Hapag-Lloyd AG (HLAGF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to the Hapag-Lloyd Analysts and Investors H1 2026 Results Conference Call and Live Webcast. I'm Sörgen, the course call operator. Hapag-Lloyd is presented by CEO Rolf Habben Jansen and CFO Mark Frese. I would like to remind you that all participants will be in listen-only mode and the conference being recorded. The presentation will be followed by a Q&A session. You can register for questions at any time by pressing star and one on your telephone. For operator assistance, please press star and zero. The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Rolf Habben Jansen. Please go ahead, sir. Thank you very much. And from our side, a warm welcome. And thank you for making the time to join us here today. As always, we'll give you a quick introduction from our end between myself and Mark, and then we'll be happy to take any questions that you may have. I think if we look at the first half, I think we reported an unsatisfactory start to the year. I think our first quarter was really not good. Second quarter, definitely better. I think good performance on volume, quarter on quarter up quite a bit. Year-on-year also quite decent. Unit cost also improved. Rates came up a bit, but admittedly only late into the quarter, so the majority of that we will actually only see as from Q3. Of course, there was serious disruption in the Middle East, which caused quite a lot of cost. Cash effect of that around $600 million. What we see in the P&L is about two-thirds of that. Good throughput growth in our terminal business. A number of new investments announced. We continued working on the ZIN transaction where the shareholders have approved that transaction and now we are working through the regul...