Hapag-Lloyd’s container volumes shot up by 24.4% to 7m teu in the first nine months of 2017, while the German carrier also posted strong quarterly financial results.
Net profit rose to €54.3m (US$63.9m) in the third quarter compared with €8.2m (US$9.6m) the same time last year, while earnings before interest, taxes, depreciation and amortisation (EBITDA) soared to €361.5m (US$427m), a rise of 95%.
The carrier’s revenue also showed a positive increase during this time period, growing from €5.7bn (US$6.7bn) to €7.3bn (US$8.6), a rise of 28%.
Elsewhere EBIT rose to €180.6m (US$213.3m), compared with €65.6m (US$77.5m) the previous year.
The integration of UASC into Hapag-Lloyd’s financial statements from May 2017 skews comparisons with the previous year, with the carrier noting ‘the presented figures… can therefore only be compared with prior-year figures to a limited extent’.
The integration of UASC is almost complete and is expected to be finalised by the end of the year, and Hapag-Lloyd CEO Rolf Habben Jansen said the acquisition had played an important part in the strong quarterly results.
“The good operating result that we have achieved after three quarters is not only due to the positive development of the global economy and the increasing global container transportation volume.
“The quick and smooth integration of UASC into the Hapag-Lloyd Group has also played a crucial role. We have already been able to realize the first synergies resulting from the merger which will help us to further solidify our position in the sector.”
During the first nine months Hapag-Lloyd’s freight rates showed little change, growing by just 2% to $1,060.