Key Points – Q1 2026 was weaker than expected for Hapag-Lloyd, with revenue falling to $4.9 billion, EBITDA dropping to $494 million, and an EBIT loss of $157 million.
Management blamed severe weather, weak Atlantic trade, and higher costs tied to Middle East tensions, while keeping the full-year outlook unchanged. – Middle East disruptions are raising costs sharply, with CEO Rolf Habben Jansen estimating an impact of EUR 50 million to EUR 60 million per week
The company is trying to recover some of those expenses through surcharges, but rerouting and congestion are adding pressure across the network. – Despite the weak quarter, some parts of the business improved, including terminal throughput and EBITDA in the Terminal & Infrastructure segment. Hapag-Lloyd also said ZIM merger approvals are moving forward, with closing still expected in the fourth quarter of 2026. Hapag-Lloyd Aktiengesellschaft (ETR:HLAG) reported a weaker first quarter of 2026, with management describing the start to the year as “unsatisfactory” as severe weather, weak Atlantic trade and higher costs tied to Middle East tensions weighed on results.
Chief Executive Officer Rolf Habben Jansen said the company “would have hoped for a better quarter,” citing adverse weather in Northern and Southern Europe during January and February, along with similar disruptions on the U.S. East Coast. He said Hapag-Lloyd’s exposure to those markets meant it was “hit harder than most.” The company kept its earnings outlook unchanged, while emphasizing that uncertainty remains elevated compared with prior years.