Hapag-Lloyd enjoyed a near-doubling of ebit to €811m ($875m) in 2019, according to preliminary figures, but saw a softer fourth quarter.
Ebitda for the year was up 74% to €1.9bn for the shipping line, which said the biggest drivers of the change were improved freight rates and “rigorous cost and revenue management”.
Revenues were up 9% to €12.6bn, with the average freight rate over the year up 2.6%.
The company said it had …

The post Hapag-Lloyd 2019 profits soar as cost savings compensate for soft Q4 appeared first on The Loadstar.

Source: The Loadstar