May 15, 2020 / 5:41 AM / 15 days ago

BRIEF-Hapag-Lloyd Sees Upper End Of FY Forecast Ranges To Be 'Barely Achievable'

May 15 (Reuters) - HAPAG LLOYD AG:

* GETS 2020 OFF TO A DECENT START DESPITE CORONAVIRUS PANDEMIC, BUT UNCERTAINTIES REMAIN FOR THE YEAR

* Q1 NET RESULT DECLINED TO APPROXIMATELY USD 27 MILLION (EUR 25 MILLION).

* Q1 EBIT) OF USD 176 MILLION (EUR 160 MILLION)

* Q1 EBITDA) DECREASED SLIGHTLY TO USD 517 MILLION (EUR 469 MILLION).

* STILL CONTINUES TO EXPECT EBITDA OF EUR 1.7 TO 2.2 BILLION AND EBIT OF EUR 0.5 TO 1.0 BILLION FOR CURRENT FINANCIAL YEAR

* FOR 2020 UPPER END OF FORECAST RANGES IS BARELY ACHIEVABLE FROM TODAY'S PERSPECTIVE

* Q1 REVENUES EUR 3,343 MILLION VERSUS EUR 3,063 MILLION YEAR AGO Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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