Slide 1: Investor Presentation FY 2025 Results
Investor Presentation FY 2025 Results Hamburg, 26th of March 2026
Slide 2: FY 2025 highlights
FY 2025 highlights 1 HIGHLIGHTS INVESTOR PRESENTATION - FY 2025 FINANCIALS FLEET GEMINI TERMINALS M&A Solid FY results due Continued investments Very successful start Strong throughput Merger agreement to very strong volume in the modernization of the new Gemini growth due to portfolio signed with I
Slide 3: Our growing terminals portfolio is increasingly contributing to the success of our Liner business
Our growing terminals portfolio is increasingly contributing to the success of our Liner business 1 HIGHLIGHTS Progress of Strategy 2030 INVESTOR PRESENTATION - FY 2025 STRATEGIC DIRECTION Container Terminal Portfolio Growth Pure Play Plus Focus on Liner Shipping and Terminals LE HAVRE, FRANCE ▪ Acq
Slide 4: In 2025, our volume growth outperformed the market, especially on Gemini routes
In 2025, our volume growth outperformed the market, especially on Gemini routes 1 HIGHLIGHTS Progress of Strategy 2030 INVESTOR PRESENTATION - FY 2025 STRATEGIC DIRECTION Liner Shipping Volume Growth 2025 [TEU m] Pure Play Plus 8% HLAG Global 5% Market WHERE-TO-PLAY Top 5 Global Container Line Growt
Slide 5: Gemini ranks No. 1 in schedule reliability and customer satisfaction
Gemini ranks No. 1 in schedule reliability and customer satisfaction 1 HIGHLIGHTS Progress of Strategy 2030 INVESTOR PRESENTATION - FY 2025 STRATEGIC DIRECTION SeaIntel Schedule Reliability 10 Quality promises Pure Play Plus Gemini Cooperation Competitor Range launched 100% 95% 92% 91% 91% 92% 92% 9
Slide 6: We are driving the modernization and the decarbonization of our fleet
We are driving the modernization and the decarbonization of our fleet to ensure long-term competitiveness 1 HIGHLIGHTS Progress of Strategy 2030 INVESTOR PRESENTATION - FY 2025 STRATEGIC DIRECTION Annual Efficiency Ratio (AER) Pure Play Plus -19 % vs. 2022 7.36 g CO₂e/DWTnm WHERE-TO-PLAY 50 vessels
Slide 7: Cost savings are beginning to materialize, with full run-rate expected by year-end 2026
Cost savings are beginning to materialize, with full run-rate expected by year-end 2026 1 HIGHLIGHTS Progress of Strategy 2030 INVESTOR PRESENTATION - FY 2025 STRATEGIC DIRECTION Initiated cost savings measures ▪ Tangible cost savings Pure Play Plus already visible in Q4/25 Network ▪ Mainliner slot
Slide 8: ZIM transaction approval process initiated, with closing targeted for year-end 2026
ZIM transaction approval process initiated, with closing targeted for year-end 2026 1 HIGHLIGHTS Timeline: INVESTOR PRESENTATION - FY 2025 16 February Signing 30 April ZIM Extraordinary General Meeting Deal Rationale Proxy Statement issued ▪ Securing our global Top 5 position ▪ Access to efficient &
Slide 9: Solid FY 2025 results in a challenging rate environment
Group Solid FY 2025 results in a challenging rate environment 2 FINANCIALS FY 2025 Group Key Figures INVESTOR PRESENTATION - FY 2025 Transport Volume 13.5 M TEU PY: 12.5 M TEU Revenue EBITDA EBIT USD 21.1 bn USD 3.6 bn USD 1.1 bn PY: USD 20.7 bn PY: USD 5.0 bn PY: USD 2.8 bn Group Profit Free Cash F
Slide 10: FY 2025 earnings declined year-on-year as expected
Group FY 2025 earnings declined year-on-year as expected 2 FINANCIALS Revenue [USD bn] EBITDA [USD bn] INVESTOR PRESENTATION - FY 2025 +2% 26.7% 16.2% Margin 24.3% 17.1% -7% 5.4 20.7 21.1 5.0 -43% -28% 1.4 5.0 3.6 0.8 Q4 2024 Q4 2025 FY 2024 FY 2025 Q4 2024 Q4 2025 FY 2024 FY 2025 EBIT 1 [USD bn] Gr
Slide 11: Liner Shipping posted an EBIT of USD 1.0 bn in FY 2025
Liner Shipping Liner Shipping posted an EBIT of USD 1.0 bn in FY 2025 2 FINANCIALS INVESTOR PRESENTATION - FY 2025 Liner Shipping ▪ Strong volume growth of 8% YoY on the back Q4 2024 Q4 2025 FY 2024 FY 2025 of a very successful first year of Gemini Revenue 5,298 4,892 20,287 20,635 ▪ Revenue impacte
Slide 12: Lower average freight rates were partly offset by 8% volume growth
Liner Shipping Lower average freight rates were partly offset by 8% volume growth driven by the successful Gemini ramp-up 2 FINANCIALS Freight Rate Development [USD/TEU] Transport Volume Development by Trade [TTEU] INVESTOR PRESENTATION - FY 2025 FY 2024 FY 2025 Market Growth: +4.9% YoY 1,492 -7.7%
Slide 13: Cost base impacted by external factors and the launch of the new network
Liner Shipping Cost base impacted by external factors and the launch of the new network, while tangible cost savings begin to materialize 2 FINANCIALS Unit Cost Development [USD/TEU] INVESTOR PRESENTATION - FY 2025 Volume 12.5 13.5 [TEU m] ▪ Higher trade imbalances, fluctuating U.S. tariff +4% rates
