According to preliminary data, Herbert's EBIT in fy2019 increased significantly to EUR 811 million (2018: EUR 444 million). EBITDA increased to EUR 1.986 billion (2018:. The main driving force of positive business development is based on the improvement of freight and strict cost and revenue management. Performance in 2019 includes the impact of the first application of IFRS 16 accounting standards, which has a statistical impact on EBIT of about 31 million euros and EBITDA of about 467 million euros. In the fourth quarter of 2019, EBITDA of EUR 475 million (Q4 2018: EUR 327 million) and EBIT of EUR 169 million (Q4 2018: EUR 144 million) were also higher than the same period last year.
Revenue increased by about 9% to 12.6 billion euros in fy19f (2018: 11.6 billion euros). This is mainly due to the annual average freight increased to 1072 USD / TEU, an increase of 2.6% (2018: 1044 USD / TEU), which is the result of our more attention to profit routes and active revenue management. In addition, the transportation volume increased by 1.4% year-on-year to 12 million TEUs (2018: 11.9 million TEUs), and the stronger exchange rate between the US dollar and the euro also contributed positively to the revenue. The decrease in container handling and inland transportation costs and the slightly lower average fuel oil consumption price of 416 US dollars per ton (2018: 421 US dollars per ton) have a positive impact on transportation costs, with a total increase of 9.7 billion euros (2018: 9.6 billion euros). In addition, the strength of the US dollar has also played a role.
Herbert will issue the 2019 annual report and current financial year outlook on March 20, 2020.