Svitzer will continue to be headquartered in Copenhagen and operate under the same Svitzer name with around 450 vessels operating worldwide.
“The separation from APMM and separate listing of Svitzer on Nasdaq Copenhagen provides a solid platform for us to continue executing on our strategy and building our position in the market in the years to come,” said Svitzer chief executive Kasper Friis Nilaus.
“We are excited and fully ready to become a stand-alone, listed company, offering investors the opportunity to invest in a leading global towage and marine services provider with a strong, steadily performing underlying business and continued growth ambitions.”
In the run-up to this demerger and listing, Mr Nilaus explained to Riviera Maritime Media the strategy for future sustainable growth and investments.
“Operating in a growing towage market, we have an attractive financial profile with solid margins and a predictable cash flow,” he said. “We are organisationally, financially and operationally ready for a future as a stand-alone listed company.”
Its tugs, pilot boats and line handlers operate in ports and terminals in Latin America, the Caribbean, Europe, the Middle East, Asia and Australia.
“Our strategy going forward is to continue the journey we have been on in the last few years, growing our business by pursuing long-term terminal contracts, expanding our harbour towage footprint, focusing on customer interaction and satisfaction, and continuing to invest in our people.”
APMM will continue to support the stand-alone tug owner, as on 29 April, it transferred its holding of approximately 41.65% of the shares and voting rights in Svitzer Group to its wholly-owned subsidiary APMH Invest, according to a Svitzer notification on Nasdaq Copenhagen.
Svitzer is implementing a new long-term share-based incentive programme consisting of restricted share units for 2024 and an extraordinary share-based incentive programme in the form of one-off grants of restricted shares and cash completion bonuses to members of the executive management and other eligible employees.
