Hapag-Lloyd Reports Stable First Quarter in 2024 Despite Challenges

Hapag-Lloyd AG started 2024 with solid financial performance in the first quarter, reporting a Group EBITDA of USD 942 million and a Group EBIT of USD 396 million. Although these figures reflect a decline from the previous year's record results, the company views the outcomes positively given the stabilization in demand and freight rates, as well as successful cost management efforts.

The Liner Shipping segment showed a 6.8% increase in transport volumes, reaching 3 million TEU. Despite significant cost increases due to rerouting ships around the Cape of Good Hope, the company effectively managed expenses to maintain profitability. The Terminal & Infrastructure segment, although newer and still stabilizing, contributed positively with an EBITDA of USD 35 million.

CEO Rolf Habben Jansen highlighted the strategic focus on decarbonization and maintaining high service quality. Looking ahead, Hapag-Lloyd provided a refined earnings forecast for 2024, expecting a Group EBITDA between USD 2.2 and 3.3 billion, influenced by volatile freight rates and geopolitical challenges.