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HHLA’s revenue and earnings increase strongly due to temporary effects

The revenue and earnings of Hamburger Hafen und Logistik AG (HHLA) recorded a strong performance in the first nine months of the year. A temporary spike in storage fees as a result of longer container dwell times at HHLA’s terminals in Hamburg had a particularly positive effect. This was caused by the ongoing disruptions to global supply chains. In addition, HHLA benefited from strong growth in container transport volumes.

Against this backdrop, the Group operating result (EBIT) rose by 51.3 percent year-on-year to € 162.1 million. Despite a slight fall in revenue, the Real Estate subgroup increased its operating result (EBIT) slightly. Overall, the HHLA Group’s revenue rose by 12.4 percent to € 1,078.9 million in the reporting period (previous year: € 959.9 million).

Angela Titzrath, Chairwoman of HHLA’s Executive Board: “The ongoing, at times massive, ship delays are posing major challenges to our operations. Nevertheless, we are aware of our responsibility as a service provider for Germany as an industrialised nation. We are therefore working 24/7 at our facilities, with both equipment and personnel operating at high capacity, to ensure that companies and consumers receive their goods despite all the disruptions to global production and supply chains. We are operating on the basis that the difficulties will continue into 2022. Due to the ongoing coronavirus pandemic and weather-related effects, it is not possible to provide a precise forecast as to when supply chains will return to normal.”

Port Logistics subgroup: performance January to September 2021
The listed Port Logistics subgroup recorded a strong increase of 12.8 percent in revenue to € 1,057.5 million in the first nine months (previous year: € 937.4 million). The operating result (EBIT) rose year-on-year by 56.7 percent to € 151.3 million (previous year: € 96.6 million). The EBIT margin improved by 4.0 percentage points to 14.3 percent.

In the Container segment, the throughput volume at HHLA’s container terminals increased slightly by 1.6 percent to 5,165 thousand standard containers (TEU) (previous year: 5,086 thousand TEU). At 4,712 thousand TEU, throughput volume at the three Hamburg container terminals was up 1.3 percent on the same period last year (previous year: 4,654 thousand TEU).

The positive development of cargo volumes was largely due to the Far East as well as North and South America shipping regions. The acquisition of an additional feeder service for the Baltic region in the third quarter led to a marginal increase in volumes on feeder services in the reporting period compared with the previous year. Feeder services accounted for 20.0 percent of seaborne handling in the reporting period, which was the same level as in the previous year.

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