Strong earnings for Hapag-Lloyd in Q3 2020
Volume recovery, stable freight rates and low bunker prices have contributed toward strong earnings for Hapag-Lloyd in the third quarter of 2020.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) have increased 20.4% year-on-year to US$2bn while earnings before interest and taxes (EBIT) has risen to 965m.
The Group net result increased by US$272m year-on-year to US$605m, although revenues for the first nine months of the year were 1% lower than 2019 at around US$10.5bn.
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