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image credit: Markus Daams / Flickr

Hapag-Lloyd’s profit rises despite lower volumes

August 14, 2020

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The group profit stood at $314 million in H1 2020, compared to $165 million seen in the corresponding period a year earlier.

Earnings before interest and taxes (EBIT) amounted to $563 million and surpassed the prior-year figure of $440 million.

At the same time, earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to $1.29 billion from $1.08 billion.

Revenues in the first half year of 2020 stood at approximately $7 billion, less than 1 per cent below the prior-year level. This can primarily be attributed to the fact that transport volumes decreased by approximately 4 percent, to roughly 5.8 million TEU, according to the carrier.

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