Hapag-Lloyd AG

HLAG: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€252.00	Zjmg	Sdjkfdxv

Initiating Coverage of Hapag-Lloyd With EUR 115 Fair Value Estimate

Benjamin Slupecki

Aug 23, 2024

Business Strategy and Outlook

Hapag-Lloyd boosted spending in the past three years across its business. In liner services, by far the dominant segment with 99% of revenue, the firm aims to grow capacity slightly faster than the market. The company is also investing outside of its core business to provide nonocean solutions to customers, including terminal services at ports and inland services once docked.

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