Hapag-Lloyd’s Profits Rise Significantly In Q1
Hapag-Lloyd closed the first quarter of 2019 with a significantly higher operating profit as Earnings before interest and taxes (EBIT) increased to EUR 214 million (Q1 2018: EUR 51 million).
The Group net result increased to EUR 96 million (Q1 2018: EUR -34 million). Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to EUR 489 million (Q1 2018: EUR 216 million), also impacted by the first-time application of the reporting standard IFRS 16.
“Thanks to higher transport volumes, better freight rates and a stronger US dollar, we achieved a good result and got the year off to a very decent start,” said Rolf Habben Jansen, Chief Executive Officer of Hapag-Lloyd.
Revenues in the first quarter increased by 17% to EUR 3.1 billion (Q1 2018: EUR 2.6 billion) and transport volume rose 2% to 2,929 TTEU (Q1 2018: 2,861 TTEU). The average freight rate improved to 1,079 USD/TEU (Q1 2018: 1,029 USD/TEU), and the result was also positively influenced by a stronger average exchange rate of 1.14 USD/EUR (Q1 2018: 1.23 USD/EUR). In contrast, higher bunker prices of USD 425 per tonne had a negative impact on the quarterly result (Q1 2018: USD 372 per tonne).
Rolf Habben Jansen: “We are cautiously optimistic about 2019 despite slightly dampened forecasts for global economic growth and higher fuel prices. Q1 was in line with our expectations and we believe we can make further progress towards our strategic objectives throughout the rest of the year as we continue to roll-out and implement our Strategy 2023.”
Reference: hapag-lloyd.com
Marine Insight Academy
Online courses for the Maritime industry!
Enroll For Maritime Courses
- 100 + Free & Premium Courses
- Learn at your own speed
- Earn certificates on completing Premium Courses
- Quizes to evaluate your knowledge
- Interactive videos
Marine Insight Academy
Enroll For Maritime Courses
- 100 + Free & Premium Courses
- Learn at your own speed
- Earn certificates on completing Premium Courses
- Quizes to evaluate your knowledge
- Interactive videos
Disclaimer :
The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Disclaimer :
The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
Do you have info to share with us ? Suggest a correction
About Author
Marine Insight News Network is a premier source for up-to-date, comprehensive, and insightful coverage of the maritime industry. Dedicated to offering the latest news, trends, and analyses in shipping, marine technology, regulations, and global maritime affairs, Marine Insight News Network prides itself on delivering accurate, engaging, and relevant information.
About Author
Marine Insight News Network is a premier source for up-to-date, comprehensive, and insightful coverage of the maritime industry. Dedicated to offering the latest news, trends, and analyses in shipping, marine technology, regulations, and global maritime affairs, Marine Insight News Network prides itself on delivering accurate, engaging, and relevant information.
Daily Maritime News, Straight To Your Inbox
Sign Up To Get Daily Newsletters
Join over 60k+ people who read our daily newsletters
By subscribing, you agree to our Privacy Policy and may receive occasional deal communications; you can unsubscribe anytime.
BE THE FIRST TO COMMENT