Hapag 2021 earnings zoom to $12.8 billion on higher freight rates

February 1, 2022: German container carrier Hapag-Lloyd reported an over 300 percent increase (provisional) in earnings before interest, taxes, depreciation and amortisation (EBITDA) for the 2021 financial year at more than $12.8 billion. 

The main drivers of positive business developments, according to an official release, have been significantly improved freight rates resulting from very strong demand for goods exported from Asia. “At the same time, the major disruptions in global supply chains have led to a significant increase in transport expenses.”

Revenues increased to roughly $26.4 billion (approximately EUR 22.3 billion). “This can mainly be attributed to a higher average freight rate of $2,003/TEU compared to $1,115/TEU in 2020. “

Transport volumes were roughly on par with the prior-year level at 11.9 million TEUs (2020: 11.8 million TEUs) due to the strained supply chains.

Hapag-Lloyd will publish its 2021 annual report with an outlook for the current financial year on March 10, 2022.