Hapag-Lloyd's transport volumes up by 5 percent in H1 2024
Hapag-Lloyd concluded the first half year of 2024 with a Group EBITDA of USD 2 billion (EUR 1.8 billion). The Group EBIT decreased to USD 0.9 billion (EUR 0.8 billion) and the Group profit to USD 0.8 billion (EUR 0.7 billion). In view of the significantly changed market conditions following the end of the COVID-19 pandemic, these results are well below the previous year’s level, but they are also above the initial expectations due to higher demand and rising spot rates in the second quarter of 2024, according to the company's release.
In the Liner Shipping segment, the transport volumes increased by 5 percent compared to the prior-year period, to 6.1 million TEU (H1 2023: 5.8 million TEU). Segment revenues fell by 14 percent, to USD 9.3 billion (EUR 8.6 billion), in particular due to a lower average freight rate of 1,391 USD/TEU (H1 2023: 1,761 USD/TEU) compared to the same period last year. The EBITDA decreased to USD 1.9 billion (EUR 1.8 billion). The EBIT fell to USD 0.8 billion (EUR 0.8 billion).
The Terminal & Infrastructure segment achieved a significant increase in sales and earnings in the first half of 2024, in particular due to the equity stakes acquired in the previous year. The EBITDA rose to USD 71 million (EUR 66 million) and the EBIT to USD 33 million (EUR 31 million). Since the segment was founded in the second half of 2023, the results for the first half of 2024 are only comparable with the prior-year figures to a limited extent.
The Executive Board raised its forecast for the current financial year on 9 July 2024. The Group EBITDA is expected to be in the range of USD 3.5 to 4.6 billion (EUR 3.2 to 4.2 billion) and the Group EBIT to be in the range of USD 1.3 to 2.4 billion (EUR 1.2 to 2.2 billion). In view of the highly volatile development of freight rates and major geopolitical challenges, this forecast remains subject to a high degree of uncertainty.
With a fleet of 287 modern container ships and a total transport capacity of 2.2 million TEU, Hapag-Lloyd is one of the world’s leading liner shipping companies. In the Liner Shipping segment, the company has around 13,700 employees and 400 offices in 140 countries. Hapag-Lloyd has a container capacity of 3.2 million TEU – including one of the largest and most modern fleets of reefer containers. A total of 114 liner services worldwide ensure fast and reliable connections between more than 600 ports on all the continents. In the Terminal & Infrastructure segment, Hapag-Lloyd has equity stakes in 20 terminals in Europe, Latin America, the United States, India and North Africa. Around 2,900 employees are assigned to the Terminal & Infrastructure segment and provide complementary logistics services at selected locations in addition to the terminal activities.
