By Dominic Chopping
Hapag-Lloyd backed full-year guidance as it cautioned that global trade conflicts and continuing disruptions in the Red Sea could significantly impact supply and demand in the container shipping industry this year.
The German shipping company, the world's fifth-largest container line by capacity, said it had a good start to 2025, but the situation in the Red Sea and the impact of global tariffs and trade policies continue to be causes for concern, bringing with them considerable uncertainty.
"We will continue to implement our Strategy 2030, vigorously focus on our costs and target additional savings of more than $1 billion within the next 18 months," said Chief Executive Rolf Habben Jansen.
The company reported earnings before interest, tax, depreciation and amortization of 1.01 billion euros ($1.13 billion) in the first quarter, up from 835 million euros a year prior, and in line with company guidance of around 1 billion euros.
Earnings before interest and tax rose to 462.8 million euros, versus company guidance of around 500 million euros.
Revenue rose 19% to 5.05 billion euros.
The company still expects group Ebitda of between 2.4 billion and 3.9 billion euros in 2025 and EBIT of between zero and 1.5 billion euros.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
05-14-25 0221ET
