HAPAG-LLOYD has reported a group profit of almost US$9.5 billion for the first half 2022, up US$6.2 billion on the first half of last year, a 188% increase.
However, transport volumes in the first half of this year were on par with those of the first half of 2021, at approximately 6 million TEU.
The company concluded the first half of 2022 with an EBITDA of US$10.9 billion. The EBIT rose to US$9.9 billion.
“We have benefitted from significantly improved freight rates and look back on an extraordinarily strong business performance on the whole in the first half year,” Hapag-Lloyd CEO Rolf Habben Jansen said.
“At the same time, a steep rise in all cost categories is putting increased pressure on our unit costs.”
The company said higher expenses for container handling and charter ships impacted the results, as did a 67% increase in the average bunker consumption price, to US$703 per tonne.
In the first half of 2021, average bunker consumption price was at US$421 per tonne.
Hapag-Lloyd said, based on current business performance, the second half of this year is “likely to exceed previous expectations”.
The company’s executive board raised its earnings forecast for the current financial year on 28 July.
For the 2022 financial year Hapag-Lloyd anticipates an EBITDA of between US$19.5 billion and US$21.5 billion and an EBIT of between US$17.5 billion and US$19.5 billion.
However, the company said the forecast may be influenced by uncertainty caused by the war in Ukraine, ongoing supply chain disruptions and the impacts of COVID-19.
“We are currently seeing the first signs in some trade lanes that spot rates are easing in the market,” Mr Habben Hansen said.
“Nevertheless, we are expecting a strong second half of the year. The currently still strained situation in the global supply chains should improve after this year’s peak season.”
