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Hapag-Lloyd earns cost of capital for first time in a decade

Photo: Marcus Hand hapagnameplate.jpg
With the sharp rise in demand for container shipping in the second half of last year Hapag-Lloyd earned the cost of capital for the first time in a decade in 2020.

Publishing its annual report Hapag-Lloyd confirmed an EBITDA of over $3bn for 2020, EBIT of around $1.5bn, and a group net result of $1.1bn.

“After transport volumes plummeted in the second quarter, we were able to benefit from unexpectedly strong demand for container transports in the second half of the year. Therefore, we have concluded the year with a much better result than that of 2019, and after the significant improvements achieved in previous years, we have been able to earn our cost of capital for the first time in a decade,” said Rolf Habben Jansen, CEO of Hapag-Lloyd.

Looking ahead Hapag-Lloyd expects EBITDA and EBIT in 2021 to “clearly surpass” last year based on a slightly increased volume and significantly higher freight rates.

“Thanks to continuing strong demand for consumer goods, we have gotten the current financial year off to a very positive start. However, the pandemic-related risks will remain for the time being, even if vaccination campaigns across the world hint at the first steps towards normalisation,” Habben Jansen said.

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