Slide 1: Investor Presentation 9M 2024 Results
Investor Presentation 9M 2024 Results Hamburg, 14 November 2024 Investor Presentation FY 2023 Results Hamburg, 14 March 2024
Slide 2: 9M 2024 - Key Statements
1 Highlights 9M 2024 - Key Statements The first nine months of 2024 were characterised by good demand and renewed disruptions due to the tense security situation in the Red Sea Despite elevated transport cost, quarterly results in the Liner and Terminal businesses started to improve clearly, leading
Slide 3: Global container volumes surprised to the upside
1 Highlights Global container volumes surprised to the upside, mainly due to strong exports out of Asia and higher consumption in North America GLOBAL CONTAINER VOLUMES [TEU m] MARKET DEVELOPMENT 9M 2023 2023 2024 9M 2024 128.6 TEU m +6.3% 136.7 TEU m ▪ Global container volumes have 17 risen by 6.3%
Slide 4: New Gemini network built around the Cape of Good Hope
1 Highlights We have decided to build the new Gemini network around the Cape of Good Hope - bookings to start in December CAPE NETWORK ~340 ~3.7 TEU M 57 SERVICES VESSELS CAPACITY TODAY 2 10 Network aligned WEEKS WEEKS until the start of until we start Bookings Operations Our Key Priority: Keeping o
Slide 5: Ordered 24 state-of-art dual-fuel LNG vessels
1 Highlights To support our growth ambitions, improve competitiveness and reduce emissions, we ordered 24 state-of-art dual-fuel LNG vessels NEW WORKHORSES VERSATILE MID-SIZED VESSELS Hapag-Lloyd Hapag-Lloyd Dual-Fuel LNG (ammonia ready) Dual-Fuel LNG (ammonia ready) 12 x 16.8k TEU 12 x 9.2k TEU del
Slide 6: Improving operational performance, good cash generation, strong balance sheet
2 Financial Performance Improving operational performance resulted in good cash generation and strong balance sheet 9M 2024 GROUP KEY FIGURES Transport volume1 Revenue EBITDA 9.3 MTEU USD 15.3 bn USD 3.6 bn PY: 8.9 MTEU PY: USD 15.3 bn PY: USD 4.5 bn Free Cash Flow Net Liquidity Equity USD 1.7 bn US
Slide 7: 9M 2024 revenue stable but results impacted by higher transport costs
2 Financial Performance 9M 2024 revenue stable but results impacted by higher transport costs – Quarterly earnings improved clearly REVENUE [USD m] -0.2% EBITDA [USD m] 21.0% 28.1% Margin 29.5% 23.5% 15,312 15,283 -21% 4,520 +18% 3,592 +58% 5,767 4,892 1,623 1,028 Q2 2024 Q3 2024 9M 2023 9M 2024 Q2
Slide 8: Both segments delivered strong earnings growth in Q3 2024
2 Financial Performance Both segments delivered strong earnings growth in Q3 2024, supported by improved volumes and pricing LINER SHIPPING TERMINAL & INFRASTRUCTURE USD m Q3 2023 Q3 2024 9M 2023 9M 2024 USD m Q3 20231 Q3 2024 9M 20231 9M 2024 Revenue 4,392 5,668 15,230 14,988 Revenue 80 110 92 327
Slide 9: Increased average freight rate in Q3 and grew volumes
2 Financial Performance Liner Shipping Segment We managed to further increase our average freight rate in Q3 and grow our volumes – which was mainly driven by Transpacific and Far East FREIGHT RATE DEVELOPMENT [USD/TEU] TRANSPORT VOLUME DEVELOPMENT BY TRADE [TTEU] 9M 2023 9M 2024 +4.6% 1,604 -9% 1,4
Slide 10: Unit cost remain elevated due to Red Sea re-routings
2 Financial Performance Liner Shipping Segment Unit cost remain elevated and impacted by Red Sea re-routings and operational disruptions in ports UNIT COST DEVELOPMENT Q3 2023 – Q3 2024 [in USD/TEU]1 Volume 3.1 3.0 3.0 3.1 3.2 [TEU m] Pre-Covid unit cost level 1,269 1,256 1,281 1,298 1,222 Bunker &
