Hapag-Lloyd posts solid nine-month results

Hapag-Lloyd achieved a Group EBITDA of USD 2.8 billion (EUR 2.5 billion) and a Group profit of USD 0.9 billion (EUR 0.8 billion) in the first nine months of 2025, driven by higher transport volumes despite ongoing volatility in global trade and freight rates.

Global trade expanded amid multiple trade conflicts, creating fluctuating demand and pricing. Earnings improved in the third quarter compared to Q2 but remained below 2024 levels due to low freight rates and rising costs.

In the Liner Shipping segment, revenue rose to USD 15.7 billion (EUR 14.1 billion), supported by a 9% increase in transport volume to 10.2 million TEU, mainly across East–West trade lanes. The average freight rate fell 4.8% year-on-year to USD 1,397 per TEU. EBITDA for the segment reached USD 2.7 billion, and EBIT stood at USD 0.9 billion, reflecting transition costs related to the new Gemini network and global congestion.

The Terminal & Infrastructure segment reported revenue of USD 375 million (EUR 335 million), up from the previous year, following the acquisition of a terminal in France. EBITDA reached USD 110 million, and EBIT was USD 46 million, both slightly below last year’s figures.

Hapag-Lloyd CEO Rolf Habben Jansen said the company delivered solid results in a challenging environment. “Strong customer demand drove volume growth, and the Gemini network has set a new benchmark for schedule reliability,” he said. “We are already seeing initial cost benefits and expect full savings in 2026. Our terminal business continues to grow under the Hanseatic Global Terminals brand.”

As part of its fleet modernization strategy, Hapag-Lloyd plans to invest in up to 22 new ships with capacities under 5,000 TEU, a mix of owned and chartered vessels, supporting its goal of net-zero operations by 2045.

The company has narrowed its earnings forecast for the full year 2025, now expecting Group EBITDA between USD 3.1 and 3.6 billion (EUR 2.8–3.2 billion) and Group EBIT between USD 0.6 and 1.1 billion (EUR 0.5–1.0 billion), noting continued uncertainty due to geopolitical and market conditions.

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