DGAP-News: Hapag-Lloyd AG: Third consecutive profitable

DGAP-News: Hapag-Lloyd AG / Key word(s): 9-month figures/Interim Report Hapag-Lloyd AG: Third consecutive profitable quarter 11.11.2015 / 08:00 --------------------------------------------------------------------- Hamburg, 11 November 2015 Hapag-Lloyd: Third consecutive profitable quarter Strong operational profit / increase in transport volume and revenue / IPO gross proceeds of USD 300 million to bolster future growth In the third quarter of 2015, Hapag-Lloyd recorded higher transport volumes, revenue and significantly improved earnings. Hapag-Lloyd achieved a net profit for the third consecutive quarter. In the first nine months Hapag-Lloyd's revenue increased by EUR 1.9 billion to EUR 6.8 billion compared to the same period in 2014. This increase was highly impacted by the merger with the container shipping activities (CCS) of CSAV in December 2014. Transport volume rose 28.3% to around 5.6 million TEU in the first nine months of 2015. On a pro forma basis including the CCS activities for 2014 volumes were down 3.9% in that period. The average freight rate in the first nine months of 2015 came in at 1,260 USD/TEU, 12% below the same period of 2014. On a pro forma basis including the CCS activities for 2014 the decline would have been 8.0%. Earnings improved as a result of synergies from the merger with CCS and additional cost savings from the OCTAVE program. In the first nine months of 2015, Hapag-Lloyd achieved an EBITDA of EUR 690.6 million (prior year period: EUR 178.6 million) and an operating result (EBIT) of EUR 348.6 million (prior year period: EUR -77.9 million). Hapag-Lloyd recorded a net profit of EUR 160.4 million (prior year period: EUR -224.0 million). Transport expenses per TEU decreased by USD 240/TEU to USD 1,111/TEU in the first nine months of 2015. The decline was mainly due to reduced bunker prices and a decline in bunker consumption as well as synergies related to the integration of CCS. Costs of purchased services also declined by USD 92/TEU on the basis of lower container transport costs as well as port, canal and terminal costs as a consequence of the realised synergies and cost savings. On 6 November 2015, Hapag-Lloyd successfully completed its initial public offering, generating gross proceeds of approximately USD 300 million that will be invested in new vessels and containers. "We are satisfied with our results for the first nine months of 2015, given the very challenging market environment", said Rolf Habben Jansen, CEO of Hapag-Lloyd. "The third quarter proved once more that the merger with CSAV was the right step and that our cost reduction measures are making us competitive. With the proceeds from the IPO, we will be able to invest in the future to further improve efficiency and profitability." SUMMARY OF HAPAG-LLOYD KEY FIGURES | Q3 2015 <pre> KEY OPERATING FIGURES1 1.7. - 1.7. - 1.1. - 1.1. - Change 30.9. 30.9. 30.9. 30.9. absolute 2015 2014 2015 2014 Total vessels 175 147 175 147 +28 (as at 30 September) Aggregate capacity of TTEU 946 760 946 760 +186 vessels Aggregate capacity of TTEU 1,613 1,160 1,613 1,160 +453 containers Bunker price (MFO, average USD/t 306 585 333 591 -258 for the quarter) Freight rate USD/ 1,189 1,448 1,260 1,432 -172 (average for the quarter) TEU Transport volume TTEU 1,861 1,474 5,579 4,347 +1,232 Revenue mio 2,137 1,681 6,806 4,894 +1,912 EUR Transport expenses mio 1,768 1,459 5,560 4,333 +1,227 EUR EBITDA mio 197.3 111.4 690.6 178.6 +512.0 EUR EBIT mio 80.9 23.6 348.6 -77.9 +426.5 EUR EBIT adjusted mio 67.6 33.1 308.2 -40.6 +348.8 EUR Group profit/loss mio 3.2 -50.7 160.4 -224.0 +384.4 EUR Cash flow from operating mio 160.4 89.9 484.5 163.2 +321.3 activities EUR </pre> <pre> KEY RETURN FIGURES1 EBITDA margin (EBITDA/revenue) % 9.2 6.6 10.1 3.6 +6.5 ppt EBIT margin (EBIT/revenue) % 3.8 1.4 5.1 -1.6 +6.7 ppt EBIT margin adjusted (EBIT adjusted/revenue) % 3.2 2.0 4.5 -0.8 +5.3 ppt </pre> <pre> KEY BALANCE SHEET FIGURES AS AT 30 SEPTEMBER2 Balance sheet total mio 10,7 10,1 10,7 10,1 +642 EUR 50 08 50 08 Equity mio 4,673 4,170 4,673 4,170 +503 EUR Equity ratio % 43.5 41.2 43.5 41.2 +2.3 (equity/ ppt balance sheet total) Borrowed capital mio 6,077 5,939 6,077 5,939 +138 EUR </pre> <pre> KEY FINANCIAL FIGURES AS AT 30 SEPTEMBER2 Financial debt mio 3,889 3,717 3,889 3,717 +172 EUR Cash and cash equivalents mio 484 711 484 711 -227 EUR Net debt mio 3,405 3,006 3,405 3,006 +399 (financial debt - cash and cash EUR equivalents) Gearing % 72.9 72.1 72.9 72.1 +0.8 (net debt/equity) ppt </pre> <pre> NUMBER OF EMPLOYEES AS AT 30 SEPTEMBER1 Marine personnel 1,539 1,385 1,539 1,385 +154 Shore-based personnel 7,961 5,661 7,961 5,661 +2,300 HAPAG-LLOYD TOTAL 9,500 7,046 9,500 7,046 +2,454 </pre> 1 The comparison of figures refers to the prior-year period 1 January to 30 September 2014. 2 The comparison of key balance sheet and key financial figures refers to the balance sheet date 31 December 2014. About Hapag-Lloyd With a fleet of 175 modern container ships, Hapag-Lloyd is one of the world's leading liner shipping companies. The Company has nearly 10,000 employees at more than 353 sites in 117 countries. Since the merger with CSAV's container business in December 2014, the Hapag-Lloyd fleet has offered a total transport capacity of almost one million standard containers (TEU) as well as a container fleet of 1.6 million TEU - including one of the world's largest and state-of-the-art reefer fleets. 122 liner services worldwide ensure fast, reliable connections between all the continents. Hapag-Lloyd is a founding member of the G6 Alliance, one of the largest shipping alliances worldwide. Hapag-Lloyd is one of the leading operators in the Atlantic and Latin America trades. --------------------------------------------------------------------- 11.11.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Hapag-Lloyd AG Ballindamm 25 20095 Hamburg Germany Phone: +49 (0) 40 3001 - 2896 Fax: +49 (0) 40 3001 - 72896 E-mail: ir@hlag.com Internet: www.hapag-lloyd.com ISIN: DE000HLAG475, USD33048AA36 WKN: HLAG47, A1E8QB Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Hanover, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service --------------------------------------------------------------------- 411333 11.11.2015