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Hamburger Hafen und Logistik AG raises forecast for financial year 2021

Hamburger Hafen und Logistik AG is raising its forecast for revenue and EBIT in the current fiscal year based on preliminary figures for the company’s performance during the first nine months of the year.

Extraordinary, non-recurring earnings effects in the Port Logistics subgroup were a significant factor in adjusting the annual forecast. In contrast to original assumptions, the ongoing disruptions in global supply chains and the associated massive ship delays also led to temporary significantly higher storage fees in the third quarter as a result of longer container dwell times at HHLA’s terminals in Hamburg.

In addition, a higher subsidy for route prices of € 11 million granted retroactively for 2020 by the German Federal Railway Authority made a positive contribution to the Port Logistics subgroup’s earnings.

For the Port Logistics subgroup, a moderate increase in container throughput is expected again, as is a significant increase in container transport compared to the previous year. HHLA now expects revenue for the 2021 financial year to come to around € 1,410 million (previously: significant increase compared to the previous year). Against the background of the aforementioned extraordinary earnings effects, the forecast for the operating result (EBIT) of the Port Logistics subgroup is being raised and will come to around € 190 million (previously: range of € 140 million to € 165 million).

The revenue and operating result (EBIT) of the Real Estate subgroup are expected to be on a par with the previous year’s level (previously: slight increase in revenue).

At the Group level, a strong increase in revenue compared to the previous year is expected. Revenue is expected to come to around € 1,450 million. The forecast for the Group operating result (EBIT) was raised in response to the positive developments in the Port Logistics subgroup and is now at around € 205 million (previously: range of € 153 million to € 178 million).

In the current financial year, planned asset additions for investments to further increases in productivity in the Container and Intermodal segments will be delayed until 2022 as a result of the ongoing disruptions in global supply chains. Investments of € 200 million are now expected at the Group level for 2021 (previously: range of € 250 to € 280 million). Around € 175 million of this is attributed to the Port Logistics subgroup (previously: € 220 million to € 250 million).

HHLA will publish complete figures for January to September 2021 on Thursday, 11 November 2021.

For more information:
Julia Hartmann
Hamburger Hafen und Logistik AG
Bei St. Annen 1
20457 Hamburg, Germany
Tel. +49 (0)40 3088-3397

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