Hapag-Lloyd’s Full Year Profit in Line with Expectations
- Business & Finance
German container shipping company Hapag-Lloyd has achieved its earnings targets for 2015 and significantly improved its operating result (EBIT) in the fourth quarter of 2015 versus prior year, the company said.
Based on the preliminary unaudited figures, Hapag-Lloyd increased operating EBITDA to EUR 831 million against EUR 98.9 million in 2014 and the operating result (EBIT) to EUR 366.4 million against a EUR -382.8 million in 2014.
Revenue increased in 2015 to EUR 8.8 billion, two billion more than in the previous year. The significant increase was primarily attributable to the merger with CSAV’s container business in December 2014. The transport volume rose up to around 7.4 million TEU for 2015 from 5.9 million TEU in 2014.
As at the 31 December 2015 balance sheet date, Hapag-Lloyd had EUR 5 billion, compared to EUR 4.2 billion in 2014 in equity and a liquidity reserve of EUR 962.4 million. The company’s net debt amounted to EUR 3,334 million.