per perf<span class="_ _2"/>ormance share is equal t<span class="_ _2"/>o the v<span class="_ _2"/>olume weighted aver<span class="_ _2"/>age share pric<span class="_ _2"/>e on the date of gr<span class="_ _2"/>ant i.<span class="_ _2"/>e., 1 <span class="_ _2"/>April 2023<span class="_ _2"/>, <span class="ls0"> </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">adjusted for<span class="_ _2"/> expected dividends during <span class="_ _2"/>the vesting period.<span class="_ _2"/> The f<span class="_ _2"/>air <span class="_ _2"/>value per<span class="_ _2"/> performance share in<span class="_ _2"/> 2023 is DKK 10,299 for<span class="_ _2"/> members </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of the Executive Boar<span class="_ _2"/>d and employees.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>T<span class="_ _0"/>otal fair <span class="_ _2"/>value is at <span class="_ _2"/>the time of gr<span class="_ _2"/>ant.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Performance shares plan</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">From 2023<span class="_ _2"/>,<span class="_ _2"/> performance shares ar<span class="_ _2"/>e gr<span class="_ _2"/>anted t<span class="_ _2"/>o members of the Executive Boar<span class="_ _2"/>d and certain k<span class="_ _2"/>ey emplo<span class="_ _2"/>yees.<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Each performance shar<span class="_ _2"/>e gr<span class="_ _2"/>anted is a right<span class="_ _2"/> to poten<span class="_ _2"/>tially<span class="_ _2"/> receive an<span class="_ _2"/> existing B share of nominal DKK 1,000 in<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Møller<span class="_ _2"/> - Mærsk A/S<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _2"/>r<span class="_ _2"/>ansfer<span class="_ _2"/> of B shares is con<span class="_ _2"/>tingent upon <span class="_ _2"/>the fulfilment<span class="_ _2"/> of certain performance crit<span class="_ _2"/>eria being met, <span class="_ _2"/>which may include<span class="_ _2"/>, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">but ar<span class="_ _2"/>e not limited <span class="_ _2"/>to return<span class="_ _2"/> on invested capital,<span class="_ _2"/> rela<span class="_ _2"/>tive share perf<span class="_ _2"/>ormance, r<span class="_ _2"/>evenue gr<span class="_ _2"/>owth and ESG elements.<span class="_ _2"/> <span class="_ _2"/>V<span class="_ _2"/>esting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">is also contingent<span class="_ _2"/> upon the employ<span class="_ _2"/>ee still being employed and not<span class="_ _2"/> under<span class="_ _2"/> notice of termination<span class="_ _2"/> when thr<span class="_ _2"/>ee years ha<span class="_ _2"/>ve </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">passed from <span class="_ _2"/>the date of gr<span class="_ _2"/>anting.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Employees ar<span class="_ _2"/>e not entitled <span class="_ _2"/>to any dividends during <span class="_ _2"/>the vesting period.<span class="_ _2"/> Special conditions appl<span class="_ _2"/>y re<span class="_ _2"/>garding il<span class="_ _2"/>lness,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">death and resigna<span class="_ _2"/>tion as well as chang<span class="_ _2"/>es in the company’<span class="_ _0"/>s capital structure, et<span class="_ _2"/>c. <span class="_ _0"/>A pa<span class="_ _2"/>rt <span class="_ _2"/>of <span class="_ _2"/>A.P<span class="_ _4"/>.<span class="_ _2"/> Møl<span class="_ _2"/>ler<span class="_ _0"/> - Mær<span class="_ _2"/>sk <span class="_ _2"/>A/S<span class="_ _0"/>’<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">treasury<span class="_ _2"/> B shares wil<span class="_ _2"/>l be used to meet<span class="_ _2"/> the company’<span class="_ _0"/>s obligations in connection with the perf<span class="_ _2"/>ormance shares plan.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The reco<span class="_ _2"/>gnised remuner<span class="_ _2"/>ation expense r<span class="_ _2"/>elated t<span class="_ _2"/>o the performance shar<span class="_ _2"/>es plan is USD 2m (USD<span class="_ _2"/> 0m). </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The aver<span class="_ _2"/>age remaining con<span class="_ _2"/>tractual lif<span class="_ _2"/>e of the performance shar<span class="_ _2"/>es as per<span class="_ _2"/> 31 December<span class="_ _2"/> 2023 is 2.3 years (N/<span class="_ _2"/>A<span class="_ _2"/> in 2022).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:259.65625px;"><span style="position: absolute; display: inline-block; left: 261.875px; top: 0.0136718px; width: 59.3379px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Members of <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 355.344px; top: 0.0136718px; width: 46.9512px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> key<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 452.234px; top: 0.0136718px; width: 103.066px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal fair </span><span style="position: absolute; display: inline-block; left: 556.078px; top: 11.8828px; width: 9.43359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1,2</span><span style="position: absolute; display: inline-block; left: 254.781px; top: 12.0137px; width: 65.9941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">the Executive </span><span style="position: absolute; display: inline-block; left: 337.406px; top: 12.0137px; width: 65.1855px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">management </span><span style="position: absolute; display: inline-block; left: 527.328px; top: 12.0137px; width: 25.2949px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">value</span><span style="position: absolute; display: inline-block; left: 319.391px; top: 23.8828px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 291.047px; top: 24.0137px; width: 28.0898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Board</span><span style="position: absolute; display: inline-block; left: 333.359px; top: 24.0137px; width: 68.1504px; white-space: pre; word-spacing: 0px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">personnel and </span><span style="position: absolute; display: inline-block; left: 395.5px; top: 35.8828px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">4</span><span style="position: absolute; display: inline-block; left: 344.141px; top: 36.0137px; width: 50.959px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">employees</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.6855px; width: 553.102px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Outstanding restricted shar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>es<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>No.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>No.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.381px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>No.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.3594px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD million</span><span style="position: absolute; display: inline-block; left: 0px; top: 85.3574px; width: 476.186px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.029px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">6,557<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17,253<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>23,810</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 100.248px; width: 552.445px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gran<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ted<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 277.143px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14,600<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14,600<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>23</span><span style="position: absolute; display: inline-block; left: 98.5px; top: 115.023px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 0px; top: 115.139px; width: 98.2207px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exercised and vested</span><span style="position: absolute; display: inline-block; left: 298.688px; top: 115.139px; width: 176.613px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">941<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,146<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,087</span><span style="position: absolute; display: inline-block; left: 0px; top: 129.295px; width: 476.109px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Forfeited<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 270.692px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.8261px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,183<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,183</span><span style="position: absolute; display: inline-block; left: 0px; top: 144.936px; width: 476.197px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Cancelled<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 268.852px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 68.0685px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12</span><span style="position: absolute; display: inline-block; left: 0px; top: 159.826px; width: 475.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Outstanding 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 136.096px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,616<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>24,512<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>30,128</span><span style="position: absolute; display: inline-block; left: 0px; top: 189.607px; width: 476.186px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2022<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.029px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">5,268<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>16,618<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>21,886</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 204.498px; width: 552.604px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gran<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ted<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 252.234px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,289<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 51.3517px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5,431<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>6,720<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>17</span><span style="position: absolute; display: inline-block; left: 98.5px; top: 219.273px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 0px; top: 219.389px; width: 98.2207px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exercised and vested</span><span style="position: absolute; display: inline-block; left: 312.125px; top: 219.404px; width: 164.432px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 49.4648px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,458<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,458</span><span style="position: absolute; display: inline-block; left: 0px; top: 234.295px; width: 476.027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Forfeited<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 267.978px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>338<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>338</span><span style="position: absolute; display: inline-block; left: 0px; top: 249.17px; width: 475.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Outstanding 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 136.096px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>6,557<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>17,253<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>23,810</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span><span class="ws0">The fair<span class="_ _2"/> v<span class="_ _2"/>alue per RSU is equal <span class="_ _2"/>to the <span class="_ _2"/>volume weighted av<span class="_ _2"/>erage shar<span class="_ _2"/>e price on the dat<span class="_ _2"/>e of grant<span class="_ _2"/> i.e.,<span class="_ _2"/> 1 April 2023 (1 <span class="_ _2"/>April 2022),<span class="_ _2"/> <span class="ls0"> </span></span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">adjusted for<span class="_ _2"/> expected dividends during <span class="_ _2"/>the vesting period.<span class="_ _2"/> The f<span class="_ _2"/>air <span class="_ _2"/>value per<span class="_ _2"/> RSU is DKK 10,299 (DKK 17<span class="_ _0"/>,466) for<span class="_ _2"/> employees and <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">DKK 9,295 (DKK 15<span class="_ _2"/>,7<span class="_ _2"/>63) for<span class="_ _2"/> members of the Executiv<span class="_ _2"/>e Board and other<span class="_ _2"/> key<span class="_ _2"/> management personnel.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>T<span class="_ _0"/>otal fair <span class="_ _2"/>value is at <span class="_ _2"/>the time of gr<span class="_ _2"/>ant.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>The weighted averag<span class="_ _2"/>e share price at <span class="_ _2"/>the settlement dat<span class="_ _2"/>e was DKK 12,<span class="_ _2"/>732 (DKK 20,372).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _9"> </span>Restricted shares gr<span class="_ _2"/>anted <span class="_ _2"/>to other<span class="_ _2"/> key<span class="_ _2"/> management personnel in 2022 <span class="_ _2"/>was 115 and outstanding shares at<span class="_ _2"/> year<span class="_ _2"/>-end 2022 was 403<span class="_ _2"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">There wer<span class="_ _2"/>e no key<span class="_ _2"/> management personnel in<span class="_ _2"/> 2023.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Restricted shares plan</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Restricted shar<span class="_ _2"/>es are gr<span class="_ _2"/>anted <span class="_ _2"/>to members of the Executiv<span class="_ _2"/>e Board and certain k<span class="_ _2"/>ey emplo<span class="_ _2"/>yees.<span class="_ _2"/> Each r<span class="_ _2"/>estricted share </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">gran<span class="_ _2"/>ted is a right <span class="_ _2"/>to r<span class="_ _2"/>eceive an existing B shar<span class="_ _2"/>e of nominal DKK 1,000 in <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Møller<span class="_ _2"/> - Mærsk <span class="_ _2"/>A/S.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">T<span class="_ _2"/>r<span class="_ _2"/>ansfer<span class="_ _2"/> of B shares is con<span class="_ _2"/>tingent upon <span class="_ _2"/>the employee stil<span class="_ _2"/>l being employed and not under<span class="_ _0"/> notice of termina<span class="_ _2"/>tion<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and tak<span class="_ _2"/>es place when <span class="_ _2"/>three <span class="_ _2"/>years have passed fr<span class="_ _2"/>om the dat<span class="_ _2"/>e of granting.<span class="_ _2"/> For<span class="_ _2"/> members of the Ex<span class="_ _2"/>ecutive Board <span class="_ _2"/>the <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">vesting period is five <span class="_ _2"/>years.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Employees ar<span class="_ _2"/>e not entitled <span class="_ _2"/>to any dividends during <span class="_ _2"/>the vesting period.<span class="_ _2"/> Special conditions appl<span class="_ _2"/>y re<span class="_ _2"/>garding il<span class="_ _2"/>lness,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">death and resigna<span class="_ _2"/>tion as well as chang<span class="_ _2"/>es in the company’<span class="_ _0"/>s capital structure, et<span class="_ _2"/>c. <span class="_ _0"/>A pa<span class="_ _2"/>rt <span class="_ _2"/>of <span class="_ _2"/>A.P<span class="_ _4"/>.<span class="_ _2"/> Møl<span class="_ _2"/>ler<span class="_ _0"/> - Mær<span class="_ _2"/>sk <span class="_ _2"/>A/S<span class="_ _0"/>’<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">treasury<span class="_ _2"/> B shares wil<span class="_ _2"/>l be used to meet<span class="_ _2"/> the company’<span class="_ _0"/>s obligations in connection with the r<span class="_ _2"/>estricted shar<span class="_ _2"/>es plan.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The reco<span class="_ _2"/>gnised remuner<span class="_ _2"/>ation expense r<span class="_ _2"/>elated t<span class="_ _2"/>o the r<span class="_ _2"/>estricted shares plan is USD<span class="_ _2"/> 16m (USD 15m).<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The aver<span class="_ _2"/>age remaining con<span class="_ _2"/>tractual lif<span class="_ _2"/>e of the r<span class="_ _2"/>estricted shares as per<span class="_ _2"/> 31 December<span class="_ _2"/> 2023 is 1.6 <span class="_ _2"/>years (1.6 y<span class="_ _2"/>ears).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:274.546875px;"><span style="position: absolute; display: inline-block; left: 193.5px; top: 0.0136718px; width: 59.6133px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Members of </span><span style="position: absolute; display: inline-block; left: 283.062px; top: 0.0136718px; width: 46.9512px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> key<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 380.141px; top: 0.0136718px; width: 102.668px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.9415px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Aver<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>age <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 515.078px; top: 0.0136718px; width: 44.4609px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 188.594px; top: 12.0137px; width: 65.9941px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">the Executive </span><span style="position: absolute; display: inline-block; left: 265.938px; top: 12.0137px; width: 65.1855px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">management </span><span style="position: absolute; display: inline-block; left: 442.047px; top: 12.0137px; width: 40.7402px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">exer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>cise <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 531.078px; top: 12.0137px; width: 25.2949px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">value</span><span style="position: absolute; display: inline-block; left: 223.234px; top: 24.0137px; width: 28.0898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Board</span><span style="position: absolute; display: inline-block; left: 261.297px; top: 24.0137px; width: 68.1504px; white-space: pre; word-spacing: 0px; letter-spacing: -0.105px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">personnel and </span><span style="position: absolute; display: inline-block; left: 456.969px; top: 24.0137px; width: 25.7402px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">price </span><span style="position: absolute; display: inline-block; left: 323.641px; top: 35.8828px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 273.188px; top: 36.0137px; width: 50.959px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">employees</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.6855px; width: 557.168px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Outstanding share options<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.268px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>No.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>No.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 60.381px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>No.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>DKK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 22.3594px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>USD million</span><span style="position: absolute; display: inline-block; left: 0px; top: 85.373px; width: 480.498px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2023<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 141.147px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">19,600<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>73,436<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>93,036<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13,452</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 100.264px; width: 557.045px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gran<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ted<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 208.969px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>23,323<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>23,323<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13,257<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10</span><span style="position: absolute; display: inline-block; left: 45.2344px; top: 115.023px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 115.139px; width: 47.2207px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exercised </span><span style="position: absolute; display: inline-block; left: 221.781px; top: 115.139px; width: 258.375px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">4,439<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>14,697<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>19,136<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>8,633</span><span style="position: absolute; display: inline-block; left: 0px; top: 130.029px; width: 480.264px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Forfeited<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 202.898px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,436<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,436<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15,327</span><span style="position: absolute; display: inline-block; left: 0px; top: 144.92px; width: 480.217px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Outstanding 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.5821px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>15,161<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>78,626<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>93,787<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>14,318</span><span style="position: absolute; display: inline-block; left: 0px; top: 159.811px; width: 480.357px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Exercisable 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 73.4239px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,302<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>22,882<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>27,184<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>8,309</span><span style="position: absolute; display: inline-block; left: 0px; top: 189.607px; width: 480.252px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">1 January 2022<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 141.147px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">24,930<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>77,831<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>102,761<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9,873</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 204.498px; width: 556.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Gran<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ted<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 184.324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,677<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>15,481<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>20,158<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25,096<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>9</span><span style="position: absolute; display: inline-block; left: 45.2344px; top: 219.273px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 219.373px; width: 47.2207px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exercised </span><span style="position: absolute; display: inline-block; left: 221.781px; top: 219.404px; width: 258.375px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">8,866<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>18,486<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>27,352<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>7,998</span><span style="position: absolute; display: inline-block; left: 0px; top: 234.295px; width: 480.211px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Forfeited<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 177.685px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,141<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,390<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,531<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>19,818</span><span style="position: absolute; display: inline-block; left: 0px; top: 249.17px; width: 480.217px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Outstanding 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 61.5821px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>19,600<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>73,436<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>93,036<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>13,452</span><span style="position: absolute; display: inline-block; left: 0px; top: 264.061px; width: 480.34px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Exercisable 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> 2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 95.3906px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> - <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 44.994px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>7,071<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>7,071<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>8,637</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>The weighted av<span class="_ _2"/>erage shar<span class="_ _2"/>e price at <span class="_ _2"/>the dates of exer<span class="_ _2"/>cise of share options exer<span class="_ _2"/>cised in 2023 was DKK 12,6<span class="_ _2"/>7<span class="_ _2"/>4 (DKK 19,833).<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span>Share options gr<span class="_ _2"/>anted t<span class="_ _2"/>o other k<span class="_ _2"/>ey managemen<span class="_ _2"/>t personnel during 2022 was 5<span class="_ _2"/>70 and shar<span class="_ _2"/>es outstanding at y<span class="_ _2"/>ear-end 2022 was 2,2<span class="_ _2"/>43.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">There wer<span class="_ _2"/>e no key<span class="_ _2"/> management personnel in<span class="_ _2"/> 2023.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Share options plan</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>.<span class="_ _2"/> Mol<span class="_ _2"/>ler<span class="_ _0"/> - Maers<span class="_ _2"/>k also has a shar<span class="_ _2"/>e option plan gr<span class="_ _2"/>anted t<span class="_ _2"/>o members of the Executive Boar<span class="_ _2"/>d and other<span class="_ _2"/> key<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">employees.<span class="_ _2"/> Each shar<span class="_ _2"/>e option gr<span class="_ _2"/>anted is a call option<span class="_ _2"/> to buy<span class="_ _2"/> an existing B share o<span class="_ _2"/>f nominal DKK 1,000 in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Møller<span class="_ _2"/> - Mærsk A/S<span class="_ _0"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The share options ar<span class="_ _2"/>e grant<span class="_ _2"/>ed at an e<span class="_ _2"/>xercise price corr<span class="_ _2"/>esponding to 110% o<span class="_ _2"/>f the aver<span class="_ _2"/>age of <span class="_ _2"/>the market<span class="_ _2"/> price on the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">first five <span class="_ _2"/>trading da<span class="_ _2"/>ys following <span class="_ _2"/>the release of <span class="_ _2"/>A.P<span class="_ _4"/>. Møller<span class="_ _2"/> - Mærsk <span class="_ _2"/>A/S<span class="_ _2"/>’<span class="_ _0"/> most recent<span class="_ _2"/> Annual Report.<span class="_ _2"/> Exer<span class="_ _2"/>cise of the shar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">options is contingent<span class="_ _2"/> upon the option holder<span class="_ _0"/> still being employed at <span class="_ _2"/>the time of <span class="_ _2"/>vesting, <span class="_ _2"/>which tak<span class="_ _2"/>es place when <span class="_ _2"/>three </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">years have passed fr<span class="_ _2"/>om the da<span class="_ _2"/>te of gran<span class="_ _2"/>t. <span class="_ _2"/>The share options can<span class="_ _2"/> then be exer<span class="_ _2"/>cised when at<span class="_ _2"/> least <span class="_ _2"/>three <span class="_ _2"/>years and no </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">more <span class="_ _2"/>than six years (se<span class="_ _2"/>ven y<span class="_ _2"/>ears for<span class="_ _2"/> share options gr<span class="_ _2"/>anted <span class="_ _2"/>to employees not<span class="_ _2"/> members of the Executive Boar<span class="_ _2"/>d) have<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">passed from <span class="_ _2"/>the date of gr<span class="_ _2"/>ant.<span class="_ _2"/> Special conditions apply<span class="_ _2"/> regar<span class="_ _2"/>ding illness<span class="_ _2"/>, death and r<span class="_ _2"/>esignation as w<span class="_ _2"/>ell as changes in </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">the <span class="_ _1"/>company’<span class="_ _2"/>s capital structure etc.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The <span class="_ _1"/>share <span class="_ _1"/>opt<span class="_ _1"/>ions<span class="_ _1"/> can<span class="_ _1"/> only b<span class="_ _1"/>e se<span class="_ _1"/>ttle<span class="_ _1"/>d i<span class="_ _1"/>n sha<span class="_ _1"/>res. <span class="_ _2"/>A<span class="_ _2"/> part of <span class="_ _2"/>A.P<span class="_ _4"/>. Møller<span class="_ _2"/> - Mærsk A/S<span class="_ _0"/>’<span class="_ _2"/> holding of tr<span class="_ _2"/>easury B shar<span class="_ _2"/>es will </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">be used to meet<span class="_ _2"/> the compan<span class="_ _2"/>y’s obliga<span class="_ _2"/>tions in respect<span class="_ _2"/> of the shar<span class="_ _2"/>e option plan.