Tuesday , 21 May 2019
Latest News

Rising volumes boost revenue at HHLA

Revenue at Hamburger Hafen und Logistik AG (HHLA) rose by 6.3% to €1.25bn (US$1.54bn) due to increased container throughput and container transport and successful management of the property portfolio.

Volumes rose by 8.1% to 7.2m teu last year at the largest terminal in the Port of Hamburg.

Operating profit (EBIT) increased by 5.6%, despite one-off expenses for an organisational restructuring and for the harmonisation of existing pension schemes.

The intermodal segment also made a significant contribution to HHLA’s performance.

Angela Titzrath, chairwoman of HHLA’s executive board, said: “With the agreed acquisition of the Estonian port operator Transiidikeskuse AS, we are pursuing our target of also achieving international growth.

“A target also served by the takeover of the remaining shares in Metrans.”

For 2018, HHLA expects container throughput to be on par with the previous year, with revenue at group level remaining static as well.

EBIT at the port logistics subgroup is expected to “rise markedly” with earnings driven largely by the container and intermodal segments.

Last year, the port logistics segment account for almost 98% of HHLA’s revenue.