A record year for box ship orders, as greener-shipping rules loom
More new containerships have been commissioned from shipyards this week, with orders this year set ...
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– Significant increase in half-year result compared to previous year
– Global demand for container transports remains at a high level
– Earnings outlook for the financial year 2021 raised
Based on preliminary figures, Hapag-Lloyd expects for the first half of 2021 an EBITDA of approximately USD 4.2 billion (around EUR 3.5 billion) compared to around USD 1.3 billion (approximately EUR 1.2 billion) in the prior-year period. At the same time, EBIT is expected to be roughly USD 3.5 billion (around EUR 2.9 billion) compared to approximately USD 0.6 billion (around EUR 0.5 billion) in the first half of 2020.
Global demand for container transport remains at a high level. However, operational disruptions along the entire supply chain continue to cause significant delays and thereby contribute to the shortage of transport capacity. Hapag-Lloyd therefore expects earnings momentum to remain very strong in the second half of the financial year. Previously, a gradual normalisation of the earnings trend had been expected for the second half-year.
Given these circumstances, the Executive Board of Hapag-Lloyd raises its earnings outlook for the 2021 financial year. EBITDA is now expected to be in the range of USD 9.2 to 11.2 billion or EUR 7.6 to 9.3 billion (previously: clearly above previous year) and EBIT in the range of USD 7.5 to 9.5 billion or EUR 6.2 to 7.9 billion (previously: clearly above previous year), respectively.
“We also benefitted from better freight rates in the second quarter and are looking at a very strong first half-year overall. At the same time, since we firmly expect this momentum to carry over into the second half of the year, we have raised our earnings forecast for 2021 as a whole. We will continue to work tirelessly to reduce the impact of supply chain bottlenecks for our customers and to deliver a better service quality,” said Rolf Habben Jansen, CEO of Hapag-Lloyd.
The final business figures for the first half of 2021 will be published as planned on 12 August 2021.
Explanatory notes relating to the performance measures EBITDA and EBIT referred to herein can be found in the 2020 Annual Report available at:
https://www.hapag-lloyd.com/en/ir/publications/financial-report.html
Press contacts
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[email protected] +49 40 3001 – 2291
About Hapag-Lloyd
With a fleet of 241 modern container ships and a total transport capacity of 1.7 million TEU, Hapag-Lloyd is one of the world’s leading liner shipping companies. The Company has around 13,300 employees and 395 offices in 131 countries. Hapag-Lloyd has a container capacity of approximately 2.8 million TEU – including one of the largest and most modern fleets of reefer containers. A total of 121 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.
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