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The reco<span class="_ _2"/>gnised remuner<span class="_ _2"/>ation expense r<span class="_ _2"/>elated t<span class="_ _2"/>o the shar<span class="_ _2"/>e option plan is USD 10m (USD 11m).<span class="_ _0"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The aver<span class="_ _2"/>age remaining con<span class="_ _2"/>tractual lif<span class="_ _2"/>e of the outstanding shar<span class="_ _2"/>e options as per 31 December<span class="_ _0"/> 2023 is 4.4 years </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">(4.6 <span class="_ _2"/>years) and the r<span class="_ _2"/>ange of exer<span class="_ _2"/>cise prices for<span class="_ _2"/> <span class="_ _2"/>the outstanding share options as per<span class="_ _2"/> 31 December<span class="_ _2"/> 2023 is DKK 7<span class="_ _0"/>,605 </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to DKK 25<span class="_ _2"/>,096 (DKK 7<span class="_ _0"/>,605 t<span class="_ _2"/>o DKK 25,096).</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:248.75px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 424.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">The following principal assumptions ar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e used in <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>the 2023 grant<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ed share options v<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>aluation:</span><span style="position: absolute; display: inline-block; left: 283.391px; top: 24.6855px; width: 104.227px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Share options gr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>anted</span><span style="position: absolute; display: inline-block; left: 430.781px; top: 24.6855px; width: 121.588px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Share options gr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>anted <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>to </span><span style="position: absolute; display: inline-block; left: 291.047px; top: 36.6855px; width: 93.252px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">to members of the </span><span style="position: absolute; display: inline-block; left: 462.969px; top: 36.6855px; width: 53.5195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">employees </span><span style="position: absolute; display: inline-block; left: 274.25px; top: 48.6855px; width: 128.859px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Executive Boar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>d and other </span><span style="position: absolute; display: inline-block; left: 271.391px; top: 60.6855px; width: 129.891px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">key<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> management<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> personnel</span><span style="position: absolute; display: inline-block; left: 301.719px; top: 85.373px; width: 255.141px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 110.045px; width: 213.287px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Share price, <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>volume weighted a<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ver<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>age at <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>the </span><span style="position: absolute; display: inline-block; left: 0px; top: 122.045px; width: 556.822px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">date of gr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ant, 1 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>April, DKK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.799px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>20,372<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12,732<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>20,372</span><span style="position: absolute; display: inline-block; left: 0px; top: 136.936px; width: 227.391px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Share price, five da<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ys volume <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>weighted aver<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>age </span><span style="position: absolute; display: inline-block; left: 186.031px; top: 148.805px; width: 3.76172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff4; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 0px; top: 148.936px; width: 186.475px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">after<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> publication of <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>Annual Report, DKK</span><span style="position: absolute; display: inline-block; left: 368px; top: 148.92px; width: 188.396px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">22,814<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>11,992<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.8926px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>22,814</span><span style="position: absolute; display: inline-block; left: 0px; top: 163.811px; width: 557.039px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Exercise price, DKK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.018px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25,096<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.4824px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>13,191<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 41.3085px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25,096</span><span style="position: absolute; display: inline-block; left: 0px; top: 178.701px; width: 557.332px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Expected v<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>olatility (based on historic <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>volatility)<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.928px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>33%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.9511px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>35%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 55.9511px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>33%</span><span style="position: absolute; display: inline-block; left: 0px; top: 193.592px; width: 556.91px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Expected term (years)<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 294.838px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">5<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 54.1875px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5.75<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 53.502px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5.75</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 208.482px; width: 556.869px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Expected dividend per<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> share, DKK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 222.627px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5.0%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.2892px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5.0%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 52.6699px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>5.0%</span><span style="position: absolute; display: inline-block; left: 0px; top: 223.373px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Risk<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>-free int<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erest r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ate<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 270.692px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>0.31%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2.65%<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 46.0605px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>0.35%</span><span style="position: absolute; display: inline-block; left: 0px; top: 238.264px; width: 559.594px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">Fair<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> value per<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> option at gr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>ant<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/> date, DKK<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 118.875px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0.4725px; letter-spacing: -0.4725px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">N<span style="word-spacing: 0.4725px; letter-spacing: -0.4725px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>/A<span style="word-spacing: 0.4725px; letter-spacing: -0.4725px; display: inline-block; margin-left: 0px; width: 45.3866px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span></span> 2,859 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 3,067 <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 42.9435px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span> 3,082 </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>In 2023,<span class="_ _2"/> the ex<span class="_ _2"/>ercise price w<span class="_ _2"/>as determined based on the five-da<span class="_ _2"/>y volume-<span class="_ _2"/>weighted aver<span class="_ _2"/>age shar<span class="_ _2"/>e price after<span class="_ _2"/> the <span class="_ _2"/>Annual General Meeting.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The fair<span class="_ _2"/> v<span class="_ _2"/>alue of the options gr<span class="_ _2"/>anted is based on <span class="_ _2"/>the Black<span class="_ _2"/>-<span class="_ _2"/>Scholes option pricing model using the assumptions <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the table above.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_"> </span>ACCOUNTING POLICY<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Equity<span class="_ _2"/>-settled performance shares<span class="_ _2"/>, r<span class="_ _2"/>estricted shares </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and share options gr<span class="_ _2"/>anted <span class="_ _2"/>to members of the Ex<span class="_ _2"/>ecutive </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Board and <span class="_ _2"/>to employees of <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk as part of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s long-term<span class="_ _2"/> incentive pro<span class="_ _2"/>gramme ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised as remuner<span class="_ _2"/>ation expenses over<span class="_ _0"/> the vesting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">period as per <span class="_ _2"/>the estimated fair<span class="_ _2"/> <span class="_ _2"/>value at<span class="_ _2"/> the gr<span class="_ _2"/>ant dat<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and resul<span class="_ _2"/>t in a corr<span class="_ _2"/>esponding adjustment <span class="_ _2"/>to equity<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">At<span class="_ _2"/> the end of each r<span class="_ _2"/>eporting period, <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">revises its estima<span class="_ _2"/>ted number<span class="_ _2"/> of awar<span class="_ _2"/>ds that<span class="_ _2"/> are expect<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to v<span class="_ _2"/>est based on <span class="_ _2"/>the non-market<span class="_ _2"/> vesting conditions and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">service conditions.<span class="_ _2"/> An<span class="_ _2"/>y impact o<span class="_ _2"/>f the re<span class="_ _2"/>vision is reco<span class="_ _2"/>gnised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the income sta<span class="_ _2"/>tement <span class="_ _2"/>with a corresponding adjustment<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to equity<span class="_ _0"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Equity<span class="_ _2"/>-settled performance shares<span class="_ _2"/>, r<span class="_ _2"/>estricted shares </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and share options gr<span class="_ _2"/>anted <span class="_ _2"/>to members of the Ex<span class="_ _2"/>ecutive </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Board and <span class="_ _2"/>to employees of <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk as part of </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk’<span class="_ _2"/>s long-term<span class="_ _2"/> incentive pro<span class="_ _2"/>gramme ar<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">reco<span class="_ _2"/>gnised as remuner<span class="_ _2"/>ation expenses over<span class="_ _0"/> the vesting </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">period as per <span class="_ _2"/>the estimated fair<span class="_ _2"/> <span class="_ _2"/>value at<span class="_ _2"/> the gr<span class="_ _2"/>ant dat<span class="_ _2"/>e </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and resul<span class="_ _2"/>t in a corr<span class="_ _2"/>esponding adjustment <span class="_ _2"/>to equity<span class="_ _0"/>. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">At<span class="_ _2"/> the end of each r<span class="_ _2"/>eporting period, <span class="_ _2"/>A.P<span class="_ _4"/>. Moller<span class="_ _2"/> - Maersk </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">revises its estima<span class="_ _2"/>ted number<span class="_ _2"/> of awar<span class="_ _2"/>ds that<span class="_ _2"/> are expect<span class="_ _2"/>ed </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to v<span class="_ _2"/>est based on <span class="_ _2"/>the non-market<span class="_ _2"/> vesting conditions and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">service conditions.<span class="_ _2"/> An<span class="_ _2"/>y impact o<span class="_ _2"/>f the re<span class="_ _2"/>vision is reco<span class="_ _2"/>gnised </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">in the income sta<span class="_ _2"/>tement <span class="_ _2"/>with a corresponding adjustment<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to equity<span class="_ _0"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 5.3 <span class="_"> </span>Commitmen<span class="_ _2"/>ts</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:173.203125px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 250.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">The future charter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> and operating lease payments ar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e:</span><span style="position: absolute; display: inline-block; left: 221.781px; top: 24.6855px; width: 107.982px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.0508px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Logistics <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 358.734px; top: 24.6855px; width: 124.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminals <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.4607px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owage <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 534px; top: 24.6855px; width: 23.5195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 278.219px; top: 36.6855px; width: 48.8379px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">&amp; Services</span><span style="position: absolute; display: inline-block; left: 427.766px; top: 36.6855px; width: 55.6406px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">&amp; Maritime </span><span style="position: absolute; display: inline-block; left: 0px; top: 48.6855px; width: 95.3555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease commitments</span><span style="position: absolute; display: inline-block; left: 442.047px; top: 48.6855px; width: 38.5371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Services</span><span style="position: absolute; display: inline-block; left: 0px; top: 73.373px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023</span><span style="position: absolute; display: inline-block; left: 0px; top: 88.248px; width: 557.033px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Within one year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 158.039px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">129<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>164</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 103.139px; width: 556.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.836px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>129<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>164</span><span style="position: absolute; display: inline-block; left: 0px; top: 132.936px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 147.826px; width: 556.717px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Within one year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 164.725px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">53<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>41<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>108</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 162.717px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.264px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>53<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>41<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>108</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:226.3125px;"><span style="position: absolute; display: inline-block; left: 221.781px; top: 0.0136718px; width: 107.982px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.0508px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Logistics <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 358.734px; top: 0.0136718px; width: 124.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminals <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.4607px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owage <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 534px; top: 0.0136718px; width: 23.5195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 278.219px; top: 12.0293px; width: 48.8379px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">&amp; Services</span><span style="position: absolute; display: inline-block; left: 427.766px; top: 12.0293px; width: 55.6406px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">&amp; Maritime </span><span style="position: absolute; display: inline-block; left: 0px; top: 24.0293px; width: 101.256px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Capital commitments</span><span style="position: absolute; display: inline-block; left: 442.047px; top: 24.0293px; width: 38.5371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Services</span><span style="position: absolute; display: inline-block; left: 0px; top: 48.7012px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023</span><span style="position: absolute; display: inline-block; left: 0px; top: 63.5918px; width: 157.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Capital commitments r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>elating to </span><span style="position: absolute; display: inline-block; left: 0px; top: 75.5918px; width: 556.641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">acquisition of non-curren<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>t assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,302<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>98<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>363<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>50<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,813</span><span style="position: absolute; display: inline-block; left: 0px; top: 90.4824px; width: 163.594px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Commitments towar<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ds concession </span><span style="position: absolute; display: inline-block; left: 0px; top: 102.482px; width: 557.021px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">gran<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tors<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.338px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,053<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,053</span><span style="position: absolute; display: inline-block; left: 0px; top: 117.373px; width: 556.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal capital commitments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 91.4707px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,302<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>98<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,416<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>50<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,866</span><span style="position: absolute; display: inline-block; left: 0px; top: 147.154px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 162.045px; width: 157.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Capital commitments r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>elating to </span><span style="position: absolute; display: inline-block; left: 0px; top: 174.045px; width: 556.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">acquisition of non-curren<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>t assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,036<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>140<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>414<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>505<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,095</span><span style="position: absolute; display: inline-block; left: 0px; top: 188.936px; width: 163.594px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Commitments towar<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ds concession </span><span style="position: absolute; display: inline-block; left: 0px; top: 200.936px; width: 556.869px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">gran<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tors<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.338px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>930<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>930</span><span style="position: absolute; display: inline-block; left: 0px; top: 215.826px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal capital commitments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 91.4707px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,036<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>140<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,344<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>505<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,025</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Short<span class="_ _2"/>-<span class="_ _2"/>term and low-<span class="_ _2"/>value leases</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">As part of <span class="_ _2"/>the Group’<span class="_ _2"/>s activities,<span class="_ _2"/> customary<span class="_ _2"/> agreements ar<span class="_ _2"/>e entered in<span class="_ _2"/>to re<span class="_ _2"/>garding charter<span class="_ _0"/> and operating leases <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of vessels, containers,<span class="_ _2"/> port<span class="_ _2"/> facilities etc.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Capital commitments of USD 4<span class="_ _2"/>.9bn<span class="_ _2"/> (USD 5.<span class="_ _2"/>0bn) relate <span class="_ _2"/>to investmen<span class="_ _2"/>ts,<span class="_ _2"/> mainly <span class="_ _2"/>within Ocean and <span class="_ _2"/>T<span class="_ _0"/>erminals. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Commitments relat<span class="_ _2"/>ed to <span class="_ _2"/>the newbuilding pro<span class="_ _2"/>gramme ar<span class="_ _2"/>e USD 2.8bn (USD 2.<span class="_ _0"/>7bn) for container<span class="_ _0"/> vessels,<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD 95m (USD 89m) f<span class="_ _2"/>or<span class="_ _2"/> air<span class="_ _2"/>cr<span class="_ _2"/>aft<span class="_ _2"/> an<span class="_ _2"/>d USD 43m (USD<span class="_ _2"/> 110m) for<span class="_ _2"/> tugboats.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:91.84375px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 227.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Newbuilding pro<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gramme at<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> 2023, </span><span style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 556.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">number<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> of assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 195.041px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2024<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.5998px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2025<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2026<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2027<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 0px; top: 36.6855px; width: 556.664px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Container<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> vessels<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.424px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>24</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 51.5762px; width: 556.77px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Aircr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>aft<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 259.67px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2</span><span style="position: absolute; display: inline-block; left: 0px; top: 66.4668px; width: 557.027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ugboats and other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> v<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>essels<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 161.467px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10</span><span style="position: absolute; display: inline-block; left: 0px; top: 81.3574px; width: 556.629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 264.117px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>20<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>36</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:91.84375px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 235.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Capital commitments r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>elating to <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>the newbuilding </span><span style="position: absolute; display: inline-block; left: 0px; top: 12.0293px; width: 557.168px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">progr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>amme at<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.319px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2024<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2025<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2026<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2027<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 0px; top: 36.7012px; width: 556.758px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Container<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> vessels<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 201.176px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">960<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,827<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,787</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 51.5918px; width: 556.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Aircr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>aft<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 253.16px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>95<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>95</span><span style="position: absolute; display: inline-block; left: 0px; top: 66.4824px; width: 557.027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ugboats and other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> v<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>essels<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 161.467px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>43<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>43</span><span style="position: absolute; display: inline-block; left: 0px; top: 81.3574px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 248.203px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,098<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,827<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,925</span></span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 5.3 <span class="_"> </span>Commitmen<span class="_ _2"/>ts</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:173.203125px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 250.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">The future charter<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> and operating lease payments ar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>e:</span><span style="position: absolute; display: inline-block; left: 221.781px; top: 24.6855px; width: 107.982px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.0508px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Logistics <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 358.734px; top: 24.6855px; width: 124.