“Hamburger Hafen und Logistik AG has achieved a favourable performance in the first half of 2014. We have maintained our significantly expanded market position in container handling as well as the growth trend for our container transport services, with a further rise in market shares. This has enabled us to generate higher revenue and improve our earnings. Despite rising competitive pressure and continuing infrastructure restrictions, this is a highly significant development”, said Klaus-Dieter Peters, Chairman of HHLA’s Executive Board.
Far East traffic drives throughput growth
With growth of 2.1 per cent in throughput at its Hamburg container terminals, HHLA has consolidated its market position among Northern Europe’s major ports. However, the drop in container throughput at the HHLA terminal in Odessa as a result of the Ukrainian crisis caused the container segment to only enjoyed an 0.7 per cent growth to 3.8 million standard containers (TEU) in overall volumes in the first half of 2014. Feeder traffic via the Baltic region to Russia declined for the first time since 2009. On the other side, Far East traffic on existing liner services reported a sharp rise of 8.0 per cent compared to the figures o the first half of 2013.
HHLA hinterland strategy stays successful
HHLA’s hinterland services for container transport by road and rail enjoyed increased volumes of nine per cent to 633 thousand TEU in the first six months of 2014. The strong growth can mainly be attributed to the success of the newly established rail transport links in Germany, Austria and Switzerland set up in late 2012. Also, existing connections with the Czech Republic and Slovakia and traffic with the Polish seaports also reported an increase.
Forecast for 2014 confirmed
Based on the development in the first half of the year, HHLA confirms its expectation of a slight increase in container throughput in 2014 as a whole – provided that the current structure of freight flows remains unchanged. With regard to container transport, HHLA is aiming for growth that is well above the general market trend. Against this background, HHLA forecasts a moderate increase in revenue compared with the previous year’s adjusted figure (1.14 billion euro) and an operating result (EBIT) at group level of 138 million euro to 158 million. euro
A number of fundamental uncertainties continue to apply for the rest of the year. In particular, of the conflict in Ukraine and the development of economic relationships with Russia, but also in terms of progress in consolidating the container shipping segment. The restructuring of liner services entails both risks and opportunities.
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