HHLA exceeds revenue and EBIT expectation for 2021. Photo by HHLA
According to preliminary unaudited figures, Hamburger Hafen und Logistik AG (HHLA) increased its Group revenue by 12.7 percent to € 1.465 billion in the 2021 financial year (previous year: € 1.300 billion). The Group operating result (EBIT) increased by 84.7 percent year-on-year to € 228 million (previous year: € 124 million). Compared with the previous year, container throughput increased by 2.5 percent to 6,943 thousand TEU. Transport volumes increased by 10.0 percent to 1,690 thousand TEU.
Angela Titzrath, Chairwoman of HHLA’s Executive Board: “HHLA closed its second year in a row under the challenging conditions of the coronavirus pandemic with a positive operating result. Once again, HHLA proved to be a stable and efficient hub along the global supply chains that can always ensure the reliable supply of companies and consumers in Germany and Europe. In a market environment in a constant state of flux, we remain determined to implement the strategy geared towards growth and sustainability. As a leading European logistics company, we want to assert ourselves in the market and create new jobs.”
The listed Port Logistics subgroup generated revenue in the amount of € 1.436 billion (previous year: € 1.269 billion) and an operating result (EBIT) of € 213 million (previous year: € 110 million). The operating result from the previous year was influenced by additions to provisions amounting to € 43 million. Without these provisions, the operating result would have been € 153 million. The Port Logistics subgroup exceeded the revenue forecast for the year published in October with approximately € 1,410 million and an operating result in the region of € 190 million. Significantly higher storage charges during the year as a result of the ongoing disruptions to global supply chains and major ship delays, which led to longer container dwell times and additional container handling at HHLA’s terminals in Hamburg, had a positive effect on the development of our revenue and earnings in the financial year. In addition, a higher subsidy for route prices of approximately € 11 million granted retroactively made a positive contribution to the Port Logistics subgroup’s earnings.
With revenue remaining constant in the amount of € 38 million (previous year: € 38 million), the Real Estate subgroup recorded an increase in operating result (EBIT) compared with the previous year of 18.0 percent to € 15 million (previous year: € 13 million).
HHLA will publish complete figures for the 2021 financial year and a business forecast for the ongoing 2022 financial year at 7.30 a.m. on Thursday, 24 March 2022.
Source: Port of Hamburg
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