HHLA takes an economic hit in first nine months of 2023
Hamburger Hafen und Logistik AG’s (HHLA) revenue, earnings and container throughput have declined in the first nine months of 2023 due to the ongoing war in Ukraine, geopolitical tensions, inflation and rising interest rates.
Overall revenue for the HHLA group dropped by 7% to €1.09bn (US$1.2bn), while group operating profit decreased 53% to €75.6m (US$82m).
HHLA’s port logistics subgroup performance from January to September 2023 recorded a decrease of 7% in revenue to €1.06bn (US$1.2bn) with profit after tax and minority interests dropping by 95% to €3.1m (US$3.4m).
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