Hapag-Loyd ends year in the black

Hapag-Lloyd announced their 2017 annual results last week. Of interest is their EBITDA's marked improvement which increased to EUR 1,055 million (2016: EUR 607 mil). The net result came to EUR 32,1 million; an improvement of EUR 125,2 million compared to the loss incurred in 2016.

"Given the market situation, we are pleased with the 2017 results. Especially because we completed the integration of Hapag-Lloyd and United Arab Shipping Company (UASC) in the same period," says Rolf Habben Jansen, CEO of Hapag-Lloyd. "The successful fusion with UASC has considerably improved our competitive edge. We also benefited from the increased freight rates and the positive developments in the global container market."

Turnover climbed by 29% to EUR10 billion (2016: EUR7,7 billion). The transported volume rose by 29% to 9,8 million TEU (2016: 7,6 mill TEU). This was primarily due to the amalgamation. Looking ahead, the shipping company expects to reduce their debt. They are also looking forward to exploiting all the synergies that arise from the merger.

Click here to see the yearly figures