• 2019 November 13 14:16

    HHLA reports 4% growth in container volume to 5.7 million TEUs, revenue up 8.3% to 1 bn euros in Jan-Sept, 2019

    Hamburger Hafen und Logistik AG (HHLA) continued its positive performance in the first nine months of 2019. The company recorded another significant increase in revenue and saw strong growth in its operating result. It was again possible to improve profitability year-on-year in a challenging market environment. Container throughput increased moderately due to the successful integration of the Estonian terminal operator HHLA TK Estonia, which was acquired last year, and improved slightly at the Hamburg terminals. A significant rise in container transport was achieved. Including a significant increase in revenue from the Logistics segment and a once again moderate increase in revenue from property management, this led to total revenue of € 1,044.6 million (+ 8.3 percent). The operating result (EBIT) improved strongly by € 19.3 million, or 12.4 percent, to € 175.4 million. The positive effects of the initial application of IFRS 16 in the EBIT amounted to approximately € 10.6 million, the HHLA said in its interim statement.

    Angela Titzrath, Chairwoman of HHLA’s Executive Board: “As encouraging as our business trend is this year, we must still keep a realistic view of the changing conditions in which we operate. The challenges facing the entire transport and logistics industry remain significant. We are approaching these challenges with confidence and vigour and are continuing to work towards our aim and mission of making HHLA ready for the future. This means that we will strengthen our core business and tap into new, highly promising sectors.”

    Port Logistics subgroup: Performance January to September 2019

    The listed Port Logistics subgroup recorded an 8.6 percent increase in revenue to € 1,020.2 million in the first nine months. It was able to grow its operating result (EBIT) by 13.3 percent to € 162.7 million. The EBIT margin improved by 0.6 percentage points to 15.9 percent.

    In the Container segment, container throughput increased moderately by 4.0 percent in the first nine months of 2019 to 5,730 thousand standard containers (TEU). In addition to the successful integration of the terminal in Tallinn, there was also a small improvement in throughput volume in Hamburg which contributed to this development. Due to the increase in volume combined with an improvement in average revenue compared to the previous year, revenue increased by 6.0 percent to € 605.5 million. This was caused primarily by an increase in the rail share. The operating result (EBIT) increased by € 9.7 million or 9.4 percent year-on-year to € 112.6 million. Of this increase, approximately € 8.0 million is attributable to the application of IFRS 16. The EBIT margin improved by 0.6 percentage points to 18.6 percent.

    In the first nine months of 2019, HHLA’s transport companies achieved significant growth in the Intermodal segment. With an increase of 7.8 percent, container transport rose to 1,184 thousand standard containers (TEU). This trend was driven by growth in both rail and road transport. Compared with the previous year, rail transport increased by 7.6 percent to 930 thousand TEU. In a market environment that remains difficult, road transport grew by 8.8 percent to 254 thousand TEU due to the strong increase in delivery volumes. At € 367.9 million, revenue was up 13.5 percent on the prior-year figure and thus performed much better than transport volume. In addition to price adjustments, this strong increase in revenue was due in particular to longer transport distances, while the rail share was largely unchanged from the previous year at 78.5 percent. The operating result (EBIT) rose by 16.5 percent to € 76.1 million in the reporting period. This marked increase is primarily due to the positive trend in volume and revenue. Additionally, lower route prices in Germany made it possible to increase further the capacity utilisation of train systems. The application of IFRS 16 did not have a major impact on the positive EBIT trend.

    Port Logistics subgroup: Outlook

    As a result of the Group’s performance in the first nine months of 2019, the HHLA Executive Board is updating its assessment of expected earnings for the Group in 2019. In terms of volume, HHLA now expects a moderate increase in container throughput (previously: slight increase) and a significant increase (previously: slight increase) in container transport. In light of these figures, a significant increase (previously: slight increase) in Group revenue is now expected for 2019.

    Whereas HHLA continues to expect a significant increase in operating result (EBIT) at Group level, a moderate increase is now expected for the Container segment (previously: in the region of the previous year) and a strong increase for the Intermodal segment (previously: significant increase).

    Real Estate subgroup: Performance January to September 2019 and outlook HHLA’s properties in the Speicherstadt historical warehouse district and the Fischmarkt area continued their positive trend. Revenue again increased moderately by 2.1 percent year-on-year to € 29.9 million as a result of virtually full occupancy in both districts this year as well as last year.

    The increase in planned and implemented maintenance work was offset by revenue growth from properties in the Speicherstadt historical warehouse district. The slight increase of 1.3 percent to € 12.5 million in the operating result (previous year: € 12.3 million) can mainly be attributed to the implementation of IFRS 16. The operating result (EBIT) for the Real Estate subgroup is still expected to be around € 15 million due to large-scale maintenance work scheduled for 2019 that does not qualify for capitalisation.

    About HHLA

    Hamburger Hafen und Logistik AG (HHLA) is a leading European logistics company. With a tight network of container terminals in Hamburg, Odessa and Tallinn, excellent hinterland connections and well-connected intermodal hubs in Central and Eastern Europe, HHLA represents a logistics and digital hub along the transport flows of the future. Its business model is based on innovative technologies and is committed to sustainability.




