Hapag-Lloyd Lifts Earnings View on First-Half Momentum
By Elena Vardon
Hapag-Lloyd raised its full-year outlook after a better-than-expected performance in the first half of 2024.
The German shipping company on Tuesday said it expects the second half to be above expectations thanks to recent strong demand and increased short-term freight rates.
The group guided for earnings before interest, taxes, depreciation and amortization between 3.2 billion and 4.2 billion euros ($3.5 billion-$4.6 billion) for the year, compared with previous expectations of between EUR2.0 billion and EUR3.0 billion.
Group earnings before interest and taxes is now expected in the EUR1.2 billion to EUR2.2 billion range for the year, up from previous guidance of up to EUR1.0 billion.
"Against the backdrop of very volatile freight rates and major geopolitical challenges, the forecast is subject to a high degree of uncertainty," Hapag-Lloyd said.
For the first half of the year, which are due to be published on Aug. 14, the company expects to report group Ebitda of around EUR1.8 billion and group Ebit of around EUR800 million.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
July 09, 2024 13:25 ET (17:25 GMT)
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