Hapag-Lloyd AG
Hapag-Lloyd delivers good result in first nine months of 2020
DGAP-News: Hapag-Lloyd AG
/ Key word(s): 9 Month figures
Hamburg, 13 November 2020 Hapag-Lloyd delivers good result in first nine months of 2020 – Strong earnings due to volume recovery in Q3, stable freight rates and low bunker prices – Transport volumes only slightly below prior-year level thanks to Q3 upward trend – Performance Safeguarding Program (PSP) delivers expected cost savings
At around USD 10.5 billion (EUR 9.4 billion) after the first nine months of the year, revenues were about 1 percent below the prior-year figure. This can primarily be attributed to pandemic-related effects, including a double-digit drop in demand in the second quarter and an overall transport volume that was 3.5 percent lower than the prior-year figure, at 8,696 TTEU (9M 2019: 9,011 TTEU). The average freight rate was up 2 percent, to 1,097 USD/TEU (9M 2019: 1,075 USD/TEU), which had a positive impact on earnings. In addition, transport expenses decreased more than proportionately by 6 percent, due to a combination of lower transport volumes, a lower average bunker price of USD 402 per metric tonne (9M 2019: USD 425 per tonne), and rigorous cost management as part of the Performance Safeguarding Program (PSP). Based on the earnings forecast that was adjusted upwards in October, Hapag-Lloyd expects an EBITDA of EUR 2.4 to 2.6 billion and an EBIT of EUR 1.1 to 1.3 billion for the full financial year 2020. The financial report for the first nine months of 2020 is available online at:
KEY FIGURES (EURO)*
*In individual cases, rounding differences may occur in the tables for computational reasons. About Hapag-Lloyd Disclaimer Contact: Heiko Hoffmann Senior Director Investor Relations Hapag-Lloyd AG Ballindamm 25 20095 Hamburg Phone +49 40 3001-2896 Fax +49 40 3001-72896 Mobile +49 172 875-2126
13.11.2020 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | Hapag-Lloyd AG |
Ballindamm 25 | |
20095 Hamburg | |
Germany | |
Phone: | +49 (0) 40 3001 – 2896 |
Fax: | +49 (0) 40 3001 – 72896 |
E-mail: | ir@hlag.com |
Internet: | www.hapag-lloyd.com |
ISIN: | DE000HLAG475 |
WKN: | HLAG47 |
Listed: | Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1147864 |
End of News | DGAP News Service |