German port and terminal operator Hamburger Hafen und Logistik AG (HHLA) recorded a drop in revenue and earnings in the 2023 financial year.
Economy burdened
HHLA said the ongoing war in Ukraine, geopolitical tensions, high inflation and interest rate hikes burdened the economy and continued to dampen the recovery from the pandemic.
Revenue decreased
The company’s revenue decreased by 8.3% to €1.45 billion and the operating result (EBIT) fell by 50.4% to €109.4 million with the EBIT margin amounting to 7.6%. Additionally, HHLA’s profit after tax and minority interests came to €20 million from €92.7 million in the previous year.
HHLA expects a moderate increase in revenue and an operating result (EBIT) in the range of €85 million and €115 million for the current year.
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Source: Containernews
