View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
May 13, 2022

Hapag-Lloyd net profit soars to $4.7bn in Q1 2022

The firm’s EBITDA surged 59.3% to $5.3bn in the current quarter.

German shipping firm Hapag-Lloyd has reported a net profit of $4.7bn in the first quarter of 2022, more than triple compared with $1.45bn in the same quarter last year.

The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) surged 59.3% to $5.3bn in the current quarter, versus $1.9bn in the first quarter of 2021.

Higher freight rates and a stronger US dollar resulted in revenue growth of 82.7% in the current quarter, to $9bn, as against $4.9bn in the year-ago quarter.

Its earnings per share increased from $8.24 to $26.6 over the period, with the company’s net liquidity further increasing by $4.4bn to $6.9bn.

Hapag-Lloyd stated that the forecast is subject to a high degree of uncertainty due to the ongoing Covid-19 pandemic.

Hapag-Lloyd CEO Rolf Habben Jansen said: “The year has got off to an exceptionally strong start on the whole, and whilst there have been first signs that the market has passed its peak we also expect a strong second quarter.”

The company announced the placement of orders for the construction of 137 container ships with a transport capacity of one million twenty-foot equivalent unit (TEU) in the first quarter of the year.

As of March, Hapag-Lloyd has a fleet of 248 container vessels.

Additionally, it has 12 newbuilds with a size of 23,660TEU each and five newbuilds of different sizes around 13,000TEU capacity.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy


Thank you for subscribing to Ship Technology