Based on a better-than-expected business performance in the current fourth quarter, Hapag-Lloyd has raised its earnings forecast for the group updated in October.
For the 2020 financial year, earnings before interest, taxes, depreciation and amortisation (EBITDA) of EUR 2.6 to 2.7 billion (previously EUR 2.4 to 2.6 billion) and earnings before interest and taxes (EBIT) of EUR 1.25 to 1.35 billion (previously EUR 1.1 to 1.3 billion) are now expected. The new EBIT range includes impairments of approximately EUR 100 million, particularly arising in connection with a planned optimisation of the vessel portfolio. The measures were not factored into the previous earnings forecast.
“In the fourth quarter market demand for container capacities has continued to be surprisingly strong and today we are deploying every available ship. Additionally, we are on track with the cost savings from our ‘Performance Safeguarding Program’,” said CEO Rolf Habben Jansen.
“Given these circumstances, the results of the current financial year will exceed our previous forecasts,” he added.
