Hapag-Lloyd has published its annual report for the 2025 fiscal year and announced a proposed dividend of EUR 3.00 per share.
Group EBITDA reached USD 3.6 billion (EUR 3.2 billion), EBIT totaled USD 1.1 billion (EUR 1.0 billion), and Group profit amounted to USD 1.0 billion (EUR 0.9 billion). The result was at the upper end of the earnings forecast but below the previous year, due to lower freight rates and higher operational costs.
In the Liner Shipping segment, revenues increased to USD 20.6 billion (EUR 18.3 billion) in 2025. EBITDA declined to USD 3.5 billion (EUR 3.1 billion) and EBIT to USD 1.0 billion (EUR 0.9 billion). Transport volumes rose by 8% to 13.5 million TEU, while the average freight rate decreased by 8% to USD 1,376 per TEU. Higher costs related to operational disruptions, tariff policies, security issues in the Red Sea, start-up expenses for the Gemini network, and port congestion impacted earnings. Cost savings linked to the Gemini network began in the second half of 2025 and are expected to continue in 2026. One-time non-cash effects in the fourth quarter had a positive impact.
© Hapag-Lloyd
The Terminal & Infrastructure segment reported revenues of USD 514 million (EUR 455 million), reflecting acquisitions, ramp-up of new terminals, and increased throughput. EBITDA remained at USD 152 million (EUR 134 million), while EBIT declined to USD 66 million (EUR 58 million), due to operational challenges and ramp-up costs.
The Executive Board and Supervisory Board will propose a dividend of EUR 3.00 per share for the 2025 fiscal year, corresponding to a total payout of EUR 0.5 billion.
For 2026, the company expects Group EBITDA to range between USD 1.1 billion and USD 3.1 billion (EUR 0.9 to 2.6 billion), and Group EBIT between USD -1.5 billion and USD 0.5 billion (EUR -1.3 to 0.4 billion). The outlook is subject to uncertainty related to freight rate developments and geopolitical conditions.
At the start of 2026, weather conditions and disruptions in the Middle East have affected operations and increased costs. The company expects earnings in 2026 to be below 2025 levels and plans to continue cost measures and operational adjustments.
To view the full report, click here.
For more information:
Nils Haupt
© Hapag-LloydHapag-Lloyd
Tel: +49 40 3001-2263
Email: [email protected]
Tim Seifert
Hapag-Lloyd
Tel: +49 40 3001-2291
Email: [email protected]
