Slide 1: Investor Presentation 9M 2021 Results
Investor Presentation 9M 2021 Results Hamburg, 12 November 2021
Slide 2: Opening Remarks
Opening Remarks 9M 2021 driven by continuing strong demand, infrastructure bottlenecks and high freight rates 1 Current developments Acquisition of NileDutch completed, voyage cut-over started in October 2021 Agreement signed for a participation in the JadeWeserPort in September 2021 Earnings contin
Slide 3: Waiting times and berth duration increased while terminal productivity decreased
1 Current developments Waiting times outside ports and average berth duration increased significantly while terminal productivity decreased… Average waiting times outside ports Jan 2020 – Sep 2021 [hours] North America1) North Europe1) Asia1) +301% +54% +146% Global port operations 9M 2020 vs 9M 202
Slide 4: Countermeasures to limit impact on customers and improve service quality
1 Current developments … we have therefore implemented many countermeasures to limit the impact on our customers and to improve service quality We moved capacity to high-demand trades and optimized our service network further We re-routed cargo through alternative gate-ways to bypass congested ports
Slide 5: NileDutch closed and JadeWeserPort investment
1 Current developments We have closed the transaction with NileDutch and will invest in the JadeWeserPort, which will strengthen our offering in Germany JadeWeserPort 30% stake in Container Terminal Wilhelmshaven (CTW) and 50% stake in Rail Terminal Wilhelmshaven (RTW) Strengthens position of German
Slide 6: Exceptionally strong result and strengthened balance sheet
2 Financials We have achieved an exceptionally strong result, further strengthened our balance sheet and earned our cost of capital Operational KPIs P&L effects Volume 8,980 Volume increased by 3.3% YoY as a result of overall Revenue 17,945 Very strong revenue increase (USD +7.4 bn) TTEU PY: 8,696 d
Slide 7: After a strong H1 2021, Q3 earnings improved even further
2 Financials After a strong H1 2021, Q3 earnings improved even further Revenue [USD m] EBITDA [USD m] +70.5% 21.5% 53.1% Margin 19.4% 45.5% 17,945 +6,119 +110.1% 8,163 10,525 +3,167 7,394 3,923 3,519 2,044 756 Q3 2020 Q3 2021 9M 2020 9M 2021 Q3 2020 Q3 2021 9M 2020 9M 2021 EBIT [USD m] Group Profit
Slide 8: Transport volumes increased by 3.3% YoY
2 Financials Transport volumes increased by 3.3% YoY, but were negatively impacted by the ongoing disruption of global supply chains Transport volume development by trade [TTEU] Q3 2020 vs. Q3 2021 9M 2020 vs. 9M 2021 Strong demand for exported goods from Asia led to an increase in global +3.3% tran
Slide 9: Freight rates increased strongly by ~66% YoY
2 Financials Freight rates increased strongly by ~66% YoY due strong demand and tight capacity situation but bunker costs are on a steady rise also Freight rate [USD/TEU] vs. Bunker price development [USD/mt] 9M 2020 9M 2021 1,097 +66% 1,818 +106% 2.234 1,714 1.509 Average freight rate 1.114 1.163 1
Slide 10: Operational challenges resulted in higher transport expenses per unit
2 Financials Operational challenges resulted in clearly higher transport expenses per unit Transport expenses per unit [USD/TEU] Bunker expenses increased by 8.2% 9M 2020 1,009 on the back of higher average bunker +118 / +12% consumption prices Bunker 11 Negative effects of operational disruptions,
Slide 11: Free cash flow surged to USD 6.6 bn
2 Financials Free cash flow surged to USD 6.6 bn Cash flow 9M 2021 [USD m] Operating Investing Financing cash flow cash flow cash flow 7,469 -871 -2,253 -694 -887 596 15 -1,284 -564 -209 5,766 -792 585 8.163 5.181 1,421 585 Free cash flow = USD 6,598 m 836 (9M 2020: USD 1,866 m) Liquidity reserve EB
Slide 12: Balance sheet ratios significantly improved
2 Financials Balance sheet ratios significantly improved – Net Debt further reduced by USD 4.3 bn while Net Leverage close to zero Equity base [USD m] Net debt [USD m] 44.3% Equity ratio 54.9% 6,305 Financial Debt 6,389 1.8x Net Debt / LTM EBITDA 0.1x 14,179 5,469 8,253 1,208 31 December 2020 30 Sep
Slide 13: GDP vs. global container volume growth
3 Market Update On the back of the economic recovery, global container transport volumes are expected to rise moderatley in the years to come GDP vs. global container volume growth [%] GDP Container volume growth 7.4% 4.9% 4.9% 4.0% 5.9% 4.1% 4.0% 3.5% 3.3% 4.8% 2.8% 3.8% 3.6% 3.6% 3.4% 1.9% 1.0% -0
Slide 14: Orderbook-to-fleet ratio at roughly 22%, idle fleet close to zero
