Hapag-Lloyd Reports Unsatisfactory Q1 as Profits Fall and Market Share Declines
Hapag-Lloyd has described its first-quarter performance as "unsatisfactory," marked by a significant drop in earnings and transport volumes. The German ocean carrier saw its EBITDA fall by 63% to $942 million, with a group EBIT of $396 million. This downturn led to a loss of market share to its main rivals, a development confirmed by CEO Rolf Habben Jansen. Despite the weak start to the year, the company is maintaining its full-year guidance, anticipating a market rebound in the second quarter driven by increased demand.
Official Source: https://theloadstar.com/hapag-lloyd-loses-market-share-in-an-unsatisfactory-first-quarter/
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