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminals <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.4607px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owage <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 534px; top: 24.6855px; width: 23.5195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 278.219px; top: 36.6855px; width: 48.8379px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">&amp; Services</span><span style="position: absolute; display: inline-block; left: 427.766px; top: 36.6855px; width: 55.6406px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">&amp; Maritime </span><span style="position: absolute; display: inline-block; left: 0px; top: 48.6855px; width: 95.3555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Lease commitments</span><span style="position: absolute; display: inline-block; left: 442.047px; top: 48.6855px; width: 38.5371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Services</span><span style="position: absolute; display: inline-block; left: 0px; top: 73.373px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023</span><span style="position: absolute; display: inline-block; left: 0px; top: 88.248px; width: 557.033px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Within one year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 158.039px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">129<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>164</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 103.139px; width: 556.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.836px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>129<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>25<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>164</span><span style="position: absolute; display: inline-block; left: 0px; top: 132.936px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 147.826px; width: 556.717px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Within one year<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 164.725px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">53<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.0877px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>41<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>108</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 162.717px; width: 556.916px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.264px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>53<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>41<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>12<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 69.9491px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>108</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:226.3125px;"><span style="position: absolute; display: inline-block; left: 221.781px; top: 0.0136718px; width: 107.982px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Ocean<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 35.0508px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Logistics <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.205px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 358.734px; top: 0.0136718px; width: 124.5px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>erminals <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 38.4607px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>owage <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> </span><span style="position: absolute; display: inline-block; left: 534px; top: 0.0136718px; width: 23.5195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 278.219px; top: 12.0293px; width: 48.8379px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">&amp; Services</span><span style="position: absolute; display: inline-block; left: 427.766px; top: 12.0293px; width: 55.6406px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">&amp; Maritime </span><span style="position: absolute; display: inline-block; left: 0px; top: 24.0293px; width: 101.256px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Capital commitments</span><span style="position: absolute; display: inline-block; left: 442.047px; top: 24.0293px; width: 38.5371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Services</span><span style="position: absolute; display: inline-block; left: 0px; top: 48.7012px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2023</span><span style="position: absolute; display: inline-block; left: 0px; top: 63.5918px; width: 157.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Capital commitments r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>elating to </span><span style="position: absolute; display: inline-block; left: 0px; top: 75.5918px; width: 556.641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">acquisition of non-curren<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>t assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,302<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>98<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>363<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>50<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,813</span><span style="position: absolute; display: inline-block; left: 0px; top: 90.4824px; width: 163.594px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Commitments towar<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ds concession </span><span style="position: absolute; display: inline-block; left: 0px; top: 102.482px; width: 557.021px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">gran<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tors<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.338px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,053<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,053</span><span style="position: absolute; display: inline-block; left: 0px; top: 117.373px; width: 556.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal capital commitments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 91.4707px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,302<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.9844px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>98<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,416<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 63.5392px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>50<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>4,866</span><span style="position: absolute; display: inline-block; left: 0px; top: 147.154px; width: 25.793px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">2022</span><span style="position: absolute; display: inline-block; left: 0px; top: 162.045px; width: 157.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Capital commitments r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>elating to </span><span style="position: absolute; display: inline-block; left: 0px; top: 174.045px; width: 556.881px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">acquisition of non-curren<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>t assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 66.756px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>3,036<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>140<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>414<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>505<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>4,095</span><span style="position: absolute; display: inline-block; left: 0px; top: 188.936px; width: 163.594px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Commitments towar<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ds concession </span><span style="position: absolute; display: inline-block; left: 0px; top: 200.936px; width: 556.869px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">gran<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>tors<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.338px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>930<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 72.2051px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>930</span><span style="position: absolute; display: inline-block; left: 0px; top: 215.826px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal capital commitments<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 91.4707px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>3,036<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>140<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,344<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.4219px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>505<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 47.3438px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>5,025</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Short<span class="_ _2"/>-<span class="_ _2"/>term and low-<span class="_ _2"/>value leases</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">As part of <span class="_ _2"/>the Group’<span class="_ _2"/>s activities,<span class="_ _2"/> customary<span class="_ _2"/> agreements ar<span class="_ _2"/>e entered in<span class="_ _2"/>to re<span class="_ _2"/>garding charter<span class="_ _0"/> and operating leases <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">of vessels, containers,<span class="_ _2"/> port<span class="_ _2"/> facilities etc.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Capital commitments of USD 4<span class="_ _2"/>.9bn<span class="_ _2"/> (USD 5.<span class="_ _2"/>0bn) relate <span class="_ _2"/>to investmen<span class="_ _2"/>ts,<span class="_ _2"/> mainly <span class="_ _2"/>within Ocean and <span class="_ _2"/>T<span class="_ _0"/>erminals. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Commitments relat<span class="_ _2"/>ed to <span class="_ _2"/>the newbuilding pro<span class="_ _2"/>gramme ar<span class="_ _2"/>e USD 2.8bn (USD 2.<span class="_ _0"/>7bn) for container<span class="_ _0"/> vessels,<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">USD 95m (USD 89m) f<span class="_ _2"/>or<span class="_ _2"/> air<span class="_ _2"/>cr<span class="_ _2"/>aft<span class="_ _2"/> an<span class="_ _2"/>d USD 43m (USD<span class="_ _2"/> 110m) for<span class="_ _2"/> tugboats.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:91.84375px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 227.596px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Newbuilding pro<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>gramme at<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> 2023, </span><span style="position: absolute; display: inline-block; left: 0px; top: 12.0137px; width: 556.676px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">number<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> of assets<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 195.041px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2024<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.5998px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2025<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2026<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2027<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 0px; top: 36.6855px; width: 556.664px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Container<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> vessels<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.424px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">8<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.3554px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>24</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 51.5762px; width: 556.77px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Aircr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>aft<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 259.67px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 57.006px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2</span><span style="position: absolute; display: inline-block; left: 0px; top: 66.4668px; width: 557.027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ugboats and other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> v<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>essels<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 161.467px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>10</span><span style="position: absolute; display: inline-block; left: 0px; top: 81.3574px; width: 556.629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 264.117px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>20<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>16<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>36</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:91.84375px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 235.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Capital commitments r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>elating to <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>the newbuilding </span><span style="position: absolute; display: inline-block; left: 0px; top: 12.0293px; width: 557.168px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">progr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>amme at<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> 31 December<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> 2023<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.319px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2024<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2025<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2026<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 37.9748px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2027<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 40.0721px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>otal</span><span style="position: absolute; display: inline-block; left: 0px; top: 36.7012px; width: 556.758px; white-space: pre; word-spacing: -0.21px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Container<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> vessels<span style="word-spacing: -0.21px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 201.176px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span><span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">960<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>1,827<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>2,787</span></span><span style="position: absolute; display: inline-block; left: 0px; top: 51.5918px; width: 556.951px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Aircr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>aft<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 253.16px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>95<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>95</span><span style="position: absolute; display: inline-block; left: 0px; top: 66.4824px; width: 557.027px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ugboats and other<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/> v<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>essels<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 161.467px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>43<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 50.8065px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>43</span><span style="position: absolute; display: inline-block; left: 0px; top: 81.3574px; width: 556.904px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"/>otal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 248.203px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,098<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>1,827<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.1623px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 59.631px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>-<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 34.6172px; font-size: 10.5px; font-family: fff; -webkit-text-stroke-width: 0.1575px;"> </span>2,925</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 5.4 <span class="_ _64"> </span>Contingent liabilities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Contingent<span class="_ _2"/> liabilities consist of leg<span class="_ _2"/>al cases, <span class="_ _2"/>tax issues,<span class="_ _2"/> custom bonds,<span class="_ _2"/> <span class="_ _2"/>volume commitments and other<span class="_ _2"/> disputes.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Legal</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group is inv<span class="_ _2"/>olved in sev<span class="_ _2"/>eral le<span class="_ _2"/>gal cases and other<span class="_ _2"/> disputes.<span class="_ _2"/> Some of these inv<span class="_ _2"/>olve significant<span class="_ _2"/> amounts and are subject </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to consider<span class="_ _2"/>able uncertainty<span class="_ _2"/>.<span class="_ _2"/> Management<span class="_ _2"/> continuously as<span class="_ _2"/>sesses the risks associated <span class="_ _2"/>with the cases and disputes<span class="_ _2"/>, and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">their<span class="_ _2"/> likely<span class="_ _2"/> outcome.<span class="_ _2"/> It<span class="_ _2"/> is the opinion of Management<span class="_ _2"/> that,<span class="_ _2"/> apart<span class="_ _2"/> from items r<span class="_ _2"/>ecognised in <span class="_ _2"/>the financial statements<span class="_ _2"/>, <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">outcome of these cases and disput<span class="_ _2"/>es are not<span class="_ _2"/> probable or<span class="_ _2"/> cannot be r<span class="_ _2"/>eliably<span class="_ _2"/> estimated in <span class="_ _2"/>terms of amount or<span class="_ _0"/> timing. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The <span class="_ _1"/>Group does not<span class="_ _2"/> expect <span class="_ _2"/>these to hav<span class="_ _2"/>e a material impact<span class="_ _2"/> on the consolidat<span class="_ _2"/>ed financial statements.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ta<span class="_ _5"/>x</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group is subject<span class="_ _2"/> to a <span class="_ _2"/>tax audit in German<span class="_ _2"/>y concerning al<span class="_ _2"/>location of taxation<span class="_ _2"/> rights to shipping income between<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Denmark and Germany as well as <span class="_ _2"/>to a <span class="_ _2"/>tax investigation in<span class="_ _2"/> India concerning a deemed supply<span class="_ _2"/> of services between Indian </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">GST<span class="_ _2"/> re<span class="_ _2"/>gistrations of <span class="_ _2"/>A.P<span class="_ _4"/>. Moller - Maersk<span class="_ _1"/> in India.<span class="_ _2"/> The Gr<span class="_ _2"/>oup is also involv<span class="_ _2"/>ed in various other<span class="_ _0"/> tax disputes including indirect<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax disputes,<span class="_ _2"/> some of which inv<span class="_ _2"/>olve significant<span class="_ _2"/> amounts.<span class="_ _2"/> Management c<span class="_ _2"/>ontinuously asses<span class="_ _2"/>ses the risks associated <span class="_ _2"/>with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax disputes and their<span class="_ _0"/> likely out<span class="_ _2"/>come and considers the risk r<span class="_ _2"/>elated t<span class="_ _2"/>o these disputes r<span class="_ _2"/>emote and ther<span class="_ _2"/>efor<span class="_ _2"/>e does not </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">expect these <span class="_ _2"/>to have a ma<span class="_ _2"/>terial impact on <span class="_ _2"/>the consolidated financial stat<span class="_ _2"/>ements.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Throug<span class="_ _1"/>h pa<span class="_ _1"/>rtic<span class="_ _1"/>ipat<span class="_ _1"/>ion <span class="_ _1"/>in a <span class="_ _1"/>join<span class="_ _1"/>t taxatio<span class="_ _1"/>n sc<span class="_ _1"/>heme<span class="_ _1"/> wit<span class="_ _1"/>h A.P<span class="_ _4"/>. Møller<span class="_ _0"/> Holding A/S,<span class="_ _2"/> <span class="_ _2"/>the Danish companies are jointl<span class="_ _2"/>y and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sever<span class="_ _2"/>ally<span class="_ _2"/> liable for<span class="_ _2"/> tax<span class="_ _2"/>es payable,<span class="_ _2"/> etc.,<span class="_ _2"/> in Denmark.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Custom bonds of USD 830m<span class="_ _2"/> (USD 472m) hav<span class="_ _2"/>e been provided <span class="_ _2"/>to v<span class="_ _2"/>arious port authorities in India.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Maersk Line and <span class="_ _2"/>APM T<span class="_ _0"/>erminals have ent<span class="_ _2"/>ered into a<span class="_ _2"/> number<span class="_ _2"/> of agreements with<span class="_ _2"/> terminals and port<span class="_ _2"/> authorities etc.,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comp<span class="_ _1"/>risi<span class="_ _1"/>ng volume commitments including an extr<span class="_ _2"/>a payment<span class="_ _2"/> in case minimum <span class="_ _2"/>volumes are not<span class="_ _2"/> met. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Except f<span class="_ _2"/>or<span class="_ _2"/> customary agr<span class="_ _2"/>eements within <span class="_ _2"/>the Group’<span class="_ _2"/>s activities,<span class="_ _2"/> no material agr<span class="_ _2"/>eements have been en<span class="_ _2"/>tered int<span class="_ _2"/>o <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">that will <span class="_ _2"/>take eff<span class="_ _2"/>ect, change<span class="_ _2"/>, or<span class="_ _2"/> expir<span class="_ _2"/>e upon changes of <span class="_ _2"/>the control ov<span class="_ _2"/>er <span class="_ _2"/>the company<span class="_ _0"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Not<span class="_ _2"/>e 5.4 <span class="_ _64"> </span>Contingent liabilities </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Contingent<span class="_ _2"/> liabilities consist of leg<span class="_ _2"/>al cases, <span class="_ _2"/>tax issues,<span class="_ _2"/> custom bonds,<span class="_ _2"/> <span class="_ _2"/>volume commitments and other<span class="_ _2"/> disputes.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Legal</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group is inv<span class="_ _2"/>olved in sev<span class="_ _2"/>eral le<span class="_ _2"/>gal cases and other<span class="_ _2"/> disputes.<span class="_ _2"/> Some of these inv<span class="_ _2"/>olve significant<span class="_ _2"/> amounts and are subject </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">to consider<span class="_ _2"/>able uncertainty<span class="_ _2"/>.<span class="_ _2"/> Management<span class="_ _2"/> continuously as<span class="_ _2"/>sesses the risks associated <span class="_ _2"/>with the cases and disputes<span class="_ _2"/>, and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">their<span class="_ _2"/> likely<span class="_ _2"/> outcome.<span class="_ _2"/> It<span class="_ _2"/> is the opinion of Management<span class="_ _2"/> that,<span class="_ _2"/> apart<span class="_ _2"/> from items r<span class="_ _2"/>ecognised in <span class="_ _2"/>the financial statements<span class="_ _2"/>, <span class="_ _2"/>the </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">outcome of these cases and disput<span class="_ _2"/>es are not<span class="_ _2"/> probable or<span class="_ _2"/> cannot be r<span class="_ _2"/>eliably<span class="_ _2"/> estimated in <span class="_ _2"/>terms of amount or<span class="_ _0"/> timing. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The <span class="_ _1"/>Group does not<span class="_ _2"/> expect <span class="_ _2"/>these to hav<span class="_ _2"/>e a material impact<span class="_ _2"/> on the consolidat<span class="_ _2"/>ed financial statements.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Ta<span class="_ _5"/>x</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">The Group is subject<span class="_ _2"/> to a <span class="_ _2"/>tax audit in German<span class="_ _2"/>y concerning al<span class="_ _2"/>location of taxation<span class="_ _2"/> rights to shipping income between<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Denmark and Germany as well as <span class="_ _2"/>to a <span class="_ _2"/>tax investigation in<span class="_ _2"/> India concerning a deemed supply<span class="_ _2"/> of services between Indian </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">GST<span class="_ _2"/> re<span class="_ _2"/>gistrations of <span class="_ _2"/>A.P<span class="_ _4"/>. Moller - Maersk<span class="_ _1"/> in India.<span class="_ _2"/> The Gr<span class="_ _2"/>oup is also involv<span class="_ _2"/>ed in various other<span class="_ _0"/> tax disputes including indirect<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax disputes,<span class="_ _2"/> some of which inv<span class="_ _2"/>olve significant<span class="_ _2"/> amounts.<span class="_ _2"/> Management c<span class="_ _2"/>ontinuously asses<span class="_ _2"/>ses the risks associated <span class="_ _2"/>with </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">tax disputes and their<span class="_ _0"/> likely out<span class="_ _2"/>come and considers the risk r<span class="_ _2"/>elated t<span class="_ _2"/>o these disputes r<span class="_ _2"/>emote and ther<span class="_ _2"/>efor<span class="_ _2"/>e does not </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">expect these <span class="_ _2"/>to have a ma<span class="_ _2"/>terial impact on <span class="_ _2"/>the consolidated financial stat<span class="_ _2"/>ements.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Throug<span class="_ _1"/>h pa<span class="_ _1"/>rtic<span class="_ _1"/>ipat<span class="_ _1"/>ion <span class="_ _1"/>in a <span class="_ _1"/>join<span class="_ _1"/>t taxatio<span class="_ _1"/>n sc<span class="_ _1"/>heme<span class="_ _1"/> wit<span class="_ _1"/>h A.P<span class="_ _4"/>. Møller<span class="_ _0"/> Holding A/S,<span class="_ _2"/> <span class="_ _2"/>the Danish companies are jointl<span class="_ _2"/>y and </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">sever<span class="_ _2"/>ally<span class="_ _2"/> liable for<span class="_ _2"/> tax<span class="_ _2"/>es payable,<span class="_ _2"/> etc.,<span class="_ _2"/> in Denmark.<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Other</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Custom bonds of USD 830m<span class="_ _2"/> (USD 472m) hav<span class="_ _2"/>e been provided <span class="_ _2"/>to v<span class="_ _2"/>arious port authorities in India.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Maersk Line and <span class="_ _2"/>APM T<span class="_ _0"/>erminals have ent<span class="_ _2"/>ered into a<span class="_ _2"/> number<span class="_ _2"/> of agreements with<span class="_ _2"/> terminals and port<span class="_ _2"/> authorities etc.,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">comp<span class="_ _1"/>risi<span class="_ _1"/>ng volume commitments including an extr<span class="_ _2"/>a payment<span class="_ _2"/> in case minimum <span class="_ _2"/>volumes are not<span class="_ _2"/> met. </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;"> <span class="_ _22"> </span>Except f<span class="_ _2"/>or<span class="_ _2"/> customary agr<span class="_ _2"/>eements within <span class="_ _2"/>the Group’<span class="_ _2"/>s activities,<span class="_ _2"/> no material agr<span class="_ _2"/>eements have been en<span class="_ _2"/>tered int<span class="_ _2"/>o <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">that will <span class="_ _2"/>take eff<span class="_ _2"/>ect, change<span class="_ _2"/>, or<span class="_ _2"/> expir<span class="_ _2"/>e upon changes of <span class="_ _2"/>the control ov<span class="_ _2"/>er <span class="_ _2"/>the company<span class="_ _0"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Cash flow<span class="ff3"> from<span class="_ _2"/> operating activities includes al<span class="_ _2"/>l cash </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">transactions other<span class="_ _0"/> than cash flows arising from<span class="_ _2"/> investing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and financing activities such as investments and div<span class="_ _2"/>est<span class="ls0">-</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">ments,<span class="_ _2"/> received dividends<span class="_ _2"/>, principal pa<span class="_ _2"/>yments of loans,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">instalments on lease liabilities,<span class="_ _2"/> paid and receiv<span class="_ _2"/>ed financial </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">items and equity <span class="_ _2"/>transactions<span class="_ _2"/>. C<span class="_ _2"/>apitalisation of borro<span class="_ _2"/>wing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">costs is considered as a non-cash<span class="_ _2"/> item,<span class="_ _2"/> and the actual </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">payments of <span class="_ _2"/>these borrowing costs ar<span class="_ _2"/>e included in cash </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">flow from financing.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Cash and cash equiv<span class="_ _2"/>alents comprise cash and bank <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">balances net of bank ov<span class="_ _2"/>erdr<span class="_ _2"/>afts where o<span class="_ _2"/>verdr<span class="_ _2"/>aft<span class="_ _2"/> <span class="ls0"> </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">facilities form an<span class="_ _2"/> integr<span class="_ _2"/>al part of <span class="_ _2"/>A.P<span class="_ _3"/>.<span class="_ _2"/> Moller - Maersk’s </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">cash management.</span> A.P. Møller Holding A/S A.P. Møller og Hustru Chastine Mc-Kinney Møllers Fond til almene Formaal <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Subsidiaries</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:374.841796875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 565.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Company<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 325.98px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Country of incorpor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 18.