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Hapag-Lloyd raises 2020 forecast amid strong market

October 15, 2020


German liner company Hapag-Lloyd said the performance of the container shipping market in the third quarter of 2020 was much better than expected pushing up earnings.

Based on the preliminary findings, Hapag-Lloyd’s earnings before interest and taxes (EBIT) for the third quarter 2020 significantly increased to around €350 million (2019: €253 million).

Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to around €650 million (2019: €554 million). Volumes were 3 per cent under previous year, but much better than expected some months ago.

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