Slide 1: Investor Presentation H1 2024 Results
Investor Presentation H1 2024 Results Hamburg, 14 August 2024 Investor Presentation FY 2023 Results Hamburg, 14 March 2024
Slide 2: H1 2024 - Key Statements
1 Highlights H1 2024 - Key Statements The first half of 2024 was characterised by rising global demand and operational disruptions caused by attacks on vessels in the Red Sea. We have taken additional measures to meet the increased demand and to safeguard our customers' supply chains. Despite higher
Slide 3: Demand growth accelerated in May, leading to higher spot rates and some operational disruptions
1 Highlights Demand growth accelerated in May, leading to higher spot rates and some operational disruptions GLOBAL CONTAINER VOLUMES MARKET DEVELOPMENT [TEU m] H1 2023 2023 2024 H1 2024 ▪ Global container volumes were 17 83.6 TEU m +7.1% 89.6 TEU m up 7.1% in H1, with May and June 16 volumes the hi
Slide 4: Measures initiated to meet higher demand and mitigate disruptions
1 Highlights To meet higher demand and mitigate disruptions, we have initiated a range of measures Increased vessel speeds to reduce delays caused by rerouting Adjusted our network and moved capacity to high-demand trades Chartered additional vessels and deployed extra-loaders Ordered additional con
Slide 5: Strategic milestones: terminal business, fleet and new service offerings
1 Highlights In line with our strategic objectives, we strengthened our terminal business and continued to invest in our fleet and new service offerings STRATEGIC MILESTONES Newbuildings 3x 24k TEU Secured our global Top 5 position with the delivery of 6 newbuildings, bringing our vessel capacity to
Slide 6: Preparations for the new Gemini Cooperation are in full swing
1 Highlights Gemini for the new Gemini cooperation are in full swing – Preparations Detailed network information to be communicated in September Cooperation Start of Sales September 2024 Start of Booking December 2024 Start of Operations February 1, 2025 6 14 Aug 2024 Investor Presentation - H1 2024
Slide 7: Good operational performance in H1 2024 and solid balance sheet
2 Financial Performance We delivered a good operational performance in H1 2024 and maintained a very solid balance sheet H1 2024 GROUP KEY FIGURES Transport volume1 Revenue EBITDA 6.1 MTEU USD 9.5 bn USD 2.0 bn PY: 5.8 MTEU PY: USD 10.8 bn PY: USD 3.8 bn Free Cash Flow Net Liquidity Equity USD 0.5 b
Slide 8: Positive earnings trend continued in Q2 2024
2 Financial Performance Positive earnings trend continued in Q2 2024 – Prior year comparison distorted by extraordinary market environment REVENUE [USD m] EBITDA [USD m] +6% -12% 20.4% 21.0% Margin 34.8% 20.7% -48% +9% 4,623 4,892 10,847 9,516 3,775 942 1,028 1,969 Q1 2024 Q2 2024 H1 2023 H1 2024 Q1
Slide 9: Both operating segments recorded good profitability levels
2 Financial Performance Both operating segments recorded good profitability levels LINER SHIPPING TERMINAL & INFRASTRUCTURE USD m H1 2023 H1 2024 USD m H1 20231 H1 2024 Revenue 10,837 9,320 Revenue 12 217 EBITDA 3,749 1,898 EBITDA 26 71 EBITDA margin 34.6% 20.4% EBITDA margin n.m. 32.9% EBIT 2,736 8
Slide 10: Average freight rate recovered further in Q2 – Volume increase
2 Financial Performance Liner Shipping Segment Our average freight rate recovered further in Q2 – Volume increase driven mainly by exports from Asia FREIGHT RATE DEVELOPMENT [USD/TEU] TRANSPORT VOLUME DEVELOPMENT BY TRADE [TTEU] H1 2023 H1 2024 +3.2% +5.0% 1,761 -21% 1,391 3,060 6,097 2,964 5,807 51
Slide 11: Unit cost remain elevated due to Red Sea re-routings
