HHLA Sees Mixed Results in H1, 2016


Despite the container handling volumes at Hamburger Gafen und Logistic AG (HHLA) being down 5.7% on H1, 2015 with 3.2 million TEU, the container transport of intermodal companies saw a 6.75% growth with 664,000 TEU.

Group-level revenue was down at more than US$639 million; however, the earnings before interest and taxes (EBIT) were at $91.5 million, which approximately matches H1, 2015.

Container throughput at the Hamburg terminals also fell by 6.2% to 3.1 million TEU due mainly to weak Asia Traffic to Far East-Northern Europe, which was down by 9% in H1, 2015.

The container segment suffered smaller losses of 4.4%, at more than $376 million. The segment’s EBIT also decreased, in line with volumes, by 5.9% to approximately more than $60 million.

Technical Paper: How the Port of Hamburg became ‘Mega-Ship Ready’

Klaus-Dieter Peters, Chairman of HHLA’s Executive Board, said: “Thanks to our successfully implemented, long-term diversification strategy, we were once again able to compensate for developments in the container segment – which were adversely affected by a persistently difficult operating environment – with pleasing growth in the Intermodal segment.

“In view of persistently weak growth momentum in global trade and international container throughput, and given the unchanged infrastructure deficits at the Port of Hamburg, container handling volumes at our terminals remained subdued.

“So far, we have been unable to match the throughput recorded in the same period of the previous year, partly due to a strong performance in Q1, 2015. By contrast, we are continuing our success story in the Intermodal segment.

“Considering that the market is highly competitive, it is remarkable that we managed to achieve a further increase of 6.2 % in transport volumes and growth of no less than 25.5% in the segment’s operating result.

“We assume that developments at group-level during the remainder of the year will be in line with our expectations. For this reason, our forecast published in March, [2016] remains unchanged.”

Considering the overall performance in H1, 2016, HHLA predicts revenue at group level to match that of the previous year in H2.

The HHLA expansion was due to be complete on August 1, 2016, but PTI reported the completion of the project in June 2016.
The expansion is expected to increase its Container Terminal Altenwerder (CTA) capacity by 140,000 TEU to 930,000 TEU.

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