HL shows steady performance in 2020
As forecast, the Hamburg shipping company Hapag-Lloyd achieved revenues of USD 10.5 billion after the first nine months of the year, almost on par (-1%) with the same period in 2019.
Yet, ebitda climbed by 20.4% to more than USD 2 billion. While ebit rose by a significant 33.6% to USD 965 million, the group's net result took a leap of 44.9% to USD 605 million over the previous year (USD 333 million).
The average freight rate was up 2%, to 1,097 USD/teu (9M/2019: 1,075 USD/teu), while transport expenses decreased more than proportionately by 6%, due to lower transport volumes, a lower average bunker price of USD 402 per metric tonne (9M 2019: USD 425 per tonne) and "a rigorous cost management", as HL said in a press release. The carrier is running a so-called "performance safeguarding programme (PSP)“. (cd)