News / Hapag books $4.7bn Q1 profit, but the outlook is uncertain as costs rise

“We have to accept that demand is going down,” said Hapag-Lloyd CFO Mark Frese, after announcing a net profit leap to $4.7bn in the first quarter.

He was standing in for CEO Rolf Habben Jansen at the carrier’s Q1 earnings call presentation this morning.

The company saw Q1 net profit, at $4.7bn, more than triple the $1.45bn for the same period of last year, and also expects a “strong second quarter” – but is much less certain about the outlook thereafter.

“Looking at the ...