Hapag-Lloyd revenue grows 56.0% to €6.2bn in Q3 2022.


Hapag-Lloyd has reported that their revenue for the first nine months of 2022 has reached €26.7bn, growing 78.1% year-on-year. In Q3 alone, the company’s revenue reached €6.2bn, growing 56.0% compared to the same period in the previous year. The company has stated that US dollar appreciation and freight rates growth are important factors influencing revenue development. The company has stated that in first nine months of 2022 its weighted average freight rates has grown 61.6% year-on-year.

The company has reported its EBITDA to have reached €15.6bn in the first nine months of 2022, growing 129.2% year-on-year. In Q3 alone, it’s EBITDA has been reported at €5.6bn, growing 70.5% year-on-year.

Volumes were stated by Hapag-Lloyd as being on a par with the previous year, with TEU transport volume per trade growing only 0.1% year-on-year from 8980 TTEU to 8987 TTEU in the first nine months of 2022. The company stated that on the transpacific lane, a difficult market environment characterised by the congestion of local port infrastructure and the resulting delays and suspension of container handling led to the decline in the transport volume, despite high demand for container transport.  

Transport expenses were reported to have risen to €10.1bn in the first nine months of 2022, growing 36.5% year-on-year. Hapag-Lloyd states that significantly higher bunker consumption price was a partial explanation to this climb, and that expenses for container handling have also risen. In the first nine months of 2022, fuel expenses reached €2.3bn, growing 92.2% year-on-year. In the same period, container handling expenses rose 25.6% to €5.0bn.

Hapag-Lloyd states that overall, the performance in the first nine months was in line with its forecasts for the full year, however, also adds that this forecast remains subject to considerable uncertainty given Russia’s war of aggression on Ukraine, supply chain disruptions that have not yet been fully resolved, and the effects of the COVID-19 pandemic.

Rolf Habben Jansen, CEO of Hapag-Lloyd AG stated: “In the coming months, the strained situation in the global supply chains should continue to normalise. At the same time, our strong balance sheet will help us to stay on course even in difficult waters. We will stick to our strategic agenda while investing more in quality and growth as well as in the further decarbonisation of our fleet. One very significant focus is investment in infrastructure, which we are using to further expand our terminal portfolio”

Source: Hapag-Lloyd