Hapag-Lloyd made new deficit in 1st quarter

Hapag-Lloyd's operating result moved in the wrong direction in the 1st quarter 2014. The carrier's net result was weighed down by acquisition of Chilean CSAV.

Photo: Hapag-Lloyd

Major German container carrier Hapag-Lloyd, which recently merged with Chilean CSAV, finished the first quarter 2014 with an operating deficit of EUR 63.2 million, compared to a deficit of EUR 53.2 million in the same period last year.

According to a press release issued by the carrier, the net result was further weighed down by the acquisition of Chilean CSAV, which is included in the first quarter result even though it took place on April 16. The acquisition means that the net result decreased from a EUR 93.6 million deficit last year to a deficit of EUR 119.1 million in the first quarter this year.

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