by Manal Barakat, SeaNewsEditor

Hapag-Lloyd's recent financial reports show signs of market improvement during H1 2024.

The German carrier reported an EBITDA of USD 2 billion for the first half of 2024, with a Group EBIT of USD 0.9 billion and a Group profit of USD 0.8 billion.

Despite a decrease compared to the previous year, these results exceeded initial expectations due to higher demand and rising spot rates in Q2 2024.

Transport volumes increased by 5% to 6.1 million TEU in the Liner Shipping segment, although segment revenues fell by 14% to USD 9.3 billion due to a lower average freight rate. 

The EBITDA for this segment was USD 1.9 billion, and the EBIT was USD 0.8 billion.

Furthermore, Hapag-Lloyd reports that the Terminal & Infrastructure segment saw significant growth in sales and earnings, driven by equity stakes acquired in the previous year. 

The EBITDA rose to USD 71 million, and the EBIT to USD 33 million.

CEO Rolf Habben Jansen highlighted the company’s efforts to meet additional capacity requirements and progress in decarbonising the fleet. 

The Executive Board raised its forecast for the full year, expecting a Group EBITDA of USD 3.5 to 4.6 billion and a Group EBIT of USD 1.3 to 2.4 billion.