2019 December 15

16:41 Coast Guard reopens La Quinta Channel near Ingleside, Texas
15:22 Total moves forward on two deepwater projects in the U.S. Gulf of Mexico
14:05 SAL Heavy Lift becomes world’s first to equip vessels with new hydrogen / methanol injection technology
13:16 Nauticor’s "Kairos" received the first LNG bunker license in the Port of Rostock Hamburg
12:01 USCG begins ice breaking operations in western Great Lakes
11:48 Iridium continues GMDSS readiness with announcement of launch partners
10:41 Farid Salem honored by the Lloyd’s List Lifetime Achievement Award

2019 December 14

15:48 USCG returns majority of New York Waterway ferries to service
14:31 SK Telecom and SHI successfully verified 5G-powered autonomous and remote control navigation test platform using a test ship
13:19 Mitsubishi Corporation participates in FPSO project in Brazil
11:54 SEA\LNG's study underlines LNG as a compelling investment solution for VLCCs on the Arabian Gulf to China trade route
10:46 GTT Training receives the ‘LNG World Shipping Safety Award 2019’
08:55 Draft strategy for development of Russia’s Arctic through 2035 to be presented to Vladimir Putin by year end

2019 December 13

18:17 New ecological equipment enters berths of Multipurpose Reloading Complex in Ust-Luga
17:22 Total's Mozambique LNG Project gets $400 mln loan from African Development Bank
17:03 Port of Los Angeles and Indonesia Port Corporation sign cooperative agreement
16:33 ABB wins contract to power Genting’s next-generation cruise vessels
16:12 ABB completes delivery for the world's most advanced icebreaking LNG carrier fleet
16:03 Windermere Lake Cruises new vessel launched in Damen Technical Cooperation project
15:33 MacGregor deck handling solution supports China’s Xue Long 2 icebreaker operation
15:12 Polarcus awarded 10-month acquisition program offshore Brazil
14:32 Rotterdam Port Fund invests in Fleet Cleaner
14:11 Subsea 7 awarded contract offshore Norway
13:43 Moín Container Terminal reaches 1 million TEUs
13:31 New container terminal opens in northern Italy
13:05 Aker Solutions to provide subsea production system for phase two of Aker BP's Ærfugl
12:30 Jifmar Offshore Services acquires Delta Marine
12:04 SBM Offshore signs FPSO Sepetiba contracts
11:30 Abu Dhabi Ports announces AED 4Bn expansion projects at Khalifa Port on its 7th Anniversary
11:27 Damen signs contract with Cotecmar for DTC hydrographic research vessel
11:12 WMU and EMSA cooperate on capacity building and research
11:03 SAL Heavy Lift becomes world’s first to equip vessels with new hydrogen / methanol injection technology
10:48 Murmansk Sea Fishing Port handled 245,000 tonnes of cargo in 11M’2019, down 20.7% Y-o-Y
10:34 Overseas Shipholding Group and American Shipping Company jointly announce extension of tanker charters
10:24 WMU President reports to the IMO Assembly
09:59 Kawasaki Heavy Industries launches the world's first liquefied hydrogen carrier
09:43 MABUX: Bunker market this morning, December 13
09:29 Brent Crude futures price is up 0.65% to $64.62, Light Sweet Crude – up 0.52% to $59.49
09:13 Baltic Dry Index is down to 1,388 points

2019 December 12

18:36 EBRD finances Tekirdag port on Turkey’s Sea of Marmara
18:05 Dutch Drone Delta established with Port of Rotterdam Authority support
17:51 Port of Southampton continues infrastructure investment with £3m crane
17:30 Baltic Workboats shipyard delivers 19 WP Oilrec workboat
17:05 The European Federation of Inland Ports welcomes the Green Deal for Europe
16:46 MOL orders 2 next-generation 'EeneX' coal carriers
16:43 Throughput of port Kaliningrad in Jan-Nov’2019 fell by 21% Y-o-Y to 10.20 million tonnes
16:26 Klaipėda LNG terminal welcomed three large and four small LNG vessels in November
16:05 Air quality sensor in the Port of Rotterdam checks sulphur emissions from shipping
15:57 Throughput of port Vyborg in Jan-Nov’2019 fell by 35% Y-o-Y to 1.12 million tonnes
15:34 Alewijnse wins electrical contracts for two additional Combi Freighters at Damen Yichang Shipyard
15:00 Throughput of port Vysotsk in Jan-Nov'2019 climbed by 6% Y-o-Y to 17.90 million tonnes
14:36 Krasnoye Sormovo shipyard launches dry cargo carrier Pola Anastasia of Project RSD59
14:12 CMA CGM announces FAK Reefer Rates from North Europe to Asia and Middle East
13:53 Bunker market sees mixed price movements at the Far East ports of Russia (graph)
13:31 NLNG signs sales deal with Vitol SA
13:12 Austal USA delivers USNS Puerto Rico to U.S. NAVY
12:49 Throughput of port Primorsk in Jan-Nov’2019 grew by 16% Y-o-Y to 56.25 million tonnes
12:24 Lead nuclear-powered icebreaker of Project 22220, Arktika, left for sea trials
12:00 ABS publishes Fuel Cell Guidance to support industry decarbonization objectives
11:38 Port of Ust-Luga handled 95.31 million tonnes in 11M’18, up 6% Y-o-Y