Hapag-Lloyd achieves very good result in first nine months of 2022
Hapag-Lloyd has concluded the first nine months of 2022 with an EBITDA of US$6.6 billion (FJ$14.73 billion) and an EBIT of US$15.1 billion (FJ$ 33.70 14.2 billion).
At the same time, the Group profit climbed to US$4.7 billion FJ$ 10.49 billion).
“Thanks to higher freight rates, we have achieved an exceptionally strong nine-month result.
“However, we are also seeing that the market environment has deteriorated further in the third quarter.
“This is evident, for example, in falling spot rates and rising inflation-related unit costs,”
said Rolf Habben Jansen, CEO of Hapag-Lloyd AG.
The first nine months were significantly marked by disruptions in the global supply chains, which resulted in longer turnaround times for ships and containers.
At the end of the third quarter, there was weaker demand for container transports and consequently a slight easing in the shortage of available transport capacities.
The transport volumes were on a par with the prior-year level, at 8,987 TTEU (9M 2021: 8,980 TTEU).
Revenues increased to US$ 28.4 billion (FJ$63.38 billion).
This can mainly be attributed to a significant increase in the average freight rate, to 2,938 USD/ TEU (9M 2021: 1,818 USD/ TEU), and a stronger US dollar.
Transport expenses climbed to US$10.8 billion (FJ$24.10 billion).
This was due in part to a significantly higher bunker consumption price, of USD$755 per tonne (FJ$1684.97), and higher expenses for container handling.
Overall, the strong business performance in the first nine months was in line with the forecast adjusted on 28 July 2022.
This also applies to the course of the fourth quarter to date.