Maritime economy
Hapag-Lloyd's figures turn positive
Hamburg, 24.02.2016 - Hapag-Lloyd has achieved its earnings targets for 2015 and also improved its operating result (EBIT) year-on-year in the fourth quarter.
Based on the preliminary and unaudited figures, Hapag-Lloyd improved its earnings before interest, taxes, depreciation and amortization (EBITDA) to EUR 831 million in 2015 (2014: EUR 98.9 million) and its operating result (EBIT) to EUR 366.4 million (2014: EUR -382.8 million). The EBITDA margin of 9.4% met the company's forecast. In the fourth quarter, EBITDA amounted to EUR 140.4 million (Q4 2014: EUR -79.7 million) and EBIT amounted to EUR 17.8 million (Q4 2014: EUR -304.9 million).
Turnover rose to 8.8 billion euros last year (2014: 6.8 billion euros). The significant increase was due in particular to the merger with the CSAV container business in December 2014. The transport volume increased to around 7.4 million TEU in 2015 as a whole (2014: 5.9 million TEU). The average freight rate in 2015 was USD 1,225/TEU (2014: USD 1,427/TEU), while the average bunker consumption price was USD 312/t (2014: USD 575/t).
As at the balance sheet date of December 31, 2015, Hapag-Lloyd had equity of EUR 5 billion (2014: EUR 4.2 billion) and a liquidity reserve (cash and cash equivalents and unused credit lines) of EUR 962.4 million (2014: EUR 921.9 million). Net debt amounted to EUR 3.33 billion (2014: EUR 3 billion). All results are preliminary. The 2015 consolidated financial statements and annual report will be published on March 23.
OVERVIEW OF KEY FIGURES HAPAG-LLOYD
Preliminary and unaudited results 2015 (in EUR, 2015 / 2014) Transport volume (TTEU) 7,401 / 5,907 Freight rate (USD/TEU) 1,225 / 1,427 Sales (EUR million) 8,842 / 6,808 EBITDA (EUR million) 831.0 / 98.9 EBIT (EUR million) 366.4 / -382.8 EUR) 366.4 / -382.8 EBITDA margin 9.4% / 1.5% EBIT margin 4.1% / -5.6% Sales (USD million) 9,814 / 9,046 EBITDA (USD million) 922.4 / 131.4 EBIT (USD million) 406.7 / -508.7 Average exchange rate USD/EUR 1.11 / 1.33 Closing rate 31.12. USD/EUR 1.09 / 1.22
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