Hamburger Hafen und Logistik AG (HHLA) has increased its group revenue by 10.5 per cent to €1.59 billion ($1.65 billion) in 2024, compared to €1.44 billion ($1.50 billion) the previous year.
Group operating result (EBIT) increased by 22.7 per cent to €134 million ($139 million), falling within the expected range of €125 million ($130 million) to €145 million ($151 million), with the previous year being €109 million ($113 million).
The consolidated net income after minority interests was €33 million ($34.4 million) in the prior year.
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Group container handling at seaport terminals climbed by 0.9 per cent to 5.97 million TEUs.
Container throughput at Hamburg’s container terminals remained nearly identical to the previous year, at 5.68 million TEUs.
Transport volume in the intermodal segment increased by 11.6 per cent to 1.78 million TEUs.
Angela Titzrath, Chief Executive Officer of HHLA, said: “Despite ongoing geopolitical instability, recession in Germany and supply chain disruptions, we consistently pushed ahead with the strategic development of HHLA in 2024.
The targeted expansion of our European network in particular had a positive effect on our revenue and earnings.”
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In the publicly listed Port Logistics subgroup, revenue increased by 10.8 per cent to €1.56 billion ($1.62 billion), compared to €1.40 billion ($1.45 billion) the previous year.
The operating result (EBIT) increased by 26.8 per cent year-on-year (YoY) to €118 million ($123 million), with the previous year being €93 million ($96 million), placing it within the most recent forecast, which had assumed earnings within a range between €110 million ($114 million) and €130 million ($135 million).
Profit after tax and minority interests came to €23 million ($23.9 million), with the previous year being €9 million ($9.3 million).
In addition to the significant growth in transport volume in the Intermodal business, the YoY increase in storage rates owing to longer stay durations for containers handled by the Hamburg terminals boosted revenue and profitability.
Recently, HHLA and the trade union ver.di reached a social and change collective agreement.
