Hapag-Lloyd : Q3 results in line with preliminary figures. Neutral rating and target price raised to € 165
>Q3 results in line with preliminary figures - This morning, Hapag-Lloyd published its Q3 results. There were no major surprises in the figures which were fully in line with the preliminary data published three weeks ago. As such, group revenue over the quarter was € 5.26bn, up 28% y-o-y thanks to a favourable price environment (freight rate up 23% y-o-y) and a 3.8% y-o-y increase in volumes (in line with what we have seen since the beginning of the year). Profitabili...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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