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Owned share</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.9023px; width: 565.26px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">A.P<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. Moller<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Singapore Pt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 229.793px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Singapor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.645px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 42.6992px; width: 565.541px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Aliança Nave<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>gação e Logística L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>tda. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 201.176px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Brazil <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 141.756px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.4805px; width: 565.248px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>- Aarhus A/S <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 235.887px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 78.2617px; width: 565.617px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Algecir<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>as <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>S.A.<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 233.578px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Spain <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 96.0586px; width: 565.617px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Apapa <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Ltd.<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 245.414px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Nigeria <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.033px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>94%</span><span style="position: absolute; display: inline-block; left: 0px; top: 113.84px; width: 565.482px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>B.<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>V<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.756px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Netherlands <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.268px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 131.621px; width: 565.729px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Bar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>celona S.L.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>U.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 220.728px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Spain <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 149.418px; width: 565.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Cal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>lao S.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 246.381px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Peru <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.266px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>64%</span><span style="position: absolute; display: inline-block; left: 0px; top: 167.199px; width: 565.371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals China Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 232.096px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Hong Kong <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.18px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 184.996px; width: 565.576px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Elizabeth,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> LLC<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 229.793px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United States <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.777px; width: 565.846px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Espagna Holding SL<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 202.453px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Spain <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 220.559px; width: 565.6px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Gothenburg AB <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 223.558px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Sweden<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.9px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 238.355px; width: 565.43px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Lazar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>o Cardenas S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> de C.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 167.408px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Mexico <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 134.297px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 256.137px; width: 565.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Maasvlak<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>te II B.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 215.32px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Netherlands <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 109.84px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 273.918px; width: 565.219px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Management<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.L. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.424px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Spain <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 141.756px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 291.715px; width: 565.23px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Management<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> B.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.424px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Netherlands <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 109.84px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 309.496px; width: 565.553px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>MedPort T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>angier<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> S.A. <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 198.287px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Morocco <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.455px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>80%</span><span style="position: absolute; display: inline-block; left: 0px; top: 327.293px; width: 565.787px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Mobile,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> LLC<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 241.389px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United States <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 345.074px; width: 565.213px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Moin S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 252.234px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Costa Rica <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 118.875px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 362.855px; width: 565.424px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals North <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>America Inc.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 207.832px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United States <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>In accordance <span class="_ _2"/>with section 264b HGB (German commer<span class="_ _2"/>cial code), Hambur<span class="_ _2"/>g Süd A/S &amp; Co K<span class="_ _2"/>G, Hambur<span class="_ _2"/>g is exempt fr<span class="_ _2"/>om preparing,<span class="_ _2"/> auditing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and disclosing statutory financial sta<span class="_ _2"/>tements and a management<span class="_ _2"/> review<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span><span class="ws0">In accordance with<span class="_ _2"/> section 264b HGB (German commercial code),<span class="_ _2"/> Hamburg Südamerik<span class="_ _2"/>anische Dampfschifffahrts-Gesellschaft<span class="_ _2"/> A/S and Co K<span class="_ _2"/>G, </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Hamburg is exempt<span class="_ _2"/> from pr<span class="_ _2"/>eparing, auditing and disclosing statut<span class="_ _2"/>ory financial statements and a manag<span class="_ _2"/>ement r<span class="_ _2"/>eview.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>In accordance with section 264b HGB (German commer<span class="_ _2"/>cial code), Maersk Deutschland <span class="_ _2"/>A/S &amp; Co.<span class="_ _2"/> KG,<span class="_ _2"/> Hamburg is ex<span class="_ _2"/>empt from pr<span class="_ _2"/>eparing, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">auditing and disclosing statutory financial sta<span class="_ _2"/>tements and a management<span class="_ _2"/> review<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Subsidiaries</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:677.310546875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 565.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Company<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 325.98px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Country of incorpor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 18.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Owned share</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.9023px; width: 565.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Pacific LL<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>C <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.799px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United Sta<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>tes <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.938px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>90%</span><span style="position: absolute; display: inline-block; left: 0px; top: 42.6992px; width: 565.576px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals V<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>alencia S.A. <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 236.994px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Spain <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 148.412px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>75%</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.4805px; width: 565.195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Aqaba Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Company Ltd <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 182.338px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Jordan <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.033px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>50%</span><span style="position: absolute; display: inline-block; left: 0px; top: 78.2617px; width: 565.195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco China Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 286.067px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 141.756px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 96.0586px; width: 565.248px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco Denmark A/S <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 270.692px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 113.84px; width: 565.26px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco Distribution Canada Inc.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 221.185px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Canada <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.213px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 131.621px; width: 565.629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco Germany GmbH <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 258.023px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Germany <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 149.418px; width: 565.184px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco India Pvt.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 268.852px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>India <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 144.949px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 167.199px; width: 565.559px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco Logistics Mexico S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> de C.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 204.533px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Mexico <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 134.742px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 184.996px; width: 565.576px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco Netherlands B.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 256.131px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Netherlands <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.268px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.777px; width: 565.541px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco Poland Sp.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> z o.o.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 256.893px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Poland <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 135.147px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 220.559px; width: 565.682px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco Spain S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.L. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 288.018px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Spain <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 238.355px; width: 565.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Frey<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> P/S <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 327.867px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 256.137px; width: 565.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Gatewa<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>y <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals India Pvt. L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>td. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.264px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>India <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.266px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>7<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>4%</span><span style="position: absolute; display: inline-block; left: 0px; top: 273.918px; width: 565.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Grindrod Logistics (PTY) L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.7325px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>TD <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 236.525px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>South <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Africa <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 117.082px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>51%</span><span style="position: absolute; display: inline-block; left: 0px; top: 291.715px; width: 565.406px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Gujara<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>t Pipav<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>av Port<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 252.234px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>India <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.478px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>44%</span><span style="position: absolute; display: inline-block; left: 124.172px; top: 309.787px; width: 2.40234px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff3; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 123.779px; top: 309.496px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 0px; top: 309.496px; width: 123.779px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Hamburg Süd <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>A/S &amp; Co KG</span><span style="position: absolute; display: inline-block; left: 126.406px; top: 309.543px; width: 439.271px; white-space: pre; word-spacing: 125.958px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> <span style="word-spacing: 125.958px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.319px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Germany<span style="word-spacing: 125.958px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> 100%</span><span style="position: absolute; display: inline-block; left: 342.75px; top: 327.584px; width: 3.44531px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff3; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 342.932px; top: 327.34px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 0px; top: 327.34px; width: 342.932px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Hamburg Südamerikanische Dampfschifff<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ahrts-Gesellschaft <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>A/S &amp; Co K<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>G</span><span style="position: absolute; display: inline-block; left: 346.75px; top: 327.34px; width: 218.701px; white-space: pre; word-spacing: 20.601px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> Germany <span style="word-spacing: 20.601px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.988px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 345.121px; width: 565.717px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk A/S <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 314.127px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 362.902px; width: 565.354px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Ag<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ency U.S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Inc. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 249.522px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United Stat<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>es <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 380.699px; width: 565.518px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Air<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Cargo A/S <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 269.332px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 398.48px; width: 565.207px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk A<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>viation Holding A/S <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 234.381px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 416.277px; width: 565.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Industry <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>A/S <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 224.203px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 434.059px; width: 565.652px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Industry Qingdao L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>td. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 181.723px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 451.84px; width: 565.611px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Contr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>act Logistics Co.,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.836px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 469.637px; width: 565.406px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Contr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>act Logistics Limited <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 208.348px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Hong Kong <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.18px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 487.418px; width: 565.611px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Contr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>act Logistics Co.,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.836px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 505.199px; width: 565.172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Contr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>act Logistics Holdings Limited <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.928px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Bermuda <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.103px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 522.996px; width: 565.312px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Contr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>act Logistics Management<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Limited <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 143.625px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Hong Kong <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.18px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 540.777px; width: 565.482px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Denizcilik A.S.<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 267.492px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>urkey<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.42px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 157.047px; top: 558.85px; width: 3.46289px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff3; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 157.348px; top: 558.574px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 0px; top: 558.574px; width: 157.348px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Deutschland A/S &amp; Co<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. K<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>G</span><span style="position: absolute; display: inline-block; left: 160.516px; top: 558.605px; width: 404.496px; white-space: pre; word-spacing: 125.958px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> <span style="word-spacing: 125.958px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.0685px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Germany 100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 576.387px; width: 565.611px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Eastern Eur<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ope ApS <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 237.551px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 594.184px; width: 565.271px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Global Service Centres Pvt.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 184.804px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>India <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 144.949px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 611.965px; width: 565.57px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Holding B.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 275.59px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Netherlands <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.268px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 629.746px; width: 565.43px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Insurance A/S <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 265.846px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 647.543px; width: 565.371px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Line Agency Holding A/S <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.58px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 665.324px; width: 565.699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Line,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Limited <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 270.692px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United States <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Subsidiaries</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:552.779296875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 565.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Company<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 325.98px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Country of incorpor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 18.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Owned share</span><span style="position: absolute; display: inline-block; left: 203.156px; top: 25.1465px; width: 3.68555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff3; -webkit-text-stroke-width: 0.0918225px;">4</span><span style="position: absolute; display: inline-block; left: 203.742px; top: 24.9023px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 0px; top: 24.9023px; width: 203.742px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Line Crewing Hambur<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>g ApS &amp; Co K<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>G</span><span style="position: absolute; display: inline-block; left: 207.5px; top: 24.9023px; width: 357.832px; white-space: pre; word-spacing: 125.958px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> <span style="word-spacing: 125.958px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Germany 100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 42.6992px; width: 565.377px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics &amp; Services <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Australia<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Pty Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 158.039px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Austr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>alia <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.4805px; width: 565.412px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics &amp; Services Chile S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.p.A<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 187.319px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Chile <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 144.949px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 78.2617px; width: 565.271px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics &amp; Services International <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>A/S <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 154.916px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.103px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 96.0586px; width: 565.529px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics &amp; Services Japan<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> K.K. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 187.775px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Japan <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.484px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 113.84px; width: 565.312px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics &amp; Services Peru S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 194.221px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Peru <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.185px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 131.621px; width: 565.512px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics &amp; Services USA<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Inc <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>tates <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 149.418px; width: 565.371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics &amp; Services <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Vietnam Company Limit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ed <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 112.166px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Vietnam <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.947px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 167.199px; width: 565.342px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics and Services UK L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>TD <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 192.943px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United King<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>dom <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 92.5252px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 184.996px; width: 565.506px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics W<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>arehousing China Company L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>td.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.455px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Hong K<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ong <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.566px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.777px; width: 565.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Oil T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>rading and Inv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>estments A/S <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 180.469px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 220.559px; width: 565.629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Oil T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>rading Inc.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 262.195px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United States <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 238.355px; width: 565.57px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Oil T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>rading Panama S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 220.728px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Panama <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 256.137px; width: 565.564px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Oil T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>rading Singapor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e Pte.