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After the normalization of the supply chains and the decline in demand, the Hamburg container shipping company Hapag-Lloyd expects less than a quarter of the record profit of 2022 this year. CEO Rolf Habben Jansen said on Thursday that he was very satisfied: "That would still be wonderful results." That would be the third-best result in the company's 176-year history. Specifically, Habben Jansen is now aiming for earnings before interest and taxes of 2 billion to 4 billion euros after 17 billion euros.
However, Habben Jansen pointed out that this forecast is subject to considerable uncertainty in view of the war in Ukraine and other geopolitical conflicts as well as the effects of inflation. Supply will exceed demand this year and next. "That's why we have to see that we take the costs out where possible," said the manager. The focus is also on the decarbonization of the fleet and the associated use of biofuels. "In the next few years we will do everything we can to become climate-neutral by 2045."
After Hapag-Lloyd had already increased the dividend tenfold in 2021, it is now to be doubled again to EUR 63 per share. A total of 11.1 billion euros are to be distributed. This is also good for the Hamburg state treasury: With the municipal investment company HGV holding a 13.9 percent stake in Hapag-Lloyd, this means a rain of more than 1.5 billion euros for the Hanseatic city. “We are trying to consolidate the positive one-off effects of the Hapag-Lloyd dividend in the city and group budgets and to use them in the time window from 2023 to 2026 in order to be able to make investments in the city – from housing construction to school construction and climate protection and the mobility turnaround,” Finance Senator Andreas Dressel recently said.
After the exceptional year 2021 caused by the corona, sales in 2022 rose again by more than a third to 34.5 billion euros, said Hapag CFO Mark Frese. The reason is in particular the average freight rate, which has risen from almost 1900 euros to almost 2700 euros per standard container (TEU) due to tight supply chains. At 11.8 million TEU, the transport volume remained at the 2021 level. However, transport expenses rose by 18.5 percent to 13.7 billion euros.
For Habben Jansen, who recently accompanied Chancellor Olaf Scholz with a delegation on his trip to India, the country with its 1.5 billion inhabitants is a very important market. This will grow above average in the next ten to twenty years and "is an interesting alternative to China". Hapag-Lloyd also signed a 40 percent stake in the leading Indian terminal and transport service provider JMBPL in January.
Hapag-Lloyd is thus following the trend of large liner shipping companies to increasingly invest in port companies and terminals. In addition to its involvement in India, the Hamburg-based shipping company is involved in the Italian terminal and transport company Spinelli Group, in Jadeweserport in Wilhelmshaven, in the Altenwerder container terminal in Hamburg, in Terminal TC3 in Tangier (Morocco) and in the construction of Terminal 2 in Damietta, Egypt. Recently, Hapag-Lloyd had also agreed to participate in the terminal business of the Chilean SM VSV.
With a fleet of 251 container ships and a transport capacity of 1.8 million TEU, Hapag-Lloyd is the fifth largest shipping company in the world. The company, with a good 14,000 in 135 countries, calls at more than 600 ports with its 119 liner services.
