DGAP-News: Hapag-Lloyd AG: Result significantly up in the first quarter

2019. május 09., csütörtök, 07:30





DGAP-News: Hapag-Lloyd AG / Key word(s): Quarter Results


Hapag-Lloyd AG: Result significantly up in the first quarter


09.05.2019 / 07:30



The issuer is solely responsible for the content of this announcement.



Hamburg, 9 May 2019



Result significantly up in the first quarter


Hapag-Lloyd closed the first quarter of 2019 with a significantly higher operating profit as Earnings before interest and taxes (EBIT) increased to EUR 214 million (Q1 2018: EUR 51 million). The Group net result increased to EUR 96 million (Q1 2018: EUR -34 million). Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to EUR 489 million (Q1 2018: EUR 216 million), also impacted by the first-time application of the reporting standard IFRS 16.



"Thanks to higher transport volumes, better freight rates and a stronger US dollar, we achieved a good result and got the year off to a very decent start," said Rolf Habben Jansen, Chief Executive Officer of Hapag-Lloyd.



Revenues in the first quarter increased by 17% to EUR 3.1 billion (Q1 2018: EUR 2.6 billion) and transport volume rose 2% to 2,929 TTEU (Q1 2018: 2,861 TTEU). The average freight rate improved to 1,079 USD/TEU (Q1 2018: 1,029 USD/TEU), and the result was also positively influenced by a stronger average exchange rate of 1.14 USD/EUR (Q1 2018: 1.23 USD/EUR). In contrast, higher bunker prices of USD 425 per tonne had a negative impact on the quarterly result (Q1 2018: USD 372 per tonne).



Rolf Habben Jansen: "We are cautiously optimistic about 2019 despite slightly dampened forecasts for global economic growth and higher fuel prices. Q1 was in line with our expectations and we believe we can make further progress towards our strategic objectives throughout the rest of the year as we continue to roll-out and implement our Strategy 2023."



The report for the first quarter is available online at:

https://www.hapag-lloyd.com/en/ir/publications/financial-report.html




KEY FIGURES (EURO)*







































  Q1 2019 Q1 2018 Q1 2019 vs Q1 2018
Transport volume

(TTEU)
2,929 2,861 68
Freight rate (USD/TEU) 1,079 1,029 50
Revenues

(EUR million)
3,063 2,620 443
EBITDA

(EUR million)
489 216 273
EBIT (EUR million) 214 51 163
EBITDA margin 16.0 8.3 7.7
EBIT margin 7.0 1.9 5.1
Group net result (EUR million) 96 -34 131

 

KEY FIGURES (USD)*































  Q1 2019 Q1 2018 Q1 2019 vs Q1 2018
Revenues

(USD million)
3,478 3,221 257
EBITDA (USD million) 556 266 290
EBIT (USD million) 243 62 181
Group net result

(USD million)
109 -42 151
Annual average exchange rate (USD/EUR) 1.14 1.23 -0.09
Exchange rate

(USD/EUR) on 31 March 2019
1.12 1.23 -0.11

* Due to the first-time application of the reporting standard IFRS 16 as of 1 January 2019, the results of the first quarter of 2019 (including first-time application of IFRS 16) can only be compared to a limited extent with the results of the first quarter of 2018 (excluding first-time application of IFRS 16). In individual cases, rounding differences may occur in the tables for computational reasons.




About Hapag-Lloyd

With a fleet of 235 modern container ships and a total transport capacity of 1.7 million TEU, Hapag-Lloyd is one of the world"s leading liner shipping companies. The Company has around 12,800 employees and 398 offices in 128 countries. Hapag-Lloyd has a container capacity of approximately 2.5 million TEU - including one of the largest and most modern fleets of reefer containers. A total of 121 liner services worldwide ensure fast and reliable connections between more than 600 ports on all the continents. Hapag-Lloyd is one of the leading operators in the Transatlantic, Middle East, Latin America and Intra-America trades.




Disclaimer

This press release contains forward-looking statements that involve a number of risks and uncertainties. Such statements are based on a number of assumptions, estimates, projections or plans that are inherently subject to significant risks, uncertainties and contingencies. Actual results can differ materially from those anticipated in the Company"s forward-looking statements.

 


Contact:

Heiko Hoffmann

Senior Director Investor Relations


Hapag-Lloyd AG

Ballindamm 25

20095 Hamburg

Phone +49 40 3001-2896

Fax +49 40 3001-72896

Mobile +49 172 875-2126














09.05.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: Hapag-Lloyd AG

Ballindamm 25

20095 Hamburg

Germany
Phone: +49 (0) 40 3001 - 2896
Fax: +49 (0) 40 3001 - 72896
E-mail: ir@hlag.com
Internet: www.hapag-lloyd.com
ISIN: DE000HLAG475
WKN: HLAG47
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 808903





 
End of News DGAP News Service





808903  09.05.2019 



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