Net result falls at Hapag Lloyd

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Carl Collen

BY CARL COLLEN

Net result falls at Hapag Lloyd

Despite highlighting 'positive operating result', shipping group's net result drops on a year-on-year basis

Net result falls at Hapag Lloyd

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Hapag-Lloyd finished the first quarter of 2017 with positive operating result, as EBITDA increased to €131.3m despite a sharp increase in bunker prices.

However, despite greater transport volume and exchange rate effects pushing revenue up by 10.4 per cent to €2.13bn, the group's net result was lower than in the first quarter of 2016 at a loss of €62.1m, falling from a loss of €42.8m.

“Our activities in the first quarter focused on preparations for the merger with UASC and on the launch of our new alliance," said Rolf Habben Jansen, CEO of Hapag-Lloyd AG. "The launch of the THE Alliance went well, and the merger with UASC will be closed shortly. After the closing our priority will be to integrate UASC into Hapag-Lloyd quickly and to realise initial synergies from the merger.”

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