Hapag-Lloyd publishes preliminary business figures for 2023
EBITDA and EBIT significantly lower than previous year, as expected
Average freight rate decreased by 48%
Transport volume up to 11.9 million TEU
As expected, Hapag-Lloyd recorded a significant decrease in earnings in the 2023 financial year.
On the basis of preliminary and unaudited figures, the Group EBITDA stood at USD 4.8 billion (EUR 4.5 billion), and the Group EBIT experienced a year-on-year decrease, to USD 2.7 billion (EUR 2.5 billion). This can largely be attributed to lower freight rates resulting from the normalisation of global supply chains.
Revenues decreased to USD 19.4 billion (EUR 17.9 billion), primarily owing to a lower average freight rate of 1,500 USD/TEU (2022: 2,863 USD/TEU). Transport volumes for 2023 as a whole rose by 0.5% to 11.9 million TEU (2022: 11.8 million TEU). However, the conflict in the Red Sea negatively impacted transport volumes at the end of the year, as the rerouting of ships around the Cape of Good Hope extended voyage times.
Hapag-Lloyd will publish its 2023 Annual Report with the audited financial figures and an outlook for the current financial year on 14 March 2024.
Explanatory notes relating to the performance measures EBITDA and EBIT referred to herein can be found here:
With a fleet of 264 modern container ships and a total transport capacity of 2.0 million TEU, Hapag-Lloyd is one of the world’s leading liner shipping companies. In the Liner Shipping segment, the Company has around 13,500 employees and 400 offices in 135 countries. Hapag-Lloyd has a container capacity of 2.9 million TEU – including one of the largest and most modern fleets of reefer containers. A total of 113 liner services worldwide ensure fast and reliable connections between more than 600 ports on all the continents. In the Terminal & Infrastructure segment, Hapag-Lloyd has equity stakes in 20 terminals in Europe, Latin America, the United States, India and North Africa. Around 2,600 employees are assigned to the Terminal & Infrastructure segment and provide complementary logistics services at selected locations in addition to the terminal activities.
This press release contains forward-looking statements that involve a number of risks and uncertainties. Such statements are based on a number of assumptions, estimates, projections or plans that are inherently subject to significant risks, uncertainties and contingencies. Actual results can differ materially from those anticipated in the Company’s forward-looking statements.