International shipping and container transportation business Hapag-Lloyd (ETR:HLAG) booked positive fundamentals during the third quarter, which capped off three quarters of good financial progress.
During Q3 the Group’s revenues rose from $3.57 to $3.60 billion year-on-year, which pushed the Company’s EBITDA up from $453 million to $617 million and their net result up from $137 million to $$168 million.
This meant Hapag-Lloyd were able to hit the three-quarter mark on a positive note, with efficiencies and on-year revenue growth of $513 million pushing revenues up to $10.65 billion for the year-to-date. This led surges in the Group’s EBITDA and net result, which jumped by $727 million and $318 million to $1.70 billion and $333 million respectively.
Elsewhere in shipping and delivery, Amazon (NASDAQ:AMZN) reported operational developments, while Hanjin Transportation Co. Ltd. (KRX: 002320) and Clarkson (LON:CKN) both issued less positive updates.
Speaking on Thursday’s news, CEO Habben Jansen said,
“We have achieved a very respectable result after nine months: Despite geopolitical tensions and trade restrictions, we benefitted from higher transport volumes and better freight rates and also kept a close eye on our costs. And the same holds true for our strategic goal of becoming number one for quality.”
Speaking on its full-year outlook, the Company’s statement read,
“For the full financial year 2019, Hapag-Lloyd expects an EBITDA in the range of EUR 1.6 to 2.0 billion and an EBIT in the range of EUR 0.5 to 0.9 billion. Based on the business development in the first nine months of 2019, it can currently be assumed that EBITDA and EBIT will be in the upper part of the guided ranges.”
The Company’s shares rallied 3.81% or 2.81p to 70.80p per share 14/11/19 12:53 CET. The Group’s market cap is €11.99 billion, their dividend yield stands at 0.22%.