Hamburger Hafen und Logistik AG (HHLA) has reported positive financial results for the 2024 financial year, despite facing global challenges such as the ongoing weakness in the German economy, the military conflict in the Middle East, and the situation in Ukraine.
Group revenue increased by 10.5% to €1,598.3 million, up from €1,446.8 million in the previous year. The operating result (EBIT) rose by 22.7% to €134.3 million, which was within the expected range of €125 million to €145 million (previous year: €109.4 million).
Consolidated net income after minority interests reached €32.5 million, compared to €20.0 million in 2023.
Angela Titzrath, HHLA’s Chief Executive Officer, commented: “In uncertain times, it is crucial to strategically remain on track. That’s why we consistently worked on implementing our goals over the past year – focusing on two core areas: we further strengthened our European network, particularly by increasing the number of rail connections. The second focus was on the further modernization and automation of our container terminals in Hamburg. Based on the growth of revenue and earnings, we are now able to look forward with optimism to 2025.”
In the Port Logistics subgroup, revenue rose by 10.8% to €1,561.7 million, while the operating result (EBIT) increased by 26.8% to €117.8 million. Profit after tax and minority interests amounted to €23.0 million, compared to €8.7 million in 2023. The increase in revenue was largely attributed to higher transport volumes in the Intermodal segment and increased storage charges at Hamburg terminals due to longer container dwell times.
Container handling at HHLA’s seaport terminals increased by 0.9% to 5,970 thousand standard containers (TEU). Handling volumes for routes to and from the Far East and Middle East declined, while there was strong growth for North and South American shipping regions, particularly for traffic with the United States.
In the Intermodal segment, overall container transport increased by 11.6%, with rail transport up by 13.2% and road transport rising by 2.2%. Revenue for the segment increased by 14.6% to €711.3 million. EBIT for the Intermodal segment grew by 14.8% to €83.7 million.
For 2025, HHLA anticipates strong growth in both container throughput and transport volumes, expecting EBIT for the Port Logistics subgroup to be between €180 million and €220 million. At the Group level, HHLA forecasts EBIT to be in the range of €195 million to €235 million. HHLA also expects capital expenditure for 2025 to range from €460 million to €510 million, with a significant portion allocated to the Port Logistics subgroup.
Hamburger Hafen und Logistik AG (HHLA) is a leading European logistics company providing integrated transport and logistics services, including container handling, intermodal services, and real estate management in Hamburg, Germany, and beyond.