Hapag-Lloyd Revises Earnings Outlook for 2024, Reports Preliminary H1 Figures

Hapag-Lloyd AG has revised its earnings forecast for 2024 and released preliminary figures for the first half of the year. The German shipping giant achieved a Group EBITDA of approximately EUR 1.8 billion, down from EUR 3.5 billion the previous year, and Group EBIT of about EUR 0.8 billion, compared to EUR 2.6 billion in 2023. When converted to US dollars, EBITDA stands at around USD 2.0 billion, and EBIT at approximately USD 0.9 billion.

Increased demand and higher short-term freight rates have driven an upward revision of the earnings outlook. The company now anticipates full-year Group EBITDA to be between EUR 3.2 to 4.2 billion and Group EBIT to range from EUR 1.2 to 2.2 billion. In USD terms, this translates to an EBITDA of USD 3.5 to 4.6 billion and EBIT of USD 1.3 to 2.4 billion.

Final results for the first half of 2024 will be released on August 14, 2024. The forecast, however, remains uncertain due to volatile freight rates and geopolitical challenges.