23.03.2016
Hapag-Lloyd AG DE000HLAG475
DGAP-News: Hapag-Lloyd AG: Hapag-Lloyd delivers 114 million Euro net profit in a challenging market environment
DGAP-News: Hapag-Lloyd AG / Key word(s): Final Results
Hapag-Lloyd AG: Hapag-Lloyd delivers 114 million Euro net profit in a
challenging market environment
23.03.2016 / 13:45
The issuer is solely responsible for the content of this announcement.
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Hamburg, 23 March 2016
Hapag-Lloyd delivers 114 million Euro net profit in a challenging market
environment
Synergies, Cost-cutting programme and a more competitive fleet ensure
successful year / Hapag-Lloyd well positioned due to balanced trade
portfolio and presence in attractive niche markets / Further
earnings-improvement projects in 2016
Hapag-Lloyd achieved a net profit of EUR 114 million (previous year: EUR
-604 million) in the financial year 2015. EBITDA amounted to EUR 831
million (previous year: EUR 99 million) and the operating result (EBIT) to
EUR 366 million (previous year: EUR -383 million).
"The result for the year is in line with our expectations. Hapag-Lloyd has
delivered what we promised. Also in comparison with our main competitors,
Hapag-Lloyd has made up tremendous ground and is back among the top
performers in the industry," said Rolf Habben Jansen, CEO of Hapag-Lloyd
AG, commenting on the presentation of the final figures for 2015. "We've
worked hard for this success by quickly integrating CSAV's container
business and by exploiting the synergies, as well as with the OCTAVE
cost-cutting and efficiency programme, which will make a total earnings
contribution of in total USD 600 million from 2016. More than 70% of the
expected result improvements have been realized in 2015 already. On the
back of this success, we already launched OCTAVE 2 towards the end of
2015. In this programme we have again identified promising potential that
should further improve our efficiency." In 2016 Hapag-Lloyd has started the
roll out of the "Compete to Win" programme, to increase focus on the
customer and improve revenue quality.
In 2015, Hapag-Lloyd's transport volume rose by 25.3% year on year to 7.401
million TEU. The average freight rate in the previous financial year was
1,225 USD/TEU, which represents a decline of 202 USD/TEU, or 14.2%, on
2014. Revenue reached EUR 8.842 billion in the past financial year,
following EUR 6.808 billion in the previous year. The increases in volume
and revenue were primarily attributable to the acquisition of CSAV's
container activities.
The transport expenses grew 19.8%, or EUR 1.198 billion, to EUR 7.258
billion. The transport expenses per TEU decreased by 20.1% from 1,363
USD/TEU in 2014 to 1,089 USD/TEU last year. This is caused by a lower
bunker consumption price, which, at 312 USD/tonne in 2015, was
significantly below the previous year's level of 575 USD/tonne. Also lower
consumption (per TEU transported) as well as the synergies and effects of
the OCTAVE programme contributed to reducing unit cost.
"In 2016 we will continue to work on our competitiveness, to maintain and
further strengthen our performance in the industry," explained Rolf Habben
Jansen. "We are well positioned thanks to our balanced portfolio across all
trades and our strong presence in attractive niche markets such as reefer,
special cargo, dangerous goods or cabotage."
The development of the business so far in 2016 is in line with
expectations. "We believe that the ongoing consolidation and the upcoming
new alliance set-up should add stability to the market, and that there will
be some recovery of the market," Habben Jansen said. Under these
conditions, with a normal peak season and thanks to further synergy
effects, additional cost reductions and efficiency projects as well as the
first effects of the "Compete to Win" project, Hapag-Lloyd plans to achieve
a moderate increase in EBITDA and a clear increase in EBIT in the current
financial year when
compared to 2015.
The year-on-year improvement in equity to EUR 5.046 billion (equity ratio:
45.5%) and the increased liquidity reserve of EUR 962 million serve as a
solid basis for exploiting additional growth opportunities (all figures as
at 31. December 2015).
About Hapag-Lloyd
With a fleet of 177 modern container ships, Hapag-Lloyd is one of the
world's leading container liner shipping companies. The Company has approx.
9,500 employees at 366 sites in 118 countries. Since the merger with CSAV's
container business in December 2014, the Hapag-Lloyd fleet has offered a
total transport capacity of almost one million standard containers (TEU) as
well as a container fleet of 1.6 million TEU - including one of the world's
largest and state-of-the-art reefer fleets. 121 liner services worldwide
ensure fast, reliable connections between all the continents. Hapag-Lloyd
is a founding member of the G6 Alliance, one of the largest shipping
alliances worldwide. Hapag-Lloyd is one of the leading operators in the
Atlantic and Latin America trades.
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23.03.2016 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
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448079 23.03.2016
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