- HHLA’s revenue rose 8.5% in Q1-Q3 2024, boosted by European network expansion.
- Modest gains in container handling and notable increases in container transport volumes.
- Higher-income from rail traffic and longer container dwell times led to revised financial year expectations.
Angela Titzrath, CEO of HHLA, remarked on positive growth due to European network expansion, stating, “HHLA is benefiting from its European network expansion, even in challenging conditions”, reports HHLA.
Container Handling and Transport Volume
Container handling increased by 0.9 percent to 4,496 thousand TEU, while transport rose 8.1 percent to 1,321 thousand TEU.
HHLA’s revenue rose 8.5 percent to €1,182.9 million, driven by higher storage charges and European expansion. EBIT increased by 23.2 percent to €93.2 million, with an EBIT margin of 7.9 percent. Profit after minority interests climbed to €23.1 million.
Navigating Global Challenges
Angela Titzrath highlighted ongoing global economic pressures but noted that European logistics expansion drove significant Intermodal growth in subsidiaries like Metrans and Roland Spedition.
Port Logistics revenue increased to €1,155.9 million. EBIT rose by 31.8 percent to €81.5 million, with a higher EBIT margin of 7.1 percent. Profit after tax rose to €16.3 million, translating to earnings per share of €0.22.
Container Segment Dynamics
The container segment saw a 0.9 percent growth in handling volumes. While traffic to the Far East declined, trade with North and South America, especially the United States, increased. Container throughput with other European ports and feeder traffic also grew.
International terminals achieved a 20.2 percent rise in handling volumes. Growth was attributed to HHLA TK Estonia and Container Terminal Odessa’s resumption of seaborne handling.
Intermodal Segment’s Volume Increase
HHLA recorded an 8.1 percent increase in container transport. Rail traffic grew by 10.2 percent, largely driven by growth in German-speaking areas, despite lower volumes with Adriatic and Polish ports. Road transport saw a slight decline of 4.1 percent.
HHLA’s Speicherstadt and fish market areas maintained high occupancy. Revenue fell 1.9 percent due to demolition costs at the fish market, affecting EBIT, which declined by 15.4 percent.
Revised Outlook for 2024 Financial Year
HHLA raised 2024 expectations with forecasts for a strong revenue increase and EBIT between €125 million and €145 million. Capital expenditure was adjusted to a lower range of €325 million to €375 million, focusing on Port Logistics investments.
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Source: HHLA
