Hapag-Lloyd Raises 2022 View

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Hapag-Lloyd AG said Thursday that it is raising its outlook for full-year earnings and reported growth in the first quarter.

The German shipping company said it expects earnings before interest, tax, depreciation and amortization between $14.5 billion to $16.5 billion, and earnings before interest and taxes between $12.5 billion to $14.5 billion for 2022. Previously, the company guided for Ebitda between $12 billion and $14 billion and EBIT between $10 billion and $12 billion.

“In view of the ongoing Covid-19 pandemic and the war in Ukraine, the forecast is subject to considerable uncertainty,” it said.

As for the company’s first quarter of the current year, Ebitda came in at around $5.3 billion and EBIT was around $4.8 billion, according to preliminary figures. One year prior, quarterly Ebitda was $1.91 billion and Ebit was $1.54 billion, according to the company report at the time.

“Based on current business performance, the second quarter should also exceed previous expectations,” the company said. It plans to report final figures for the first quarter on May 12.

[marketwatch]