Q1 2019 AP Moeller - Maersk A/S Earnings Call Transcript
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Good day, everybody. Thank you for listening to our earnings call for the first quarter of 2019 today for Maersk. My name is Soren Skou. I'm the CEO, and I'm joined here by Carolina Dybeck Happe, our CFO.
So moving on to the second slide. I'd like to, as usual, to advise you to read our disclaimer regarding forward-looking statements.
Let me start out with the financial highlights for the year. I believe we had a good start to the year, growing top line by 2.5% to $9.5 billion. Our EBITDA was up by 1/3 to $1.2 billion, and it was driven by an increase across both Ocean, Logistics & Services and the Terminals & Towage segment. Our operating cash flow performed strongly. We came in double of what we did in the same period last year, and the cash conversion was around 120%.
We have, as a consequence of the strong cash flow from operations as well as the sale of the
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