Welcome   Sponsored By
Subscribe | Register | Advertise | Newsletter | About us | Contact us
   


The Group EBITDA is now expected to be in the range of USD 2.2 to 3.3 billion

Hapag-Lloyd with good start to 2024 in first quarter of year

Click on the flag for more information about Germany GERMANY
Thursday, May 16, 2024, 01:00 (GMT + 9)

May 15, 2024 Quarterly Financial Report Q1 2024

  • Demand and rates stabilised in the first quarter
  • Earnings forecast for 2024 refined
  • Clear focus on costs and implementing Strategy 2030

Hapag-Lloyd concluded the first quarter of 2024 with a Group EBITDA of USD 942 million (EUR 868 million). Compared to the same quarter of the previous year, the Group EBIT decreased to USD 396 million (EUR 365 million) and the Group profit to USD 325 million (EUR 299 million).

In the Liner Shipping segment, the transport volumes for the first quarter of 2024 increased by 6.8 percent, to 3 million TEU (Q1 2023: 2.8 million TEU). Transport expenses were on a par with the same quarter of the previous year, at USD 3.3 billion (EUR 3 billion). Although costs rose significantly as a result of the rerouting of ships around the Cape of Good Hope, these were largely offset by active cost management. Revenues decreased to USD 4.6 billion (EUR 4.3 billion), primarily owing to a lower average freight rate of 1,359 USD/TEU (Q1 2023: 1,999 USD/TEU). Compared to the same quarter of the previous year, the EBITDA decreased to USD 906 million (EUR 835 million) and the EBIT to USD 378 million (EUR 348 million).

In the Terminal & Infrastructure segment, an EBITDA of USD 35 million (EUR 32 million) and an EBIT of USD 18 million (EUR 16 million) were achieved in the first quarter of 2024. The new segment was only created in the second half of 2023 and is currently in the process of being established. For this reason, the figures for the first quarter of 2024 are only comparable with the prior-year figures to a limited extent.

“Even though our results are significantly below the exceptionally strong figures from the previous year owing to the normalisation of supply chains, we are pleased to have got the new year off to a good start. The rates stabilised in the first quarter due to the rerouting of ships around the Cape of Good Hope and higher demand for capacity. The numerous new ships that have and will be delivered across the industry in 2024 have been instrumental to keep the Supply Chains going without too much disruption. Going forward, we must keep a close eye on our costs, and we will continue the implementation of our Strategy 2030 – with main focus on our decarbonisation initiatives and our promise to be the undisputed number one for quality for our customers,” said Rolf Habben Jansen, CEO of Hapag-Lloyd AG.

In view of the positive business performance in the first quarter of 2024, the Executive Board has refined its forecast for the current financial year, which was published on 14 March 2024. The Group EBITDA is now expected to be in the range of USD 2.2 to 3.3 billion (EUR 2 to 3 billion) and the Group EBIT to be in the range of USD 0 to 1.1 billion (EUR 0 to 1 billion). It is still assumed that a large part of the projected result will be generated in the first half of the year. In view of the highly volatile development of freight rates and major geopolitical challenges, this forecast remains subject to a high degree of uncertainty.

The financial report for the first quarter of 2024 is available here

[email protected]
www.seafood.media


 Print


Click to know how to advertise in FIS
MORE NEWS
Norway
May 23, 15:00 (GMT + 9):
Fish Pool Salmon Price Status Report for week 21
Norway
May 23, 14:50 (GMT + 9):
NASDAQ Salmon Index Exporting Week 20/2024
United Kingdom
May 23, 07:00 (GMT + 9):
Ocean Rebellion ask the public to just stop buying John West Tuna
Viet Nam
May 23, 07:00 (GMT + 9):
Shrimp exports: Signs of recovery from the EU market
Russian Federation
May 23, 07:00 (GMT + 9):
The Iwashi sardine catch by the Russian fleet continues to grow
Norway
May 23, 07:00 (GMT + 9):
First measurements from Norskerenna Sør for the development of offshore salmon aquaculture in Norway
Chile
May 23, 06:50 (GMT + 9):
Atacama Yellowtail, the US$90 million aquaculture project to produce yellowtail kingfish (seriola lalandi) in Tongoy Bay
Peru
May 23, 04:00 (GMT + 9):
By May, Over 71,000 Tons of Bonito Have Been Caught, 81% More Than Last Year
Norway
May 23, 01:50 (GMT + 9):
Scientists have found sounds that keep killer whales away from fishing boats
European Union
May 23, 01:00 (GMT + 9):
IN BRIEF - EBFA welcomes postponement of vote on total closure of 10% of EU fishing grounds
Argentina
May 23, 01:00 (GMT + 9):
Official Data on Shrimp Landings and Exports
Japan
May 23, 00:50 (GMT + 9):
Frozen squid inventories │ 2022-23-24
Japan
May 23, 00:40 (GMT + 9):
Landing and auction price for squid | Fresh - Frozen │ Main ports | 2022-23-24
Norway
May 23, 00:30 (GMT + 9):
Statistics │ Exports │ Mackerel │ Japan, China, Netherlands, Vietnam │ 2022-23-24
Japan
May 23, 00:30 (GMT + 9):
Stocks │ Frozen Mackerel │2022-23-24



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Ministry of Production imposes a ridiculous fine on a Chinese squid jigger that fished illegally in Peru
Peru Since the beginning of the administration of Minister Sergio González Guerrero, 26 arrivals of Chinese ships have been registered at ports in Peru without the monitoring of satellite devices re...
Balfegó Launches Bluefin Tuna Fishing Campaign
Spain The fleet commanded by Balfegó will capture an assigned quota of 3,087 tons and will do so, for the first time, under the B Corp sustainability seal The company, the first in t...
David versus Goliath in fishing
Peru A little more than three years ago, the government of the People's Republic of China surprised the world by reporting that its distant water industrial vessels, which fish for squid at the edge of the...
European and Western Selection-Explore the innovative path of Argentine squid from source to table
China   Argentine squid, also called Argentine shortfin squid, Latin name: Illex argentinus, is a squid that is currently caught in relatively large quantities, and is also a squid product that we a...
 

Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation - Wartsila Group Headquarters
ITOCHU Corporation - Headquarters
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
AquaChile S.A. - Group Headquarters
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Brim ehf (formerly HB Grandi Ltd) - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Grupo Pereira Headquarters
Costa Meeresspezialitäten GmbH & Co. KG
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
Cooke Inc. - Group Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart | Wal-Mart Stores, Inc. (Supermarket) - Headquarters
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2024 Seafood Media Group Ltd.| All Rights Reserved.   DISCLAIMER