Germany: Bright Future for HHLA
In the first half of 2013, Hamburger Hafen und Logistik AG (HHLA) increased its container throughput by 6.8 % to 3.8 million standard containers (TEU).
The volume handled by HHLA’s transport companies in the newly aligned Intermodal segment also rose significantly by 21.8 % to 581 thousand TEU. The operating result (EBIT), adjusted for one-off gains, increased slightly, but failed to match this volume growth due to continuing costs relating to modernisation and restructuring as well as the expenses associated with the flooding in the area of key hinterland connections.
Group revenue increased by 1.6 % to € 575.2 million.
“Hamburger Hafen und Logistik AG has achieved significant volume growth in both container throughput and container transport, and has therefore extended its market position. This is very remarkable, particularly in light of the challenging market conditions. The fact that the revenue and earnings trend hasn’t been able to fully match the increase in transport volumes can largely be attributed to this difficult business environment. For instance, we have incurred significant additional expenses due to the continuing delays in dredging the river Elbe. However, the volume growth confirms our strategy of combining a leading position in terms of the performance and technology of our terminals with our highly productive hinterland systems”, said Klaus-Dieter Peters, Chairman of the HHLA Executive Board.
Press Release, August 14, 2013