Shipping major Hapag-Lloyd has posted a significant increase in first half results on the back of continued high demand for container transport.
Based on preliminary figures, the line expects an Ebitda of approximately US$4.2 billion compared to around US$1.3 billion in the same period last year. Ebit is estimated at around US$3.5 billion compared to US$0.6 billion in the first half of 2020.
Global demand for container transport remains high - although operational disruptions along the entire supply chain continue to cause significant delays, contributing to the shortage of transport capacity, says CEO Rolf Habben Jansen.
The line therefore expects earnings momentum to remain strong in the second half of the financial year. Previously, a gradual normalisation of the earnings trend had been expected.
Given these circumstances, the executive board has raised its earnings outlook for the 2021 financial year, with Ebitda expected to be in the range of US$9.2 to 11.2 billion and Ebit in the range of US$7.5 to 9.5 billion.
“We also benefited from better freight rates in the second quarter and are looking at a very strong first half-year overall. At the same time, since we firmly expect this momentum to carry over into the second half of the year, we have raised our earnings forecast for 2021 as a whole.”