3 4 6 7 8 9 2008 was a turning point Management’s review Financial highlights Financial ratios and cash flow Physical data Stat
After several years of uninterrupted growth and progress, the world economy suffered a severe downturn in 2008 as a result of t
2008 was a turning point 4 Management’s review Financial highlights Financial ratios and cash flow Physical data Statistics Goo
Risk assessment There are no special risks which differ from similar businesses apart from the financial risk. The risk attache
2008 was a turning point Management’s review 6 Financial highlights Financial ratios and cash flow Physical data Statistics Goo
Financial ratios in % Equity ratio: Equity end of year end as a percentage of assets end of year Return on capital employed: Pr
2008 was a turning point Management’s review Financial highlights Financial ratios and cash flow 8 Physical data Statistics Goo
Statistics 2000 – 2008 2000 Calling ships (number) Liners Ferries Tankers Others Total Liners Ferries Tankers Others Total Inco
2008 was a turning point Management’s review Financial highlights Financial ratios and cash flow Physical data Statistics 10 Go
The development strategy continues In our 2007 annual report, we speculated on how long the then economic boom would last. The
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Annual re
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3 4 6 7 8 9 2008 was a turning point Management’s review Financ
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After several years of uninterrupted growth and progress, the w
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2008 was a turning point 4 Management’s review Financial highli
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Risk assessment There are no special risks which differ from si
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2008 was a turning point Management’s review 6 Financial highli
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Financial ratios in % Equity ratio: Equity end of year end as a
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2008 was a turning point Management’s review Financial highligh
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Statistics 2000 – 2008 2000 Calling ships (number) Liners Ferri
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2008 was a turning point Management’s review Financial highligh
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The development strategy continues In our 2007 annual report, w
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