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MarketScreener Homepage  >  Equities  >  Xetra  >  Hapag-Lloyd Aktiengesellschaft    HLAG   DE000HLAG475

HAPAG-LLOYD AKTIENGESELLSCHAFT

(HLAG)
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Real-time Estimate Quote. Real-time Estimate Tradegate - 01/20 03:58:00 pm
109.6 EUR   +0.37%
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Hapag Lloyd : sees higher earnings on cheaper fuel, stabilising demand

11/13/2020 | 03:17am EST

* Bunker prices fell 5.4% in Jan-Sept, cutting costs

* Operators earn higher rates as ship supply is tight

* Demand outlook firm for Q4

* Coronavirus creates uncertainty going into 2021

FRANKFURT, Nov 13 (Reuters) - German container liner Hapag-Lloyd AG is confident of achieving higher earnings in 2020 as lower fuel prices cut shipping costs, demand in Asia recovers and fleet capacity is tight, chief executive Rolf Habben Jansen said on Friday.

"Oil prices have fallen sharply in the coronavirus crisis, that has given us tailwind, especially in the weak second quarter," said the head of the world's fifth biggest shipping firm in an interview with Reuters.

"Volumes have bounced back unexpectedly strongly in the third quarter and that will remain the case in the coming months," he added.

A drop in bunker - shipping fuel - prices by 5.4% to $402 per tonne helped cut operating costs in the first nine-months of 2020, when Hapag-Lloyd posted a 81.1% surge in net profit.

Net profit was 538 million euros ($635 million) in the period, compared with 297 million a year earlier.

The company stuck to guidance for full-year earnings before interest, tax, depreciation and amortisation (EBITDA), which it raised to 2.4-2.6 billion euros last month, and earnings before interest and tax (EBIT) of 1.1-1.3 billion.

Nine-month EBITDA increased 20.4% to 1.8 billion euros and EBIT was up 33.4% at 858 million euros.

Higher freights rates helped profitability, rising 2% to $1,097 per twenty foot equivalent unit (TEU) in the nine months.

This trend partly results from tight supply.

The world's idle fleet numerically represents 1.8% of total tonnage but in practice is "virtually zero," Habben Jansen said.

Despite favourable profit numbers and strict cost management, he warned of demand falls further ahead as fallout from the pandemic will leave a lasting imprint on the global economy.

"There is bound to be some sort of a weaker period in 2021 but we don't know how big the dent will be," he said.

($1 = 0.8470 euros) (Reporting by Vera Eckert; Editing by Rashmi Aich and Mark Potter)


© Reuters 2020
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Financials
Sales 2020 12 433 M 15 059 M 15 059 M
Net income 2020 840 M 1 018 M 1 018 M
Net Debt 2020 4 516 M 5 469 M 5 469 M
P/E ratio 2020 22,4x
Yield 2020 1,35%
Capitalization 19 263 M 23 304 M 23 330 M
EV / Sales 2020 1,91x
EV / Sales 2021 1,79x
Nbr of Employees 13 174
Free-Float 26,5%
Chart HAPAG-LLOYD AKTIENGESELLSCHAFT
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Hapag-Lloyd Aktiengesellschaft Technical Analysis Chart | HLAG | DE000HLAG475 | MarketScreener
Technical analysis trends HAPAG-LLOYD AKTIENGESELLSCHAFT
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 81,16 €
Last Close Price 109,60 €
Spread / Highest target 16,8%
Spread / Average Target -26,0%
Spread / Lowest Target -60,8%
EPS Revisions
Managers and Directors
NameTitle
Rolf Habben Jansen Chief Executive Officer
Michael Behrendt Chairman-Supervisory Board
Maximilian Rothkopf Chief Operating Officer
Mark Frese Chief Financial Officer
Karl Gernandt Deputy Chairman-Supervisory Board