Overall View

Key Figures

in € million

 

2017

 

2016

 

Change

Revenue

 

1,251.8

 

1,177.7

 

6.3 %

EBITDA

 

295.8

 

286.4

 

3.3 %

EBITDA margin in %

 

23.6

 

24.3

 

- 0.7 pp

EBIT

 

173.2

 

164.0

 

5.6 %

EBIT margin in %

 

13.8

 

13.9

 

- 0.1 pp

Profit after tax and minority interests

 

81.1

 

73.0

 

11.0 %

At-equity earnings

 

4.8

 

4.7

 

2.2 %

ROCE in %

 

13.1

 

12.4

 

0.7 pp

The HHLA Group’s performance in the 2017 financial year was very encouraging. Thanks to sales activities and an investment policy aligned with trends in ship sizes, the HHLA Group succeeded in capitalising on the positive economic environment while the consolidation trend among its clients continued. These efforts led to a marked increase in container throughput in the Container segment. At the same time, container transport in the Intermodal segment rose noticeably. Developments at HHLA’s two largest segments led to moderate growth in both revenue and the operating result at Group level.

Container throughput was well in excess of guidance for the 2017 financial year stated in the prior-year report. The Executive Board therefore issued an ad hoc announcement on 5 May 2017 with more specific guidance on anticipated volume and earnings trends in the Container segment and thus on the Group’s expected earnings in 2017. As the Container segment’s performance in the first half of 2017 exceeded expectations, further specific guidance on the Group’s 2017 earnings was issued in August. Despite additional expenses announced in November 2017 in connection with the harmonisation of the existing pension schemes, this more specific guidance was confirmed by actual developments. Capital expenditure came in below the communicated figure.

Forecast and Actual Figures

 

 

Actual
31.12.2016

 

Forecast
30.03.2017

 

Forecast
05.05.2017

 

Forecast
14.08.2017

 

Actual
31.12.2017

1

Specification 14.11.2017: Including additional expenditure of up to € 10 million for the harmonisation of existing pension schemes

Container throughput

 

6.7 million TEU

 

At previous year’s level

 

Significant increase

 

Significant increase

 

7.2 million TEU

Container transport

 

1.4 million TEU

 

Moderate increase

 

Moderate increase

 

Moderate increase

 

1.5 million TEU

Revenue

 

€ 1,177.7 million

 

At previous year’s level

 

Moderate increase

 

Moderate increase

 

€ 1,251.8 million

EBIT

 

€ 164.0 million

 

In a range of € 130 to 160 million before possible one-off expenses of up to € 15 million

 

In the upper half of a range of € 140 to 170 million before possible one-off expenses of up to € 15 million

 

In a range of € 150 to 170 million after possible one-off expenses of up to € 15 million1

 

€ 173.2 million

Capital expenditure

 

€ 138.3 million

 

In the range of € 160 million
(incl. previous year’s surplus)

 

In the range of € 160 million
(incl. previous year’s surplus)

 

In the range of € 160 million
(incl. previous year’s surplus)

 

€ 142.6 million

As a result of the business trend in 2017, HHLA’s financial position at the end of the reporting period on 31 December 2017 remained stable. The equity ratio increased by 1.3 percentage points to 32.8 % (previous year: 31.5 %) while liabilities remained largely unchanged from the previous year. Aided by sufficient liquidity, HHLA was able to reduce its gearing ratio from 2.6 to 2.3. The company still has no significant refinancing requirements.