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Hapag to earn almost $16bn in 2022 on bullish outlook

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Logistics Update Africa News
Hapag to earn almost $16bn in 2022 on bullish outlook

 German carrier Hapag-Lloyd has increased its 2022 financial outlook to an EBITDA of $14.5-16.5 billion (from an earlier estimate of $12-14 billion) and an EBIT of $12.5-14.5 billion ($10-12 billion) based on Q12022 performance and the view that the second quarter will exceed expectations. Hapag reported an EBITDA of $5.3 billion and EBIT of $4.8 billion on revenue of $9 billion due to the 84 percent increase in average freight rate($2,774/TEU compared to $1,509/TEU in Q12021) and a strong US dollar, according to an official statement. 


"The year has got off to an exceptionally strong start on the whole, and whilst there have been first signs that the market has passed its peak we also expect a strong second quarter," says Rolf Habben Jansen, CEO, Hapag-Lloyd AG. Many ports are still congested, and hinterland infrastructures are strained, which together is resulting in longer turnaround times for ships and containers, the statement added. "Overall, transport volumes were roughly on a par with the prior-year level at 3 TEU."


The result was impacted by significantly increasing expenses for container handling and a roughly 60 percent higher average bunker consumption price at $613 per tonne ($384 per tonne in Q12021). "Global supply chains continue to be under significant pressure – not least because of the recent measures taken in China in response to Covid-19 outbreaks. This situation is expected to improve in the second half of the year. For our customers worldwide, we will do everything in our power to help normalise this difficult market environment as quickly as possible. At the same time, we will continue to focus on quality and sustainability and further implement our Strategy 2023," Jansen added.


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