Ad hoc: HHLA records solid growth in an uncertain environment – tax-related one-off effects weigh heavily on net profit

In the listed Port Logistics subgroup, revenue increased by 10.1 percent to € 1,719 million (previous year: € 1,562 million). Operating result (EBIT) rose year-on-year by 22.8 percent to € 145 million (previous year: € 118 million). Overall, operating business development in 2025 was characterized by positive volume growth in handling and transport. Despite a slowdown in the second half of the year due to increasing global economic uncertainties and ongoing supply chain disruptions, as well as extensive modernisation measures to automate the Hamburg port facilities while operations continued, the business developed in an overall stable manner. By contrast, profit after tax and minority interests was heavily impacted by tax-related one-off effects – primarily impairments of deferred tax assets – and amounted to € 1 million (previous year: € 23 million). This corresponds to earnings per class A share of € 0.02 (previous year: € 0.32).

While revenue in the Real Estate subgroup remained at the previous year’s level at € 46 million, operating result (EBIT) declined by 4.4 percent to € 15 million (previous year: € 16 million). This was attributable to high one-off expenses for non-operating services in the third quarter, which could not be fully offset by the effects of increased rental income and reduced maintenance costs. Profit after tax and minority interests accordingly amounted to € 9 million (previous year: € 10 million). This corresponds to earnings per class S share of € 3.20 (previous year: € 3.52).