HAPAG-LLOYD’s sturdy fourth quarter helped its 2024 results to slightly higher or roughly even levels, according to results released in Hamburg overnight.
On the basis of preliminary and unaudited figures, Hapag-Lloyd achieved a Group EBITDA of USD 5.0 billion (EUR 4.6 billion) in the 2024 financial year. The Group EBIT also slightly improved compared to the prior year, to USD 2.8 billion (EUR 2.6 billion).
“Both key figures are in the upper range of the adjusted earnings forecast published in October 2024,” the carrier said. “The increases can primarily be attributed to higher transport volumes combined with a stable average freight rate, which stood at 1,492 USD/TEU and thereby remained at the prior-year level (2023: 1,500 USD/TEU).
“Revenues rose to USD 20.7 billion (EUR 19.1 billion), particularly owing to stronger demand for container transports. Transport volumes increased by roughly 5%, to 12.5 million TEU – despite the rerouting of ships via the Cape of Good Hope due to the security situation in the Red Sea and the associated longer voyage times.”
Hapag-Lloyd’s fourth-quarter results, meanwhile, showed significant improvement over Q4 23.
Volume rose only from 3 million TEU to 3.1 million TEU, but there was a substantial lift in average freight rate from USD 1,190/TEU in 4Q 2023 to USD 1564/TEU in 4Q last year. This boosted revenue from USD 4.1 billion to USD 5.4 billion, and EBITDA soared 366% to USD 1.4 billion. EBIT rose from negative USD 0.3 billion to USD 0.8 billion.
Hapag-Lloyd will publish its 2024 Annual Report with the audited financial figures and an outlook for the current financial year on 20 March 2025.
