HHLA posts Q3 2014 results
Hamburger Hafen und Logistik AG (HHLA) increased its revenue by 6.0 percent to € 906.7 million in the first nine months of 2014. Growth in the operating result (EBIT) was even stronger at 10.9 percent. The company upped its operating result to € 131.3 million in the first three quarters. HHLA expects its operating result on Group level to be in the region of the upper end of the guidance range for the full year 2014, the company said in its press release.
Business developed successfully at Hamburger Hafen und Logistik AG in the first nine months of 2014. The Group further expanded its position in the container transport market and increased its hinterland transport volume by over 10 percent. HHLA also experienced further growth in its container throughput. The pace of growth was restricted, however, by a decrease in feeder traffic at HHLA’s Hamburg terminals which stemmed partly from a significant reduction in traffic with Russia. The economic impact of the conflict in Ukraine also affected the rate of throughput growth.
HHLA’s Intermodal companies, which provide road- and rail-bound transportation in the European hinterland, generated clear growth in the first nine months of the year and succeeded in gaining market share despite operating in a highly competitive environment. They transported 973 thousand standard containers (TEU) – 10.2 percent more than in the same period of the previous year. This growth was partly driven by transport connections with the Czech Republic, Slovakia and Hungary. The transport links with Germany, Austria and Switzerland which were launched in late 2012 also recorded substantial growth, contributing to this increase as well.
HHLA’s Hamburg terminals increased their throughput by 1.8 percent in the first nine months despite a drop of around 5 percent in feeder traffic, especially with Russia. Having considerably improved its market position in Northern Europe recently, HHLA almost retained its strong standing. This was primarily due to further marked growth of 8.5 percent in Far East traffic. Together with the fall in container throughput in Odessa due to the conflict in Ukraine, this meant that container throughput at all the HHLA terminals (Hamburg and Odessa) increased by 0.3 percent in total.
At € 885.4 million, revenue in the listed Port Logistics subgroup – which represents HHLA’s core business – was up 6.1 % on the previous year. The subgroup’s operating result (EBIT) increased by 11.5 % to € 120.0 million. Earnings per share rose by 3.2 % to €0.59.
