HHLA increase revenue despite challenging year

German logistics company Hamburger Hafen und Logistik AG (HHLA) defied the economic crises in Ukraine and Russia to increase revenue last year.

The economic difficulties in Ukraine and Russia combined with the slowdown in growth in the global economy and global trade made trading difficult in 2014, but HHLA was still able to achieve impressive operating results of €169m (US$190.9m), up 10% on the previous year.

HHLA’s chairman of the executive board, Klaus-Dieter Peters, said: “Our vertical group strategy proved to be so robust in 2014 that we were still able to generate above-average results even in a difficult operating environment, which included a further delay in the dredging of the river Elbe and the regional crises in Russia and Ukraine.”