By Mauro Orru

Hapag-Lloyd AG has raised its earnings guidance for the year amid high demand for container transport as disruptions in global supply chains continue to restrict capacity.

The German shipping company said Friday that earnings before interest, taxes, depreciation, and amortization for the year should range between 10.1 billion euros and 10.9 billion euros ($11.80 billion-$12.74 billion).

It previously targeted Ebitda between EUR7.6 billion and EUR9.3 billion.

Earnings before interest and taxes should come in between EUR8.7 billion and EUR9.5 billion, rather than between EUR6.2 billion and EUR7.9 billion as previously expected.

"Due to unabated global demand for container transports and the continuing disruptions in global supply-chains causing a shortage of available transport capacity, Hapag-Lloyd posted very strong financial results in the first nine months of 2021," the company said.

According to preliminary figures, Hapag-Lloyd's Ebitda in the third quarter jumped to EUR3.3 billion from EUR600 million last year, with EBIT up to EUR2.9 billion from EUR300 million.

The company will report final figures for the first nine months on Nov. 12.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

October 29, 2021 10:25 ET (14:25 GMT)

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