Hamburger Hafen und Logistik AG (HHLA) started the 2021 financial year off strongly. Despite the continued influence of the coronavirus pandemic and the resulting global imbalances in transport flows, HHLA achieved a year-on-year increase of 26.4 percent in its Group operating result (EBIT) to € 46.3 million in the first quarter of 2021.
The positive business development was attributable to high storage fees as a result of continued shipping delays at the Port of Hamburg as well as a strong increase in container transport volumes. Whereas container transport rose by 10.7 percent in the first quarter, container throughput fell significantly by 6.6 percent in the first three months of the year compared with the prior-year period. The decrease is due to the loss of a Far East service at Container Terminal Burchardkai in May 2020. Conversely, the Real Estate subgroup posted significant decreases in both revenue and earnings. In total, Group revenue increased by 3.9 percent to € 348.7 million.
Angela Titzrath, Chairwoman of HHLA’s Executive Board: “HHLA remains commercially successful even in the face of the ongoing challenges associated with the coronavirus pandemic. Based on the course of business in the first three months of the year, we are optimistic that we will achieve our targets for the 2021 financial year. We continue to implement our strategy of strengthening the competitiveness and future viability of HHLA with determination and consistency."
"We are focusing on measures to carry out the restructuring programme in the Container segment. Our customers can count on us to ensure the safe and reliable flow of goods despite various influences on the supply chains. Our rail subsidiary Metrans once again made an outstanding contribution to the positive course of business in the first quarter. 30 years after its foundation, Metrans has every reason to be proud of what it has achieved.”
Port Logistics subgroup: performance January to March 2021
The listed Port Logistics subgroup recorded a 4.4 percent rise in revenue to € 342.0 million in the first three months of 2021. The operating result (EBIT) increased significantly by 33.4 percent to € 43.3 million. The EBIT margin improved by 2.8 percentage points to 12.7 percent.
In the Container segment, the throughput volume decreased by 6.6 percent in the first quarter of 2021 to 1,677 thousand standard containers (TEU). This was mainly due to the loss of a Far East service in mid-May 2020. Cargo volumes for Far East services subsequently decreased slightly, while volumes for Middle East services fell strongly. There were also significant decreases in the United Kingdom shipping region and in feeder traffic in the Baltic region.