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Throughput growth drives strong half year for HHLA

Throughput growth drives strong half year for HHLA

Hamburger Hafen und Logistik AG (HHLA) recorded strong growth across the board in its half year results, largely prompted by a 12% increase in container throughput.

The group, which operates three terminals in Hamburg, posted revenue growth of 9% to €622.8m (US$729.5), while the Port Logistics subgroup’s operating result (EBIT) grew by just over 54% to  €90.6m ($106.046).

This makes up the lion’s share of the company’s total EBIT, which rose by 48% to €98.8m (US$115.6m).

The numbers of container handled, which grew to 3.6m teu, and a restructuring of the company’s logistics segment were both credited for the growth.

Angela Titzrath, chairwoman of HHLA’s executive board, said: “Following the reorganisation of the alliances of the shipping companies, HHLA managed to maintain its strong position in contested market environments.

“We are not just benefiting from ongoing positive economic developments in the world and in Germany; we are also profiting from our own service capability. HHLA took timely steps to prepare for this upswing by making targeted investments in our facilities.”

A 16% increase in traffic on Asian routes and a 22% growth in feeder traffic with Baltic Sea ports drove the increase in throughput, and revenue in the container segment rose by 10.6% to €372.3m (US$435.816m) as a result.  

The group’s intermodal companies also recorded significant growth, with volumes up to 744,000 teu. Rail transportation rose by 5.9% to more than 568,000 teu, while road transport volumes grew by 11.8% to more than 176,000 teu.

The positive half year results have led the HHLA to update its forecast for the 2017 financial year. EBIT is now anticipated to come in between €150m (US$175.6m) and €170m (US$199m), which includes a possible one-off expense of up to €15m (US$17.6m) for reorganisation in the container segment.

Previously forecasts for EBIT fell between €140m (US$164m) and €170m (US$199m), however this excluded the same one-off expense.