Following a slow start to the year due to a demanding climate, Hamburger Hafen und Logistik AG (HHLA) ended the first half of 2024 with good revenue and profitability numbers.
In addition to increased container handling and transportation, an appealing revenue mix and the expansion of the European network had a good influence.
The group’s revenue increased by 4.6 per cent to €760.3 million ($837 million), up from €727.1 million ($800 million) last year.
The Group’s operational result (EBIT) increased by 16.8 per cent to €58.9 million ($64 million), compared to €50.4 million ($55.4 million) the year before.
The EBIT margin was 7.7 per cent (compared to 6.9 per cent last year). Consolidated profit after tax and minority interests reached €13.2 million ($14.5 million), up from €8.2 million ($9 million) the previous year.
Angela Titzrath, Chief Executive Officer of HHLA: “The first half of the year was characterised by a challenging market environment for HHLA. Despite making the necessary adjustments due to supply chain disruptions, HHLA was still able to achieve growth in container handling and transport.
“Even if the business forecast remains challenging due to the weak economy, ongoing crises and changes in the market, HHLA is in a strong position thanks to its strategic approach. We are therefore continuing to invest in our European network, the modernisation of our terminals, the qualification of our employees and the development of sustainable logistics solutions.”
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The port logistics unit reported a small rise in sales to €742.5 million ($817 million) in the first half of the year, up from €707.7 million ($779 million) last year.
The operational result (EBIT) increased by 27.5 per cent to €51.7 million ($56.9 million), compared to €40.5 million ($44 million) the previous year, and the EBIT margin increased by 1.3 percentage points to 7.0 per cent.
Profit after tax and minority interests rose to €8.9 million ($9.8 million) from €2.7 million ($2.9 million) the year before. Earnings per share totalled €0.12 (previous year: €0.04).
In the container category, HHLA’s container terminals had a 2.2 per cent rise in throughput to 2,940 TEU in the first half of 2024, up from 2,876 TEU last year.
Handling volume at the Hamburg container terminals increased by 1.7 per cent over the same time last year, reaching 2.8 million TEU.
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In terms of overseas traffic, the positive volume trend was principally driven by the North, South, and Central American shipping areas, with cargo volumes in the United States increasing significantly.
In contrast, cargo volumes with other European seaports showed a positive trend as a result of temporary route changes caused by the armed war in the Red Sea.
However, HHLA noted that handling volumes in the Far and Middle East shipping sectors have fallen considerably.
Feeder traffic levels were somewhat higher than the previous year. Feeders handled 18.7 per cent of seaborne cargo (compared to 18.4 per cent last year).
