Corporate | 11 November 2011 08:00
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Hamburger Hafen und Logistik AG / Key word(s): Quarter Results
HHL A Interim Report January to September 2011 Strong growth while risks increase l Container throughput up by 24.8 %, container transport by 13.0 % l HHLA gains market share in the North Range l Operating result (EBIT) improves by 16.2 % l Economic slowdown increases earnings risks Hamburger Hafen und Logistik AG (HHLA) experienced strong growth in the first nine months of 2011 and with it further expanded its market positions. Revenue rose by 15.8 % to EUR 912.5 million, while the operating result (EBIT) improved by 16.2 % to EUR 164.5 million. HHLA now anticipates EBIT in the region of EUR 210 million for the full year 2011. However, increased earnings risks could potentially reduce the figure by a low double-digit sum. 'We have achieved strong growth in both revenue and earnings. This is a remarkable accomplish- ment given the global economic downturn, more demanding requirements in maritime logistics and the ongoing delay in dredging the river Elbe's navigation channel,' said Klaus-Dieter Peters, Chairman of the Executive Board at HHLA. The Group's immediate market environment is also suffering as a result of the strained earnings situation in container shipping and the creation of excess capacity at the North Range terminals. Dynamic volume trends in throughput and transport In this difficult climate, container throughput increased by 24.8 % compared with the previous year to 5.3 million standard containers (TEU) in the first three quarters of 2011. Container transport to the hinterland grew by 13.0 % to 1.4 million TEU. Container throughput at HHLA's terminals was driven by a persistently dynamic increase in Far East traffic (+24.7 %) and strong growth in container traffic to the Baltic region (Poland, Baltic states and Russia). They were up 59.1 %. The North America shipping region also experienced impressive growth (+41.4 %). Among other, HHLA benefited from a relocation of liner services from Bremerhaven to Hamburg. 'The sharp rise in our throughput and transport volumes is not least attributable to considerable investment, operating and sales activities,' commented Peters. HHLA also succeeded in further expanding its market position in the North Range, despite the challenging economic environment. 1 1 Container throughput in the first three quarters of 2011: +7.7 % in Rotterdam, +3.1 % in Antwerp
Forecast for the full-year result 2011 HHLA forecasts Group revenue in the region of EUR 1.2 billion and an operating result in the region of EUR 210 million for the full year 2011. However, given the current economic slowdown, impairments with respect to German intermodal traffic and fruit logistics can no longer be ruled out. Should an adjustment be made, EBIT would be expected in the region of EUR 200 million. In container throughput, HHLA now anticipates growth at the upper end of the forecast range (15 to 20 %). Meanwhile, the percentage growth in container transport is expected in the middle of the predicted range of 10 to 15 %. Development of key Group figures at a glance (January to September 2011) – Revenue rose by 15.8 % compared with the same period last year to EUR 912.5 million – The operating result before depreciation and amortization (EBITDA) was up 14.3 % on the previous year at EUR 254.4 million – The operating result (EBIT) came in at EUR 164.5 million – a 16.2 % increase on the previous year's figure – Profit after tax and minority interests climbed 17.9 % to EUR 65.4 million At EUR 892.7 million for the period from January to September 2011, the revenue generated by HHLA's core business – operated by the publicly listed Port Logistics subgroup – grew by 16.0 % compared with 2010. The subgroup's operating result (EBIT) rose 18.3 % to EUR 155.3 million. This meant that the Port Logistics subgroup generated 98 % of Group revenue and95 % of Group EBIT.
Key figures for the HHLA Group
About HHLA Hamburger Hafen und Logistik AG (HHLA) is a leading port logistics group in Europe. With its Container, Intermodal and Logistics segments, HHLA is positioned vertically along the transport chain. Efficient container terminals, high-capacity transport systems and a full range of logistics services form a complete network between the overseas port and its European hinterland. End of Corporate News 11.11.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
| Language: | English | |
| Company: | Hamburger Hafen und Logistik AG | |
| Bei St. Annen 1 | ||
| 20457 Hamburg | ||
| Germany | ||
| Phone: | +49 (0)40-3088-1 | |
| Fax: | +49 (0)40-3088-3355 | |
| E-mail: | info@hhla.de | |
| Internet: | www.hhla.de | |
| ISIN: | DE000A0S8488 | |
| WKN: | A0S848 | |
| Listed: | Regulierter Markt in Frankfurt, Hamburg; Freiverkehr in Berlin, Düsseldorf, Hannover, München, Stuttgart | |
| End of News | DGAP News-Service |
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