Hapag-Lloyd’s latest annual report shows a slight improvement in operational results for 2024, with revenues rising to €18.8 billion ($20.3 billion).
The Group’s EBITDA increased to €4.6 billion ($5 billion), while EBIT improved significantly over the previous year, reaching €2.6 billion ($2.8 billion).
At €2.4 billion ($2.6 billion), the Group’s profit was lower than the previous year, mainly due to decreased interest income and greater tax expenses.
Rolf Habben Jansen, CEO of Hapag-Lloyd AG, said: “In a challenging market environment, we achieved solid results and further increased customer satisfaction. We have further consolidated and expanded our terminal business under the Hanseatic Global Terminals brand.
“We have worked hard to further improve processes which will yield results in the years to come and stepped up our investments in digitalisation and training of our people.
“Finally, we launched the largest newbuild programme in our company’s history, which will enable us to further modernise and decarbonise our fleet.”
READ: Hapag-Lloyd finalises green financing for 24 new containerships
In 2024, Liner Shipping volumes rose 4.7 per cent to 12.5 million TEUs (2023: 11.9 million TEUs), while the average freight rate remained stable at 1,492 USD/TEU (2023: 1,500 USD/TEU).
Despite higher transport costs due to ship rerouting around the Cape of Good Hope, EBITDA grew to €4.5 billion ($4.9 billion), while EBIT remained unchanged at €2.5 billion ($2.7 billion).
In 2024, the Terminal & Infrastructure segment’s EBITDA improved to €139 million ($151 million), driven by acquisitions in the previous year. EBIT rose to €66 million ($72 million).
For 2025, the Executive Board expects Group EBITDA to range from €2.4 to €3.9 billion ($2.5 to $4.0 billion) and Group EBIT from €0.0 to €1.5 billion ($0.0 to 1.5 billion).
This outlook is uncertain due to volatile freight rates and geopolitical challenges.
READ: Hapag-Lloyd’s charter fleet capacity surpasses 1 million TEU
Jansen added: “In 2025 we are off to a very good start with Gemini, but the economic and geopolitical environment remains fragile.
“In this context, we anticipate earnings in 2025 to be lower than in 2024. In the first half of the current year, we will implement our Gemini network and expect to set new standards in terms of schedule reliability. We will keep a very close eye on our unit costs and focus on becoming even more efficient and climate-friendly.”
