Hapag-Lloyd AG
ISIN: DE000HLAG475
WKN: HLAG47
14 November 2024 07:29AM

EQS-News: Hapag-Lloyd achieves good result in first three quarters of 2024 

Hapag-Lloyd AG · ISIN: DE000HLAG475 · EQS - Company News
Country: Germany · Primary market: Germany · EQS NID: 2029633

EQS-News: Hapag-Lloyd AG / Key word(s): 9 Month figures
Hapag-Lloyd achieves good result in first three quarters of 2024 

14.11.2024 / 07:29 CET/CEST
The issuer is solely responsible for the content of this announcement.


Hapag-Lloyd achieves good result in first three quarters of 2024 

  • Year-on-year increase in transport volume
  • Stronger demand and higher freight rate, particularly in the third quarter
  • Earnings forecast raised in October
  • Strategy 2030: Continued focus on growth and quality

Hapag-Lloyd concluded the first nine months of 2024 with a Group EBITDA of USD 3.6 billion (EUR 3.3 billion). The Group EBIT stood at USD 1.9 billion (EUR 1.8 billion) and the Group profit at USD 1.8 billion (EUR 1.7 billion). In view of lower freight rates in the first half of the year 2024 and increased transport expenses due to the rerouting of ships around the Cape of Good Hope, these results are below the prior-year level, as expected. However, stronger demand and higher freight rates in the third quarter led to a significant increase in earnings compared to the previous quarters of 2024.

In the Liner Shipping segment, the transport volumes increased in the first nine months of 2024 by 5 percent compared to the prior-year period, to 9.3 million TEU (9M 2023: 8.9 million TEU). Segment revenues fell by 2 percent, to USD 15,0 billion (EUR 13.8 billion), in particular due to a lower average freight rate of USD 1,467/TEU compared to the same period last year (9M 2023: USD 1,604/TEU). The EBITDA decreased to USD 3.5 billion (EUR 3.2 billion). The EBIT fell to USD 1.9 billion (EUR 1.7 billion).

The Terminals & Infrastructure segment recorded a significant increase in sales and earnings in the first nine months of 2024. The EBITDA rose to USD 114 million (EUR 105 million) and the EBIT to USD 56 million (EUR 51 million). Since the segment was founded in the second half of 2023, the results are only comparable with the prior-year figures to a limited extent.

“The first nine months of 2024 were marked by unexpectedly strong demand. Despite the tense security situation in the Red Sea and the associated rerouting of ships, we were able to further increase our transport volume compared to the previous year and can look back on a good result overall. At the same time, we have commissioned an extensive newbuild program for 24 ships, with which we will further modernize and decarbonize our fleet and thereby secure our long-term competitiveness. In addition, we have made good progress in building up our terminal business under the Hanseatic Global Terminals brand. Looking ahead, we will continue to vigorously implement our Strategy 2030 while focusing on our growth and quality targets,” said Rolf Habben Jansen, CEO of Hapag-Lloyd AG.

In view of the recent higher-than-expected demand and improved freight rates – and despite increased transport expenses – the Executive Board raised its forecast for the current financial year on October 24, 2024. The Group EBITDA is expected to be in the range of USD 4.6 to 5.0 billion (EUR 4.2 to 4.6 billion) and the Group EBIT to be in the range of USD 2.4 to 2.8 billion (EUR 2.2 to 2.6 billion). Given the highly volatile development of freight rates and persistent major geopolitical challenges, this forecast remains subject to uncertainty.

The financial report of the first nine month of 2024 is available online at:
https://www.hapag-lloyd.com/en/company/ir/publications/financial-report.html


KEY FIGURES (USD)* 

  9M 2024 9M 2023 9M 2024 versus
9M 2023
Group
Revenues (USD million) 15,283 15,312 -29
EBITDA (USD million) 3,592 4,520 -928
EBIT (USD million) 1,939 2,988 -1,049
EBITDA margin 24% 30% -6 Ppt
EBIT margin 13% 20% -7 Ppt
Group profit (USD million) 1,833 3,424 -1,591
Liner Shipping Segment
Transport volume (TTEU) 9,323 8,916 407
Freight rate (USD/TEU) 1,467 1,604 -137
Revenues (USD million) 14,988 15,230 -241
EBITDA (USD million) 3,478 4,481 -1,003
EBIT (USD million) 1,884 2,960 -1,076
Terminal & Infrastructure Segment
Revenues (USD million) 327 92 235
EBITDA (USD million) 114 40 75
EBIT (USD million) 56 28 27


KEY FIGURES (EURO)*

  9M 2024 9M 2023 9M 2024 versus
9M 2023
Group
Revenues (EUR million) 14,061 14,136 -75
EBITDA (EUR million) 3,305 4,173 -868
EBIT (EUR million) 1,784 2,759 -974
Group profit (EUR million) 1,687 3,161 -1,475
Liner Shipping Segment
Revenues (EUR million) 13,790 14,060 -270
EBITDA (EUR million) 3,200 4,137 -937
EBIT (EUR million) 1,733 2,733 -999
Terminal & Infrastructure Segment
Revenues (EUR million) 301 85 216
EBITDA (EUR million) 105 37 69
EBIT (EUR million) 51 26 25

