Hapag-Lloyd publishes 2024 annual report and announces outlook for current financial year
HAMBURG : Hapag-Lloyd published its new annual report today. According to the report, a slight increase in the operating result was achieved in 2024. The Group EBITDA rose to USD 5.0 billion (EUR 4.6 billion). The Group EBIT slightly improved compared to the prior year, to USD 2.8 billion (EUR 2.6 billion). At USD 2.6 billion (EUR 2.4 billion), the Group profit was below that of the prior year, particularly owing to lower interest income and higher tax expenses.
“In a challenging market environment, we achieved solid results and further increased customer satisfaction. We have further consolidated and expanded our terminal business under the Hanseatic Global Terminals brand. We have worked hard to further improve processes which will yield results in the years to come and stepped up our investments in digitalization and training of our people. Finally, we launched the largest newbuild program in our company’s history, which will enable us to further modernize and decarbonize our fleet,” said Rolf Habben Jansen, CEO of Hapag-Lloyd AG.
In the Liner Shipping segment, transport volumes for 2024 as a whole rose by 4.7%, to 12.5 million TEU (2023: 11.9 million TEU), while the average freight rate remained stable at 1,492 USD/TEU (2023: 1,500 USD/TEU). Revenues accordingly increased to USD 20.3 billion (EUR 18.8 billion). Despite higher transport expenses in connection with the necessary rerouting of ships around the Cape of Good Hope, the EBITDA increased to USD 4.9 billion (EUR 4.5 billion), while the EBIT remained at the prior-year level of USD 2.7 billion (EUR 2.5 billion).
The Terminal & Infrastructure segment recorded an improvement in its EBITDA in the 2024 financial year, to USD 151 million (EUR 139 million) – particularly owing to several acquisitions in the course of the previous financial year. The EBIT increased to USD 72 million (EUR 66 million).
Based on these earnings, the Executive Board and Supervisory Board of Hapag-Lloyd AG will propose to the Annual General Meeting a dividend of EUR 8.20 per share for the 2024 financial year – this corresponds to a total payout of EUR 1.4 billion, which once again makes the Hapag-Lloyd share one of the most attractive German dividend-bearing stocks.
For the 2025 financial year, the Executive Board expects the Group EBITDA to be in the range of USD 2.5 to 4.0 billion (EUR 2.4 to 3.9 billion) and the Group EBIT to be in the range of USD 0.0 to 1.5 billion (EUR 0.0 to 1.5 billion). This outlook remains subject to considerable uncertainty due to the highly volatile development of freight rates and major geopolitical challenges.
“In 2025 we are off to a very good start with Gemini, but the economic and geopolitical environment remains fragile. In this context, we anticipate earnings in 2025 to be lower than in 2024. In the first half of the current year, we will implement our Gemini network and expect to set new standards in terms of schedule reliability. We will continue to develop Hanseatic Global Terminals and await to further grow our inland business. At the same time, we will keep a very close eye on our unit costs and focus on becoming even more efficient and climate-friendly,” Rolf Habben Jansen said.
KEY FIGURES (USD)*
| Group | 2024 | 2023 | 2024 vs. 2023 |
|---|---|---|---|
| Revenues (USD million) | 20,673 | 19,391 | 1,282 |
| EBITDA (USD million) | 5,029 | 4,825 | 205 |
| EBIT (USD million) | 2,788 | 2,735 | 53 |
| EBITDA margin | 24% | 25% | -1 Ppt |
| EBIT margin | 13% | 14% | -1 Ppt |
| Group profit (USD million) | 2,588 | 3,189 | -601 |
| Liner Shipping Segment | 2024 | 2023 | 2024 vs. 2023 |
|---|---|---|---|
| Transport volume (TTEU) | 12,467 | 11,907 | 560 |
| Freight rate (USD/TEU) | 1,492 | 1,500 | -8 |
| Revenues (USD million) | 20,287 | 19,210 | 1,077 |
| EBITDA (USD million) | 4,878 | 4,775 | 104 |
| EBIT (USD million) | 2,717 | 2,717 | -1 |
| Terminal & Infrastructure Segment | 2024 | 2023 | 2024 vs. 2023 |
|---|---|---|---|
| Revenues (USD million) | 434 | 202 | 232 |
| EBITDA (USD million) | 151 | 50 | 101 |
| EBIT (USD million) | 72 | 18 | 54 |
KEY FIGURES (EURO)*
| Group | 2024 | 2023 | 2024 vs. 2023 |
|---|---|---|---|
| Revenues (EUR million) | 19,112 | 17,930 | 1,182 |
| EBITDA (EUR million) | 4,649 | 4,461 | 188 |
| EBIT (EUR million) | 2,577 | 2,529 | 48 |
| Group profit (EUR million) | 2,392 | 2,949 | -556 |
| Liner Shipping Segment | 2024 | 2023 | 2024 vs. 2023 |
|---|---|---|---|
| Revenues (EUR million) | 18,754 | 17,762 | 992 |
| EBITDA (EUR million) | 4,510 | 4,415 | 95 |
| EBIT (EUR million) | 2,511 | 2,513 | -1 |
| Terminal & Infrastructure Segment | 2024 | 2023 | 2024 vs. 2023 |
|---|---|---|---|
| Revenues (EUR million) | 401 | 187 | 214 |
| EBITDA (EUR million) | 139 | 46 | 94 |
| EBIT (EUR million) | 66 | 16 | 50 |
* In individual cases, rounding differences may occur in the tables for computational reasons.
About Hapag-Lloyd
With a fleet of 299 modern container ships and a total transport capacity of 2.3 million TEU, Hapag-Lloyd is one of the world’s leading liner shipping companies. In the Liner Shipping segment, the Company has around 14,000 employees and 397 offices in 139 countries. Hapag-Lloyd has a container capacity of 3.7 million TEU – including one of the largest and most modern fleets of reefer containers. A total of 113 liner services worldwide ensure fast and reliable connections between more than 600 ports on all the continents. In the Terminal & Infrastructure segment, Hapag-Lloyd has equity stakes in 21 terminals in Europe, Latin America, the United States, India and North Africa. 2,900 employees are assigned to the Terminal & Infrastructure segment and provide complementary logistics services at selected locations in addition to the terminal activities.