by Manal Barakat, SeaNewsEditor

Hapag-Lloyd has reported its financial results for the first nine months of 2024, achieving a Group EBITDA of USD 3.6 billion (EUR 3.3 billion) and a Group EBIT of USD 1.9 billion (EUR 1.8 billion).

In addition, the company saw a significant earnings boost in the third quarter, driven by stronger demand.

The company's Shipping segment witnessed a 5% increase in transport volumes to 9.3 million TEU compared to last year. However, segment revenues fell by 2% to USD 15.0 billion (EUR 13.8 billion).

The segment’s EBITDA and EBIT also declined, reaching USD 3.5 billion (EUR 3.2 billion) and USD 1.9 billion (EUR 1.7 billion), respectively.

In the meantime, the Terminals & Infrastructure segment experienced notable growth, with EBITDA increasing to USD 114 million (EUR 105 million) and EBIT to USD 56 million (EUR 51 million).

Looking forward, the company has raised its forecast for the financial year.

According to the carrier's statement, the group's EBITDA is now expected to be between USD 4.6 and 5.0 billion (EUR 4.2 to 4.6 billion) and EBIT between USD 2.4 and 2.8 billion (EUR 2.2 to 2.6 billion).

However, the carrier highlighted that this forecast is subject to uncertainties due to the current market challenges.