Hapag-Lloyd forecasts very strong Q1 earnings

The year 2021 has been a very good year for Hapag-Lloyd due to the exceptionally strong demand for container shipping, which has raised freight rates. Based on preliminary business figures for the month of January and the current business situation, Hapag-Lloyd’s Executive Board expects the EBITDA and EBIT performance indicators for the first quarter of 2021 to be significantly higher than in the same period last year. EBITDA is currently estimated to be at least US$ 1.8 billion (at least EUR 1.5 billion) compared to US$ 517 million (EUR 469 million) in the first quarter of 2020. For EBIT, Hapag’s Executive Board, Lloyd AG, currently expects at least US$ 1.5 billion (at least EUR 1.25 billion) compared to US$ 176 million (EUR 160 million) in the first quarter of 2020.

In addition, Hapag-Lloyd’s Executive Board expects EBITDA and EBIT for the 2021 business year as a whole to clearly exceed the previous year’s level. However, the forecast for the year is subject to considerable uncertainty due to a number of factors, including the above-average volatility of freight rates at this time; operational challenges caused by existing infrastructure bottlenecks, among others; and the inability to predict the future course or economic impacts of the coronavirus pandemic.

“We will see a very strong profit in the first quarter, but we expect normalization throughout the year. We are still seeing delays in container deliveries, significant congestion at ports around the world, capacity restrictions on trains and trucks, and the risks of the coronavirus pandemic remain. However, we also expect the result for 2021 as a whole to be significantly higher than the previous year’s level. At the same time, we will continue to maintain our focus on our employees, serving our customers as best we can, and implementing our 2023 Strategy, ”said Rolf Habben Jansen, CEO of Hapag-Lloyd.

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