HHLA fulfils forecast

Despite an extremely tough market environment Hamburger Hafen und Logistik AG (HHLA) has fulfilled its lifted earnings forecast made last autumn for the financial year 2009.

Provisional, not yet certified figures indicate that in the financial year 2009, HHLA achieved Group revenue of approx. 988 million euros (previous year: 1,327 million euros) and an operating result from continuing activities (EBIT) of around 176 million euros (previous year: 358 million euros). In 2009 the stock-exchange listed subgroup Port Logistics, HHLA’s core business, reached revenue of approx. 960 million euros (previous year: 1,299 million euros) with the operating result from continuing activities (EBIT) at around 164 million euros (previous year: 344 million euros). HHLA accordingly succeeded in meeting its forecast for the year entirely. HHLA will be publishing its final figures on 31 March 2010.

In 2009 throughput in the Container segment fell by 32.9 percent to 4.9 million standard containers (TEU). The main reason for this is that the Port of Hamburg as the leading hub for the exchange of goods with Asia as well as Central and Eastern Europe was especially hard hit by the economic crisis. In particular, the disproportionate collapse of the national economies in Eastern Europe, which had enjoyed dynamic growth in recent years, caused a steep drop in container throughput.
The hinterland traffic operated by the Intermodal segment nevertheless held its own well in a difficult market. With a downturn of 18.5 percent at 1.5 million standard containers, volume transported fell by rather less than anticipated.

“Despite the most serious economic crisis of the post-war era, we have succeeded in maintaining HHLA’s financial stability. We launched a programme of measures in a timely manner which aimed not only at limiting the impact of the crisis but at maintaining future prospects.

This has proved very effective,” said Klaus-Dieter Peters, Chairman of the HHLA Executive Board. “A solid balance sheet will enable HHLA to actively develop its business model further.”

(Source: Transport Weekly)