Hapag-Lloyd closes 2022 at $18.5 billion profit


German shipping company Hapag-Lloyd has experienced a successful financial year in 2022, with an increase in revenues due high freight rates.

On the basis of preliminary and unaudited figures, the carrier reported an EBITDA of $20.5 billion and an EBIT (operating profit) of $18.5 billion.

According to the carrier, the rise in EBIT can be attributed to the increase in average freight rates, as disruptions in the global supply chain and inflation drove an increase in costs.

This, in turn, led to a rise in revenues to $36.4 billion.

Hapag-Lloyd transported 11.8 million TEU in 2022, which is roughly equal to the prior year’s level of 11.9 million TEU, as congestion eased by year end and demand declined.

© Hapag-Lloyd

READ: Hapag-Lloyd wraps up Spinelli Group purchase

The company will publish its audited financial figures and outlook for the current financial year during a virtual press briefing on 2 March.

In its latest financial review, Rolf Habben Jansen, CEO of Hapag-Lloyd AG, had already forecasted a normalisation referring to strained global supply chains, with a strong balance sheet that would help the company stay “on course even in difficult water”.

Most recently, Hapag-Lloyd signed a binding agreement under which it will acquire 35 per cent of J M Baxi Ports & Logistics Limited (JMBPL) from a Bain Capital Private Equity affiliate.

The carrier also signed a binding agreement with JMBPL’s promoters, the Kotak family, to subscribe to a capital increase by the company and raise Hapag-Lloyd’s shareholding to 40 per cent.

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