Hamburger Hafen und Logistik AG grew its group revenue by 8.3 per cent while its operating result (EBIT) rose by 12.4 per cent, a press release said Wednesday (November 13, 2019). The company is expecting a marked rise for 2019 overall, moderate growth in the container segment and a strong increase in the intermodal segment. HHLA also improved profitability year-on-year in a challenging market environment.
Security crucial to future
Angela Titzrath, Chairwoman of HHLA’s Executive Board, commented: “As encouraging as our business trend is this year, we must still keep a realistic view of the changing conditions in which we operate. The challenges facing the entire transport and logistics industry remain significant. We are approaching these challenges with confidence and vigour and are continuing to work towards our aim and mission of making HHLA ready for the future. This means that we will strengthen our core business and tap into new, highly promising sectors.” Container throughput increased moderately at terminals in Hamburg after successfully integrating the Estonian terminal operator HHLA TK Estonia acquired in 2018. A significant increase in revenue across the logistics segment and a moderate increase in revenue from property management led to total revenue of EUR 1,044.6 million (+ 8.3 per cent). The operating result (EBIT) improved strongly by EUR 19.3 million or 12.4 per cent to EUR 175.4 million. The positive effects of the initial application of IFRS 16 in the EBIT amounted to approximately EUR 10.6 million.
Port Logistics’ subgroups
The listed Port Logistics subgroup recorded an 8.6 per cent increase in revenue to EUR 1,020.2 million in the first nine months of 2019 and was able to grow its operating result (EBIT) by 13.3 per cent to EUR 162.7 million. The EBIT margin improved by 0.6 percentage points to 15.9 per cent. Container throughput increased moderately by 4.0 per cent in the first nine months of 2019 to 5,730 thousand standard containers (TEU). As a result of the group’s performance in the first nine months of 2019, the HHLA Executive Board has updated its expected earnings for 2019 overall.
HHLA’s properties in the historical Speicherstadt warehouse district and the Fischmarkt area continued their positive trend. Revenue again increased moderately by 2.1 per cent year-on-year to EUR 29.9 million as a result of virtually full occupancy in both districts this year as well as in 2018. The increase in planned and implemented maintenance work was offset by revenue growth from properties in the Speicherstadt district.
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