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Feb 16, 2021 at 7:09 PMThe shipping company Hapag-Lloyd has a special announcement and continues to report an exceptionally strong demand for container transport. Freight rates remain high at the beginning of the year. Due to these circumstances, Hapag-Lloyd expects an EBITDA and EBIT for 2021 that will be significantly above the previous year’s level.
(Hamburg) Hapag-Lloyd has started the year very well thanks to an exceptionally high demand for container transport, which has led to a significantly higher level of freight rates. Based on preliminary business figures for the month of January and the current business situation, the management board of Hapag-Lloyd AG expects that the key figures EBITDA and EBIT will be significantly above the values of the previous year for the first quarter of 2021. An EBITDA of at least 1.8 billion USD (at least 1.5 billion EUR) is currently expected, compared to an EBITDA of 517 million USD (469 million EUR) in Q1 2020. For EBIT, the management board of Hapag-Lloyd AG currently expects at least 1.5 billion USD (at least 1.25 billion EUR) compared to 176 million USD (160 million EUR) in Q1 2020.
Significantly above the previous year’s level also expected for the entire year
The management board of Hapag-Lloyd AG also expects that EBITDA and EBIT will be significantly above the previous year’s level for the entire business year 2021. However, given the currently above-average high volatility of freight rates, operational challenges due to existing infrastructural bottlenecks, as well as the unpredictable further course of the coronavirus pandemic and its economic impacts, the annual forecast is associated with significant uncertainties.
“We will look forward to a very strong result in the first quarter, but we expect a normalization in the course of the year. We still see slow container turnaround times, significant congestion in ports around the globe, capacity bottlenecks in rail and truck transport, and the risks of the coronavirus pandemic remain. Nevertheless, we also expect a result significantly above the previous year’s value for the entire year 2021. At the same time, we will keep our employees in focus, serve our customers as best as possible, and continue to implement our Strategy 2023,” said Rolf Habben Jansen, CEO of Hapag-Lloyd.
Photo: © Hapag-Lloyd
