HHLA's half-year box throughput rises 6.8%

In the first half of 2013, Hamburger Hafen und Logistik AG (HHLA) increased its container throughput by 6.8 % to 3.8 million TEUs. The volume handled by HHLA’s transport companies in the newly aligned Intermodal segment also rose significantly by 21.8 % to 581,000 TEUs, the Company reports.

The operating result (EBIT) – adjusted for one-off gains – increased slightly, but failed to match this volume growth due to continuing costs relating to modernisation and restructuring as well as the expenses associated with the flooding in the area of key hinterland connections. Group revenue increased by 1.6 % to € 575.2 million.

Despite unfavourable conditions – only moderate global economic growth, delays in dredging the river Elbe and the Kiel canal’s temporary operational restrictions – HHLA’s container terminals in Hamburg and Odessa significantly increased their cargo volumes. With a slight overall decline in container throughput at the Northern European ports, the throughput volume at HHLA’s container terminals increased to 3.8 million TEUs. HHLA was therefore able to further extend its market share. This success is primarily attributable to strong growth in European feeder traffic to the Baltic Sea (up by 12.6 %) and to a substantial recovery of Far East traffic. In the first half of 2013, this increased by 8.5 %.

The HHLA Container Terminal Odessa also succeeded in increasing its throughput significantly. Earnings growth lagged slightly behind the development in revenue. The operating result (EBIT) in the Container segment increased year-on-year by 3.0 % to € 68.8 million. This reflects general cost increases, the modernisation expenses at the Container Terminal Burchardkai, the increased ratio of lower-margin feeder traffic and the additional operating costs resulting from the continuing delays in dredging the river Elbe.