German carrier Hapag-Lloyd celebrated its 175th anniversary with an EBITDA of $20.5 billion (€19.4 billion) for the year ended 2022, an increase of 60 percent, on higher freight rates.

Revenues increased 38 percent to $36.4 billion (€34.5 billion) on increase in average freight rate to $2,863/TEU (2021: $2,003/TEU).

Fourth quarter revenue dropped to $8 billion and EBITDA declined to $3.8 billion on flat volumes of 2.9 million TEUs. Freight rate was marginally higher at $2,625/TEU compared to $2,577/TEU in Q42021.

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