Hapag-Lloyd has raised its profitability projection for the current fiscal year and released preliminary earnings numbers for the first half of 2024.
According to early and unaudited projections, Hapag-Lloyd AG generated Group EBITDA of about €1.8 billion ($1.9 billion) (previous year: €3.5 billion/$3.8 billion) and Group EBIT of approximately €0.8 billion ($0.87 billion) (previous year: €2.6 billion/$2.8 billion) in the first half of 2024.
In US dollars, this translates to about $2.0 billion in Group EBITDA (previous year: $3.8 billion) and $0.9 billion in Group EBIT (previous year: $2.8 billion).
Due to recent robust demand and increasing short-term freight rates have surpassed estimates, profit momentum for the second half of the year is expected to be higher than previously anticipated.
Therefore, the Executive Board of Hapag-Lloyd AG is raising its earnings outlook for the financial year 2024.
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Group EBITDA for the full year is now expected to be in the range of €3.2 to 4.2 billion ($3.4 billion to $4.5 billion) (previously: €2.0 to 3.0 billion/$2.1 billion to $3.2 billion) and Group EBIT in the range of €1.2 to 2.2 billion ($1.3 billion to $2.39 billion) (previously: €0.0 to 1.0 billion/ $0.0 to $1.0 billion).
In US dollars, this corresponds to an expected Group EBITDA of $3.5 to 4.6 billion (previously: $2.2 to 3.3 billion) and Group EBIT of $1.3 to 2.4 billion (previous year: $0.0 to 1.1 billion).
The final business numbers for the first half of 2024 will be announced as scheduled on 14 August 2024.
A Hapag-Lloyd official noted: “Against the backdrop of very volatile freight rates and major geopolitical challenges, the forecast is subject to a high degree of uncertainty.”
