Hapag-Lloyd extends profitability through H1
Hapag-Lloyd's profitability increased in the first quarter owing to increased volume, rate levels, and tight price controls.
Increasing geopolitical dangers did not shake Hapag-Lloyd CEO Rolf Habben Jansen's favorable perspective, as his line reported increased profitability during the first half of 2019. As a result, profitability more than doubled in the first half at the level of EBITDA (earnings before interest, tax, depreciation, and amortization).
Hapag-Lloyd reported earnings before interest and taxes (EBIT) of $436 million, taking the group’s net result from a $113 million loss in 2018 to a profit of $163 million in the first six months of 2019. Sand said container volume transported from Asia into Europe in the first half of 2019 saw significant increases.