HHLA profit falls below expectations as container volumes decline
Hamburger Hafen und Logistik AG (HHLA) saw its operating profit halved to €109m (US$118m), below the forecast range between €115-135m (US$124-146m), as challenging market conditions affected peformance for 2023.
Revenue also fell by 8% to €1.45bn (US$1.57bn) and container throughput across HHLA’s terminals declined by the same percentage to 5,917,000 teu, with geopolitical tensions and high interest cited as contributory factors.
The company’s Hamburg container terminals recorded a 6% decrease in throughput, while transport volumes fell by 5% to 1,602,000 teu.
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