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Hapag-Lloyd with extraordinarily strong start to the year in first quarter

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DGAP-News: Hapag-Lloyd AG / Key word(s): Quarter Results/Quarterly / Interim Statement
Hapag-Lloyd with extraordinarily strong start to the year in first quarter
12.05.2022 / 07:32
The issuer is solely responsible for the content of this announcement.

Hapag-Lloyd with extraordinarily strong start to the year in first quarter

- Result significantly higher than prior-year period

- Transport volume at prior-year level

- Outlook upgraded based on current business performance


Hapag-Lloyd has concluded the first quarter of 2022 with an EBITDA of USD 5.3 billion (EUR 4.7 billion). The EBIT rose to USD 4.8 billion (EUR 4.3 billion), and the Group profit climbed to USD 4.7 billion (EUR 4.2 billion).

“The year has got off to an exceptionally strong start on the whole, and whilst there have been first signs that the market has passed its peak we also expect a strong second quarter,” said Rolf Habben Jansen, CEO of Hapag-Lloyd AG.

Revenues rose in the first quarter of 2022 to USD 9.0 billion (EUR 8.0 billion). This can primarily be attributed to a much higher average freight rate of 2,774 USD/TEU (Q1 2021: 1,509 USD/TEU) and a stronger US dollar.

Many ports are still congested, and hinterland infrastructures are strained, which together is resulting in longer turnaround times for ships and containers. Overall, transport volumes were roughly on a par with the prior-year level, at 3.0 million TEU. The result was impacted by significantly increasing expenses for container handling and a roughly 60 per cent higher average bunker consumption price, which stood at USD 613 per tonne (Q1 2021: 384 USD per tonne) in the first quarter.

Based on the current business performance, the second quarter will exceed earlier expectations. In view of these circumstances, the Executive Board of Hapag-Lloyd AG raised its earnings forecast for the current financial year on 28 April. For the 2022 financial year, an EBITDA in the range of USD 14.5 to 16.5 billion (EUR 13.6 to 15.5 billion) and an EBIT in the range of USD 12.5 to 14.5 billion (EUR 11.7 to 13.6 billion) are now expected. However, this forecast remains subject to considerable uncertainty given the ongoing COVID-19 pandemic and the war in Ukraine.

“Global supply chains continue to be under significant pressure – not least because of the recent measures taken in China in response to COVID-19 outbreaks. This situation is expected to improve in the second half of the year. For our customers worldwide, we will do everything in our power to help normalise this difficult market environment as quickly as possible. At the same time, we will continue to focus on quality and sustainability and further implement our Strategy 2023,” Habben Jansen added.

The financial report for the first quarter of 2022 is available online at:
https://www.hapag-lloyd.com/en/ir/publications/financial-report.html

 

KEY FIGURES (USD)*

 

Q1 2022

Q1 2021

Q1 2022 versus
Q1 2021

Transport volume (TTEU)

2,987

2,975

0.4%

Freight rate (USD/TEU)

2,774

1,509

83.9%

Revenues (USD million)

8,956

4,903

4,053

EBITDA (USD million)

5,307

1,909

3,397

EBIT (USD million)

4,791

1,539

3,251

EBITDA margin

59%

39%

20 Ppt

EBIT margin

53%

31%

22 Ppt

Group profit (USD million)

4,684

1,451

3,233

 


KEY FIGURES (EURO)*

 

Q1 2022

Q1 2021

Q1 2022 versus
Q1 2021

Revenues (EUR million)

7,977

4,067

3,909

EBITDA (EUR million)

4,726

1,584

3,142

EBIT (EUR million)

4,267

1,277

2,990

Group profit (EUR million)

4,171

1,203

2,968

Average exchange rate (USD/EUR)

1.12

1.21

-0.08

End-of-period exchange rate (USD/EUR)

1.11

1.17

-0.06

* In individual cases, rounding differences may occur in the tables for computational reasons.

About Hapag-Lloyd
With a fleet of 248 modern container ships and a total transport capacity of 1.8 million TEU, Hapag-Lloyd is one of the world’s leading liner shipping companies. The Company has around 14,000 employees and 418 offices in 137 countries. Hapag-Lloyd has a container capacity of approximately 3.0 million TEU – including one of the largest and most modern fleets of reefer containers. A total of 123 liner services worldwide ensure fast and reliable connections between more than 600 ports on all the continents. Hapag-Lloyd is one of the leading operators in the Transatlantic, Middle East, Latin America and Intra-America trades.

Disclaimer
This press release contains forward-looking statements that involve a number of risks and uncertainties. Such statements are based on a number of assumptions, estimates, projections or plans that are inherently subject to significant risks, uncertainties and contingencies. Actual results can differ materially from those anticipated in the Company’s forward-looking statements.

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


12.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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:

1350293


 

End of News

DGAP News Service

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