Germany: HHLA Moves in Right Direction

HHLA Moves in Right Direction

The remaining transport companies of Hamburger Hafen und Logistik AG (HHLA) significantly increased their container transport by 21.1 % to 883 thousand standard containers (TEU) in the first nine months of the 2013 financial year.

This is primarily due to new connections within Germany, with Austria and with the Polish sea ports. Throughput volume at HHLA’s container terminals in Hamburg and Odessa also developed positively.

Despite a slight overall decline in volumes at competing ports, HHLA increased its container throughput by 5.1 % to 5.7 million TEU. The operating result (EBIT) was not able to follow volume growth due to continuing expenses for expansion and modernisation, which is necessary to handle the rising number of ever-bigger vessels, as well as burdens due to the flooding in early summer.

Compared to the previous year’s figure adjusted for one-off gains, EBIT decreased slightly to € 121.4 million. By contrast, Group revenue grew by 2.5 % to € 868.0 million.

The success of our Intermodal companies in a challenging environment is remarkable. The increase in container transport is primarily the result of our D.A.CH. strategy. We are expanding in the attractive markets of Germany (D), Austria (A) and, since October 2013, also in Switzerland (CH). The growth in transport volumes confirms our strategic approach. We are complementing our technological leadership with high levels of productivity in seaborne handling, by means of our own high-performance and cost-effective rail and road hinterland systems. Here we are increasingly focusing on our own rolling stock and inland terminals. In this way, we are not only gaining market share in the transport business, but are also bundling cargo flows for our container terminals. And it is not least because of this that we have been able to increase our container throughput in the last nine months despite the general market trend. Given the infrastructural restrictions that we and our customers continue to face, this is not something which can be taken for granted. Since the number of ever-bigger vessels grows, the delay in dredging the river Elbe – already long outstanding – poses us considerable challenges,” said Klaus-Dieter Peters, Chairman of the HHLA Executive Board.

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Press Release, November 13, 2013