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Hapag-Lloyd does well in Q3

On the basis of preliminary figures, Hapag-Lloyd’s earnings before interest and taxes (EBIT) for the third quarter 2020 significantly increased to around EUR 350 million (2019: EUR 253 million). Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to around EUR 650 million (2019: EUR 554 million). Volumes were 3 per cent under previous year, but much better than expected some months ago.

The main drivers of the positive business developments have been significantly higher demand and respectively higher transport volumes, and rigorous cost and revenue management predominately driven by the company´s Performance Safeguarding Program (PSP), which was set up in the first quarter of 2020.

Due to the positive development in Q3, Hapag-Lloyd has updated its EBITDA and EBIT guidance. It now expects an EBIT of EUR 1.1 to 1.3 billion and an EBITDA of EUR 2.4 to 2.6 billion, said a release.


Source: Exim News Service: Hamburg, Oct. 15


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