The following release was published by HHLA:
- HHLA’s CEO, Angela Titzrath: “For HHLA, 2024 continues to be characterised by a challenging market environment, which has affected earnings development in the first quarter in particular.”
- Container throughput increased by 3.3 percent to 1,464 thousand TEU (previous year: 1,416 thousand TEU)
- Container transport decreased by 5.5 percent to 386 thousand TEU (previous year: 408 thousand TEU)
- Group revenue came to € 363.6 million (previous year: € 364.7 million)
The revenue and earnings performance of Hamburger Hafen und Logistik AG (HHLA) declined in the first three months of 2024. The market environment continues to be affected by ongoing crises and rising geopolitical tensions, which are suppressing economic development around the world. In addition, the military conflict in the Red Sea resulted in major delays to shipping and cancellations in European ports at the start of the year, which also had an impact on hinterland transport. As a result, Group revenue decreased slightly in the first quarter by 0.3 percent to € 363.6 million (previous year: € 364.7 million). Price increases triggered by inflation and one-off effects from last year caused the Group operating result (EBIT) to decrease by 23.9 percent to € 17.4 million (previous year: € 22.9 million). The EBIT margin amounted to 4.8 percent (previous year: 6.3 percent). Profit after tax and minority interests came to € - 1.1 million (previous year: € 2.8 million).
Angela Titzrath, CEO of HHLA: “The start of HHLA in 2024 was made even more difficult by the disruptions in the supply chains due to the situation in the Red Sea and the challenging economic environment. Ships were delayed at the ports, which in turn affected HHLA’s container terminals and hinterland traffic. Despite the market uncertainties, HHLA has pushed ahead with its forward-looking transformation while investing in the expansion of its network and the modernisation of its facilities.”
Source: HHLA