Hapag-Lloyd with good start to 2024 in first quarter of year

Share

Hapag-Lloyd concluded the first quarter of 2024 with a Group EBITDA of USD 942 million
(EUR 868 million). Compared to the same quarter of the previous year, the Group EBIT decreased to USD 396 million (EUR 365 million) and the Group profit to USD 325 million (EUR 299 million).
“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,” said Rolf Habben Jansen, CEO of Hapag-Lloyd AG.

“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.”

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, however, Hapag-Lloyd points out that this forecast remains subject to a high degree of uncertainty.

logo