Hapag-Lloyd reported a Group EBITDA of USD 2.8 billion (EUR 2.5 billion) for the first nine months of 2025, with Group EBIT and Group profit at USD 0.9 billion (EUR 0.8 billion). Global trade continued to grow, although ongoing trade disputes contributed to fluctuating demand and freight rates. Earnings in the third quarter improved compared with the second quarter but remained below the previous year due to lower freight rates and cost pressures.
In the Liner Shipping segment, revenue increased to USD 15.7 billion (EUR 14.1 billion). Transport volumes rose 9 per cent year on year, reaching 10.2 million TEU, mainly due to growth on East–West trade routes. The average freight rate declined 4.8 per cent to USD 1,397 per TEU. EBITDA fell to USD 2.7 billion (EUR 2.4 billion) and EBIT to USD 0.9 billion (EUR 0.8 billion), partly due to network transition costs related to the Gemini network and congestion costs in several regions.
© Hapag-Lloyd
The Terminal & Infrastructure segment recorded revenue of USD 375 million (EUR 335 million), driven largely by the acquisition of a terminal in France. EBITDA reached USD 110 million (EUR 98 million), with EBIT at USD 46 million (EUR 41 million), both slightly below the previous year.
Hapag-Lloyd said the market environment during the reporting period remained volatile due to geopolitical developments and uncertainty around trade policy. The company reported higher transport demand but also increased costs linked to network changes and global congestion. It also highlighted the continuation of its terminal expansion activities under the Hanseatic Global Terminals brand.
The company announced plans to invest in up to 22 new vessels below 5,000 TEU as part of fleet modernization and decarbonization efforts. These will include both long-term charters and owned ships.
The Executive Board narrowed its full-year earnings forecast for 2025. Group EBITDA is now expected to fall between USD 3.1 billion and USD 3.6 billion (EUR 2.8–3.2 billion), and Group EBIT between USD 0.6 billion and USD 1.1 billion (EUR 0.5–1.0 billion). The company noted that geopolitical risks and volatile freight markets continue to create uncertainty around the outlook.
To view the full report, click here.
For more information:
Nils Haupt
Hapag-Lloyd
Tel: +49 40 3001 2263
Email: [email protected]
www.hapag-lloyd.com
