
HHLA Reports Positive Development in the First Half of 2022
Aug 11, 2022 at 8:08 AM
Austrian Post Faces Challenging First Half of 2022
Aug 11, 2022 at 4:53 PMHapag-Lloyd concluded the first half of 2022 with an EBITDA of 10.9 billion US dollars (10 billion euros). EBIT grew to 9.9 billion US dollars (9.1 billion euros). The consolidated net income improved to 9.5 billion US dollars (8.7 billion euros). In certain trade areas, there are signs of a softening of rates.
(Hamburg) “We have benefited from significantly better freight rates and overall look back on an exceptionally strong business performance in the first half of the year. At the same time, a sharp increase in all cost categories is putting pressure on our unit costs,” said Rolf Habben Jansen, CEO of Hapag-Lloyd AG.
Revenue increased in the first half of 2022 to 18.6 billion US dollars (17 billion euros), particularly due to a significantly higher average freight rate of 2,855 USD / TEU (H1 2021: 1,612 USD / TEU) and a stronger US dollar.
Due to ongoing capacity bottlenecks in ports and overloaded hinterland infrastructures, global supply chains remain significantly under pressure. This continues to lead to above-average long turnaround times for ships and containers. Overall, the transport volume in the first half of 2022 was around 6 million TEU, at the level of the previous year. Significantly higher expenses for container handling, chartered ships, and an increase in the average bunker consumption price of 67 percent to 703 USD / t (H1 2021: 421 USD / t) had a negative impact on results.
The second half should also exceed expectations
Based on the current business performance, the second half is also expected to exceed previous expectations. In this context, the Executive Board of Hapag-Lloyd AG raised the earnings forecast for the current financial year on July 28. For 2022, an EBITDA in the range of 19.5 to 21.5 billion US dollars (18.2 to 20.1 billion euros) and an EBIT in the range of 17.5 to 19.5 billion US dollars (16.3 to 18.2 billion euros) is expected. However, given the war in Ukraine, the ongoing disruptions in global supply chains, and the effects of the COVID-19 pandemic, the forecast is subject to high uncertainties.
After the peak season, the situation in the supply chains should ease
“We are currently seeing initial signs in some trade areas that short-term rates in the market are easing. Nevertheless, we expect a strong second half. After this year’s peak season, the currently tense situation in global supply chains should improve. Our customers can continue to rely on us to do everything possible to transport their goods smoothly to their destination. Our quality and sustainability goals remain in focus, as does the consistent implementation of our Strategy 2023,” said Rolf Habben Jansen.
The financial report for the first half of 2022 is available here
Photo: © Hapag-Lloyd




