DGAP-News: Hapag-Lloyd AG / Key word(s): Preliminary Results
Hapag-Lloyd significantly improves operating result in 2020
2021-01-27 / 07:27
The issuer is solely responsible for the content of this announcement.
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Hamburg, 27 January 2021
Hapag-Lloyd significantly improves operating result in 2020
- EBITDA and EBIT significantly higher despite the coronavirus pandemic
- Freight rate improved, transport volumes slightly below prior-year level
- Performance Safeguarding Program successfully implemented
On the basis of preliminary figures, Hapag-Lloyd's earnings before interest, taxes, depreciation and amortisation
(EBITDA) for the 2020 financial year increased to more than USD 3 billion (approximately EUR 2.7 billion). Earnings
before interest and taxes (EBIT) rose to around USD 1.5 billion (approximately EUR 1.3 billion). Both key figures are
therefore in line with the most recently published earnings forecast for the 2020 financial year. The main drivers of
these positive business developments have been improved freight rates and lower bunker prices as well as cost savings
of roughly USD 500 million resulting from the successful implementation of the Performance Safeguarding Program. The
EBIT also includes one-off expenses in Q4 2020 of around USD 140 million (approximately EUR 120 million), mainly
related to fleet optimisation.
Revenues increased in the 2020 financial year by roughly 3 percent, to USD 14.6 billion (approximately EUR 12.8
billion). This is caused by an improved average freight rate of 1,115 USD/TEU (2019: 1,072 USD/TEU) whereas transport
volumes were slightly below the level of the previous year at 11.8 million TEU (2019: 12.0 million TEU) or minus 1.6
per cent.
Hapag-Lloyd will publish its 2020 Annual Report with the audited financial figures and an outlook for the current
financial year on 18 March 2021.
Explanatory notes relating to the performance measures EBITDA and EBIT referred to herein can be found in the 2019
Annual Report:
https://www.hapag-lloyd.com/en/ir/publications/financial-report.html
PRELIMINARY KEY FIGURES (USD)
Q4 2020 Q4 2019 2020 2019 2020 versus
2019
Transport volume 3.1 3.0 11.8 12.0 -0.2
(TEU million)
Freight rate (USD/TEU) 1,163 1,062 1,115 1,072 43
Revenues (USD billion) 4.1 3.5 14.6 14.1 0.5
EBITDA (USD billion) 1.0 0.5 3.1 2.2 0.9
EBIT (USD billion) 0.5 0.2 1.5 0.9 0.6
PRELIMINARY KEY FIGURES (EURO)
Q4 2020 Q4 2019 2020 2019 2020 versus 2019 Revenues (EUR billion) 3.4 3.1 12.8 12.6 0.2 EBITDA (EUR billion) 0.9 0.5 2.7 2.0 0.7 EBIT (EUR billion) 0.5 0.2 1.3 0.8 0.5 Annual average exchange rate (USD/EUR) n.a. n.a. 1.14 1.12 0.02 End of period exchange rate (USD/EUR) n.a. n.a. 1.23 1.12 0.11
About Hapag-Lloyd With a fleet of 234 modern container ships and a total transport capacity of 1.7 million TEU, Hapag-Lloyd is one of the world's leading liner shipping companies. The Company has around 13,200 employees and 388 offices in 129 countries. Hapag-Lloyd has a container capacity of approximately 2.7 million TEU - including one of the largest and most modern fleets of reefer containers. A total of 121 liner services worldwide ensure fast and reliable connections between more than 600 ports on all the continents. Hapag-Lloyd is one of the leading operators in the Transatlantic, Middle East, Latin America and Intra-America trades. 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. Contact: Heiko Hoffmann Senior Director Investor Relations Hapag-Lloyd AG Ballindamm 25 20095 Hamburg Phone +49 40 3001-2896 Fax +49 40 3001-72896 Mobile +49 172 875-2126 -----------------------------------------------------------------------------------------------------------------------
2021-01-27 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de -----------------------------------------------------------------------------------------------------------------------
Language: English Company: Hapag-Lloyd AG Ballindamm 25 20095 Hamburg Germany Phone: +49 (0) 40 3001 - 2896 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: 1163496 End of News DGAP News Service =------------
1163496 2021-01-27
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January 27, 2021 01:28 ET (06:28 GMT)