Hapag-Lloyd raises earnings projections for financial year 2020

Hapag-Lloyd has raised its earnings projections in October based on better-than-expected business performance in the current fourth quarter.

For the financial year 2020, earnings before interest, taxes, depreciation, and amortization (EBITDA) are projected at EUR 2.6 to 2.7 billion, whereas previously it was believed to reach a value between EUR 2.4 to 2, 6 billion. Meanwhile, for earnings before interest and taxes (EBIT), EUR 1.25 to 1.35 billion is expected (previously between 1.1 and 1.3 billion euros).

According to Rolf Habben Jansen, CEO of Hapag-Lloyd, “also in the fourth quarter, the market demand for container capacity remained surprisingly strong and today we are using all available ships. In addition, we are on the right track with cost savings from our Performance Protection Program. Given these circumstances, this year’s results will exceed our previous projections”.

In addition, “in light of the global pandemic, we will continue to closely monitor the safety and well-being of our employees, as well as our customers’ supply chains, but the continued implementation of our 2023 Strategy will also remain an integral part of our agenda”, concluded the CEO of Hapag-Lloyd.

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