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Hapag-Lloyd AG
Earnings Release • Jun 29, 2018
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Ad-hoc | 29 June 2018 11:08
Hapag-Lloyd AG: Hapag-Lloyd AG adjusts its outlook for the financial year 2018
Hapag-Lloyd AG / Key word(s): Change in Forecast
Hapag-Lloyd AG: Hapag-Lloyd AG adjusts its outlook for the financial year 2018
29-Jun-2018 / 11:08 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Hapag-Lloyd AG adjusts its outlook for the financial year 2018
Based on the development of the initial five months and the expected business performance for the remainder of the financial year 2018, the Executive Board of Hapag-Lloyd AG has decided today to revise its current outlook for the Group-EBIT and Group-EBITDA for the ongoing financial year 2018 (previous outlook for both: clearly increasing). Reason for that is an unexpectedly significant and continuing increase in the operational costs since the beginning of the year, especially with regard to fuel related costs and charter rates combined with a slower than expected recovery of freight rates. These developments cannot be fully offset by cost saving measures that have already been initiated.
Against this background and the continuing uncertainty regarding the development of freight rates in the upcoming peak season, the revised outlook now assumes an EBIT in a range between Mio. EUR 200 and Mio. EUR 450 (EBIT as of 31 December 2017: Mio. EUR 410.9) and an EBITDA in a range between Mio. EUR 900 and Mio. EUR 1,150 (EBITDA as of 31 December 2017: Mio. EUR 1,054.5).
Explanatory notes relating to the alternative performance measures EBIT and EBITDA referred to herein can be found in the annual report 2017, available at: https://www.hapag-lloyd.com/en/ir/publications/financial-report.html .
Contact:
Heiko Hoffmann
Senior Director Investor Relations
Hapag-Lloyd AG
Ballindamm 25
20095 Hamburg
Phone +49 40 3001-2896
Fax +49 40 3001-72896
Mobile +49 172 875-2126
29-Jun-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | Hapag-Lloyd AG |
| Ballindamm 25 | |
| 20095 Hamburg | |
| Germany | |
| Phone: | +49 (0) 40 3001 – 2896 |
| Fax: | +49 (0) 40 3001 – 72896 |
| E-mail: | [email protected] |
| Internet: | www.hapag-lloyd.com |
| ISIN: | DE000HLAG475, USD33048AA36 |
| WKN: | HLAG47, A1E8QB |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Hanover, Munich, Stuttgart, Tradegate Exchange |
| End of Announcement | DGAP News Service |