The HHLA Group’s overall risk position is determined largely by uncertainties surrounding the future development of the global economy and by strategic and market risks. Overall, there has been a slight increase in residual risks after taking countermeasures into account. This is due to the higher volumes being handled.

The risks identifi ed do not threaten the existence of the Group, either individually or as a whole. As far as the future is concerned, there are also no discernible risks at present which could jeopardize the continued existence of the company.

Opportunities

Thanks to its favourable geographical location, the Port of Hamburg is the leading international hub for seaborne and overland container transport close to the German North Sea coast. It also enjoys excellent hinterland links to the growing economies of Central and Eastern Europe and the Baltic states. If the planned enhancement of the river Elbe shipping channel is completed quickly, this will enable HHLA to maintain and extend its competitive position. The Intermodal segment will also benefi t from the growth in container handling. The shift in container traffic from road to rail could be accelerated by new environmental policies in the future. In addition to the above, HHLA continually assesses the extent to which strategically advantageous acquisition or investment possibilities are available.

Provided that there are no protectionist tendencies hampering world trade, the international division of labour in the production of consumer and capital goods will also continue in future. The Port of Hamburg’s integration into the global exchange of goods gives HHLA the chance to benefi t immediately from further developments in the global economy. Experts believe that the prerequisites for such a development are in place, thanks to the decisive response of politicians and central banks to market fl uctuations, the stabilization of financial markets and the expected further growth of the global economy.