* In individual cases, rounding differences may occur in the tables for computational reasons. With the acquisition of SAAM Ports S.A. and SAAM Logistics S.A. (jointly referred to as “SAAM Terminals”) on August 1, 2023, the associated equity stakes were incorporated into the Hapag-Lloyd Group and consequently into the Terminal & Infrastructure segment. As a result, the figures in the results of the Terminal & Infrastructure segment for the nine-month period of 2024 can only be compared with the previous year’s figures to a limited extent.
 

About Hapag-Lloyd
With a fleet of 292 modern container ships and a total transport capacity of 2.3 million TEU, Hapag-Lloyd is one of the world’s leading liner shipping companies. In the Liner Shipping segment, the Company has around 13,700 employees and 399 offices in 139 countries. Hapag-Lloyd has a container capacity of 3.4 million TEU – including one of the largest and most modern fleets of reefer containers. A total of 113 liner services worldwide ensure fast and reliable connections between more than 600 ports on all the continents. In the Terminal & Infrastructure segment, Hapag-Lloyd has equity stakes in 20 terminals in Europe, Latin America, the United States, India and North Africa. 3,000 employees are assigned to the Terminal & Infrastructure segment and provide complementary logistics services at selected locations in addition to the terminal activities.

Disclaimer
This press release contains forward-looking statements that involve a number of risks and uncertainties. Such statements are based on a number of assumptions, estimates, projections or plans that are inherently subject to significant risks, uncertainties and contingencies. Actual results can differ materially from those anticipated in the Company’s forward-looking statements.


Press contacts
Nils.Haupt@hlag.com +49 40 3001-2263
Tim.Seifert@hlag.com +49 40 3001-2291

Contact for investors
Alexander.Drews@hlag.com +49 40 3001-3705


14.11.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: Hapag-Lloyd AG
Ballindamm 25
20095 Hamburg
Germany
Phone: +49 (0) 40 3001 – 3705
Fax: +49 (0) 40 3001 - 72896
E-mail: ir@hlag.com
Internet: www.hapag-lloyd.com
ISIN: DE000HLAG475
WKN: HLAG47
Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 2029633

 
End of News EQS News Service

2029633  14.11.2024 CET/CEST

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Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.

The most important financial data at a glance
  2018 2019 2020 2021 2022 2023 2024e
Sales1 11.515,10 12.607,90 12.772,40 22.273,50 34.542,70 17.929,50 15.400,00
EBITDA1,2 1.138,10 1.985,80 2.700,40 10.852,60 19.428,70 4.461,00 4.490,00
EBITDA-Margin3 9,88 15,75 21,14 48,72 56,25 24,88 29,16
EBIT1,4 443,00 811,40 1.315,20 9.389,80 17.524,50 2.531,70 2.420,00
EBIT-Margin5 3,85 6,44 10,30 42,16 50,73 14,12 15,71
Net Profit (Loss)1 46,00 373,40 935,40 9.085,00 17.042,60 2.950,60 2.100,00
Net-Margin6 0,40 2,96 7,32 40,79 49,34 16,46 13,64
Cashflow1,7 1.072,90 2.028,20 2.897,90 10.410,00 19.503,30 4.966,00 0,00
Earnings per share8 0,21 2,06 5,27 51,63 96,89 16,70 11,95
Dividend per share8 0,15 1,10 3,50 35,00 63,00 9,25 0,00
Quelle: boersengefluester.de and Company information
Explanation

1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de

Auditor: KPMG

All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.

INVESTOR-INFORMATION
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Hapag-Lloyd
WKN ISIN Legal Type Marketcap IPO Recommendation Plus Code
HLAG47 DE000HLAG475 AG 26.979,21 Mio € 06.11.2015 9F5FHX3X+95
* * *
PE 2025e PE 10Y-Ø BGFL-Ratio Shiller-PE PB PCF KUV
11,81 14,58 0,81 8,90 1,58 5,43 1,50
Dividends
Dividend '2022
in €
Dividend '2023
in €
Dividend '2024e
in €
Div.-Yield '2024e
in %
63,00 9,25 0,00 0,00%
Financial calendar
Annual General Meeting Q1-figures Q2-figures Q3-figures Annual press conference
30.04.2024 14.05.2025 14.08.2025 14.11.2024 20.03.2025
Performance
Distance 60-days-line Distance 200-days-line Performance YtD Performance 52 weeks IPO
Last Price (EoD)
+2,33%
153,50 €
ATH 474,60 €
-2,58% -1,35% +13,70% +4,07% +667,50%

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