2 Financial Performance Liner Shipping Segment Unit cost remain elevated due to Red Sea re-routings, resulting in higher bunker, transhipment and charter cost UNIT COST DEVELOPMENT Q2 2023 – Q2 2024 [in USD/TEU]1 Volume 3.0 3.1 3.0 3.0 3.1 [TEU m] Pre-Covid unit cost level +6% 1,269 1,256 1,281 1,20
Slide 12: Strong cash position maintained despite fleet investments and dividend
2 Financial Performance Strong cash position maintained despite fleet investments and dividend distribution in May CASH FLOW H1 2024 [USD m] Operating Investing Financing cash flow cash flow cash flow 1,373 -872 -2,392 -596 248 1,969 -1,120 6,435 -1,766 -470 -13 4,543 -143 Free cash flow = USD 501 m
Slide 13: Equity position and liquidity reserve: solid balance sheet ratios
2 Financial Performance With an equity position of USD 20 bn and a liquidity reserve of USD 7 bn the balance sheet ratios are very solid EQUITY [USD m] NET LIQUIDITY [USD m] 64.7% Equity ratio 62.1% 2,871 20,782 19,794 405 31 Dec 2023* 30 Jun 2024 31 Dec 2023* 30 Jun 2024 LIQUIDITY RESERVE [USD m] F
Slide 14: Inactive fleet at very low level – Vessel deliveries peaked in Q2
3 Market Update Inactive fleet at very low level, reflecting high demand – Vessel deliveries peaked in Q2 DEMAND GROWTH GLOBAL ORDERBOOK [TEU m; % of world fleet] 7% 27% 26% 4% 3% 22% 2% 18% -1% -4% 0% 10% 10% 7.1 7.1 5.4 5.3 2.4 2.4 2019 2020 2021 2022 2023 2024e 2025e 2019 2020 2021 2022 2023 2024
Slide 15: FY 2024 earnings outlook raised in July
4 Way Forward FY 2024 earnings outlook raised in July due to recent strong demand and increased short term freight rate level 15 May 2024 9 July 2024 Narrowed Current FY 2023 Healthy demand and FY 2024 Outlook FY 2024 Outlook higher standing capacity Transport should contribute to good 11,907 TTEU I
Slide 16: Priorities for 2024
4 Way Forward Priorities Continue to focus on network reliability to avoid disruptions and safeguard our customers' supply chains for 2024 Implement the new Strategy 2030 to boost growth, quality and emissions reduction Invest in the transformation of our fleet to propel the energy transition and ma
Slide 17: Appendix
Appendix 17
Slide 18: Equity ratio of 62.1%
Appendix Equity ratio of 62.1% BALANCE SHEET [USD M] FINANCIAL POSITION [USD M] million USD 30.6.2024 31.12.2023* million USD 30.6.2024 31.12.2023* 30.6.2023 Assets Financial debt and lease liabilities 6,190.5 5,608.9 5,492.6 Non-current assets 21,683.3 20,780.9 Cash and cash equivalents 4,542.8 6,4
Slide 19: Net profit of USD 0.8 bn in H1 2024
Appendix Net profit of USD 0.8 bn in H1 2024 INCOME STATEMENT [USD M] QoQ YoY million USD Q2 2024 Q1 2024* Q2 2023 Change change H1 2024 H1 2023 Change Revenue 4,892.5 4,623.4 4,819.0 5.8% 1.5% 9,515.8 10,847.1 –12.3% Transport and terminal expenses –3,412.6 –3,299.6 –3,070.2 3.4% 11.2% –6,712.2 –6,
Slide 20: Well balanced maturity structure of financial liabilities
Appendix Well balanced maturity structure of financial liabilities FINANCIAL DEBT PROFILE AS PER 30 JUNE 20241, [USD M] Facility 30 June 2024 [USD m] Vessel Financings 2,079 1.604 Container Financings 616 1.378 245 Total Vessel & Container 2,695 387 1.029 EUR Bond 2024 321 756 Total Bonds 321 769 75
Slide 21: Financial Calendar 2024
Appendix Financial Calendar 2024 January 2024 Preliminary Financials 2023 14 March 2024 Annual Report FY 2023 16 April 2024 Capital Markets Day 2024 30 April 2024 Annual General Meeting 2024 15 May 2024 Quarterly Financial Report Q1 2024 14 August 2024 Half-year Financial Report 2024 14 November 202
Slide 22: 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 23: 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 23