Despite Corona: Hapag-Lloyd profit doubled in share price jumps ten percent higher

After an ordinary Start to the new fiscal year, the transportation volumes in the second quarter decreased due to the pandemic, but the group result improved in

Despite Corona: Hapag-Lloyd profit doubled in share price jumps ten percent higher

After an ordinary Start to the new fiscal year, the transportation volumes in the second quarter decreased due to the pandemic, but the group result improved in the first six months to € 285 million - which was almost twice as much as in the prior-year period.

Hapag-Lloyd convinces with low costs and austerity measures

The group benefited from the sudden drop in fuel prices - a significant part of the operating costs. In addition, Hapag-Lloyd, have reduced their capacity and further austerity measures, said CEO Rolf Habben Jansen. Thus, the company was able to increase their liquidity reserves significantly.
The operating result before interest and taxes (Ebit) rose in the same period by 31 percent to 511 million euros. The turnover was 6.4 billion euros, almost stable.

The group maintains its earnings forecast for the current year, refers to the fact that the Outlook was associated with considerable uncertainties. The earnings before interest, taxes, depreciation and amortization (Ebitda) should amount to 1.7 to 2.2 billion euros and Ebit of 0.5 to 1.0 billion euros.

Hapag-Lloyd prefer stocks two digits of

shares of the shipping company picked up in time for lunch temporarily to ten per cent. In the tip, they caught up with 56,60 Euro even in the middle of July reached between high back. Most recently, she listed about eight percent in the case of 54,40 Euro higher. Hapag-Lloyd 56,60 EUR +6,65 (+13,31%) Xetra To the course data, The final Figures for the second quarter, the shipping line had been a little better than the previously announced key data, said Analyst Samuel Bland of JPMorgan on Friday in an evaluation. The expert expects in the third quarter, with a further leap in profits compared to the previous year.

Because of the high valuation of the papers but he remains in his negative vote, with "Underweight". His target price of 39 Euro signaled a significant downside risk.

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Updated Date: 15 August 2020, 04:27

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