EQS-News: Hapag-Lloyd with good start to 2024 in first quarter of year
EQS-News: Hapag-Lloyd AG
/ Key word(s): Quarter Results/Quarterly / Interim Statement
Hapag-Lloyd with good start to 2024 in first quarter of year
Hapag-Lloyd concluded the first quarter of 2024 with a Group EBITDA of USD 942 million In the Liner Shipping segment, the transport volumes for the first quarter of 2024 increased by 6.8 percent, to 3 million TEU (Q1 2023: 2.8 million TEU). Transport expenses were on a par with the same quarter of the previous year, at USD 3.3 billion (EUR 3 billion). Although costs rose significantly as a result of the rerouting of ships around the Cape of Good Hope, these were largely offset by active cost management. Revenues decreased to USD 4.6 billion (EUR 4.3 billion), primarily owing to a lower average freight rate of 1,359 USD/TEU (Q1 2023: 1,999 USD/TEU). Compared to the same quarter of the previous year, the EBITDA decreased to USD 906 million (EUR 835 million) and the EBIT to USD 378 million (EUR 348 million). In the Terminal Infrastructure segment, an EBITDA of USD 35 million (EUR 32 million) and an EBIT of USD 18 million (EUR 16 million) were achieved in the first quarter of 2024. The new segment was only created in the second half of 2023 and is currently in the process of being established. For this reason, the figures for the first quarter of 2024 are only comparable with the prior-year figures to a limited extent. “Even though our results are significantly below the exceptionally strong figures from the previous year owing to the normalisation of supply chains, we are pleased to have got the new year off to a good start. The rates stabilised in the first quarter due to the rerouting of ships around the Cape of Good Hope and higher demand for capacity. The numerous new ships that have and will be delivered across the industry in 2024 have been instrumental to keep the Supply Chains going without too much disruption. Going forward, we must keep a close eye on our costs, and we will continue the implementation of our Strategy 2030 – with main focus on our decarbonisation initiatives and our promise to be the undisputed number one for quality for our customers,” said Rolf Habben Jansen, CEO of Hapag-Lloyd AG. In view of the positive business performance in the first quarter of 2024, the Executive Board has refined its forecast for the current financial year, which was published on 14 March 2024. The Group EBITDA is now expected to be in the range of USD 2.2 to 3.3 billion (EUR 2 to 3 billion) and the Group EBIT to be in the range of USD 0 to 1.1 billion (EUR 0 to 1 billion). It is still assumed that a large part of the projected result will be generated in the first half of the year. In view of the highly volatile development of freight rates and major geopolitical challenges, this forecast remains subject to a high degree of uncertainty. The financial report for the first quarter of 2024 is available here:
KEY FIGURES (USD)*
* In individual cases, rounding differences may occur in the tables for computational reasons. With the acquisition of SAAM Ports S.A. and SAAM Logistics S.A. (jointly referred to as “SAAM Terminals”) on 1 August 2023, the associated equity stakes were incorporated into the Hapag-Lloyd Group and consequently into the Terminal Infrastructure segment. As a result, the figures in the results of the Terminal Infrastructure segment for the first quarter can only be compared with the prior-year figures to a limited extent. Disclaimer
Ballindamm 25 20095 Hamburg Phone +49 40 3001-3705 Fax +49 40 3001-72896 Mobile +49 174 326-3123
15.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
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: | [email protected] |
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: | 1903283 |
End of News | EQS News Service |
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1903283 15.05.2024 CET/CEST
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