Slide 14: Terminals saw strong throughput growth due to rising synergies
Terminal & Infrastructure Terminals saw strong throughput growth due to rising synergies between both business segments 2 FINANCIALS INVESTOR PRESENTATION - FY 2025 Terminal & Infrastructure Q4 2024 Q4 2025 FY 2024 FY 2025 ▪ Higher revenues were driven by strong throughput growth, which is the resul
Slide 15: We invested USD 1.7 bn in fleet and terminals and paid out USD 1.7 bn in dividends
Group We invested USD 1.7 bn in further fleet modernization, terminal expansion and paid out USD 1.7 bn in dividends 2 FINANCIALS Cash flow FY 2025 [USD m] INVESTOR PRESENTATION - FY 2025 Operating Investing Financing cash flow cash flow cash flow 2,854 -1,404 -3,063 8,539 -748 390 725 -1,794 3,602
Slide 16: Our balance sheet remains robust, with ample liquidity and a moderate leverage position
Group Our balance sheet remains robust, with ample liquidity and a moderate leverage position 2 FINANCIALS Equity [USD m] Net Debt [USD m] INVESTOR PRESENTATION - FY 2025 62% 62% Equity ratio 1,209 21,685 21,147 -946 31 Dec 2024 31 Dec 2025 31 Dec 20241 31 Dec 2025 Liquidity Reserve [USD m] Financia
Slide 17: We propose a dividend of EUR 3.00 per share to the AGM on May
We propose a dividend of EUR 3.00 per share to the AGM on 20 May 2 FINANCIALS Total dividend distribution [EUR m] INVESTOR PRESENTATION - FY 2025 11,073 6,152 1,626 1,441 615 527 2020 2021 2022 2023 2024 20251 DPS and payout ratio [EUR] 2 66% 68% 65% 55% 60% 57% 63.00 35.00 26/03/2026 9.25 8.20 3.50
Slide 18: Global container volumes are projected to remain robust
Global container volumes are projected to remain robust MARKET 3 Supply and Demand Projections [prior to Middle East conflict] INVESTTOR PRESENTATION - FY 2025 Container volume growth [TEU] Fleet capacity growth 10% 9% ▪ Demand growth forecast at 3% in 8% 7% 2026 6% ▪ Capacity growth expected to 4%
Slide 19: Middle East conflict – Impact on container shipping
Middle East conflict – Impact on container shipping We have suspended all transits through the OUTLOOK 4 Strait of Hormuz and Red Sea as well as bookings from and to the Upper Golf region ~3% INVESTOR PRESENTATION - FY 2025 By adjusting our network, we continue to offer of global container trade aff
Slide 20: Challenging start to the year expected, with substantial disruptions and uncertainties
Challenging start to the year expected, with substantial disruptions and uncertainties due to the situation in the Middle East OUTLOOK 4 INVESTOR PRESENTATION - FY 2025 Key assumptions FY 2026 FY 2025 ▪ The outlook reflects the soft freight rate Outlook environment at the start of the year USD 3,602
Slide 21: Priorities for 2026 & beyond
Priorities for 2026 & beyond The safety of our colleagues, vessels, and cargo remains our top priority INVESTOR PRESENTATION - FY 2025 Continue to deliver outstanding operational and service quality while expanding our digital offerings Advance the modernization and decarbonization of our fleet Stre
Slide 22: Appendix
Appendix
Slide 23: Equity ratio of 62.0%
Equity ratio of 62.0% APPENDIX Balance Sheet [USD m] Financial Position [USD m] INVESTOR PRESENTATION - FY 2025 million USD 31.12.2025 31.12.2024 million USD 31.12.2025 31.12.2024 Assets Financial debt and lease liabilities 7,509 6,868 Non-current assets 24,068 23,480 Cash and cash equivalents 4,085
Slide 24: Net profit of USD 1.0 bn in FY 2025
Net profit of USD 1.0 bn in FY 2025 APPENDIX Income Statement [USD m] INVESTOR PRESENTATION - FY 2025 million USD FY 2025 FY 2024 Change Revenue 21,051 20,673 2% Transport and terminal expenses –15,552 –13,916 12% Personnel expenses –1,297 –1,249 4% Depreciation, amortisation and impairment –2,529 –
Slide 25: Well balanced maturity structure of financial liabilities
Well balanced maturity structure of financial liabilities APPENDIX Financial Debt Profile as per 31 Dec 2025 1 [USD m] INVESTOR PRESENTATION - FY 2025 Facility 31 Dec 2025 [USD m] 2,036 Vessel Financings 2,294 1,918 Container Financings 509 628 Total Vessel & Container 2,803 541 EUR Bond 2024 353 1,
Slide 26: Disclaimer
Disclaimer APPENDIX Forward-looking statements INVESTOR PRESENTATION - FY 2025 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
Slide 27: Hapag-Lloyd Investor Relations
Hapag-Lloyd Investor Relations Ballindamm 25 20095 Hamburg Tel.: +49 (40) 3001-3705 ir@hlag.com All publication documents can be found here: https://www.hapag-lloyd.com/en/ir.html