HHLA lowers forecast for 2023

HHLA lowers forecast for FY2023

Hamburger Hafen und Logistik AG (HHLA) has revised its projection for the current fiscal year based on preliminary statistics for the first six months.

A major decrease in container throughput in the Port Logistics subgroup is now projected compared to the prior year, while container transport is predicted to reach 2022 levels – as opposed to previous projections which forecasted a steady year-on-year growth.

The Port Logistics subgroup’s income is predicted to fall significantly.

READ: HHLA 2022 financial year impacted by Russia-Ukraine conflict

This trend is the consequence of a volume-related considerable decline in revenue in the container sector, which cannot be offset by a large rise in revenue in the intermodal segment according to HHLA.

The estimated operational result (EBIT) has been restated to range between €100 and €120 million ($109 million to $131 million).

READ: HHLA 2022 throughput drops by almost 8 per cent

Within this range, a significant reduction in the container category is still projected. In the intermodal segment, segment EBIT is predicted to fall somewhat compared to the previous year.

Revenue in the real estate sector is forecast to stay flat year-on-year, despite a considerable drop in operating profit (EBIT).

At the group level, a large fall in income is expected as opposed to the previously forecasted slight growth.

In light of the revised estimates, the operational result (EBIT) will be in the range of €115 to €135 million ($175 to $208 million), as reported by HHLA.

This July 2023, HHLA announced it will begin testing a digital solution which allows truckers to access the Hamburg container terminals in a safer and more efficient way.

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