shipping · Financial · profit · EBIT
German container shipping group Hapag-Lloyd said on Monday that its full-year earnings before interest and taxes declined to $1.1 billion, reaching the upper end of its forecast, citing preliminary results.
That was below the $2.8 billion reported for 2024 and compares with a target range of $600 million and $1.1 billion.
In an unscheduled release, the group said that an 8% increase in transport volumes was countered by a decline in average freight rates of 8%.
Higher costs due to the rerouting of ships via the Cape of Good Hope and start-up expenses for a collaboration with rival Maersk known as the Gemini Network dragged on earnings.
However, Gemini-related cost savings started kicking in during the second half of 2025 and will be fully realised in 2026, it said, adding that one-time non-cash effects in the fourth quarter bolstered last year's profit.
Hapag-Lloyd is due to publish detailed results and an outlook for the current year on March 26.
(Reuters)