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.852px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Singapor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 121.02px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 273.918px; width: 565.869px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Oil T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>rading Spain,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.L <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 234.381px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Spain <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 291.715px; width: 565.359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Shipping Hong Kong L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>td. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 215.32px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Hong Kong <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.18px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 309.496px; width: 565.588px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk W<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ehousing &amp; Distribution Services USA LL<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>C <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 118.875px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United States <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 327.277px; width: 565.652px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">New Times In<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ternational <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ansport Service Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.9px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 345.074px; width: 565.646px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Pilot <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Air<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Freight,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> LLC<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 273.363px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Unit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ed States <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 362.855px; width: 565.359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Sealand Maersk Asia<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Pte.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 230.596px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Singapore <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.645px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 380.652px; width: 565.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Senator<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> International Fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>eight Forw<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>arding LL<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>C Florida <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.645px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United States <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 179.828px; top: 398.74px; width: 3.52148px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff3; -webkit-text-stroke-width: 0.0918225px;">5</span><span style="position: absolute; display: inline-block; left: 0px; top: 398.434px; width: 181.518px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Senator<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> International Spedition<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> GmbH </span><span style="position: absolute; display: inline-block; left: 182.406px; top: 398.496px; width: 382.529px; white-space: pre; word-spacing: 125.958px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> <span style="word-spacing: 125.958px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Germany<span style="word-spacing: 125.958px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> 100%</span><span style="position: absolute; display: inline-block; left: 141.812px; top: 416.537px; width: 3.60938px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff3; -webkit-text-stroke-width: 0.0918225px;">6</span><span style="position: absolute; display: inline-block; left: 0px; top: 416.277px; width: 143.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">St.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Petri Shipping ApS &amp; Co K<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>G </span><span style="position: absolute; display: inline-block; left: 145.125px; top: 416.293px; width: 420.709px; white-space: pre; word-spacing: 125.958px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> <span style="word-spacing: 125.958px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 96.2812px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Germany 100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 434.074px; width: 565.459px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Suez Canal Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal SAE <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 205.242px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Egypt <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.77px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>55%</span><span style="position: absolute; display: inline-block; left: 0px; top: 451.855px; width: 565.723px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Svitzer<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> A/S <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 317.367px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 469.652px; width: 565.312px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Svitzer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Austr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>alia Pty Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 255.334px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Australia <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 487.434px; width: 565.307px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Svitzer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Europe Holding B.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 242.977px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Netherlands <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 109.84px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 505.215px; width: 565.301px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Svitzer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Marine Ltd. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 280.389px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United Kingdom<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 92.5252px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 523.012px; width: 565.541px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal 4 S.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 298.195px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Argentina <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 121.816px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 540.793px; width: 565.436px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Visible Supply Chain<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Management LL<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>C <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.09px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United Sta<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>tes <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _9"> </span><span class="ws0">In accordance with<span class="_ _2"/> section 264b HGB (German commercial c<span class="_ _2"/>ode), Maersk Line Cre<span class="_ _2"/>wing Hamburg <span class="_ _2"/>ApS &amp; Co. K<span class="_ _2"/>G, Hambur<span class="_ _2"/>g is exempt fr<span class="_ _2"/>om </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pre <span class="_ _3"/>paring,<span class="_ _2"/> auditing and disclosing statutory financial stat<span class="_ _2"/>ements and a management<span class="_ _2"/> review<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">5 <span class="_ _9"> </span>In accordance with section 264 <span class="_ _2"/>Abs.3 HGB (German commer<span class="_ _2"/>cial code), Sena<span class="_ _2"/>tor In<span class="_ _2"/>ternational Spedition GmbH,<span class="_ _2"/> Hamburg is exempt<span class="_ _2"/> from </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pre <span class="_ _3"/>paring,<span class="_ _2"/> auditing and disclosing statutory financial stat<span class="_ _2"/>ements and a management<span class="_ _2"/> review<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">6 <span class="_ _9"> </span>In accordance with section<span class="_ _2"/> 264b HGB (German commercial code),<span class="_ _2"/> St.<span class="_ _2"/> Petri Shipping ApS &amp; Co K<span class="_ _2"/>G, Hambur<span class="_ _2"/>g is exempt fr<span class="_ _2"/>om preparing,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">auditing and disclosing statutory financial sta<span class="_ _2"/>tements and a management<span class="_ _2"/> review<span class="_ _2"/>.</span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Subsidiaries</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:374.841796875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 565.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Company<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 325.98px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Country of incorpor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 18.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Owned share</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.9023px; width: 565.26px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">A.P<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. Moller<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Singapore Pt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 229.793px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Singapor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.645px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 42.6992px; width: 565.541px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Aliança Nave<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>gação e Logística L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>tda. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 201.176px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Brazil <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 141.756px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.4805px; width: 565.248px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>- Aarhus A/S <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 235.887px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 78.2617px; width: 565.617px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Algecir<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>as <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>S.A.<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 233.578px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Spain <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 96.0586px; width: 565.617px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Apapa <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Ltd.<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 245.414px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Nigeria <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.033px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>94%</span><span style="position: absolute; display: inline-block; left: 0px; top: 113.84px; width: 565.482px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>B.<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>V<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.756px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Netherlands <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.268px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 131.621px; width: 565.729px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Bar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>celona S.L.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>U.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 220.728px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Spain <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 149.418px; width: 565.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Cal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>lao S.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 246.381px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Peru <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.266px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>64%</span><span style="position: absolute; display: inline-block; left: 0px; top: 167.199px; width: 565.371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals China Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 232.096px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Hong Kong <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.18px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 184.996px; width: 565.576px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Elizabeth,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> LLC<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 229.793px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United States <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.777px; width: 565.846px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Espagna Holding SL<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 202.453px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Spain <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 220.559px; width: 565.6px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Gothenburg AB <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 223.558px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Sweden<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.9px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 238.355px; width: 565.43px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Lazar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>o Cardenas S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> de C.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 167.408px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Mexico <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 134.297px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 256.137px; width: 565.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Maasvlak<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>te II B.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 215.32px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Netherlands <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 109.84px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 273.918px; width: 565.219px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Management<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.L. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.424px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Spain <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 141.756px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 291.715px; width: 565.23px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Management<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> B.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.424px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Netherlands <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 109.84px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 309.496px; width: 565.553px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>MedPort T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>angier<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> S.A. <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 198.287px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Morocco <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.455px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>80%</span><span style="position: absolute; display: inline-block; left: 0px; top: 327.293px; width: 565.787px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Mobile,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> LLC<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 241.389px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United States <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 345.074px; width: 565.213px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Moin S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 252.234px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Costa Rica <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 118.875px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 362.855px; width: 565.424px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals North <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>America Inc.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 207.832px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United States <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>In accordance <span class="_ _2"/>with section 264b HGB (German commer<span class="_ _2"/>cial code), Hambur<span class="_ _2"/>g Süd A/S &amp; Co K<span class="_ _2"/>G, Hambur<span class="_ _2"/>g is exempt fr<span class="_ _2"/>om preparing,<span class="_ _2"/> auditing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and disclosing statutory financial sta<span class="_ _2"/>tements and a management<span class="_ _2"/> review<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span><span class="ws0">In accordance with<span class="_ _2"/> section 264b HGB (German commercial code),<span class="_ _2"/> Hamburg Südamerik<span class="_ _2"/>anische Dampfschifffahrts-Gesellschaft<span class="_ _2"/> A/S and Co K<span class="_ _2"/>G, </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Hamburg is exempt<span class="_ _2"/> from pr<span class="_ _2"/>eparing, auditing and disclosing statut<span class="_ _2"/>ory financial statements and a manag<span class="_ _2"/>ement r<span class="_ _2"/>eview.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>In accordance with section 264b HGB (German commer<span class="_ _2"/>cial code), Maersk Deutschland <span class="_ _2"/>A/S &amp; Co.<span class="_ _2"/> KG,<span class="_ _2"/> Hamburg is ex<span class="_ _2"/>empt from pr<span class="_ _2"/>eparing, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">auditing and disclosing statutory financial sta<span class="_ _2"/>tements and a management<span class="_ _2"/> review<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Subsidiaries</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:677.310546875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 565.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Company<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 325.98px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Country of incorpor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 18.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Owned share</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.9023px; width: 565.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Pacific LL<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>C <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.799px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United Sta<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>tes <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.938px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>90%</span><span style="position: absolute; display: inline-block; left: 0px; top: 42.6992px; width: 565.576px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals V<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>alencia S.A. <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 236.994px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Spain <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 148.412px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>75%</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.4805px; width: 565.195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Aqaba Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Company Ltd <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 182.338px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Jordan <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.033px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>50%</span><span style="position: absolute; display: inline-block; left: 0px; top: 78.2617px; width: 565.195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco China Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 286.067px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 141.756px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 96.0586px; width: 565.248px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco Denmark A/S <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 270.692px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 113.84px; width: 565.26px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco Distribution Canada Inc.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 221.185px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Canada <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.213px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 131.621px; width: 565.629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco Germany GmbH <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 258.023px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Germany <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 149.418px; width: 565.184px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco India Pvt.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 268.852px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>India <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 144.949px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 167.199px; width: 565.559px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco Logistics Mexico S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> de C.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 204.533px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Mexico <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 134.742px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 184.996px; width: 565.576px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco Netherlands B.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 256.131px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Netherlands <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.268px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.777px; width: 565.541px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco Poland Sp.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> z o.o.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 256.893px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Poland <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 135.147px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 220.559px; width: 565.682px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco Spain S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.L. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 288.018px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Spain <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 238.355px; width: 565.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Frey<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> P/S <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 327.867px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 256.137px; width: 565.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Gatewa<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>y <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals India Pvt. L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>td. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.264px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>India <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.266px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>7<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>4%</span><span style="position: absolute; display: inline-block; left: 0px; top: 273.918px; width: 565.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Grindrod Logistics (PTY) L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.7325px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>TD <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 236.525px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>South <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Africa <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 117.082px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>51%</span><span style="position: absolute; display: inline-block; left: 0px; top: 291.715px; width: 565.406px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Gujara<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>t Pipav<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>av Port<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 252.234px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>India <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.478px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>44%</span><span style="position: absolute; display: inline-block; left: 124.172px; top: 309.787px; width: 2.40234px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff3; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 123.779px; top: 309.496px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 0px; top: 309.496px; width: 123.779px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Hamburg Süd <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>A/S &amp; Co KG</span><span style="position: absolute; display: inline-block; left: 126.406px; top: 309.543px; width: 439.271px; white-space: pre; word-spacing: 125.958px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> <span style="word-spacing: 125.958px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.319px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Germany<span style="word-spacing: 125.958px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> 100%</span><span style="position: absolute; display: inline-block; left: 342.75px; top: 327.584px; width: 3.44531px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff3; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 342.932px; top: 327.34px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 0px; top: 327.34px; width: 342.932px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Hamburg Südamerikanische Dampfschifff<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ahrts-Gesellschaft <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>A/S &amp; Co K<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>G</span><span style="position: absolute; display: inline-block; left: 346.75px; top: 327.34px; width: 218.701px; white-space: pre; word-spacing: 20.601px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> Germany <span style="word-spacing: 20.601px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.988px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 345.121px; width: 565.717px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk A/S <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 314.127px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 362.902px; width: 565.354px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Ag<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ency U.S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Inc. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 249.522px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United Stat<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>es <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 380.699px; width: 565.518px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Air<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Cargo A/S <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 269.332px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 398.48px; width: 565.207px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk A<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>viation Holding A/S <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 234.381px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 416.277px; width: 565.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Industry <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>A/S <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 224.203px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 434.059px; width: 565.652px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Industry Qingdao L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>td. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 181.723px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 451.84px; width: 565.611px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Contr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>act Logistics Co.,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.836px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 469.637px; width: 565.406px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Contr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>act Logistics Limited <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 208.348px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Hong Kong <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.18px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 487.418px; width: 565.611px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Contr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>act Logistics Co.,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.836px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 505.199px; width: 565.172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Contr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>act Logistics Holdings Limited <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.928px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Bermuda <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.103px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 522.996px; width: 565.312px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Contr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>act Logistics Management<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Limited <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 143.625px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Hong Kong <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.18px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 540.777px; width: 565.482px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Denizcilik A.S.