The complaints about escalating transport costs on container ships have become unmistakably loud - in the words of Hapag-Lloyd boss Rolf Habben Jansen, the same facts sound like this: "We can look back on an extraordinarily successful year," he said on the presentation of the 2021 balance sheet higher freight rates as a result of very strong demand for export goods from Asia, Hapag-Lloyd achieved a consolidated profit of 9.1 billion euros, almost ten times the previous year.

With sales of 22.2 billion euros, this results in a return on sales of 40 percent after taxes.

Measured against the operating result (Ebitda), the margin is even 48.7 percent.

Susanne Preuss

Business correspondent in Hamburg.

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At the end of this extraordinary financial year, Hapag-Lloyd has therefore completely reduced its net debt, the liquid funds (7.7 billion euros) exceeded the financial debt by 2.2 billion dollars.

30 percent of the unusual windfall is available to the company itself for investments and is also needed for this.

For example, Hapag-Lloyd has ordered additional ships that could lead to a corresponding increase in capacity.

There is also a lot to do in terms of sustainability, Hapag-Lloyd boss Habben Jansen indicated in a virtual press conference.

However, the lion's share of the profit goes to the shareholders in accordance with the previous dividend policy.

35 euros per share will be distributed, which corresponds to 13 percent of the current share price.

However, a look at the share price in recent years shows that it was not even three years ago that the Hapag-Lloyd share price was at the level of the current dividend payment.

"Yes, that's a very nice dividend," Frese said, "but we have a strong financial base."

High dividends for shareholders

Of the total distribution of 6.15 billion euros, 1.85 billion euros each go to the main shareholders, the Chilean shipping company CSAV and the logistics group Kühne, both of which hold 30 percent.

The 84-year-old Klaus-Michael Kühne, who is considered one of the richest entrepreneurs in Germany, made a name for himself this week because his KA Logistik Beteiligungen now has a 5 percent stake in Lufthansa.

At current rates, a 25 percent stake in Lufthansa could also be financed from the Hapag-Lloyd dividend alone.

The citizens of Hamburg also benefit from the high dividend.

Here 850 million euros flow for a block of shares of almost 14 percent.

Other major shareholders are Qatar with 12 percent and Saudi Arabia with 10 percent.

Only 3.6 percent of the shares are in free float.

"That's not the new normal," Habben Jansen said in anticipation of a possible sense of entitlement.

The fact that freight rates on the spot market have already become somewhat more volatile could be an indication that the situation is starting to normalize, he said.

Container shipping is currently characterized by the fact that transports cost many times what was usual before the corona pandemic.

At the same time, the containers usually reach their destination with a long delay.

"We have done everything possible to take countermeasures, but it has been very difficult for everyone in the industry," said Rolf Habben Jansen.

Every available ship was on its way, the Hapag-Lloyd workforce of around 14,000 employees was extremely tense.

"It's not healthy in the long term," says Habben Jansen.

The contract of the 55-year-old Dutchman, who has been in charge of the shipping company since 2014, has been extended by five years.

"The Supervisory Board is convinced that the company will continue its profitable growth under the successful leadership of Rolf Habben Jansen," said Michael Behrendt, Chairman of the Supervisory Board, in a company statement.

The contract of Chief Financial Officer Mark Frese, who has been a member of the Management Board since 2019, was also extended ahead of schedule until November 2027.

He is certified that he has done "excellent work" during this time and optimized the balance sheet structure.