According to preliminary figures, Hamburger Hafen und Logistik AG (HHLA) generated revenue of over € 1.1 billion and an operating result (EBIT) of approximately € 157 million in the 2015 financial year. This means that revenue went down approximately 5 percent on the previous year, while the operating result was approximately 7 percent lower than the previous year’s figure. The main reasons for these decreases were the economic crises in Russia and Ukraine, the considerable slowdown in economic growth in China and ongoing restrictions in the area of infrastructure, in particular due to the further delay in the dredging of the river Elbe.
According to preliminary unaudited figures, HHLA recorded Group revenue of € 1.14 billion (previous year: € 1.20 billion) and an operating result (EBIT) of approximately € 157 million (previous year: € 169 million). The Port Logistics subgroup, the company’s listed core business, generated revenue of approximately € 1.11 billion (previous year: € 1.12 billion) and reported an operating result (EBIT) of approximately € 141 million (previous year: € 156 million). HHLA will publish its final results for the 2015 financial year along with a guidance for 2016 on 30 March 2016.
“We recorded solid revenue and a respectable operating result in the 2015 financial year, despite an extremely difficult operating environment. However, the development of our revenue and earnings also shows that we cannot remain unaffected by global economic and geopolitical conditions. As well as the considerable slowdown in economic growth in China, we are continuing to feel the effects of the crises in Russia and in Ukraine, where we operate our Container Terminal Odessa. The resulting decrease in container throughput contrasts with an encouraging rise in our rail companies’ container transport. Even though the growth in transported volumes was unable to fully compensate for the drop in container throughput, it becomes clear once again that the strategic expansion of our rail activities was right and is by now making a significant contribution to the economic stability of our company,” says the Chairman of HHLA’s Executive Board, Klaus-Dieter Peters.
Container throughput at the three container terminals in Hamburg fell by 12.6 percent on the previous year to 6.3 million standard containers (TEU). By contrast, container throughout at the Container Terminal Odessa in Ukraine was only slightly lower than the previous year’s figure, coming in at 0.3 million TEU. Overall, container throughput decreased by 12.3 percent to approximately 6.6 million TEU (previous year: 7.5 million TEU). The performance of HHLA’s rail companies was much more encouraging. Their transport volume in European seaport-hinterland traffic rose again by more than 5 percent on the previous year’s strong figure and totalled 1.0 million TEU. Road transport, however, fell by just under 5 percent partially due to the challenging traffic conditions in the greater Hamburg area. In total, container transport by the HHLA Intermodal companies rose by 2.7 percent to 1.3 million TEU.