Hapag-Lloyd – preliminary fourth quarter & full year results

© Hieronymusukkel

Germany’s Hapag-Lloyd reported preliminary results that were broadly in line with expectations.

Key highlights:

– Ebitda and Ebit were significantly higher despite the coronavirus pandemic;

– Freight rate improved, although transport volumes slightly below prior-year level;

– Its “Performance Safeguarding Program” was successfully implemented.

Strong where it matters 

Adding that 2020 ebitda rose to more than $3bn, it also disclosed ebit surging to about $1.5bn even though it includes one-off expenses in Q4 ’20 “of around $140m, mainly related to fleet optimisation”.

“Both key figures are therefore in line ...