Hapag-Lloyd achieves extraordinary strong result in first nine months of 2021
Hapag-Lloyd has concluded the first nine months of 2021 with an EBITDA of USD 8.2 billion (EUR 6.8 billion). The EBIT was also much higher than in the prior-year period, at USD 6.9 billion (EUR 5.8 billion). At the same time, the Group profit improved to USD 6.7 billion (EUR 5.6 million), according to the port of Hamburg's release.
Revenues rose in the first nine months of 2021 by approximately 70 percent, to USD 17.9 billion (EUR 15.0 billion). The rise can primarily be attributed to a higher average freight rate of 1,818 USD/TEU (9M 2020: 1,097 USD/TEU). This significant increase is mainly the result of persistently high demand for container transports with scarce capacities at the same time. In addition, transport volumes were up to 8,980 TTEU and thereby 3 percent higher than the comparable figure for the previous year.
Transport expenses climbed 16 percent in the nine-month period, to USD 8.9 billion (EUR 7.4 billion). This was due in part to higher costs for container handling and an increased average bunker consumption price, which stood at USD 452 per tonne in the first nine months (9M 2020: 402 USD per tonne).
Looking ahead, Hapag-Lloyd expects that earnings momentum will also remain at a high level for the rest of the year. The earnings forecast for the entire year was accordingly adjusted upwards on 29 October: For the 2021 financial year, an EBITDA in the range of EUR 10.1 to 10.9 billion (previously: EUR 7.6 to 9.3 billion) and an EBIT in the range of EUR 8.7 to 9.5 billion (previously: EUR 6.2 to 7.9 billion) are now expected.
