Last year is one of the worst ever for Hapag Lloyd. Its turnover, down to $19.39 billion, practically halved compared to the previous financial year.
Its EBITDA fell 76.4% to $4.82 billion. Its operating profit was down 85.2% to $ 2.74 billion. Hapag Lloyd’s net profit was $3.19 billion, -82.2% on 2022.
The poor results can be attributed largely to freight rates dwindling, falling by an average of 46.7% year-on-year to $ 1,500 per twenty-foot container. In 2023, however, transported volumes increased. In fact, Hapag-Lloyd’s container fleet transported 11.91 million TEUs, marking an increase of 0.5% over 2022.
In the fourth quarter of 2023 alone, the Hapag-Lloyd Group’s revenue amounted to $4.08 billion, -48.8% year-on-year. Its EBITDA totaled $305.7 million (-92.0%).
In the fourth quarter of 2023, Hapag Lloyd recorded an EBIT loss of $251 million compared to a net profit of $3.3 billion recorded in the fourth quarter of 2022.
Translation by Giles Foster
