Merger of Hapag-Lloyd with UASC bears fruit
The Hamburg-based carrier Hapag-Lloyd achieved a more satisfactory result in 2018 than in previous years. On the basis of preliminary and unaudited figures, its Ebitda surged by almost 8% to EUR 1.14 billion (2017: EUR 1.05 billion). Ebit rose by 7.2% to EUR 443 million (2017: EUR 411 million).
Hapag-Lloyd said: "The main drivers are higher global transport volumes, steadily improving freight rates in H2/2018, the merger with United Arab Shipping Company (UASC), and the resulting cost synergies.”
Compared to the combined business of Hapag-Lloyd and UASC for the full year 2017, transport volumes increased by 6% and the average freight rate was up 2%. In total, 11.87 million teu were handled. The consolidated financial statements and the 2018 annual report will be published on 22 March 2019. (kd)