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interim group management report I hapag-lloyd interim group report 9M · 2012
Despite the difficult market environment, Hapag-Lloyd’s consolidated revenue rose by EUR 656.3 million in
the first nine months of the 2012 financial year to EUR 5,160.1 million (prior year period: EUR 4,503.8 million).
This positive trend resulted from a 2.3% increase in the transport volume, which reached 3,963 TTEU, and
a rise in the average freight rate by 2.2% to USD 1,574/TEU. Exchange rate effects also helped. The average
USD/EUR exchange rate strengthened to USD 1.28/EUR (prior year period: USD 1.41/EUR).
Transport expenses
in million EUR Q3 2012 Q3 2011 9M 2012 9M 2011
Expenses for raw materials and supplies 380.7 331.0 1,234.9 921.3
Cost of purchased services 1,150.2 1,015.1 3,403.2 2,970.5
Transport expenses 1,530.9 1,346.1 4,638.1 3,891.8
Transport expenses climbed by a total of EUR 746.3 million (19.2%) in the first nine months of 2012 to
EUR 4,638.1 million. This increase resulted primarily from a 34.0% rise in expenses for raw materials
and supplies. During the reporting period, the average bunker price was USD 665 per tonne (prior year
period: USD 590 per tonne) – up approximately 13% on the same period of the previous year. The cost
of purchased services rose by 14.6%. This was due to cost increases associated with inflation, energy
prices and higher volumes and, in particular, the trend in the US dollar-euro exchange rate.
At EUR 174.4 million, other operating income for the first nine months of 2012 exceeded the figure of
EUR 111.7 million posted for the same period of the previous year. This rise was primarily attributable
to income of EUR 92.1 million from container sales in conjunction with an operating sale and leaseback
transaction. Other operating income also contained gains from derivatives for exchange rate risks.
Changes in the USD/EUR exchange rate caused period-specific exchange rate gains and losses to
decrease considerably in the period under review. This was reflected in other operating income and other
operating expenses. On balance, exchange rate-related income and expenses resulted in a drop in
earnings of EUR 28.3 million in the first nine months of 2012.
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