The 2017 financial year has started well for Hamburger Hafen und Logistik AG (HHLA), a press release said Friday. At the end of the first quarter, the group’s key performance indicators are well above those of 2016. Revenue was up 7.1 per cent year-on-year at EUR 305.1 million and at EUR 45.2 million, the operating result (EBIT) was also above the 2016 figure of EUR 41.0 million. The profit after tax and minority interests increased by 34.4 per cent year-on-year to EUR 24.4 million. A significant increase in container throughput had a positive impact on the result. Around 1.8 million standard containers (TEU) were handled in the first quarter – 10.3 per cent more than in the same period in 2016. The trend of increased volumes since the second half of 2016 has continued.
Innovations and digitalisation leading to many opportunities
Commenting on business development in the first quarter of 2017, Angela Titzrath, Chairwoman of HHLA’s Executive Board, said: “In view of the positive forecasts and consistently strong upswing in Germany in particular, we remain confident about our future development.”
She added: “HHLA has solid foundations. This is due in part to the successful progress of negotiations held so far with shipping companies about their new schedules. We believe we have succeeded in securing steady demand for our container terminals from our customers.” The company is aware of risks that could quickly influence economic developments and have an impact on business. Titzrath noted: “On the other hand, we also see many opportunities in innovation and digitalisation.” Titzrath has been at the helm of HHLA since early 2017 and has stressed the company’s aspiration to be the engine of digital change in the port of Hamburg.
Forecast for 2017 updated
HHLA’s executive board has updated its forecast for the 2017 financial year, based on economic developments in Germany, the positive ongoing negotiations with the shipping company alliances and the improved predictability of volume developments for the remainder of the year. A group operating result (EBIT) between EUR 140 million and EUR 170 million is now expected (previously: EUR 130 million to EUR 160 million), while the port logistics subgroup is expected to generate a result between EUR 125 and EUR 155 million (previously: EUR 115 to EUR 145 million), both excluding possible one-off expenses of up to EUR 15 million.
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