Hapag-Lloyd AG is raising its earnings outlook for the financial year 2024.
Group Ebitda is now expected to be in the range of $4.6bn to $5bn, up from previous estimates of between $3.5bn and $4.6bn.
Group Ebit is put at $2.4bn to 2.8bn, up from the previous forecast of $1.3bn to $2.4bn.
“Given the current course of business, characterised by stronger than expected demand and improved freight rates, and despite increased expenses related to the necessary diversion of vessels around the Cape of Good Hope, the executive board of Hapag-Lloyd is raising its earnings outlook for the financial year 2024,” the company said.
“Against the backdrop of very volatile freight rates and major geopolitical challenges, the forecast is subject to a high degree of uncertainty.”
The company also published preliminary earnings figures for the first nine months of the year.
Based on unaudited figures, the liner giant reported group Ebitda of approximately $3.6bn and group Ebit of approximately $1.9bn in the first nine months of 2024.
The final business figures for the first nine months of 2024 will be published on 14 November 2024.
Earlier this week, AP Moller-Maersk upgraded its profits guidance after a strong third quarter and the impact of the Red Sea crisis.
The Danish liner giant expects underlying Ebitda of between $11bn and $11.5bn for the full year, up from a previous forecast of between $9bn and $11bn, according to a trading update.
