Group Structure

Hamburger Hafen und Logistik AG (HHLA) is one of Europe’s leading port and transport logistics groups. It is operated as a strategic management holding company and divided into two subgroups, Port Logistics and Real Estate. The Class A shares, which are listed on the stock exchange, relate to the Port Logistics subgroup and entitle shareholders to participate in the result and net assets of these operations. The Real Estate subgroup includes those HHLA properties that are not specific to port handling. The performance and of the Real Estate subgroup, which also follows urban development objectives, are represented by the Class S shares. These shares are not traded on the stock exchange and are held solely by the Free and Hanseatic City of Hamburg (FHH). In the unlikely and unprecedented event of the Real Estate subgroup reporting a loss, this would be indirectly transferred to the Free and Hanseatic City of Hamburg in line with a separate agreement to assume losses.

The HHLA Group’s operations are conducted by the 32 domestic and 14 foreign subsidiaries and associated firms that make up the consolidated group. see also Note 3 of the Notes to the Consolidated Financial Statements No significant legal or organisational changes were made to the company structure in the 2016 financial year.

Financial Result

Interest income – interest expenses +/– earnings from companies accounted for using the equity method +/– other financial result.