Hapag-Lloyd attributed the rise in results to high freight rates and a stronger dollar.
Hapag-Lloyd announced its first-quarter results today (May 12), describing itself as “extraordinarily strong”.
During the reporting period, Hapag-Lloyd achieved operating income of US$8.96 billion, a year-on-year increase of 82.6%; earnings before interest, taxes, depreciation and amortization (EBITDA) of US$5.31 billion, a year-on-year increase of 177.9%; earnings before interest and taxes (EBIT) of US$4.79 billion, a year-on-year increase of 211.2%; and net profit of US$4.68 billion, a year-on-year increase of 222.8%.
During the reporting period, Hapag-Lloyd's average freight rate reached US$2,774/TEU, compared with US$1,509/TEU in the same period last year, an increase of 83.8%. In addition, the cargo volume remained the same as the same period last year, at 3 million TEU.
Hapag-Lloyd attributed the rise in results to high freight rates and a stronger dollar.
"We have had an exceptionally strong start to the year and despite initial signs that the market has peaked, we still expect a strong second quarter," said CEO Rolf Habben Jansen.
He further analyzed that the global supply chain continues to be under great pressure, but the situation is expected to improve in the second half of the year. Hapag-Lloyd will do its utmost to help customers overcome various difficulties, while continuing to improve service quality and further implement the 2023 strategy.
Based on performance exceeding expectations, Hapag-Lloyd has raised its earnings forecast for 2022. Full-year EBITDA is expected to reach US$14.5 billion to US$16.5 billion, and EBIT is expected to be US$12.5 billion to US$14.5 billion.
However, Hapag-Lloyd also stated that given the ongoing epidemic and the impact of the Russia-Ukraine conflict, this forecast still has great uncertainty.
Original text: https://mp.weixin.qq.com/s/RxL_RirdFehC9vbxUK2ZxQ
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