Annual Report 2025

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Interview

“Quality, sustainability, and efficiency will remain our focus.”

Rolf Habben Jansen, CEO

Interview

Executive Board

  • CEO

    Rolf Habben Jansen

    “2025 was a good year for Hapag-Lloyd with solid results. We have grown our volumes and outperformed the market, achieved record high customer satisfaction, and delivered 90% schedule reliability via our Gemini network – thereby setting a new benchmark in our industry.”

  • CIO & CHRO

    Donya-Florence Amer

    “Our academy and new leadership programs strengthened our learning and professional capabilities while the continued expansion of our Global Capability Center further improved our ability to scale digital expertise, innovation and operational excellence across the entire organization. Additionally, we invested significantly in our technological backbone, accelerated digitalization across key business areas and leveraged artificial intelligence to drive greater efficiency.”

  • CTIO

    Dheeraj Bhatia

    “We deepened synergies between liner shipping and terminal operations, unified our Latin America activities under the Hanseatic Global Terminals brand, and expanded our terminal portfolio with a new stake in a terminal in France and a greenfield investment in Brazil.”

  • CFO & CPO

    Mark Frese

    “We remained strongly focused on our prudent financial policy while sharpening our competitiveness and cost structure. At the same time, we significantly expanded our M&A activities, optimized our procurement processes, and accelerated our financial transformation.”

  • COO

    Dr. Maximilian Rothkopf

    “We further improved our operational quality with the launch of Gemini Cooperation while continuing to invest in fleet modernization, efficient vessels, new propulsion technologies, and alternative fuels. At the same time, we remained steadily committed to decarbonization and our ambitious course to achieve Net Zero Fleet operations by 2045.”

Team

Around 18,100 employees worldwide work for our company across all continents. Their diverse cultural, professional and personal backgrounds strengthen our performance and innovative capability and are a key success factor for Hapag‑Lloyd. In our interactions with one another, as well as in our collaboration with customers, business partners and the local communities in which we operate, we are guided by our shared corporate values:
“We Care. We Move. We Deliver.”

The safety and wellbeing of our employees are at the centre of our actions. Fair working hours, competitive remuneration and additional social benefits provide attractive and reliable conditions. We invest systematically in the development of our workforce, including through the continuous expansion of the Hapag‑Lloyd Academy and the targeted strengthening of leadership capabilities. The effectiveness of these measures is reflected in consistently high levels of employee satisfaction: the Employee Engagement Score once again reached an excellent 80 points.

Beyond our operational business, we assume responsibility for society and the environment. Through the Hapag‑Lloyd Cares initiative, we are involved worldwide in social and environmental projects. Our teams on the ground support, among other things, educational programmes, humanitarian aid and measures to protect the oceans, thereby making an active contribution to sustainable development.

  • 37%
    Percentage of women
    18,100 employees
    of which
    14,800 in the Liner Shipping
    segment, 3,300 in the Terminal &
    Infrastructure segment

Highlights of 2025

  • In a challenging market environment, we increased our transport volume by 8% to 13.5 million TEU. This was largely driven by the successful launch of the Gemini Cooperation, which has achieved an industry‑leading schedule reliability of 90% since its commencement in February 2025.
  • Gemini therefore makes a substantial contribution to our strategic ambition of being the quality leader in our industry. The success of our initiatives is also reflected in new all‑time highs in both customer and employee satisfaction.
  • As part of our Strategy 2030, we also strengthened our terminals business through acquisitions in France and Brazil and continued to invest consistently in the renewal and decarbonisation of our fleet.
  • The new United States tariff policy led to volatile developments in demand and freight rates in 2025. At the same time, persistent bottlenecks in key seaports and the continued security tensions in the Red Sea adversely affected operations.

Transport volume

13.5 million TEU (+8.2%)

EBITDA

EUR 3.2 billion
PY: EUR 4.6 billion

Group result

EUR 0.9 billion
PY: EUR 2.4 billion

Revenue

EUR 18.6 billion
PY: EUR 19.1 billion

EBIT

EUR 1.0 billion
PY: EUR 2.6 billion

Result per share

EUR 5.18
PY: EUR 13.57

Dividend per share

EUR 3.00
PY: EUR 8.20

Equity

EUR 18.0 billion
PY: EUR 20.9 billion

Equity ratio

62.2 %
PY: 62.1 %

Net debt

EUR 1.0 billion
PY: EUR -0.9 billion

Liquidity reserve

EUR 6.0 billion
PY: EUR 8.2 billion

Strategy

In the past financial year, we consistently advanced the implementation of our Strategy 2030. By improving service quality and schedule reliability, we further strengthened our core business in container shipping, thereby reinforcing our ambition to be the undisputed number one in quality for our customers. At the same time, we continued to modernise and decarbonise our fleet, expanded our global terminal network targeted investments and acquisitions, and provided key momentum for the digital development of our company.

