Hapag-Lloyd with a strong third quarter

Hapag-Lloyd with a strong third quarter

• Higher spot rates drive significant increase in earnings
• Stable volumes despite geopolitical tensions and operational disruptions
• Growing Terminal & Infrastructure business continued to gain strategic importance
• Earnings outlook for 2026 raised amid continued favorable market fundamentals

Hapag-Lloyd concluded the third quarter of 2026 with a significantly higher Group EBITDA of USD 1.7 billion (EUR 1.5 billion) compared to the same period of the previous year. Group EBIT climbed to USD 1.1 billion (EUR 0.9 billion) and Group profit to USD 1.0 billion (EUR 0.9 billion). The main drivers for this positive development were significantly higher freight rates, strong vessel utilization in the Liner Shipping business and dynamic growth in the Terminal & Infrastructure segment.

In the Liner Shipping segment, revenue increased to USD 6.7 billion (EUR 5.8 billion) in the third quarter of 2026, driven by a significantly higher average freight rate of USD 1,808 per TEU (Q3 2025: USD 1,413 per TEU). Transport volumes reached 3.4 million TEU, remaining in line with the prior-year quarter despite the conflict in the Middle East and weather-related operational disruptions, both of which also put pressure on unit costs. EBITDA increased to USD 1.7 billion (EUR 1.4 billion), while EBIT rose to USD 1.1 billion (EUR 0.9 billion).

The Terminal & Infrastructure segment continued to grow. Revenue increased to USD 197 million (EUR 171 million) in the third quarter of 2026, reflecting investments in new and existing terminal capacity and improved performance of Latin American terminals. EBITDA advanced to USD 56 million (EUR 49 million), while EBIT improved to USD 34 million (EUR 29 million).

“We delivered a strong third quarter, driven by significantly higher spot rates, robust demand and high capacity utilization. Both our Liner Shipping and Terminal & Infrastructure businesses performed well, supported by the continued expansion of our global terminal portfolio. At the same time, unit costs still remain under pressure due to geopolitical tensions and operational disruptions. Looking ahead, we are committed to continue delivering unparalleled quality to our customers, investing in continued growth and maintaining strict cost discipline to further strengthen our competitive position,” said Rolf Habben Jansen, CEO of Hapag-Lloyd.

Supported by continued robust spot freight rates, business performance in the fourth quarter is developing better than previously expected. The Executive Board of Hapag-Lloyd AG therefore decided on November 11 to raise its earnings outlook for the 2026 financial year once again. Group EBITDA is expected to be in the range of USD 4.6 billion to 5.0 billion (EUR 4.0 billion to 4.4 billion) and Group EBIT in the range of USD 2.0 billion to 2.4 billion (EUR 1.7 billion to 2.1 billion). Against the backdrop of volatile freight rates and persistent geopolitical challenges, the outlook is subject to a considerable degree of uncertainty.

The financial report for Q3 2026 is available here:
https://www.hapag-lloyd.com/en/company/ir/publications/financial-report.html

 

KEY FIGURES (USD)*

  Q3 2026 Q3 2025 9M 2026 9M 2025 9M 2026 versus
9M 2025 Group     Revenues (USD million) 6,883 5,460 17,641 16,049 1,592 EBITDA (USD million) 1,726 866 3,048 2,790 258 EBIT (USD million) 1,085 228 1,104 905 199 EBITDA margin (%) 25.1 15.9 17.3 17.4 -0.1 pp EBIT margin (%) 15.8 4.2 6.3 5.6 0.6 pp Group profit (USD million) 999 172 827 946 -120 Liner Shipping Segment     Transport volume (TTEU) 3,383 3,401 10,068 9,989 79 Freight rate (USD/TEU) 1,808 1,413 1,541 1,421 120 Revenues (USD million) 6,718 5,357 17,179 15,743 1,435 EBITDA (USD million) 1,670 836 2,890 2,680 210 EBIT (USD million) 1,052 219 1,032 858 174 Terminal & Infrastructure Segment     Revenues (USD million) 197 131 556 375 181 EBITDA (USD million) 56 30 159 110 49 EBIT (USD million) 34 9 72 46 26

 
KEY FIGURES (EURO)*

  Q3 2026 Q3 2025 9M 2026 9M 2025 9M 2026 versus
9M 2025 Group     Revenues (EUR million) 5,968 4,665 15,190 14,350 840 EBITDA (EUR million) 1,491 735 2,625 2,495 130 EBIT (EUR million) 935 190 950 809 141 Group profit (EUR million) 860 138 712 846 -135 Liner Shipping Segment     Revenues (EUR million) 5,825 4,578 14,791 14,077 715 EBITDA (EUR million) 1,442 710 2,488 2,396 92 EBIT (EUR million) 906 183 888 767 121 Terminal & Infrastructure Segment     Revenues (EUR million) 171 112 479 335 144 EBITDA (EUR million) 49 26 137 98 39 EBIT (EUR million) 29 7 62 41 21

* In individual cases, rounding differences may occur in the tables for computational reasons.
 

About Hapag-Lloyd
With a fleet of 301 modern container ships and a total transport capacity of 2.5 million TEU, Hapag-Lloyd is one of the world’s leading liner shipping companies. In the Liner Shipping segment, the Company has 15,200 employees and 400 offices in 140 countries. Hapag-Lloyd has a container capacity of 3.7 million TEU – including one of the largest and most modern fleets of reefer containers. A total of 129 liner services worldwide ensure fast and reliable connections between 600 ports on all continents. In the Terminal & Infrastructure segment, Hapag-Lloyd has equity stakes in 27 marine terminals in Europe, Latin America, the United States, India and North Africa. 4,400 employees are assigned to the Terminal & Infrastructure segment and provide complementary logistics services at selected locations in addition to the terminal activities.

Disclaimer
This press release contains forward-looking statements that involve a number of risks and uncertainties. Such statements are based on a number of assumptions, estimates, projections or plans that are inherently subject to significant risks, uncertainties and contingencies. Actual results can differ materially from those anticipated in the Company’s forward-looking statements.

Press contacts
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Tim.Seifert@hlag.com / +49 40 3001-2291

Contact for investors
Alexander.Drews@hlag.com / +49 40 3001-3705