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Hapag-Lloyd AG: Hapag-Lloyd reports operating profit in 2016

DGAP-News: Hapag-Lloyd AG / Key word(s): Preliminary Results

28.02.2017 / 08:14
The issuer is solely responsible for the content of this announcement.

Hamburg, 28 February 2017

Hapag-Lloyd reports operating profit in 2016

Volume up 2.7% / EBITDA reaches EUR 607 million / EBITDA margin at 7.9% /
EBIT of EUR 126 million

Hapag-Lloyd achieved a positive operating result (EBIT) for 2016. Based on the preliminary unaudited figures earnings before interest, taxes, depreciation of intangible and fixed assets (EBITDA) reached EUR 607 million (2015: EUR 831.0 million) and the operating result (EBIT) EUR 126 million (2015: EUR 366.4 million) in 2016. The EBITDA margin is 7.9%. In the 4th Quarter Hapag-Lloyd was able to increase EBITDA compared to 4th Quarter of the previous year to EUR 226 million (Q4 2015: EUR 140.4 million) and EBIT to EUR 100 million (Q4 2015: EUR 17.8 million).

Due to a significantly lower average freight rate in 2016 of 1,036 USD/TEU (2015: 1,225 USD/TEU) revenue decreased to EUR 7.7 billion (2015: EUR 8.8 billion). At the same time, Hapag-Lloyd increased the transport volume by 2.7% to 7.6 million TEU (2015: 7.4 million TEU). Transport costs declined by 12.3% to EUR 6.4 billion (2015: EUR 7.3 billion) mainly driven by a lower average bunker consumption price of USD 210/tonne (2015: USD 312/tonne) as well as synergies from the integration of CSAV's container shipping business and cost saving programs including improved fuel efficiency. The average USD/EUR exchange rate remained nearly stable at 1.10 USD/EUR compared to 1.11 USD/EUR in 2015.

As at the 31 December 2016 financial year-end date, Hapag-Lloyd had EUR 5.1 billion (2015: EUR 5.0 billion) in equity and a liquidity reserve (cash, cash equivalents and unused

credit facilities) of EUR 760 million (2015: EUR 962.4 million). Net debt amounted to EUR 3,592 million (2015: EUR 3,334 million).

All results are preliminary. The final full year 2016 group financial statements and the annual report 2016 will be published on 24 March 2017.


Preliminary and unaudited 2016 results (in EUR)

Transport volume (TTEU)7,5997,401
Freight rate (USD/TEU)1,0361,225
Revenue (million EUR)7,7348,842
EBITDA (million EUR)607831.0
EBIT (million EUR)126366.4
EBITDA margin7.9%9.4%
EBIT margin1.6%4.1%

Preliminary and unaudited 2016 results (in USD)

Revenue (million USD)8,5469,814
EBITDA (million USD)671922.4
EBIT (million USD)140406.7
Annual average exchange rate USD/EUR1.101.11
Year-end exchange rate USD/EUR1.061.09

About Hapag-Lloyd
With a fleet of 166 modern container ships and a total transport capacity of 963,000 TEU, Hapag-Lloyd is one of the world's leading liner shipping companies. The Company has around 9,400 employees at 366 sites in 121 countries. Hapag-Lloyd has a container capacity of 1.6 million TEU - including one of the largest and most modern fleets of reefer containers. A total of 128 liner services worldwide ensure fast, reliable connections between all the continents. Hapag-Lloyd is one of the leading operators in the Transatlantic, Latin America and Intra-America trades.


28.02.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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