HAPAG-LLOYD reported a slight increase in Group operating result for 2024 but at USD 2.6 billion (EUR 2.4 billion), the Group profit was below that of the prior year, particularly owing to lower interest income and higher tax expenses.
Recently publishing its annual report in Europe, Hapag-Lloyd said Group EBITDA rose to USD 5.0 billion (EUR 4.6 billion), while he Group EBIT slightly improved compared to the prior year, to USD 2.8 billion (EUR 2.6 billion).
In the Liner Shipping segment, transport volumes for 2024 as a whole rose by 4.7%, to 12.5 million TEU (2023: 11.9 million TEU), although analysts have observed this indicate the carrier lost market share given industry-wide growth of 6.2%. The average freight rate remained stable at 1,492 USD/TEU (2023: 1,500 USD/TEU).
Revenues accordingly increased to USD 20.3 billion (EUR 18.8 billion). Despite higher transport expenses in connection with the necessary rerouting of ships around the Cape of Good Hope, the EBITDA increased to USD 4.9 billion (EUR 4.5 billion), while the EBIT remained at the prior-year level of USD 2.7 billion (EUR 2.5 billion).
The Terminal & Infrastructure segment recorded an improvement in its EBITDA in the 2024 financial year, to USD 151 million (EUR 139 million) – particularly owing to several acquisitions in the course of the previous financial year. The EBIT increased to USD 72 million (EUR 66 million).
“In a challenging market environment, we achieved solid results and further increased customer satisfaction,” CEO Rolf Habben Jansen said.
“We have further consolidated and expanded our terminal business under the Hanseatic Global Terminals brand.
“We have worked hard to further improve processes which will yield results in the years to come and stepped up our investments in digitalization and training of our people.
“Finally, we launched the largest newbuild program in our company’s history, which will enable us to further modernize and decarbonize our fleet,” Mr Habben Jansen said.
Based on these earnings, the Executive Board and Supervisory Board of Hapag-Lloyd AG will propose to the Annual General Meeting a dividend of EUR 8.20 per share for the 2024 financial year – this corresponds to a total payout of EUR 1.4 billion, which once again makes the Hapag-Lloyd share one of the most attractive German dividend-bearing stocks.
For the 2025 financial year, the Executive Board expects the Group EBITDA to be in the range of USD 2.5 to 4.0 billion (EUR 2.4 to 3.9 billion) and the Group EBIT to be in the range of USD 0.0 to 1.5 billion (EUR 0.0 to 1.5 billion). This outlook remains subject to considerable uncertainty due to the highly volatile development of freight rates and major geopolitical challenges.
“In 2025 we are off to a very good start with Gemini, but the economic and geopolitical environment remains fragile,” Mr Habben Jansen said. “In this context, we anticipate earnings in 2025 to be lower than in 2024.
“In the first half of the current year, we will implement our Gemini network and expect to set new standards in terms of schedule reliability. We will continue to develop Hanseatic Global Terminals and await to further grow our inland business. At the same time, we will keep a very close eye on our unit costs and focus on becoming even more efficient and climate-friendly,” Mr Habben Jansen said.
