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DGAP-News: Hapag-Lloyd AG / Key word(s): Quarter Results/Quarterly / Interim Statement
Hapag-Lloyd with extraordinarily strong start to the year in first quarter
- Result significantly higher than prior-year period
- Transport volume at prior-year level
- Outlook upgraded based on current business performance
“The year has got off to an exceptionally strong start on the whole, and whilst there have been first signs that the market has passed its peak we also expect a strong second quarter,” said Rolf Habben Jansen, CEO of Hapag-Lloyd AG.
Revenues rose in the first quarter of 2022 to USD 9.0 billion (EUR 8.0 billion). This can primarily be attributed to a much higher average freight rate of 2,774 USD/TEU (Q1 2021: 1,509 USD/TEU) and a stronger US dollar.
Many ports are still congested, and hinterland infrastructures are strained, which together is resulting in longer turnaround times for ships and containers. Overall, transport volumes were roughly on a par with the prior-year level, at 3.0 million TEU. The result was impacted by significantly increasing expenses for container handling and a roughly 60 per cent higher average bunker consumption price, which stood at USD 613 per tonne (Q1 2021: 384 USD per tonne) in the first quarter.
Based on the current business performance, the second quarter will exceed earlier expectations. In view of these circumstances, the Executive Board of Hapag-Lloyd AG raised its earnings forecast for the current financial year on 28 April. For the 2022 financial year, an EBITDA in the range of USD 14.5 to 16.5 billion (EUR 13.6 to 15.5 billion) and an EBIT in the range of USD 12.5 to 14.5 billion (EUR 11.7 to 13.6 billion) are now expected. However, this forecast remains subject to considerable uncertainty given the ongoing COVID-19 pandemic and the war in Ukraine.
The financial report for the first quarter of 2022 is available online at:
KEY FIGURES (USD)*
* In individual cases, rounding differences may occur in the tables for computational reasons.
Senior Director Investor Relations
Phone +49 40 3001-2896
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|Phone:||+49 (0) 40 3001 – 2896|
|Fax:||+49 (0) 40 3001 - 72896|
|Listed:||Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1350293|
|End of News||DGAP News Service|
Hapag-Lloyd AG has released its Q1 2022 Financial Report on Thursday, 12 May 2022.
A conference call and webcast for investors and analysts took place on the same day.
Here you can access a replay of the webcast.