The German shipping company Hapag-Lloyd's share is rising strongly on the Frankfurt Stock Exchange, up over 7 percent in the initial Wednesday trading. A report on an unexpectedly strong result for the first half of the year and an increased profit forecast for the whole of 2024 is behind the price movement.
Strong demand for sea freight and upward pressure on freight prices are behind the tailwind for the shipping company, according to the report.
The shipping company's operating result for 2024 is now estimated at 1.2-2.2 billion euros. The previous forecast was 1.0 billion euros.
Hapag-Lloyd simultaneously estimates the operating profit from the first half of the year to 800 million euros.
Hapag-Lloyd includes a caveat in the preliminary interim report, which comes more than a month before the shipping company's planned reporting day for the half-year on August 14. Geopolitical challenges mean that the forecast is marked by a high degree of uncertainty, according to the shipping company.
