Hapag-Lloyd closed the first half of 2025 with a Group EBITDA of USD 1.9 billion (EUR 1.8 billion), down from USD 2.0 billion a year earlier, according to the company's release.
Group EBIT decreased to USD 0.7 billion (EUR 0.6 billion) and Group profit to USD 0.8 billion (EUR 0.7 billion).
The company cited frequent changes in US trade policies, congested seaports, and the security situation in the Red Sea as factors affecting demand, freight rates, and operations.
In the Liner Shipping segment, revenues rose to USD 10.4 billion (EUR 9.5 billion), supported by an 11% increase in transport volumes to 6.7 million TEU from 6.1 million TEU a year earlier, mainly in East-West trades.
The average freight rate was USD 1,400/TEU, close to the prior year’s USD 1,391/TEU. EBIT in the segment declined to USD 1.8 billion (EUR 1.7 billion) and profit to USD 0.6 billion (EUR 0.6 billion), partly due to start-up costs for the Gemini network, congestion, and inflation.
The Terminal & Infrastructure segment reported higher sales and earnings.
EBITDA increased to USD 79 million (EUR 72 million) and EBIT to USD 37 million (EUR 34 million).
In March 2025, the terminal portfolio expanded with the acquisition of a majority stake in CNMP LH in Le Havre, France.
Chief Executive Officer Rolf Habben Jansen said, “In a volatile market, we significantly increased our transport volume and ended the first half of the year on a solid note overall. We have gotten our Gemini network off to a very successful start and are setting new standards in our industry in terms of schedule reliability. In addition, we have made good progress in the further expansion of Hanseatic Global Terminals. In the second half of the year, we will keep our focus on quality and growth as well as operational and commercial performance while continuing to optimize our cost structure. At the same time, we will do everything in our power to help our customers navigate this volatile market environment, and we hope that more new trade agreements will make their supply chains more predictable.”
Based on first-half results, which the company said were in line with expectations, the Executive Board refined its 2025 financial forecast.
Group EBITDA is now expected between USD 2.8 billion and USD 3.8 billion (EUR 2.5–3.4 billion), and Group EBIT between USD 0.25 billion and USD 1.25 billion (EUR 0.2–1.1 billion).
The company said the forecast remains subject to significant uncertainty due to geopolitical challenges and volatile freight rates.
Hapag-Lloyd AG is a publicly listed German corporation headquartered in Hamburg, specializing in container shipping and terminal operations. The company operates globally through its Liner Shipping and Terminal & Infrastructure segments.
CNMP LH (Compagnie Nouvelle de Manutentions Portuaires Le Havre) is a port terminal operator based in Le Havre, France, managing container handling facilities and related logistics services.
Hanseatic Global Terminals is a terminal operating entity owned by Hapag-Lloyd, managing investments and operations in port terminals across multiple regions.