Freight News, Sea

Hapag-Lloyd shows increased Q1 operating result

[ May 17, 2018   //   ]

Hapag-Lloyd has completed the first quarter 2018 with earnings before interest, taxes,
depreciation and amortization (EBITDA) of EUR 219.4 million, which is an increase
compared to the first quarter of the previous year (EUR 135.3 million). The operating result
before interest and taxes (EBIT) stood at EUR 53.7 million after three months (first quarter
2017: EUR 7.5 million).

The group net result amounted to EUR -34.3 million and thereby EUR 23.8 million over the quarterly result of the previous year (EUR -58.1 million). The figures of the first quarter 2018 include United Arab Shipping Company Ltd. (UASC) and can therefore only be compared to a limited extent with the figures of the first quarter 2017 (without UASC).

“We have had a solid start into the current year, but the market environment is challenging.
Freight rates have been under pressure, bunker costs and trucking cost in some important
markets were up and we faced a weaker US-Dollar, whereas higher transport volumes and
synergies supported the result. We expect a gradual improvement of the market throughout
2018 – but most of that will only hit the books in the second half of the year,” said Rolf
Habben Jansen, Chief Executive Officer of Hapag-Lloyd.