Slide 11: Free cash flow generation at a good level despite investments
2 Financial Performance Free cash flow generation at a good level despite continued investments in vessels and higher container purchases CASH FLOW 9M 2024 [USD m] Operating Investing Financing cash flow cash flow cash flow 3,096 -1,435 -2,936 -496 355 9,204 725 -1,790 3,592 7,988 2,044 725 RCF -1,7
Slide 12: Equity of USD 21 bn and liquidity reserve of USD 8 bn
2 Financial Performance With an equity position of USD 21 bn and a liquidity reserve of USD 8 bn the balance sheet ratios remain very solid EQUITY [USD m] NET LIQUIDITY [USD m] 64.7% Equity ratio 61.9% 20,782 20,857 2,871 817 31 Dec 2023* 30 Sep 2024 31 Dec 2023* 30 Sep 2024 LIQUIDITY RESERVE [USD m
Slide 13: Container volumes on a TEU-mile basis grown exceptionally
3 Market Update Container volumes on a TEU-mile basis have grown exceptionally while inactive fleet remains low and charter rates on elevated levels SUPPLY & DEMAND INACTIVE FLEET [in TEU m] Container volume growth [TEU] Share of inactive fleet Idle fleet Ships in drydock 3.1% Container volume growt
Slide 14: Increased orders driven by market growth, fleet renewal, emissions regulations
3 Market Update Increased orders driven by market growth, fleet renewal needs, and stricter emissions regulations GLOBAL ORDERBOOK FLEET AGE ANALYSIS [TEU m; % of world fleet] Orderbook Orderbook to fleet ratio Capacity older than 25 years [TEU m]1 Current orderbook [TEU m] 7.8 7.8 7.8 7.8 7.8 7.8 7
Slide 15: FY 2024 earnings outlook raised again in October
4 Way Forward FY 2024 earnings outlook raised again in October due to stronger than expected demand and improved freight rates Updated 24 October 2024 Previous Current Operational performance FY 2023 in 9M 2024 was stronger FY 2024 Outlook FY 2024 Outlook than initially expected Transport volume 11,
Slide 16: Priorities for 2024 & beyond
4 Way Forward Priorities Take care of our people and invest in their capabilities for 2024 Ensure a successful start of the Gemini Cooperation with a seamless & beyond transition to the new network structure Continue to implement the new Strategy 2030 with focus on growth, quality and sustainability
Slide 17: Appendix
Appendix 17
Slide 18: Equity ratio of 61.9%
Appendix Equity ratio of 61.9% BALANCE SHEET [USD M] FINANCIAL POSITION [USD M] million USD 30.9.2024 31.12.2023* million USD 30.9.2024 31.12.2023* 30.9.2023* Assets Financial debt and lease liabilities 6,446.5 5,608.9 5,822.3 Non-current assets 22,502.0 20,780.9 Cash and cash equivalents 5,158.1 6,
Slide 19: Net profit of USD 1.8 bn in 9M 2024
Appendix Net profit of USD 1.8 bn in 9M 2024 INCOME STATEMENT [USD M] QoQ YoY million USD Q3 2024 Q2 2024 Q3 2023* Change change 9M 2024 9M 2023* Change Revenue 5,766.9 4,892.5 4,464.5 17.9% 29.2% 15,282.7 15,311.6 –0.2% Transport and terminal expenses –3,683.3 –3,412.6 –3,303.0 7.9% 11.5% –10,395.5
Slide 20: Well balanced maturity structure of financial liabilities
Appendix Well balanced maturity structure of financial liabilities FINANCIAL DEBT PROFILE AS PER 30 SEPTEMBER 20241, [USD M] Facility 30 Sep 2024 [USD m] 1,729 Vessel Financings 1,932 245 1,412 Container Financings 588 1,252 Total Vessel & Container 2,520 350 EUR Bond 2024 336 881 493 870 Total Bond
Slide 21: 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 22: 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 22