In the first half of 2023, demand continued to be sluggish

Confirm full-year 2023 earnings forecast

Continue to work on the 2030 Strategy

As of the first half of 2023, Hapg-Lloyds had EBITDA of $3.8 billion 3.5 billion and EBIT of $2.8 billion (€ 2.6 billion). Group profit was US $3.1 billion (€ 2.9 billion). As expected, these results are significantly lower than last year's levels.

traffic fell 3.4 percent year-on-year to 5,807 TTEU (H1 2022: 6,012 TTEU), mainly due to lower demand for container traffic on the Far East and European to North American trade routes. In addition, a lower average freight rate of US $1,761/TEU (first half of 2022: US $2,855/TEU) was the main reason for the decline in revenue, which fell to US $10.8 billion (€ 10 billion). Transportation costs were lower than last year at US $6.3 billion (€ 5.9 billion), mainly due to lower demurrage and demurrage charges and lower fuel consumption prices to US $625 per ton (US $703 per ton in the first half of 2022).

Jansen, CEO of Hapag-Lloyd AG, said, "Weak demand and lower freight rates have had a very clear impact on our earnings. In a challenging market environment, we can look back on the success of the entire first half of the year. We were able to expand our end product portfolio and also greatly improve customer satisfaction, thanks to our focus on quality. In the second half of this year, we will continue to focus on formulating the 2030 Strategy ". This strategy will guide us on our strategic path to success in 2024. "

For the full year 2023, Hapag-Lloyds confirmed the forecast published on March 2. EBITDA is expected to be between $4.3 billion and $6.5 billion (€ 4 billion and € 6 billion) and EBIT is expected to be between $2.1 billion and $4.3 billion (€ 2 billion and € 4 billion). However, the ongoing war in Ukraine, geopolitical uncertainty, ongoing inflationary pressures and high inventory levels are creating risks that could negatively impact the forecast. "

Source: Hapag-Lloth official website