Hapag Lloyds claims high operating profit at the start of 2019
The German shipping line Hapag-Lloyd closed Q1/2019 with a significantly higher operating profit, as earnings before interest and taxes (ebit) increased to EUR 214 million (compared to EUR 51 million in Q1/2018). The group’s net result increased to EUR 96 million (EUR -34 million in Q1/2018).
The line’s earnings before interest, taxes, depreciation and amortisation (ebitda), which was also impacted by the first-time application of the IFRS 16 reporting standard, rose to EUR 489 million (EUR 216 million in Q1/2018).
Hapag Lloyd revenues up by 17%
The company’s revenues in the period under review increased by 17%, to EUR 3.1 billion (EUR 2.6 billion in Q1/2018), with transport volume rising by 2% to 2.93 million teu (2.86 million teu in Q1/2018).
The line’s average freight rate improved to USD 1,079/teu, with the result positively influenced by a stronger average exchange rate of USD 1.14/EUR (compared to USD 1.23/EUR in Q1/2018). Higher bunker prices of USD 425/t, in contrast, had a negative impact on the quarterly result. (kd)