<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 267.492px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>urkey<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.42px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 157.047px; top: 558.85px; width: 3.46289px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff3; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 157.348px; top: 558.574px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 0px; top: 558.574px; width: 157.348px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Deutschland A/S &amp; Co<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. K<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>G</span><span style="position: absolute; display: inline-block; left: 160.516px; top: 558.605px; width: 404.496px; white-space: pre; word-spacing: 125.958px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> <span style="word-spacing: 125.958px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.0685px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Germany 100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 576.387px; width: 565.611px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Eastern Eur<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ope ApS <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 237.551px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 594.184px; width: 565.271px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Global Service Centres Pvt.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 184.804px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>India <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 144.949px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 611.965px; width: 565.57px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Holding B.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 275.59px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Netherlands <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.268px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 629.746px; width: 565.43px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Insurance A/S <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 265.846px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 647.543px; width: 565.371px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Line Agency Holding A/S <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.58px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 665.324px; width: 565.699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Line,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Limited <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 270.692px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United States <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Subsidiaries</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:552.779296875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 565.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Company<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 325.98px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Country of incorpor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 18.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Owned share</span><span style="position: absolute; display: inline-block; left: 203.156px; top: 25.1465px; width: 3.68555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff3; -webkit-text-stroke-width: 0.0918225px;">4</span><span style="position: absolute; display: inline-block; left: 203.742px; top: 24.9023px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 0px; top: 24.9023px; width: 203.742px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Line Crewing Hambur<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>g ApS &amp; Co K<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>G</span><span style="position: absolute; display: inline-block; left: 207.5px; top: 24.9023px; width: 357.832px; white-space: pre; word-spacing: 125.958px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> <span style="word-spacing: 125.958px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Germany 100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 42.6992px; width: 565.377px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics &amp; Services <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Australia<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Pty Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 158.039px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Austr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>alia <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.4805px; width: 565.412px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics &amp; Services Chile S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.p.A<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 187.319px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Chile <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 144.949px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 78.2617px; width: 565.271px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics &amp; Services International <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>A/S <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 154.916px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.103px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 96.0586px; width: 565.529px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics &amp; Services Japan<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> K.K. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 187.775px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Japan <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.484px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 113.84px; width: 565.312px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics &amp; Services Peru S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 194.221px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Peru <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.185px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 131.621px; width: 565.512px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics &amp; Services USA<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Inc <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>tates <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 149.418px; width: 565.371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics &amp; Services <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Vietnam Company Limit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ed <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 112.166px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Vietnam <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.947px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 167.199px; width: 565.342px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics and Services UK L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>TD <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 192.943px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United King<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>dom <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 92.5252px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 184.996px; width: 565.506px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics W<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>arehousing China Company L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>td.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.455px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Hong K<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ong <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.566px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.777px; width: 565.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Oil T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>rading and Inv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>estments A/S <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 180.469px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 220.559px; width: 565.629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Oil T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>rading Inc.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 262.195px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United States <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 238.355px; width: 565.57px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Oil T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>rading Panama S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 220.728px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Panama <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 256.137px; width: 565.564px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Oil T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>rading Singapor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e Pte.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.852px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Singapor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 121.02px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 273.918px; width: 565.869px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Oil T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>rading Spain,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.L <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 234.381px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Spain <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 291.715px; width: 565.359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Shipping Hong Kong L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>td. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 215.32px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Hong Kong <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.18px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 309.496px; width: 565.588px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk W<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ehousing &amp; Distribution Services USA LL<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>C <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 118.875px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United States <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 327.277px; width: 565.652px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">New Times In<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ternational <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ansport Service Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.9px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 345.074px; width: 565.646px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Pilot <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Air<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Freight,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> LLC<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 273.363px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Unit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ed States <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 362.855px; width: 565.359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Sealand Maersk Asia<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Pte.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 230.596px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Singapore <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.645px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 380.652px; width: 565.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Senator<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> International Fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>eight Forw<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>arding LL<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>C Florida <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.645px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United States <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 179.828px; top: 398.74px; width: 3.52148px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff3; -webkit-text-stroke-width: 0.0918225px;">5</span><span style="position: absolute; display: inline-block; left: 0px; top: 398.434px; width: 181.518px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Senator<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> International Spedition<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> GmbH </span><span style="position: absolute; display: inline-block; left: 182.406px; top: 398.496px; width: 382.529px; white-space: pre; word-spacing: 125.958px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> <span style="word-spacing: 125.958px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Germany<span style="word-spacing: 125.958px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> 100%</span><span style="position: absolute; display: inline-block; left: 141.812px; top: 416.537px; width: 3.60938px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff3; -webkit-text-stroke-width: 0.0918225px;">6</span><span style="position: absolute; display: inline-block; left: 0px; top: 416.277px; width: 143.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">St.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Petri Shipping ApS &amp; Co K<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>G </span><span style="position: absolute; display: inline-block; left: 145.125px; top: 416.293px; width: 420.709px; white-space: pre; word-spacing: 125.958px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> <span style="word-spacing: 125.958px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 96.2812px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Germany 100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 434.074px; width: 565.459px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Suez Canal Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal SAE <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 205.242px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Egypt <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.77px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>55%</span><span style="position: absolute; display: inline-block; left: 0px; top: 451.855px; width: 565.723px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Svitzer<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> A/S <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 317.367px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 469.652px; width: 565.312px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Svitzer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Austr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>alia Pty Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 255.334px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Australia <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 487.434px; width: 565.307px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Svitzer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Europe Holding B.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 242.977px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Netherlands <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 109.84px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 505.215px; width: 565.301px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Svitzer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Marine Ltd. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 280.389px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United Kingdom<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 92.5252px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 523.012px; width: 565.541px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal 4 S.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 298.195px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Argentina <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 121.816px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 540.793px; width: 565.436px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Visible Supply Chain<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Management LL<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>C <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.09px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United Sta<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>tes <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _9"> </span><span class="ws0">In accordance with<span class="_ _2"/> section 264b HGB (German commercial c<span class="_ _2"/>ode), Maersk Line Cre<span class="_ _2"/>wing Hamburg <span class="_ _2"/>ApS &amp; Co. K<span class="_ _2"/>G, Hambur<span class="_ _2"/>g is exempt fr<span class="_ _2"/>om </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pre <span class="_ _3"/>paring,<span class="_ _2"/> auditing and disclosing statutory financial stat<span class="_ _2"/>ements and a management<span class="_ _2"/> review<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">5 <span class="_ _9"> </span>In accordance with section 264 <span class="_ _2"/>Abs.3 HGB (German commer<span class="_ _2"/>cial code), Sena<span class="_ _2"/>tor In<span class="_ _2"/>ternational Spedition GmbH,<span class="_ _2"/> Hamburg is exempt<span class="_ _2"/> from </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pre <span class="_ _3"/>paring,<span class="_ _2"/> auditing and disclosing statutory financial stat<span class="_ _2"/>ements and a management<span class="_ _2"/> review<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">6 <span class="_ _9"> </span>In accordance with section<span class="_ _2"/> 264b HGB (German commercial code),<span class="_ _2"/> St.<span class="_ _2"/> Petri Shipping ApS &amp; Co K<span class="_ _2"/>G, Hambur<span class="_ _2"/>g is exempt fr<span class="_ _2"/>om preparing,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">auditing and disclosing statutory financial sta<span class="_ _2"/>tements and a management<span class="_ _2"/> review<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Associated c<span class="_ _2"/>ompanies</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:250.341796875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 565.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Company<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 325.98px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Country of incorpor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 18.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Owned share</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.9023px; width: 565.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Abidjan <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal SA <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 274.488px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Côt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e d’Ivoire <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 114.258px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>49%</span><span style="position: absolute; display: inline-block; left: 0px; top: 42.6992px; width: 565.418px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Brigantine Services Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 257.326px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Hong Kong <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 121.02px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>30%</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.4805px; width: 565.271px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Conakry T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal S.A.<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 267.492px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Guinea <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 141.147px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>25%</span><span style="position: absolute; display: inline-block; left: 0px; top: 78.2617px; width: 565.336px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Congo T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>SA <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.756px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Congo <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.77px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>15%</span><span style="position: absolute; display: inline-block; left: 0px; top: 96.0586px; width: 565.477px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Guangzhou South China Oceangat<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 75.9315px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.619px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>20%</span><span style="position: absolute; display: inline-block; left: 0px; top: 113.84px; width: 565.26px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Itapoa <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminais Portuarios S.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 219.065px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Br<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>azil <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.185px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>30%</span><span style="position: absolute; display: inline-block; left: 0px; top: 131.621px; width: 565.277px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Kanoo T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Services <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Ltd. <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 233.578px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Saudi Ar<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>abia <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 114.732px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>50%</span><span style="position: absolute; display: inline-block; left: 0px; top: 149.418px; width: 565.664px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Meridian Port Servic<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>es Ltd <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.148px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Ghana <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 143.625px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>35%</span><span style="position: absolute; display: inline-block; left: 0px; top: 167.199px; width: 565.723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Pelabuhan <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>anjung Pelepas Sdn. Bhd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 193.565px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Malaysia <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.455px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>30%</span><span style="position: absolute; display: inline-block; left: 0px; top: 184.996px; width: 565.547px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Qingdao Qianwan<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> United Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.103px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 148.412px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>10%</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.777px; width: 565.359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Salalah Port<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Services Company SAOG <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 194.221px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Oman <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 144.949px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>30%</span><span style="position: absolute; display: inline-block; left: 0px; top: 220.559px; width: 565.189px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">South <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Asia Gatewa<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>y <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Pvt Ltd <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.852px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Sri Lanka <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>33%</span><span style="position: absolute; display: inline-block; left: 0px; top: 238.355px; width: 565.898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Tianjin Port <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Al<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>liance International Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Co. L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>td. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 82.5233px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.445px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>20%</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Joint vent<span class="_ _2"/>ures</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:303.685546875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 565.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Company<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 325.98px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Country of incorpor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 18.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Owned share</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.9023px; width: 565.512px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Blue Drag<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>on Logistics Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 229.793px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.619px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>50%</span><span style="position: absolute; display: inline-block; left: 0px; top: 42.6836px; width: 565.207px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Brasil <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Portuario S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 231.486px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Brazil <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.77px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>50%</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.4805px; width: 565.465px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Cai Mep International <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 186.522px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Vietnam <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.705px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>49%</span><span style="position: absolute; display: inline-block; left: 0px; top: 78.2617px; width: 565.57px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Caucedo Marine Service S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A. (DR Br<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>anch) <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 179.145px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Dominican Republic <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 79.6054px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>50%</span><span style="position: absolute; display: inline-block; left: 0px; top: 96.043px; width: 565.459px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Cote D’Ivoir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal SA<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 250.353px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Côte d’Ivoir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 114.258px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>49%</span><span style="position: absolute; display: inline-block; left: 0px; top: 113.84px; width: 565.301px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">LCB Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal 1 Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 232.096px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Thailand <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 132.451px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>35%</span><span style="position: absolute; display: inline-block; left: 0px; top: 131.621px; width: 565.611px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">LCMT<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Company<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 275.022px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Thailand <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.213px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>32%</span><span style="position: absolute; display: inline-block; left: 0px; top: 149.418px; width: 565.939px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Nakilat S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>vitzerwijsmuller<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Company W<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.L.L. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 176.297px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Qatar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.445px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>30%</span><span style="position: absolute; display: inline-block; left: 0px; top: 167.199px; width: 565.195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">North Sea <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Bremerhaven Gmbh<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> and Co KG <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.455px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Germany <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>50%</span><span style="position: absolute; display: inline-block; left: 0px; top: 184.98px; width: 565.