HHLA Exceeds Earnings Expectations for 2021

Hamburger Hafen und Logistik AG (HHLA) increased its consolidated revenue by 12.7 percent to €1.465 billion (previous year: €1.300 billion) in the fiscal year 2021, according to preliminary, unaudited figures. The consolidated operating result (EBIT) rose by 84.7 percent compared to the previous year to €228 million (previous year: €124 million). Container throughput increased by 2.5 percent to 6,943 thousand TEU compared to the previous year. The transport volume increased by 10.0 percent to 1,690 thousand TEU.

(Hamburg) Angela Titzrath, Chairwoman of the Executive Board of HHLA: “For the second consecutive year, HHLA has concluded its business operations with a positive result under the challenging conditions of the Corona pandemic. Once again, it is confirmed that HHLA is a stable and efficient hub in global supply chains, ensuring a reliable supply for companies and consumers in Germany and Europe at all times. In a persistently changing market environment, we will continue to resolutely implement our strategy focused on growth and sustainability. As a leading European logistics company, we aim to assert ourselves in competition and create new jobs.” The publicly listed Port Logistics Division achieved revenues of €1.436 billion (previous year: €1.269 billion) and an operating result (EBIT) of €213 million (previous year: €110 million). The operating result of the previous year was influenced by provisions amounting to €43 million. Without these provisions, the operating result would have been €153 million. The Port Logistics Division thus exceeded the annual expectations given at the end of October for revenue of around €1.410 billion and an operating result in the range of €190 million.

Increased Storage Revenue Due to Supply Chain Disruptions

The significantly increased storage revenues during the year positively impacted the revenue and earnings development in the fiscal year due to the ongoing disruptions in global supply chains, which caused massive shipping delays, leading to longer dwell times and additional movements of containers at HHLA’s Hamburg terminals. In addition, a retroactively granted higher track price subsidy of around €11 million positively contributed to the earnings development in the Port Logistics Division.

18 Percent Increase in Real Estate

The Real Estate Division recorded a constant revenue of €38 million (previous year: €38 million) with an increase in operating result (EBIT) of 18.0 percent to €15 million (previous year: €13 million). HHLA will publish the complete annual financial figures for the year 2021 as well as an outlook for the current fiscal year 2022 on Thursday, March 24, 2022, at 7:30 AM.Photo: © HHLA