Leaderboard
Leaderboard
Leaderboard
Leaderboard

Sky-high freight rates lead to profit surge for Hapag-Lloyd

Sky-high freight rates lead to profit surge for Hapag-Lloyd
Rolf Habben Jansen, CEO of Hapag-Lloyd

Based on preliminary figures, Hapag-Lloyd expects an EBITDA of approximately US$4.2bn in the first half of 2021, a significant increase compared to the US$1.3bn recorded in the same period last year.

Although global demand for container transport remains at a high level, operation disruptions along the entire supply chain continue to cause significant delays and thereby contribute to the shortage of transport capacity.

As a result, Hapag-Lloyd expects earnings momentum to remain very strong in the second half of the year although, previously, a gradual normalisation of the earnings trend had been expected for the second half of the year.

Rolf Habben Jansen, CEO of Hapag-Lloyd, said: “We also benefitted from better freight rates in the second quarter and are looking at a very strong half year overall.

“At the same time, since we firmly expect this momentum to carry over onto the second half of the year, we have raised our earnings forecast for 2021 as a whole. We will continue to work tirelessly to reduce the impact of supply chain bottlenecks for out customers and to tdeliver a better service quality.”

The executive board of Hapag-Lloyd has raised its earning outlook for the 2021 financial year with EBITDA now expected to be in the range of US$9.2bn to US$11.2bn and EBIT in the range of US$7.5bn to US$9.5bn respectively.

EBIT for the first half of 2021 is expected to be around US$3.5bn compared to approximately US%0.6bn in the first half of 2020.

The final business figures for the first half of 2021 will be published as planned on August 12, 2021.