Hapag-Lloyd : Final full-year results in line, conservative 2024 guidance. Neutral rating maintained
>Final full-year results with no surprises, dividend slightly below forecasts - Hapag-Lloyd reported this morning its final results for 2023, with no major surprises; the figures were perfectly in line with the preliminary data that came out on 29 January. As such, full-year revenues came to € 17.6bn, down 48% y-o-y, penalised by the 48% fall in freight rates to $ 1,500/TEU. Volumes in this regard were virtually stable at +0.5% y-o-y. Group EBITDA at € 4.46bn reflect...Hapag-Lloyd is a container liner shipping company. Co.'s core business is the shipping of containers by sea but also encompasses transport services from door to door. Co. transports hazardous goods by sea, road, rail, and inland waterway vessels; and provides reefer solutions to transport temperature-sensitive products, including perishable cargoes; and high value reefer cargoes, such as pharmaceuticals, healthcare products, and more. Co. also offers security information services; e-commerce solutions in the shipping industry; logistics services, such as pre-carriage and on-carriage transport services; and customs clearance services.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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