Hapag-Lloyd AG has published its 2025 annual report, recording a Group EBITDA of €3.2 billion ($3.6 billion) and Group EBIT of €1.0 billion ($1.1 billion), with net profit reaching €900 million ($1.0 billion).
Results were at the upper end of the forecast but below 2024 levels, reflecting lower freight rates and higher operational costs.
In the Liner Shipping segment, revenues rose to €18.3 billion ($20.6 billion). EBITDA fell to €3.1 billion ($3.5 billion) and EBIT to €900 million ($1.0 billion).
Volumes increased 8 per cent to 13.5 million TEUs, supported by the Gemini network, but average freight rates declined 8 per cent to $1,376/TEU amid rising capacity and trade imbalances.
Additional headwinds included operational disruptions from new tariff policies, Red Sea security tensions, start-up costs for the Gemini Network, and port congestion.
READ: Hapag-Lloyd outlines contingency measures for Gulf cargo
Gemini-related cost savings began materialising in H2 2025, with full effect expected in 2026. One-time non-cash effects in Q4 provided a modest positive contribution.
The Terminal & Infrastructure segment posted revenues of €455 million ($514 million), driven by acquisitions, ramp-up of new terminals, and synergies with the liner business.
EBITDA remained flat at €134 million ($152 million), while EBIT fell to €58 million ($66 million) due to operational challenges and ramp-up costs.
Reflecting the solid earnings, the Executive Board and Supervisory Board of Hapag-Lloyd AG will propose a dividend of €3.00 ($3.47) per share, equivalent to €500 million ($545 million) in total.
READ: Hapag-Lloyd signs LOI to boost India ports and recycling
Looking ahead to 2026, the Executive Board expects Group EBITDA of USD 1.1–3.1 billion (€0.9–2.6 billion) and Group EBIT of €-1.3–0.4 billion ($-1.5–0.5 billion).
The outlook is uncertain due to volatile freight rates and the conflict in the Middle East.
Rolf Habben Jansen, CEO of Hapag-Lloyd AG, said: “2025 was a good year for Hapag-Lloyd with solid results. Our Gemini network delivered 90 per cent schedule reliability and customer satisfaction reached another record high. Additionally, our growing terminals portfolio increasingly contributed to the success of our liner business.
“At the beginning of 2026, adverse weather weighed on our performance and the conflict in the Middle East is now causing considerable network disruptions and sharply increasing operational costs. We will leverage increasing synergies from our Gemini network and accelerate our cost savings initiatives to counter these headwinds. At the same time, we will maintain our growth trajectory by expanding our terminals portfolio under the Hanseatic Global Terminals brand.”
For more information:
Hapag-Lloyd – https://www.hapag-lloyd.com/en/home.html
