PROVISIONAL first half revenues
for German carrier Hapag-Lloyd show a marked increase in earnings even with the
reduced pandemic related volume crash that has blighted the first of this year.
In spite of the more than 20 per
cent decline in cargo volumes in the two major trades out of Asia on the
Pacific and to European markets, the container line has managed to push up its
rates on an array of services and return an increase in earnings.
Earnings before interest, taxes,
depreciation, and amortisation (EBITDA) amount to approximately EUR1.15 billion
(US$1.3 billion) compared to EUR956 million in EBITDA in the first half of
2019. In addition, earnings before interest and taxes (EBIT) were EUR500 million
compared to EUR389 million in EBIT last year, said a Hapag-Lloyd statement.
For the whole financial year in
2020, the liner company forecasts of EBITDA of EUR1.7 to EUR2.2 billion and an
EBIT of EUR500 million to EUR1.0 billion remains unchanged, according to
Container News, Jacksonville.
"Against the background of
the still prevailing high risks with regard to the spread of the Covid-19
pandemic and the related economic consequences the forecast is subject to
significant uncertainties," Hapag-Lloyd commented in its announcement.
The final figures for the first
half-year 2020 are expected to be published on August 14, according to a
company spokesperson.
Source : HKSG.
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