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Qingdao New Qianw<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>an Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 135.147px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.478px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>19%</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.777px; width: 565.365px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Qingdao Qianwan<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 158.648px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.619px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>20%</span><span style="position: absolute; display: inline-block; left: 0px; top: 220.559px; width: 565.424px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Shanghai East Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Co. L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>td. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 173.643px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.619px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>49%</span><span style="position: absolute; display: inline-block; left: 0px; top: 238.34px; width: 565.436px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Smart Int<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ernational Logistics Company L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>td.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 165.234px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.619px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>49%</span><span style="position: absolute; display: inline-block; left: 0px; top: 256.137px; width: 565.324px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">South Florida Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal LLC <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 194.221px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>tates <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.938px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>49%</span><span style="position: absolute; display: inline-block; left: 0px; top: 273.918px; width: 565.611px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Svitzer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Caribbean Dominicana, S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A.S <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.736px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Dominican Republic <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.0685px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>50%</span><span style="position: absolute; display: inline-block; left: 0px; top: 291.699px; width: 565.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Xiamen Songyu Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 167.408px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.445px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>25%</span></span> <span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Subsidiaries</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:374.841796875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 565.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Company<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 325.98px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Country of incorpor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 18.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Owned share</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.9023px; width: 565.26px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">A.P<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -2.844px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. Moller<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Singapore Pt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 229.793px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Singapor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.645px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 42.6992px; width: 565.541px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Aliança Nave<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>gação e Logística L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>tda. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 201.176px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Brazil <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 141.756px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.4805px; width: 565.248px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>- Aarhus A/S <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 235.887px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 78.2617px; width: 565.617px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Algecir<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>as <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>S.A.<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 233.578px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Spain <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 96.0586px; width: 565.617px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Apapa <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Ltd.<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 245.414px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Nigeria <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.033px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>94%</span><span style="position: absolute; display: inline-block; left: 0px; top: 113.84px; width: 565.482px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>B.<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>V<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.756px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Netherlands <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.268px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 131.621px; width: 565.729px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Bar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>celona S.L.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>U.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 220.728px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Spain <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 149.418px; width: 565.688px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Cal<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>lao S.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 246.381px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Peru <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.266px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>64%</span><span style="position: absolute; display: inline-block; left: 0px; top: 167.199px; width: 565.371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals China Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 232.096px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Hong Kong <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.18px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 184.996px; width: 565.576px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Elizabeth,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> LLC<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 229.793px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United States <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.777px; width: 565.846px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Espagna Holding SL<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 202.453px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Spain <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 220.559px; width: 565.6px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Gothenburg AB <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 223.558px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Sweden<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.9px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 238.355px; width: 565.43px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Lazar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>o Cardenas S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> de C.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 167.408px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Mexico <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 134.297px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 256.137px; width: 565.553px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Maasvlak<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>te II B.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 215.32px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Netherlands <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 109.84px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 273.918px; width: 565.219px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Management<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.L. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.424px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Spain <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 141.756px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 291.715px; width: 565.23px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Management<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> B.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 214.424px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Netherlands <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 109.84px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 309.496px; width: 565.553px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>MedPort T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>angier<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> S.A. <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 198.287px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Morocco <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.455px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>80%</span><span style="position: absolute; display: inline-block; left: 0px; top: 327.293px; width: 565.787px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Mobile,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> LLC<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 241.389px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United States <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 345.074px; width: 565.213px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Moin S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 252.234px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Costa Rica <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 118.875px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 362.855px; width: 565.424px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals North <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>America Inc.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 207.832px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United States <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">1 <span class="_ _63"> </span>In accordance <span class="_ _2"/>with section 264b HGB (German commer<span class="_ _2"/>cial code), Hambur<span class="_ _2"/>g Süd A/S &amp; Co K<span class="_ _2"/>G, Hambur<span class="_ _2"/>g is exempt fr<span class="_ _2"/>om preparing,<span class="_ _2"/> auditing </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">and disclosing statutory financial sta<span class="_ _2"/>tements and a management<span class="_ _2"/> review<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">2 <span class="_ _64"> </span><span class="ws0">In accordance with<span class="_ _2"/> section 264b HGB (German commercial code),<span class="_ _2"/> Hamburg Südamerik<span class="_ _2"/>anische Dampfschifffahrts-Gesellschaft<span class="_ _2"/> A/S and Co K<span class="_ _2"/>G, </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Hamburg is exempt<span class="_ _2"/> from pr<span class="_ _2"/>eparing, auditing and disclosing statut<span class="_ _2"/>ory financial statements and a manag<span class="_ _2"/>ement r<span class="_ _2"/>eview.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">3 <span class="_ _9"> </span>In accordance with section 264b HGB (German commer<span class="_ _2"/>cial code), Maersk Deutschland <span class="_ _2"/>A/S &amp; Co.<span class="_ _2"/> KG,<span class="_ _2"/> Hamburg is ex<span class="_ _2"/>empt from pr<span class="_ _2"/>eparing, </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">auditing and disclosing statutory financial sta<span class="_ _2"/>tements and a management<span class="_ _2"/> review<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Subsidiaries</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:677.310546875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 565.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Company<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 325.98px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Country of incorpor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 18.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Owned share</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.9023px; width: 565.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Pacific LL<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>C <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.799px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United Sta<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>tes <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.938px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>90%</span><span style="position: absolute; display: inline-block; left: 0px; top: 42.6992px; width: 565.576px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">APM T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals V<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>alencia S.A. <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 236.994px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Spain <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 148.412px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>75%</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.4805px; width: 565.195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Aqaba Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Company Ltd <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 182.338px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Jordan <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.033px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>50%</span><span style="position: absolute; display: inline-block; left: 0px; top: 78.2617px; width: 565.195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco China Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 286.067px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 141.756px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 96.0586px; width: 565.248px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco Denmark A/S <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 270.692px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 113.84px; width: 565.26px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco Distribution Canada Inc.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 221.185px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Canada <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.213px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 131.621px; width: 565.629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco Germany GmbH <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 258.023px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Germany <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 149.418px; width: 565.184px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco India Pvt.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 268.852px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>India <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 144.949px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 167.199px; width: 565.559px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco Logistics Mexico S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> de C.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 204.533px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Mexico <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 134.742px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 184.996px; width: 565.576px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco Netherlands B.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 256.131px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Netherlands <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.268px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.777px; width: 565.541px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco Poland Sp.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> z o.o.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 256.893px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Poland <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 135.147px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 220.559px; width: 565.682px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Damco Spain S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.L. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 288.018px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Spain <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 238.355px; width: 565.828px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Frey<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> P/S <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 327.867px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 256.137px; width: 565.67px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Gatewa<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>y <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals India Pvt. L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>td. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 213.264px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>India <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 151.266px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>7<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>4%</span><span style="position: absolute; display: inline-block; left: 0px; top: 273.918px; width: 565.658px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Grindrod Logistics (PTY) L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.7325px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>TD <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 236.525px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>South <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Africa <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 117.082px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>51%</span><span style="position: absolute; display: inline-block; left: 0px; top: 291.715px; width: 565.406px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Gujara<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>t Pipav<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>av Port<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 252.234px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>India <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.478px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>44%</span><span style="position: absolute; display: inline-block; left: 124.172px; top: 309.787px; width: 2.40234px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff3; -webkit-text-stroke-width: 0.0918225px;">1</span><span style="position: absolute; display: inline-block; left: 123.779px; top: 309.496px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 0px; top: 309.496px; width: 123.779px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Hamburg Süd <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>A/S &amp; Co KG</span><span style="position: absolute; display: inline-block; left: 126.406px; top: 309.543px; width: 439.271px; white-space: pre; word-spacing: 125.958px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> <span style="word-spacing: 125.958px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 115.319px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Germany<span style="word-spacing: 125.958px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> 100%</span><span style="position: absolute; display: inline-block; left: 342.75px; top: 327.584px; width: 3.44531px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff3; -webkit-text-stroke-width: 0.0918225px;">2</span><span style="position: absolute; display: inline-block; left: 342.932px; top: 327.34px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 0px; top: 327.34px; width: 342.932px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Hamburg Südamerikanische Dampfschifff<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ahrts-Gesellschaft <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>A/S &amp; Co K<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>G</span><span style="position: absolute; display: inline-block; left: 346.75px; top: 327.34px; width: 218.701px; white-space: pre; word-spacing: 20.601px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> Germany <span style="word-spacing: 20.601px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.988px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 345.121px; width: 565.717px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk A/S <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 314.127px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 362.902px; width: 565.354px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Ag<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ency U.S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Inc. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 249.522px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United Stat<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>es <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 380.699px; width: 565.518px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Air<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Cargo A/S <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 269.332px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 398.48px; width: 565.207px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk A<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>viation Holding A/S <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 234.381px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 416.277px; width: 565.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Industry <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>A/S <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 224.203px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 434.059px; width: 565.652px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Industry Qingdao L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>td. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 181.723px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 451.84px; width: 565.611px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Contr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>act Logistics Co.,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.836px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 469.637px; width: 565.406px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Contr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>act Logistics Limited <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 208.348px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Hong Kong <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.18px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 487.418px; width: 565.611px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Contr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>act Logistics Co.,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 206.836px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 505.199px; width: 565.172px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Contr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>act Logistics Holdings Limited <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 163.928px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Bermuda <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.103px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 522.996px; width: 565.312px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Contr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>act Logistics Management<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Limited <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 143.625px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Hong Kong <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.18px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 540.777px; width: 565.482px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Denizcilik A.S.<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 267.492px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>urkey<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 137.42px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 157.047px; top: 558.85px; width: 3.46289px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff3; -webkit-text-stroke-width: 0.0918225px;">3</span><span style="position: absolute; display: inline-block; left: 157.348px; top: 558.574px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 0px; top: 558.574px; width: 157.348px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Deutschland A/S &amp; Co<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. K<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>G</span><span style="position: absolute; display: inline-block; left: 160.516px; top: 558.605px; width: 404.496px; white-space: pre; word-spacing: 125.958px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> <span style="word-spacing: 125.958px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.0685px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Germany 100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 576.387px; width: 565.611px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Eastern Eur<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ope ApS <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 237.551px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 594.184px; width: 565.271px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Global Service Centres Pvt.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 184.804px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>India <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 144.949px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 611.965px; width: 565.57px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Holding B.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 275.59px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Netherlands <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 110.268px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 629.746px; width: 565.43px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Insurance A/S <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 265.846px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 647.543px; width: 565.371px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Line Agency Holding A/S <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 216.58px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 665.324px; width: 565.699px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Line,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Limited <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 270.692px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United States <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Subsidiaries</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:552.779296875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 565.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Company<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 325.98px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Country of incorpor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 18.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Owned share</span><span style="position: absolute; display: inline-block; left: 203.156px; top: 25.1465px; width: 3.68555px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff3; -webkit-text-stroke-width: 0.0918225px;">4</span><span style="position: absolute; display: inline-block; left: 203.742px; top: 24.9023px; width: 2.56641px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span><span style="position: absolute; display: inline-block; left: 0px; top: 24.9023px; width: 203.742px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Line Crewing Hambur<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>g ApS &amp; Co K<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>G</span><span style="position: absolute; display: inline-block; left: 207.5px; top: 24.9023px; width: 357.832px; white-space: pre; word-spacing: 125.958px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> <span style="word-spacing: 125.958px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 33.4043px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Germany 100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 42.6992px; width: 565.377px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics &amp; Services <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Australia<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Pty Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 158.039px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Austr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>alia <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.4805px; width: 565.412px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics &amp; Services Chile S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.p.A<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 187.319px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Chile <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 144.949px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 78.2617px; width: 565.271px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics &amp; Services International <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>A/S <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 154.916px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.103px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 96.0586px; width: 565.529px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics &amp; Services Japan<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> K.K. