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Hapag-Lloyd AG
Earnings Release • Feb 28, 2017
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Corporate | 28 February 2017 08:14
Hapag-Lloyd AG: Hapag-Lloyd reports operating profit in 2016
DGAP-News: Hapag-Lloyd AG / Key word(s): Preliminary Results
28.02.2017 / 08:14
The issuer is solely responsible for the content of this announcement.
Hamburg, 28 February 2017
Hapag-Lloyd reports operating profit in 2016
**Volume up 2.7% / EBITDA reaches EUR 607 million / EBITDA margin at 7.9% /
EBIT of EUR 126 million**
Hapag-Lloyd achieved a positive operating result (EBIT) for 2016. Based on the preliminary unaudited figures earnings before interest, taxes, depreciation of intangible and fixed assets (EBITDA) reached EUR 607 million (2015: EUR 831.0 million) and the operating result (EBIT) EUR 126 million (2015: EUR 366.4 million) in 2016. The EBITDA margin is 7.9%. In the 4 th Quarter Hapag-Lloyd was able to increase EBITDA compared to 4 th Quarter of the previous year to EUR 226 million (Q4 2015: EUR 140.4 million) and EBIT to EUR 100 million (Q4 2015: EUR 17.8 million).
Due to a significantly lower average freight rate in 2016 of 1,036 USD/TEU (2015: 1,225 USD/TEU) revenue decreased to EUR 7.7 billion (2015: EUR 8.8 billion). At the same time, Hapag-Lloyd increased the transport volume by 2.7% to 7.6 million TEU (2015: 7.4 million TEU). Transport costs declined by 12.3% to EUR 6.4 billion (2015: EUR 7.3 billion) mainly driven by a lower average bunker consumption price of USD 210/tonne (2015: USD 312/tonne) as well as synergies from the integration of CSAV’s container shipping business and cost saving programs including improved fuel efficiency. The average USD/EUR exchange rate remained nearly stable at 1.10 USD/EUR compared to 1.11 USD/EUR in 2015.
As at the 31 December 2016 financial year-end date, Hapag-Lloyd had EUR 5.1 billion (2015: EUR 5.0 billion) in equity and a liquidity reserve (cash, cash equivalents and unused
credit facilities) of EUR 760 million (2015: EUR 962.4 million). Net debt amounted to EUR 3,592 million (2015: EUR 3,334 million).
All results are preliminary. The final full year 2016 group financial statements and the annual report 2016 will be published on 24 March 2017.
SUMMARY OF HAPAG-LLOYD KEY FIGURES
Preliminary and unaudited 2016 results (in EUR)
| 2016 | 2015 | |
| Transport volume (TTEU) | 7,599 | 7,401 |
| Freight rate (USD/TEU) | 1,036 | 1,225 |
| Revenue (million EUR) | 7,734 | 8,842 |
| EBITDA (million EUR) | 607 | 831.0 |
| EBIT (million EUR) | 126 | 366.4 |
| EBITDA margin | 7.9% | 9.4% |
| EBIT margin | 1.6% | 4.1% |
Preliminary and unaudited 2016 results (in USD)
| 2016 | 2015 | |
| Revenue (million USD) | 8,546 | 9,814 |
| EBITDA (million USD) | 671 | 922.4 |
| EBIT (million USD) | 140 | 406.7 |
| Annual average exchange rate USD/EUR | 1.10 | 1.11 |
| Year-end exchange rate USD/EUR | 1.06 | 1.09 |
About Hapag-Lloyd
With a fleet of 166 modern container ships and a total transport capacity of 963,000 TEU, Hapag-Lloyd is one of the world’s leading liner shipping companies. The Company has around 9,400 employees at 366 sites in 121 countries. Hapag-Lloyd has a container capacity of 1.6 million TEU – including one of the largest and most modern fleets of reefer containers. A total of 128 liner services worldwide ensure fast, reliable connections between all the continents. Hapag-Lloyd is one of the leading operators in the Transatlantic, Latin America and Intra-America trades.
28.02.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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| 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 News | DGAP News Service |