Put companies on watchlist
Hapag-Lloyd AG
ISIN: DE000HLAG475
WKN: HLAG47
About
Company Snapshot
New: Enable Investor Alerts
Be informed about new publications
New: AI Factsheet

Corporate News meets AI! 
Content analysis and summary

EN GIF 300X250

Hapag-Lloyd AG · ISIN: DE000HLAG475 · EQS - Company News (76 News)
Country: Germany · Primary market: Germany · EQS NID: 1700263
10 August 2023 07:29AM

Hapag-Lloyd achieves robust half-year results in a weaker market environment


EQS-News: Hapag-Lloyd AG / Key word(s): Half Year Report
Hapag-Lloyd achieves robust half-year results in a weaker market environment

10.08.2023 / 07:29 CET/CEST
The issuer is solely responsible for the content of this announcement.


Hapag-Lloyd achieves robust half-year results in a weaker market environment 

  • Subdued demand continues in the first half of 2023
  • Earnings forecast for 2023 as a whole confirmed
  • Continued focus on formulating ‘Strategy 2030’

Hapag-Lloyd has concluded the first half of 2023 with an EBITDA of USD 3.8 billion (EUR 3.5 billion) and an EBIT of USD 2.8 billion (EUR 2.6 billion). The Group profit stood at USD 3.1 billion (EUR 2.9 billion). As expected, these results are significantly below the prior-year level.

Transport volumes experienced a year-on-year decline of 3.4 percent, to 5,807 TTEU (H1 2022: 6,012 TTEU), primarily owing to lower demand for container transports on the Far East and European trade routes to North America. In addition, a lower average freight rate of 1,761 USD/TEU (H1 2022: 2,855 USD/TEU) was particularly responsible for the decline in revenue, which decreased to USD 10.8 billion (EUR 10.0 billion). Transport expenses were below the prior-year level, at USD 6.3 billion (EUR 5.9 billion), primarily due to lower expenditures for demurrage and detention and a decreased bunker consumption price of USD 625 per tonne (H1 2022: USD 703 per tonne).

“Weaker demand and lower freight rates are having a very noticeable impact on our earnings. In a challenging market environment, we can look back on a successful first half year overall, in which we were able to expand our terminal portfolio while also significantly boosting our customers’ satisfaction thanks to our focus on quality. In the second half of the year, we will continue to focus on formulating our ‘Strategy 2030’. This strategy will guide us forward on our strategic path to success in 2024,” said Rolf Habben Jansen, CEO of Hapag-Lloyd AG.

For the full year 2023, Hapag-Lloyd confirms the forecast it published on 2 March. EBITDA is expected to be in the range of USD 4.3 to 6.5 billion (EUR 4 to 6 billion) and EBIT to be in the range of USD 2.1 to 4.3 billion (EUR 2 to 4 billion). However, the ongoing war in Ukraine, geopolitical uncertainties, persistent inflationary pressures and high inventory levels are creating risks that could negatively impact the forecast.

The report for the first half year of 2023 is available online at:

https://www.hapag-lloyd.com/en/ir/publications/financial-report.html 

 KEY FIGURES (USD)*

  H1 2023 H1 2022 H1 2023 versus
H1 2022
Transport volume (TTEU) 5,807 6,012 - 205
Freight rate (USD/TEU) 1,761 2,855 - 1,095
Revenues (USD million) 10,847 18,562 - 7,715
EBITDA (USD million) 3,775 10,942 - 7,166
EBIT (USD million) 2,762 9,919 - 7,157
EBITDA margin 35% 59% - 24 Ppt
EBIT margin 25% 53% - 28 Ppt
Group profit (USD million) 3,133 9,466 - 6,333

 
KEY FIGURES (EURO)* 

  H1 2023 H1 2022 H1 2023 versus
H1 2022
Revenues (EUR million) 10,036 16,970 - 6,934
EBITDA (EUR million) 3,493 10,004 - 6,511
EBIT (EUR million) 2,555 9,068 - 6,513
Group profit (EUR million) 2,898 8,654 - 5,756
Annual average exchange rate (USD/EUR) 1.08 1.09 - 0.01
End of period exchange rate (USD/EUR) 1.09 1.04  0.05

* In individual cases, rounding differences may occur in the tables for computational reasons.


About Hapag-Lloyd
With a fleet of 258 modern container ships and a total transport capacity of 1.9 million TEU, Hapag-Lloyd is one of the world’s leading liner shipping companies. The Company has around 14,000 employees and 400 offices in 135 countries. Hapag-Lloyd has a container capacity of 2.9 million TEU – including one of the largest and most modern fleets of reefer containers. A total of 115 liner services worldwide ensure fast and reliable connections between more than 600 ports on all the continents. Hapag-Lloyd is one of the leading operators in the Transatlantic, Middle East, Latin America and Intra-America trades.

Disclaimer
This press release contains forward-looking statements that involve a number of risks and uncertainties. Such statements are based on a number of assumptions, estimates, projections or plans that are inherently subject to significant risks, uncertainties and contingencies. Actual results can differ materially from those anticipated in the Company’s forward-looking statements.

 
Contact:
Alexander Drews
Director Investor Relations

Hapag-Lloyd AG
Ballindamm 25
20095 Hamburg
Phone +49 40 3001-3705
Fax +49 40 3001-72896
Mobile +49 174 326-3123


10.08.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: Hapag-Lloyd AG
Ballindamm 25
20095 Hamburg
Germany
Phone: +49 (0) 40 3001 – 3705
Fax: +49 (0) 40 3001 - 72896
E-mail: ir@hlag.com
Internet: www.hapag-lloyd.com
ISIN: DE000HLAG475
WKN: HLAG47
Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1700263

 
End of News EQS News Service

1700263  10.08.2023 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=1700263&application_name=news&site_id=boersengefluester
Visual performance / price development - Hapag-Lloyd AG
Smart analysis and research tools can be found here.

This publication was provided by our content partner EQS3.

EQS Newswire
via EQS - Newsfeed
EQS Group AG ©2024
(DGAP)
Contact:
Karlstraße 47 D-80333 München
+49 (0) 89 444 430-000

 

SMART * AD
EN GIF 970X250

P R O D U C T   S U G G E S T I O N S

The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.


The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.

If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.

For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.


1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.