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02 March 2021 The on-line newspaper devoted to the world of transports 16:02 GMT+1

January 27, 2021

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Record financial and operating performance for Hapag-Lloyd in the last quarter of 2020

Over the period, the average value of the nuts increased by +9.5%

In the fourth quarter of 2020, Hapag-Lloyd recorded record financial and operating results as well as the all other major shipping companies containerised globally. The German company has in fact announced preliminary results for the period indicating revenues of approximately €3.4 billion, an increase of +9% on the quarter October-December 2019 and an increase of approximately 57 million compared to the previous historical record set in the first quarter 2020. EBITDA and EBIT also set new record highs having been equal to 900 million and 500 million respectively euro, with increased increases of +89% and +197% on the last quarter of the previous year and increases of EUR 200 million and EUR 148 million compared to previous records in the second quarter of the 2020.

Operating activity also reached new highs with a volume of containerised cargoes transported in the fourth quarter of 2020 by Hapag-Lloyd's fleet which is amounted to 3.1 million teu, with an increase of +2% on the same period of the previous year and with about 50,000 more compared to the previous record of the first quarter of 2020.

The sharp increase in financial results contributed to the growth in the average value of the nuts that in the fourth quarter of 2020 was $1,163/teu (+9.5%).

In the full year 2020, the company's transported 11.8 million teu, -2.0% less compared to the previous year. Last year, the average value of amounted to $1,115/teu (+4.0%).

Last year revenues totalled record value of 12.8 billion euros (+2%). New records also for EBITDA and operating profit, which were equal to €2.7 billion (+36%) and €1.3 billion (+60%).

Hapag-Lloyd specified that the increase in results is been generated mainly, in addition to the increase in the number of from the reduction in bunker prices and the decrease in expenses about $500 million from the success of the performance safeguards program. In addition, the company has specified that the value of EBIT includes one-off expenses for approximately $140 million (120 million euros) related mainly to fleet optimization.


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