DGAP-News: Hapag-Lloyd AG / Key word(s): Quarter Results
Hamburg, 9 May 2019
Result significantly up in the first quarter
"Thanks to higher transport volumes, better freight rates and a stronger US dollar, we achieved a good result and got the year off to a very decent start," said Rolf Habben Jansen, Chief Executive Officer of Hapag-Lloyd.
Revenues in the first quarter increased by 17% to EUR 3.1 billion (Q1 2018: EUR 2.6 billion) and transport volume rose 2% to 2,929 TTEU (Q1 2018: 2,861 TTEU). The average freight rate improved to 1,079 USD/TEU (Q1 2018: 1,029 USD/TEU), and the result was also positively influenced by a stronger average exchange rate of 1.14 USD/EUR (Q1 2018: 1.23 USD/EUR). In contrast, higher bunker prices of USD 425 per tonne had a negative impact on the quarterly result (Q1 2018: USD 372 per tonne).
Rolf Habben Jansen: "We are cautiously optimistic about 2019 despite slightly dampened forecasts for global economic growth and higher fuel prices. Q1 was in line with our expectations and we believe we can make further progress towards our strategic objectives throughout the rest of the year as we continue to roll-out and implement our Strategy 2023."
The report for the first quarter is available online at:
KEY FIGURES (USD)*
* Due to the first-time application of the reporting standard IFRS 16 as of 1 January 2019, the results of the first quarter of 2019 (including first-time application of IFRS 16) can only be compared to a limited extent with the results of the first quarter of 2018 (excluding first-time application of IFRS 16). In individual cases, rounding differences may occur in the tables for computational reasons.
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09.05.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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