Hapag-Lloyd announced on February 25, a 32% year-on-year increase in its 2018 operating profit, citing higher transport volumes, enhanced freight rates and ongoing cost synergies from merging with rival UASC in 2017.
Mainly, the operating profit before interest and tax (EBIT) reached the 443 million euros ($502.63 million) up from 411 million euros in 2017, according to the company’s statement in detailing preliminary results.
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Also, the EBIT target corridor had been 200-450 million euros.
The company also announced that its earnings before interest, tax, depreciation and amortisation (EBITDA) stood at 1.138 billion euros, in comparison to 1.055 billion euros in 2017.
The transport volumes experienced an increase by 21% to 11.9 million tonnes TEU. Yet, the bunker prices increased by 18% to $421 a tonne from $318 previously.
Hapag-Lloyd is scheduled to give a 2019 guidance when it publishes full annual results on March 22.
