Hapag-Lloyd reports higher results for 2019

Hapag-Lloyd has reported a Group net result of around US$ 418m for the financial year 2019.

Rolf Habben Jansen, chief executive officer, Hapag-Lloyd AG, commented: “Today we are in rapidly changing and uncertain times, but that does not take away that 2019 was a very good year for Hapag-Lloyd. We benefitted from higher volumes and better freight rates, kept a close eye on our costs and brought down our financial debt significantly. We also continued implementing our Strategy 2023, and achieved a Group net result that is well above the prior-year result.”

Revenues increased in the 2019 financial year by approximately 3 percent, to US$ 14.1 billion. The average freight rate of 1,072 US$/TEU was up by 2.7 percent over the previous year due to a stronger focus on more profitable trade lanes and active revenue management. The 1.4 percent year-on-year increase in transport volumes, to more than 12 million TEU, also made a positive contribution to revenues. Lower expenses for the handling and inland haulage of containers, a slightly lower average bunker consumption price of US$ 416 per tonne as well as the first-time application of IFRS 16 had a positive effect on transport expenses, which amounted to US$ 10.9 billion.

“2020 will be a very unusual year after we have seen that due to the coronavirus outbreak conditions in many markets have changed very quickly over the last weeks. After the initial shock, markets in China and other Asian Countries have started to recover probably faster than many feared – but now also the other continents are impacted, and the effects of that will be significant. We will in the upcoming weeks and months mainly focus on the three things that matter most to us: the safety and health of our people, keeping the Supply Chains of our customers flowing and taking precautionary financial measures to weather the storm if it lasts longer than anticipated.” added Habben Jansen

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