Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber

You are using software which is blocking our advertisements (adblocker).

As we provide the news for free, we are relying on revenues from our banners. So please disable your adblocker and reload the page to continue using this site.
Thanks!

Click here for a guide on disabling your adblocker.

Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber

HHLA raises 2024 financial forecast amid strong performance in port logistics

Based on the preliminary and unaudited figures for the first nine months, Hamburger Hafen und Logistik AG (HHLA) is raising its forecast for the current financial year.

Despite the global challenges such as the economic weakness in Germany, the military conflict in the Middle East with its impact on shipping routes and the war in Ukraine, HHLA recorded a positive business performance in the first nine months of 2024. In particular, this was due to the strong increase in transport volumes and an overall strong revenue and earnings performance in the third quarter in the Port Logistics subgroup.

Against this background, a slight year-on-year increase in container throughput is now expected for the Port Logistics subgroup (previously: moderate increase) for the financial year 2024, while a significant increase is still expected in container transport. A strong increase in revenue is now anticipated (previously: significant increase). This is mainly due to the increase in revenue from rail transport. Against the backdrop of a higher revenue level resulting from temporarily longer container dwell times at the Hamburg terminals, the expectation for the operating result (EBIT) has also been raised and are now within a range between € 110 million and € 130 million (previously: € 70 million and € 100 million). Within this range, a strong year-on-year increase is expected for both the Container and the Intermodal segments in their respective segment EBIT results.

For the Real Estate subgroup, revenue and operating result (EBIT) are still expected to remain at the previous year's level.

Overall, a significant increase in revenue is still forecast at Group level. Against the background of the effects described above, the operating result (EBIT) is now expected to be within a range between € 125 million and € 145 million (previously: between € 85 million and € 115 million).

As result of delays in the implementation of investment projects, particularly in the Real Estate subgroup and the intermodal segment, which are mainly due to exogenous factors, capital expenditures at Group level are now expected to be at the lower end of the range between € 325 million to € 375 million (previously: € 400 million and € 450 million). The Port Logistics subgroup will account for most of this amount, representing a range between € 300 million and € 350 million (previously: € 360 million and € 410 million).

In view of the ongoing volatile environment, the outlook continues to be subject to considerable uncertainties.

HHLA will publish complete figures for January to September 2024 on Thursday, 14 November 2024, at 7.30 a.m.

For more information:
Carolin Flemming
HHLA
Tel: +49 40 3088-3503
Email: [email protected]
www.hhla.de

Publication date: