Corporate | 10 November 2016 07:30

Stable Business Development Continues at Hamburger Hafen und Logistik AG

DGAP-News: Hamburger Hafen und Logistik AG / Key word(s): 9-month figures

2016-11-10 / 07:30
The issuer is solely responsible for the content of this announcement.

HHLA Interim Statement January to September 2016
Stable Business Development Continues at Hamburger Hafen und Logistik AG

During the reporting period, the Group revenue and operating result (EBIT) of Hamburger Hafen und Logistik AG (HHLA) remained within the previous year’s range. Container throughput came in at only around 2 percent less than in the same period of 2015. In a highly competitive environment, the Group once again increased container transport by its Intermodal companies by almost 6 percent. The Executive Board has elaborated its forecast for the current financial year.

– Slight decrease in container throughput, 2.1 % down on the previous year at 4.9 million standard containers (TEU)
– 5.9 % increase in container transport to 1.1 million TEU
– Revenue of EUR 871.0 million: 0.2 % up on the previous year
– Rise of 2.4 % in the operating result (EBIT), taking it to EUR 126.9 million, including one-off effects in the Logistics segment which offset one another

Klaus-Dieter Peters , Chairman of HHLA’s Executive Board, on the course of business in the reporting period: “HHLA turned in a satisfactory performance given the still subdued global economic growth, weak global trade, a further slowdown in global container throughput and continued infrastructure deficits. At 4.9 million standard containers (TEU), container throughput was still around 2 percent lower than in the prior-year period. However, we see a positive trend in the Container segment over the year. The Intermodal segment once again recorded encouraging volume growth. Container transport at the Intermodal companies rose by almost 6 percent to 1.1 million TEU. We are confident that we can reach our targets by the end of the financial year. Our successfully established and expanded Intermodal segment has become a dynamic earnings driver for our Group and will play a key role in this development.”

Group Revenue and EBIT Match Previous Year’s Figures
In the first nine months of 2016, HHLA generated revenue of EUR 871.0 million at Group level. This roughly corresponds to the figure recorded in the previous year (+ 0.2 percent). The operating result (EBIT) edged up slightly by 2.4 percent year-on-year to EUR 126.9 million. EBIT for the third quarter of 2016 included a one-off gain from the early termination of a lease in the project and contract logistics business division. This one-off gain offset the one-off expense of almost EUR 15 million for the restructuring of the division as reported in the half-year financial report.

Container Segment Has Bottomed Out
Although throughput at the HHLA container terminals was still down by 2.1 percent year-on-year at 4.9 million TEU in the period from January to September 2016, developments over the course of the year indicated that it had bottomed out. After the negative volume trend seen in the first half of 2016, volumes recovered in the third quarter, growing by 5.6 percent compared with the same period of 2015. This growth was largely driven by an increase in feeder traffic, particularly between Hamburg and Russia. In addition to this, the HHLA container terminal in the Ukrainian port of Odessa succeeded in boosting its throughput by 13.4 percent on the first nine months of 2015. The Container segment’s revenue decreased at a slower rate than volumes, falling by just 1.2 percent to EUR 512.7 million. It was able to grow its operating result (EBIT) by 3.7 percent to EUR 86.6 million.

Further Increases at Intermodal Companies
HHLA’s transport companies moved 1.1 million TEU in the first nine months of 2016, representing an increase of 5.9 percent on the previous year. Revenue at the Intermodal segment climbed by 6.1 percent to EUR 289.5 million. Growth in the operating result (EBIT) once again significantly outperformed the increase in volumes and revenue. At EUR 50.0 million, it was 13.8 percent higher than one year earlier. This was mainly driven by the HHLA rail companies, supported by volume growth and, in particular, an improvement in the combination of import and export volumes as well as better utilisation of trains.

Executive Board Elaborates on Forecast
The HHLA Executive Board has elaborated on its forecast for the 2016 financial year in light of the Group’s performance over the first nine months. Although the Executive Board still expects container throughput and revenue to remain on a par with the previous year’s figures, it now anticipates a moderate increase in container transport. As the one-off effects in the project and contract logistics business division offset one another, the operating result (EBIT) at Group level is expected in the range of EUR 150 million to EUR 160 million.

Contact:
Heiko Hoffmann
Investor Relations

HAMBURGER HAFEN UND LOGISTIK AG
Bei St. Annen 1, D-20457 Hamburg, www.hhla.de

Tel: +49-40-3088-3397
Fax: +49-40-3088-55-3397
E-mail: investor-relations@hhla.de

2016-11-10 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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Language:	English
Company:	Hamburger Hafen und Logistik AG
	Bei St. Annen 1
	20457 Hamburg
	Germany
Phone:	+49 (0)40-3088-0
Fax:	+49 (0)40-3088-3355
E-mail:	info@hhla.de
Internet:	www.hhla.de
ISIN:	DE000A0S8488
WKN:	A0S848
Indices:	SDAX
Listed:	Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Hanover, Munich, Stuttgart, Tradegate Exchange

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