German container shipping major Hapag-Lloyd has raised its earnings outlook for the current financial year after posting very strong results in the first nine months of 2021.
The move comes amid unabated global demand for container transports and the continuing disruptions in global supply-chains causing a shortage of available transport capacity.
Based on preliminary figures, EBITDA for the first nine months of 2021 is anticipated to be in the range of EUR 6.8 billion ($8.2 billion) compared to around EUR 1.8 billion in the prior-year period .
At the same time, EBIT is expected to be roughly EUR 5.8 billion compared to approximately EUR 0.9 billion in the first nine months of 2020.
Given the earnings momentum is likely to remain on a high level, the Executive Board of Hapag-Lloyd AG has decided to raise its earnings outlook.
2021 Group EBITDA is now expected to be in the range of EUR 10.1 – 10.9 billion (previously: EUR 7.6 – 9.3 billion) and Group EBIT in the range of EUR 8.7 – 9.5 billion (previously: EUR 6.2 – 7.9 billion).
Hapag-Lloyd has a fleet of around 250 containerships with a transport capacity of 1.8 million TEU. It also has a container capacity of approximately 2.8 million TEU – including one of the largest fleets of reefer containers.