News / Hapag-Lloyd upgrades 2020 profit forecast 28% after a bumper Q3

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Hapag-Lloyd has upgraded its full-year earnings guidance by 28% after unaudited third-quarter results came in 17% higher.

The carrier said it now expected a 2020 ebitda of €2.4bn-€2.6bn, up from its previous guidance of €1.7bn-€2.2bn, and follows a preliminary Q3 ebitda of €650m.

“We have experienced a strong third quarter with a high demand, especially for exports out of Asia,” said chief executive Rolf Habben Jansen.

“Volumes were 3% below the previous year, but much better than expected some months ago.”

“Thanks to the ...