Hapag-Lloyd Reports Positive Outcomes for Early 2024

Hapag-Lloyd AG announced favorable results for the first three quarters of 2024. Transport volume increased, with a significant 5% rise compared to the previous year, totaling 9.3 million TEU. Despite lower average freight rates earlier in the year, the company noted stronger demand and increased freight rates in the third quarter. Consequently, the Group's EBITDA reached USD 3.6 billion, though overall results were slightly below the prior year's performance.

In the Liner Shipping segment, revenues dipped by 2% due to a decrease in average freight rates. However, the Terminals & Infrastructure segment saw notable growth, with EBIT climbing to USD 56 million. CEO Rolf Habben Jansen emphasized both the challenges and successes, highlighting the company's focus on modernizing its fleet and expanding its terminal business.

Hapag-Lloyd raised its financial forecast for 2024, expecting EBITDA between USD 4.6 and 5.0 billion. However, the company remains cautious due to the volatile nature of freight rates and geopolitical uncertainties.