Hapag-Lloyd weathers H1 well
The Hamburg-based carrier Hapag-Lloyd improved its financial result significantly in H1/2020, but lost volumes. While revenues rose by 2,5% to EUR 6.4 billion (EUR 6.2 billion in H1/2019), earnings before interest and taxes (ebit) surged by 14% to EUR 511 million, thereby surpassing the prior-year figure of USD 440 million (EUR 389 million).
The group’s profits improved to EUR 285 million (EUR 146 million in H1/2019). At the same time, earnings before interest, taxes, depreciation and amortisation (ebitda) rose to EUR 1.29 billion (EUR 1.17 billion). The main loss of volumes occurred in Q2/2020 (–11%).
Altogether, HL shipped about 5.8 million teu, in comparison to 5.97 million teu in H1/2019. Tight cost controls, declining bunker prices and slightly improved freight rates (USD 1,104 per teu on average) lead to the positive result. (mw)
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