US EditionHapag-Lloyd Posts 3% Lower Net Profit in First Half
Hapag-Lloyd's revenues rose 10% and transport volumes grew 10.6% despite a 3.1% net income decline amid geopolitical risks and US trade policy changes, CEO said.
14 Articles
14 Articles
Hapag-Lloyd Cites Changes in Trade Policies in Reporting Lower Profits
The container shipping industry’s fifth-largest carrier, Hapag-Lloyd, called its first half of the year results “in line with expectations,” but with declines in profits and a forecast of volatility, it took some of the “wind out of the sails” of the industry following Maersk’s positive earnings report a week ago. The German carrier talked of cost savings efforts and the potential for declining volumes, seeing its share price decline as much as …
Hapag-Lloyd is in demand with customers, transport volumes are increasing. At the same time, higher costs are added to the Hamburg-based company, which has an impact on profits.
Hapag-Lloyd recently transported more containers. However, given higher costs, the profits of the largest German container shipping company decreased.
Hapag-Lloyd posts 3% lower net profit in first half
German container shipping company Hapag-Lloyd, the world's fifth largest, today posted a 3.1% decline in its first-half net income to €709m and brought down the top of its full-year earnings forecast range, citing geopolitical uncertainty.
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