hapag-lloyd © Hieronymusukkel
© Hieronymusukkel


15 October 2020

– Performance of container shipping market and Hapag-Lloyd in Q3 much better than anticipated

– Compared to Q2 much stronger demand and higher revenues in Q3

– Performance Safeguarding Program running successfully

On the basis of preliminary figures, Hapag-Lloyd’s earnings before interest and taxes (EBIT) for the third quarter 2020 significantly increased to around EUR 350 million (2019: EUR 253 million). Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to around EUR 650 million (2019: EUR 554 million). Volumes were 3 per cent under previous year, but much better than expected some months ago.

The main drivers of the positive business developments have been significantly higher demand and respectively higher transport volumes, and rigorous cost and revenue management predominately driven by the company´s Performance Safeguarding Program (PSP), which has been set up in the first quarter of 2020.

Due to the positive development in Q3 Hapag-Lloyd updates its EBITDA and EBIT guidance. We now expect an EBIT of EUR 1.1 to 1.3 billion and an EBITDA of EUR 2.4 to 2.6 billion.

To read the full release, please click here.

Previously in May: “Hapag-Lloyd keeps 2020 guidance but CEO says only just(includes guidance at the time).

Hapag stock up 3.6% at 1.50pm BST; up 2.2% @ 2.50pm.

Comment on this article

You must be logged in to post a comment.