Despite a challenging market environment, German terminal operator Hamburger Hafen und Logistik AG (HHLA) wrapped up the first half of 2019 with improved profitability.
The group delivered a profit after tax of EUR 54.7 million (USD 61.2 million) in H1 2019, an increase of 4.4 percent compared to a profit of EUR 52.4 million seen in the same period last year.
Total revenue rose by 9.6 percent to EUR 693.7 million in H1 2019 from EUR 633 million recorded in the first six months of 2018.
What is more, the operating result (EBIT) improved strongly by EUR 14.4 million, or 14.4 %, to EUR 114.3 million.
“The results achieved in the first half of the year confirm our expectations of reaching the targets forecast for 2019. However, these results only represent one step in our strategic plan to secure the success of HHLA in the mid- and long-term future,” Angela Titzrath, Chairwoman of HHLA’s Executive Board, commented.
“In addition to the continued development of our core business and tapping into further business fields, sustainability and climate protection are integral elements of our business model. We are aware of our responsibility – not only for HHLA’s economic development but also towards society – and have already done a lot of work in this area,” Titzrath added.
Container throughput increased moderately by 3.8 percent in the first half of the year, due in particular to the successful integration of the Estonian terminal operator HHLA TK Estonia , which was acquired last year.
On the other hand, the three Hamburg container terminals showed a sideways trend with a marginal year-on-year increase in throughput volume of 0.1 percent.
Additionally, a significant rise of 9.6 percent in container transport was achieved.
Outlook
Due to the takeover of North America services and the first full-year consolidation of throughput volumes of the HHLA TK Estonia container terminal, HHLA expects a slight overall increase in container throughput in 2019. Slight year-on-year growth is also expected for container transport.
At a group level, this should lead to a slight increase in revenue, HHLA concluded.
HHLA operates container terminals in Hamburg, Odessa and Tallinn.