Hapag-Lloyd reported a Group EBITDA of €2.5 billion ($2.8 billion) for the first nine months of 2025, with EBIT and net profit both at €0.8 billion ($0.9 billion).
Global trade continued to expand despite ongoing trade tensions, resulting in fluctuating demand and freight rates.
Earnings improved in the third quarter compared with the second but remained well below 2024 levels, reflecting sustained cost pressures and lower freight rates.
In the Liner Shipping segment, revenue rose to €14.1 billion ($15.7 billion), supported by a 9 per cent increase in transport volumes to 10.2 million TEU (9M 2024: 9.3 million TEU), driven mainly by East–West trade routes.
The average freight rate declined by 4.8 per cent year-on-year (YoY) to $1,397 per TEU (9M 2024: USD 1,467 per TEU).
EBITDA in this segment fell to €2.4 billion ($2.7 billion) and EBIT to €0.8 billion ($0.9 billion), primarily due to costs associated with the Gemini network transition and congestion in several regions.
The Terminal & Infrastructure segment recorded revenue of €335 million ($375 million), up from the previous year, largely due to the acquisition of a terminal in France.
EBITDA reached €98 million ($110 million) and EBIT €41 million ($46 million), both slightly below the prior-year results.
READ: Hapag-Lloyd Q1 2025 EBITDA reaches €1 billion
Rolf Habben Jansen, CEO of Hapag-Lloyd AG, said: “The first nine months were characterised by a highly volatile market environment, partly due to geopolitical developments and uncertainties surrounding trade policies. On the back of strong demand from our customers we delivered strong transport volume growth and achieved a solid overall result.
“With the Gemini network, we set a new quality benchmark in terms of schedule reliability, which clearly sets us apart from our competitors. We see first cost advantages from Gemini and will deliver the planned savings in full in the course of 2026.
“Additionally, we have further expanded our terminal business under the Hanseatic Global Terminals brand. Looking ahead, we will respond agilely to changes in global trade and maintain strict cost discipline. While doing so, we will not compromise on quality for our customers.”
READ: Hapag-Lloyd posts €5.0 billion shipping revenue in Q1 2025
As part of its ongoing fleet modernisation and decarbonisation strategy, Hapag-Lloyd has committed to investing in up to 22 new ships under 5,000 TEU, through a mix of long-term charters and owned vessels.
This investment supports the company’s target of achieving greater efficiency and a net-zero fleet by 2045.
With performance aligning to expectations, the Executive Board has refined its earnings outlook for 2025. Group EBITDA is now projected between €2.8–3.2 billion ($3.1 and 3.6 billion), and EBIT between €0.5–1.0 billion ($0.6 and 1.1 billion).
The forecast remains subject to significant uncertainty due to geopolitical instability and volatile freight markets.
In August, Hapag-Lloyd recorded a Group EBITDA of €1.8 billion ($1.9 billion) in H1 2025.
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