3 Market Update Strong order activity since Q4 2020 drove orderbook-to-fleet ratio to roughly 22% but slowed down lately – idle fleet close to zero Global orderbook Newly placed orders [TEU m, %] Orderbook Share of world fleet [TEU m] Q4 Q3 Q2 Q1 4.0 56% 47% 35% 1.2 1.0 0.7 26% 26% 21% 20% 22% 19% 1
Slide 15: Recently ordered capacity only arrives in 2023/2024
3 Market Update Recently ordered capacity will only come into the market in 2023/2024 – Scrapping is expected to rise significantly in the years to come [Scheduled] vessel deliveries [Expected] scrapping Scrapping is likely [TEU m] [TEU m; % of world fleet] to pick up further 2,3 2,3 3.3% 2.0% 1.6%
Slide 16: FY 2021 EBITDA and EBIT outlook raised
4 Way forward Earnings momentum likely to remain very strong in Q4 – FY 2021 EBITDA and EBIT outlook raised Previous outlook for Updated outlook for FY 2020 FY 2021 FY 2021 Transport volume 11,838 TTEU Increasing slightly On previous year’s level Bunker 379 USD/mt Increasing clearly Increasing clear
Slide 17: How we look ahead
4 Way forward How we look ahead: Operational challenges Customer proximity and remain, normalization not expected before transparency is of utmost We will share with you importance H1 2022 our priorities until 2023 and beyond and present our Sustainability Strategy at our virtual Continue to follow
Slide 18: Q&A
Q&A 18
Slide 19: Appendix
Appendix 19
Slide 20: Equity ratio of 54.9% and gearing of 8.5%
A Appendix Hapag-Lloyd with an equity ratio of 54.9% and a gearing of 8.5% Balance sheet [USD m] Financial position [USD m] million USD 30.9.2021 31.12.2020 million USD 30.9.2021 31.12.2020 Assets Financial debt and lease liabilities 6,388.8 6,305.1 Non-current assets 16,699.1 15,508.3 Cash and cash
Slide 21: Strong EBIT of USD 6,937.9 m in 9M 2021
A Appendix Hapag-Lloyd with strong EBIT of USD 6,937.9 m in 9M 2021 Income statement [USD m] QoQ YoY million USD Q3 2021 Q2 2021 Q3 2020 Change change 9M 2021 9M 2020 Change Revenue 7,393.9 5,648.1 3,519.4 30.9% 110.1% 17,945.2 10,524.6 70.5% Transport expenses –3,158.6 –2,999.4 –2,486.1 5.3% 27.1%
Slide 22: Well balanced maturity structure of financial liabilities
A Appendix Well balanced maturity structure of financial liabilities Financial Debt Profile as per 30 September 20211), [USD m] Facility 30 September 2021 [USD m] Liabilities to banks Liabilities from lease and charter contracts Vessel Financings 2,135 Bonds Other financial liabilities 1,889 Contain
Slide 23: Freight rate development
A Appendix Freight rate development Comprehensive Index [USD/TEU] Shanghai – North Europe [USD/TEU] 6,000 CCFI Comprehensive Index SCFI Comprehensive Index 8,000 CCFI NEurope SCFI NEurope 7,637 7,000 5,000 4,536 6,000 5,426 4,000 5,000 3,285 3,000 4,000 3,000 2,000 2,000 1,000 1,000 0 0 Jan-19 Jul-1
Slide 24: Share price development
A Appendix Share price development Performance since 1 January 2021 Indexed Price Frankfurt Stock Exchange / 600% Stock Exchange Hamburg Stock Exchange 500% Regulated market Market segment (Prime Standard) 400% ISIN / WKN DE000HLAG475 / HLAG47 300% Ticker Symbol HLAG 200% Nov/16 Primary listing 6 No
Slide 25: Bond trading
A Appendix Bond trading 106 EUR Bond 2028 105 Open market of the Luxembourg Stock Listing Exchange (Euro MTF) 104 103,7 Volume EUR 300 m 103 ISIN / WKN XS2326548562 102 101 Maturity Date April 15, 2028 100 as of 15 April 2024: 101.375% Redemption 99 as of 15 April 2025: 100.688% Price as of 15 April
Slide 26: Shareholder structure
A Appendix Shareholder structure Shareholders’ agreement/ Controlling shareholders 3.6% 10,2% Kühne Maritime GmbH / Kühne Holding AG 30,0% CSAV Germany Container Holding GmbH 12,3% HGV Hamburger Gesellschaft für Vermögens- und Beteiligungsmanagement mbH 176 m shares Qatar Holding Germany GmbH The Pu
Slide 27: Financial Calendar 2022
Financial Calendar 2022 January 2022 Preliminary Financials FY 2021 March 2022 Annual Report FY 2021 May 2022 Quarterly Financial Report Q1 2022 May 2022 Virtual Annual General Meeting 2022 August 2022 Half-year Financial Report 2022 November 2022 Quarterly Financial Report 9M 2022 27
Slide 28: Disclaimer
Disclaimer Forward-looking statements This presentation contains forward-looking statements that involve a number of risks and uncertainties. Such statements are based on a number of assumptions, estimates, projections or plans that are inherently subject to significant risks, as well as uncertainti
Slide 29: Hapag-Lloyd Investor Relations
Hapag-Lloyd Investor Relations Ballindamm 25 20095 Hamburg Tel: +49 (40) 3001-2896 ir@hlag.com All publication documents can be found here: https://www.hapag-lloyd.com/en/ir.html 29