Hapag Lloyd: Set for Worst Day Ever After Outlook Cut

The Company cites "unexpectedly significant" and continuing increase in operational costs, especially with regard to fuel costs and charter rates

Hapg-Lloyd says that these developments cannot be fully offset by already initiated cost saving measures. The firm now sees an EBIT in a range between EUR 200 mln and EUR 450 mln and EBITDA of between EUR 900 mln and EUR 1,150 mln (previous forecast: both clearly increasing).

Additionally, FY 2017 EBIT came in at EUR 411mln, and EBITDA at 1,055 mln.