Strategic Direction
Pure Play Plus
> 30 Terminals> 30% Inland share
Where-to-play
Top 5 Global Container Line
Growth slightly above market
How-to-win
Undisputed Number One for Quality
> 50 NPS1> 80% OTD2 on box-level#1 Digital CX3 vs. peers
Sustainability Driver
~1/3 absolute CO2 emissions reduction vs 2022
Top Performing Carrier
Top profitability-20% unit cost+30% FTE4 productivity

1 Net Promoter Score | 2 OTD = On-Time Delivery | 3 CX = Customer Experience |
4 FTE = Full-Time Equivalent

  • Pure Play Plus
  • Global Carrier
  • Quality
  • Sustainability
  • Performance

  • Pure Play Plus

    At the heart of our strategic positioning is the Pure Play Plus approach. This combines our clear focus on container shipping with the systematic development of a complementary terminal business. Under the Hanseatic Global Terminals (HGT) brand, our worldwide terminal activities were consolidated into a dedicated organisation. In 2025, we expanded the portfolio by acquiring a majority stake in Atlantique Container Terminal in Le Havre, France, and by entering into a joint venture to build a new terminal in Aracruz, Brazil. The portfolio currently comprises 24 equity investments in seaport terminals and is expected to grow to around 30 by 2030.

  • Global Carrier

    As a top five global carrier, our aim is to secure our position among the leading shipping companies and to grow profitably in attractive core markets. We differentiate ourselves through a strong value proposition across the dimensions of quality, sustainability and efficiency.

  • Quality

    To improve predictability, transparency and reliability for our customers, we published nine quality promises in the past financial year, against which we hold ourselves accountable. A key milestone in enhancing Gemini Cooperation with Maersk. Since February 2025, the innovative hub and spoke network, which links intercontinental East–West services with regional shuttles, has set a new industry benchmark for reliability, achieving schedule reliability of around 90%.

  • Sustainability

    As a driver of sustainability, we are pursuing the goal of reducing fleet emissions by one third by 2030 compared with 2022 and achieving net zero operations by 2045. To this end, we are consistently investing in the modernisation of existing vessels, the construction of highly efficient newbuilds and the use of alter native, low-emission fuels. Despite challenging conditions, we made significant pr ogress in the reporting year and further reduced the emission intensity of our fleet. With our Ship Green product, we also offer customers emissionreduced transport solutions, making decarbonisation along the supply chain tangible.

  • Performance

    As a top performing carrier, we continue to improve productivity and cost efficiency. In the past financial year, we therefore launched a comprehensive cost reduction programme, aimed in particular at achieving substantial savings within the network. At the same time, we are strengthening the capabilities of our teams, for example through the expansion of the Hapag-Lloyd Academy, and are advancing our transformation into a modern, agile organisation. Core IT systems are being gradually migrated to the cloud, while the application of artificial intelligence is unlocking new potential in management, planning and customer service. This will make us faster, leaner and more focused.

Gemini Cooperation

In February 2025, together with Maersk, we launched the Gemini Cooperation as a long-term operational partnership. The aim is to establish a fast and robust service network in the East–West trades with industry leading reliability. Despite challenging external conditions – including weather related supply chain disruptions and significant volume fluctuations resulting from uncertainties in global trade policies – the network achieved schedule reliability of around 90% in its first year of operation. This sets new standards for the industry.

The structural backbone of Gemini is a clearly defined hub and spoke model. Intercontinental mainline services call at a limited number of high-performance hubs, from which regional shuttle services serve the connected ports. The consistent separation of long haul and feeder services reduces operational complexity, shortens port stays and significantly enhances the stability and operational quality of the overall system.

57 services

57 services

between North America,
Europe and Asia

Gemini Network

Gemini Network

~340

~340

ships

~90%

~90%

schedule reliability

Sustainability

Sustainability is a core element of our Strategy 2030 and firmly embedded in our business model. We work on low emission transport solutions while at the same time assuming responsibility towards employees, business partners and society. A key focus is the decarbonisation of our fleet by 2045.

In 2025, the final five of a total of twelve ultra large container ships of the Hamburg Express class were commissioned. Thanks to their dual fuel propulsion systems, they can operate, among other fuels, on biomethane. By the end of the decade, around 50 vessels in our fleet will be equipped with alternative propulsion systems. At the same time, we are already among the largest users of biofuels in the industry and have concluded long term supply agreements for biomethane and green mmethanol. This enabled us to win the second tender of the Zero Emission Maritime Buyers Alliance (ZEMBA) in the reporting year as well.

Social responsibility is also firmly anchored: fair working conditions, health and safety, diversity and continuous training form the basis for high levels of employee satisfaction. At the same time, we consistently implement human rights due diligence obligations along the value chain. Sustainability is also an integral component of our governance processes. Transparent structures, clear responsibilities and the linkage of sustainability targets with Executive Board remuneration ensure long-term, responsible corporate governance.

Annual Efficiency Ratio (AER):
7.36 g CO₂e/DWTnm, 19% reduction compared to baseline 2022

Number of severe human rights
issues and incidents connected to
own workforce:

None

Share of female employees at
top management level:

21.4%

Functions-at-risk for bribery and corruption covered by training programs:

98.8%

Number of vessel-specific efficiency
measures: 339 implemented
since 2022, thereof 90 in 2025

Burned Biofuel blends of
204 k mt and 
15.8 k mt Biomethane

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