Higher freight rates help Hapag-Lloyd improve operating result
Despite the coronavirus pandemic, the rise in freight rates and reduction in bunker prices have helped Hapag-Lloyd deliver improvements in operating profit and revenue in its preliminary figures for the 2020 financial year.
Operating profit rose to around US$1.5bn, up from US$0.9bn in 2019, whilst EBITDA rose to more than US$3bn from US$2.2bn the previous year.
The operating profit result also includes one-off expenses in the fourth quarter of 2020 of around US$140m, which were mainly related to fleet optimisation.
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