Hapag-Lloyd records third-highest group profit in history despite significant financial declines

German ocean carrier Hapag-Lloyd has reported revenues of US$19.4 billion and profit of US$3.2 billion in 2023, translating to massive year-on-year drops from US$36.4 billion and US$18 billion, respectively.

Additionally, the company’s earnings before interest and taxes (EBIT) fell from US$18.5 billion in 2022 to US$2.7 billion in 2023 and earnings before interest, taxes, depreciation, and amortization (EBITDA) decreased from US$20.5 billion to US$4.8 billion.

Despite the significant declines...


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