Financial Year 2017 Starts Well for HHLA

The 2017 financial year has started well for Hamburger Hafen und Logistik AG (HHLA). At the end of the first quarter, the Group’s key performance indicators are mainly well above the previous year’s level. Revenue was up 7.1 % year-on-year at € 305.1 million and at € 45.2 million, the operating result (EBIT) was also above the prior-year figure of € 41.0 million. The profit after tax and minority interests increased by 34.4 % year-on-year to € 24.4 million. In particular, a significant increase in container throughput had a positive impact on the result.

“In view of the positive forecasts and consistently strong upswing in Germany in particular, we remain confident about our future development,” said Angela Titzrath, Chairwoman of HHLA’s Executive Board, explaining business development after the first quarter of 2017. “HHLA has solid foundations. This is due in part to the successful progress of negotiations held so far with shipping companies about their new schedules. We believe we have succeeded in securing steady demand for our container terminals from our customers.” The company remains nevertheless aware of risks that could quickly influence economic developments and have an impact on business, Ms Titzrath added. “On the other hand, we also see many opportunities in innovation and digitalisation,” said the Chairwoman of the Executive Board, who has been in charge since the beginning of the year, reiterating the company’s aspiration to be the engine of the digital change in the Port of Hamburg.

1.8 million standard containers (TEU) were handled in the first quarter – 10.3 % more than in the same period in 2016. The trend of increased volumes seen since the second half of 2016 therefore continued. This development at Hamburg’s container terminals was driven by a recovery in Far East volumes and significant growth in feeder traffic with the Baltic Sea ports. HHLA also achieved an increase in throughput of 5.4 % year-on-year at its Container Terminal Odessa in Ukraine.

The Intermodal segment also recorded further encouraging volume growth. The container transports of HHLA’s Intermodal companies increased by 8.4 % year-on-year to 370 thousand TEU in the first quarter of 2017. Both rail and road transport contributed to this growth.

The Executive Board of HHLA has updated its forecast for the 2017 financial year, based on economic developments in Germany, the positive ongoing negotiations with the shipping company alliances and the hence improved predictability of volume developments for the remainder of the year. A Group operating result (EBIT) in the upper half of a range between € 140 million and € 170 million is now expected (previously: € 130 million to € 160 million), while the Port Logistics subgroup is now expected to generate a result in the upper half of a range between € 125 and € 155 million (previously: € 115 to € 145 million), both excluding possible one-off expenses of up to € 15 million.

The Interim Statement is available at:
report.hhla.de/interim-statement-q1-2017