Hapag-Lloyd posts 1Q2019 EBIT of €214 million

Image: Hapag-Lloyd

Hapag-Lloyd closed the first quarter of 2019 with a significantly higher operating profit as earnings before interest and taxes (EBIT) increased to €214 million (US$240 million) from €51 million (US$63 million) in 1Q2018.

The group net result increased to €96 million (US$107 million) from a loss of €34 million in 1Q2018. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose to €489 million (US$549 million) from €216 million (US$267 million) in 1Q2018.

Hapag-Lloyd CEO Rolf Habben Jansen has said that the group’s improved financial performance compared to 1Q2018 was due to “higher transport volumes, better freight rates, and a stronger US dollar.”

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