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 187.775px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Japan <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 140.484px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 113.84px; width: 565.312px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics &amp; Services Peru S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 194.221px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Peru <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.185px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 131.621px; width: 565.512px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics &amp; Services USA<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Inc <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.291px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>tates <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 149.418px; width: 565.371px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics &amp; Services <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Vietnam Company Limit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ed <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 112.166px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Vietnam <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 128.947px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 167.199px; width: 565.342px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics and Services UK L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>TD <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 192.943px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United King<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>dom <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 92.5252px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 184.996px; width: 565.506px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Logistics W<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>arehousing China Company L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>td.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.455px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Hong K<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ong <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.566px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.777px; width: 565.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Oil T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>rading and Inv<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>estments A/S <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 180.469px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 220.559px; width: 565.629px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Oil T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>rading Inc.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 262.195px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United States <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 238.355px; width: 565.57px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Oil T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>rading Panama S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 220.728px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Panama <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 256.137px; width: 565.564px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Oil T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>rading Singapor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e Pte.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.852px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Singapor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 121.02px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 273.918px; width: 565.869px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Oil T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>rading Spain,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.L <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 234.381px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Spain <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 291.715px; width: 565.359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk Shipping Hong Kong L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>td. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 215.32px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Hong Kong <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 116.18px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 309.496px; width: 565.588px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Maersk W<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ehousing &amp; Distribution Services USA LL<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>C <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 118.875px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United States <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 327.277px; width: 565.652px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">New Times In<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ternational <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>r<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ansport Service Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.9px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 142.471px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 345.074px; width: 565.646px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Pilot <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Air<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Freight,<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> LLC<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 273.363px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Unit<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ed States <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 362.855px; width: 565.359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Sealand Maersk Asia<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Pte.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 230.596px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Singapore <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.645px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 380.652px; width: 565.693px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Senator<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> International Fr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>eight Forw<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>arding LL<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>C Florida <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 120.645px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United States <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 179.828px; top: 398.74px; width: 3.52148px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff3; -webkit-text-stroke-width: 0.0918225px;">5</span><span style="position: absolute; display: inline-block; left: 0px; top: 398.434px; width: 181.518px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Senator<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> International Spedition<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> GmbH </span><span style="position: absolute; display: inline-block; left: 182.406px; top: 398.496px; width: 382.529px; white-space: pre; word-spacing: 125.958px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> <span style="word-spacing: 125.958px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 58.5761px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Germany<span style="word-spacing: 125.958px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> 100%</span><span style="position: absolute; display: inline-block; left: 141.812px; top: 416.537px; width: 3.60938px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 6.1215px; font-family: ff3; -webkit-text-stroke-width: 0.0918225px;">6</span><span style="position: absolute; display: inline-block; left: 0px; top: 416.277px; width: 143.789px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">St.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Petri Shipping ApS &amp; Co K<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>G </span><span style="position: absolute; display: inline-block; left: 145.125px; top: 416.293px; width: 420.709px; white-space: pre; word-spacing: 125.958px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> <span style="word-spacing: 125.958px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 96.2812px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Germany 100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 434.074px; width: 565.459px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Suez Canal Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal SAE <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 205.242px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Egypt <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.77px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>55%</span><span style="position: absolute; display: inline-block; left: 0px; top: 451.855px; width: 565.723px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Svitzer<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> A/S <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 317.367px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Denmark <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 469.652px; width: 565.312px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Svitzer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Austr<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>alia Pty Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 255.334px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Australia <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.783px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 487.434px; width: 565.307px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Svitzer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Europe Holding B.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>V<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 242.977px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Netherlands <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 109.84px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 505.215px; width: 565.301px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Svitzer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Marine Ltd. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 280.389px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United Kingdom<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 92.5252px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 523.012px; width: 565.541px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal 4 S.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 298.195px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Argentina <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 121.816px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span><span style="position: absolute; display: inline-block; left: 0px; top: 540.793px; width: 565.436px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Visible Supply Chain<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Management LL<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>C <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.09px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United Sta<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>tes <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 104.449px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>100%</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">4 <span class="_ _9"> </span><span class="ws0">In accordance with<span class="_ _2"/> section 264b HGB (German commercial c<span class="_ _2"/>ode), Maersk Line Cre<span class="_ _2"/>wing Hamburg <span class="_ _2"/>ApS &amp; Co. K<span class="_ _2"/>G, Hambur<span class="_ _2"/>g is exempt fr<span class="_ _2"/>om </span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pre <span class="_ _3"/>paring,<span class="_ _2"/> auditing and disclosing statutory financial stat<span class="_ _2"/>ements and a management<span class="_ _2"/> review<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">5 <span class="_ _9"> </span>In accordance with section 264 <span class="_ _2"/>Abs.3 HGB (German commer<span class="_ _2"/>cial code), Sena<span class="_ _2"/>tor In<span class="_ _2"/>ternational Spedition GmbH,<span class="_ _2"/> Hamburg is exempt<span class="_ _2"/> from </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">pre <span class="_ _3"/>paring,<span class="_ _2"/> auditing and disclosing statutory financial stat<span class="_ _2"/>ements and a management<span class="_ _2"/> review<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">6 <span class="_ _9"> </span>In accordance with section<span class="_ _2"/> 264b HGB (German commercial code),<span class="_ _2"/> St.<span class="_ _2"/> Petri Shipping ApS &amp; Co K<span class="_ _2"/>G, Hambur<span class="_ _2"/>g is exempt fr<span class="_ _2"/>om preparing,<span class="_ _2"/> </span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">auditing and disclosing statutory financial sta<span class="_ _2"/>tements and a management<span class="_ _2"/> review<span class="_ _2"/>.</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Associated c<span class="_ _2"/>ompanies</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:250.341796875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 565.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Company<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 325.98px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Country of incorpor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 18.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Owned share</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.9023px; width: 565.705px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Abidjan <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal SA <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 274.488px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Côt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e d’Ivoire <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 114.258px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>49%</span><span style="position: absolute; display: inline-block; left: 0px; top: 42.6992px; width: 565.418px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Brigantine Services Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 257.326px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Hong Kong <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 121.02px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>30%</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.4805px; width: 565.271px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Conakry T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal S.A.<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 267.492px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Guinea <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 141.147px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>25%</span><span style="position: absolute; display: inline-block; left: 0px; top: 78.2617px; width: 565.336px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Congo T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>SA <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 279.756px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Congo <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.77px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>15%</span><span style="position: absolute; display: inline-block; left: 0px; top: 96.0586px; width: 565.477px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Guangzhou South China Oceangat<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 75.9315px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.619px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>20%</span><span style="position: absolute; display: inline-block; left: 0px; top: 113.84px; width: 565.26px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Itapoa <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminais Portuarios S.A.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 219.065px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Br<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>azil <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.185px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>30%</span><span style="position: absolute; display: inline-block; left: 0px; top: 131.621px; width: 565.277px; white-space: pre; word-spacing: -0.315px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Kanoo T<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Services <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 0.375px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Ltd. <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 233.578px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Saudi Ar<span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>abia <span style="word-spacing: -0.315px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 114.732px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>50%</span><span style="position: absolute; display: inline-block; left: 0px; top: 149.418px; width: 565.664px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Meridian Port Servic<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>es Ltd <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 244.148px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Ghana <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 143.625px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>35%</span><span style="position: absolute; display: inline-block; left: 0px; top: 167.199px; width: 565.723px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Pelabuhan <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>anjung Pelepas Sdn. Bhd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 193.565px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Malaysia <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.455px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>30%</span><span style="position: absolute; display: inline-block; left: 0px; top: 184.996px; width: 565.547px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Qingdao Qianwan<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> United Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Lt<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>d. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 125.103px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 148.412px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>10%</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.777px; width: 565.359px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Salalah Port<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Services Company SAOG <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 194.221px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Oman <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 144.949px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>30%</span><span style="position: absolute; display: inline-block; left: 0px; top: 220.559px; width: 565.189px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">South <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Asia Gatewa<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>y <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminals Pvt Ltd <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 190.852px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Sri Lanka <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>33%</span><span style="position: absolute; display: inline-block; left: 0px; top: 238.355px; width: 565.898px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Tianjin Port <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>Al<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>liance International Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Co. L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>td. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 82.5233px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.445px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>20%</span></span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;">Joint vent<span class="_ _2"/>ures</span><span xmlns="http://www.w3.org/1999/xhtml" style="display:inherit;clear:left;position:relative;height:303.685546875px;"><span style="position: absolute; display: inline-block; left: 0px; top: 0.0136718px; width: 565.482px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;">Company<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 325.98px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Country of incorpor<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"/>ation<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 18.7324px; font-size: 10.5px; font-family: ff4; -webkit-text-stroke-width: 0.1575px;"> </span>Owned share</span><span style="position: absolute; display: inline-block; left: 0px; top: 24.9023px; width: 565.512px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Blue Drag<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>on Logistics Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 229.793px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.619px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>50%</span><span style="position: absolute; display: inline-block; left: 0px; top: 42.6836px; width: 565.207px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Brasil <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Portuario S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 231.486px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Brazil <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 145.77px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>50%</span><span style="position: absolute; display: inline-block; left: 0px; top: 60.4805px; width: 565.465px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Cai Mep International <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 186.522px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Vietnam <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.705px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>49%</span><span style="position: absolute; display: inline-block; left: 0px; top: 78.2617px; width: 565.57px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Caucedo Marine Service S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A. (DR Br<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>anch) <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 179.145px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Dominican Republic <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 79.6054px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>50%</span><span style="position: absolute; display: inline-block; left: 0px; top: 96.043px; width: 565.459px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Cote D’Ivoir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal SA<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 250.353px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Côte d’Ivoir<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>e <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 114.258px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>49%</span><span style="position: absolute; display: inline-block; left: 0px; top: 113.84px; width: 565.301px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">LCB Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal 1 Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 232.096px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Thailand <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 132.451px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>35%</span><span style="position: absolute; display: inline-block; left: 0px; top: 131.621px; width: 565.611px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">LCMT<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Company<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 275.022px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Thailand <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 133.213px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>32%</span><span style="position: absolute; display: inline-block; left: 0px; top: 149.418px; width: 565.939px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Nakilat S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>vitzerwijsmuller<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Company W<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.L.L. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 176.297px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Qatar<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.445px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>30%</span><span style="position: absolute; display: inline-block; left: 0px; top: 167.199px; width: 565.195px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">North Sea <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Bremerhaven Gmbh<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> and Co KG <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 131.455px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Germany <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 130.301px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>50%</span><span style="position: absolute; display: inline-block; left: 0px; top: 184.98px; width: 565.84px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Qingdao New Qianw<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>an Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 135.147px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 149.478px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>19%</span><span style="position: absolute; display: inline-block; left: 0px; top: 202.777px; width: 565.365px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Qingdao Qianwan<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 158.648px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.619px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>20%</span><span style="position: absolute; display: inline-block; left: 0px; top: 220.559px; width: 565.424px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Shanghai East Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Co. L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>td. <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 173.643px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.619px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>49%</span><span style="position: absolute; display: inline-block; left: 0px; top: 238.34px; width: 565.436px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Smart Int<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>ernational Logistics Company L<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>td.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 165.234px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 146.619px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>49%</span><span style="position: absolute; display: inline-block; left: 0px; top: 256.137px; width: 565.324px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">South Florida Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal LLC <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 194.221px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>United S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>tates <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 108.938px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>49%</span><span style="position: absolute; display: inline-block; left: 0px; top: 273.918px; width: 565.611px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Svitzer<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Caribbean Dominicana, S<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>.A.S <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 200.736px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>Dominican Republic <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 80.0685px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>50%</span><span style="position: absolute; display: inline-block; left: 0px; top: 291.699px; width: 565.752px; white-space: pre; word-spacing: 0px; letter-spacing: 0px; margin-left: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;">Xiamen Songyu Container<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> T<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -1.071px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/>erminal Co.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> Ltd.<span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: -0.48px; width: 0px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"/> <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 167.408px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>China <span style="word-spacing: 0px; letter-spacing: 0px; display: inline-block; margin-left: 0px; width: 147.445px; font-size: 10.5px; font-family: ff3; -webkit-text-stroke-width: 0.1575px;"> </span>25%</span></span> Denmark Shipping company Denmark Global A/S (Danish limited liability company) A.P. Møller - Mærsk A/S Esplanaden 50, DK-1263 Copenhagen K