Hapag-Lloyd posts lower 2025 profit, proposes dividend of 3 euros per share

Hapag-Lloyd reported lower earnings in 2025 as weaker freight rates and higher operating costs weighed on results, although the carrier said volumes grew and performance came in at the upper end of its guidance. The company also said it will propose a dividend of 3 euros per share for the year.

The German liner operator posted group EBITDA of USD 3.6 billion and EBIT of USD 1.1 billion in 2025, while group profit totaled USD 1.0 billion. That was down from the previous year, as average freight rates declined and costs rose amid tariff-related disruptions, Red Sea security tensions, Gemini network start-up expenses and port congestion.

In its core liner shipping business, Hapag-Lloyd increased revenue to USD 20.6 billion, while transport volume rose 8% to 13.5 million TEU. The average freight rate, however, fell 8% to USD 1,376 per TEU, reflecting growing capacity and trade imbalances, according to the company.

Hapag-Lloyd said the rollout of its Gemini network helped lift volumes and delivered 90% schedule reliability, while related cost savings began to emerge in the second half of 2025 and are expected to be fully realized in 2026.

The company’s Terminal & Infrastructure segment posted revenue of USD 514 million, supported by new terminal acquisitions and higher throughput tied to synergies with the liner business. EBITDA in the segment was stable at USD 152 million, while EBIT slipped to USD 66 million due to operational challenges and ramp-up costs.

Based on the 2025 results, Hapag-Lloyd’s executive and supervisory boards will propose a dividend payout totaling about EUR 0.5 billion, equivalent to EUR 3.00 per share.

For 2026, the company forecast group EBITDA in a range of USD 1.1 billion to USD 3.1 billion and EBIT between negative USD 1.5 billion and positive USD 0.5 billion, citing continued uncertainty tied to freight-rate volatility and the conflict in the Middle East. CEO Rolf Habben Jansen said adverse weather early in the year and mounting network disruptions linked to the regional conflict were driving up operating costs, and that earnings in 2026 are expected to fall below 2025 levels.

Source: Hapag-LLoyd

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