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Zawya
5 days ago
- Business
- Zawya
Hapag-Lloyd CEO says company needs to address cost basis
German container liner Hapag-Lloyd must seek to curb costs in response to profit declines in the first half of 2025 that partly resulted from start-up spending on the new Gemini cooperation with rival Maersk, it said on Thursday. "We need to put more and more emphasis on the competitive cost structure a little earlier, certainly (that is) a priority over the next 12 to 18 months," said Chief Executive Rolf Habben Jansen in a call with analysts. The company expects to achieve savings of $1 billion by 2026, roughly half of which will come as the Gemini deal will begin to pay off, he said. (Reporting by Vera Eckert, editing by Miranda Murray)
Reuters
5 days ago
- Business
- Reuters
Hapag-Lloyd lowers 2025 earnings forecast after half-year profit slips
FRANKFURT, Aug 14 (Reuters) - Container shipping company Hapag-Lloyd ( opens new tab reported a 3.1% decline in first-half net income on Thursday and lowered the top end of its full-year earnings forecast, largely due to uncertainty over geopolitical issues and U.S. trade policy. The world's fifth-largest shipping firm projected full-year earnings before interest and taxes ranging between 200 million euros and 1.1 billion euros, compared with a previously expected range of breakeven to 1.5 billion euros. Frequent changes in U.S. tariff policies have caused volatility in trade patterns, and the tense security situation in the Red Sea has also been a burden, resulting in 24% lower EBIT at 619 million euros in the six months, the German company said. Houthi militant attacks on Middle Eastern shipping have clouded the outlook for global shipping, with vessel owners being forced to sail a costly alternative route around Africa. Net income in the first half fell 3.1% to 709 million euros ($829 million). However, revenues were up 10% at 9.7 billion euros and transport volumes grew 10.6% to 6.7 million 20-foot-equivalent (TEU) containers, spurring CEO Rolf Habben Jansen to talk of a "solid note overall." The company's operational collaboration with bigger rival Maersk ( opens new tab - known as Gemini - got off to a good start, but costs needed to be optimised, he said. Germini brings together a network of 340 ships on seven trade corridors. ($1 = 0.8549 euros)
Yahoo
6 days ago
- Business
- Yahoo
Hapag-Lloyd posts 3.1% lower net profit in H1, lowers top of FY forecast
FRANKFURT (Reuters) -German container shipping company Hapag-Lloyd, the world's fifth largest, on Thursday posted a 3.1% decline in its first-half net income to 709 million euros ($829 million) and brought down the top of its full-year earnings forecast range, citing geopolitical uncertainty. The company projected full-year earnings before interest and taxes in a range between 0.2 billion and 1.1 billion euros, compared with between breakeven and 1.5 billion euros assumed previously. ($1 = 0.8549 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
6 days ago
- Business
- Reuters
Hapag-Lloyd posts 3.1% lower net profit in H1, lowers top of FY forecast
FRANKFURT, Aug 14 (Reuters) - German container shipping company Hapag-Lloyd ( opens new tab, the world's fifth largest, on Thursday posted a 3.1% decline in its first-half net income to 709 million euros ($829 million) and brought down the top of its full-year earnings forecast range, citing geopolitical uncertainty. The company projected full-year earnings before interest and taxes in a range between 0.2 billion and 1.1 billion euros, compared with between breakeven and 1.5 billion euros assumed previously. ($1 = 0.8549 euros)
Yahoo
6 days ago
- Business
- Yahoo
Hapag-Lloyd posts 3.1% lower net profit in H1, lowers top of FY forecast
FRANKFURT (Reuters) -German container shipping company Hapag-Lloyd, the world's fifth largest, on Thursday posted a 3.1% decline in its first-half net income to 709 million euros ($829 million) and brought down the top of its full-year earnings forecast range, citing geopolitical uncertainty. The company projected full-year earnings before interest and taxes in a range between 0.2 billion and 1.1 billion euros, compared with between breakeven and 1.5 billion euros assumed previously. ($1 = 0.8549 euros) Sign in to access your portfolio
