Intermodal Segment

HHLA’s transport companies achieved significant growth in the highly competitive market for container traffic in the hinterland of major seaports. In a subdued and, in some areas, declining market, transport volumes climbed by 6.8 % to 1,408 thousand standard containers (TEU) compared with 1,318 thousand TEU in the previous year. The trend was primarily driven by growth in rail transportation, which again increased significantly year-on-year by 8.0 % to 1,089 thousand TEU (previous year: 1,008 thousand TEU). In particular, there was above-average growth in connections between the Adriatic ports as well as north German seaports and the Central and Eastern European hinterland. In a difficult market environment, road transport also made good progress with year-on-year growth of 2.9 % to 319 thousand TEU (previous year: 310 thousand TEU).

Developments in Container Transport

in thousand TEU

Revenue performed slightly better than transport volumes with growth of 7.2 % to € 390.1 million (previous year: € 364.0 million). This positive trend was partly due to changes in the route mix, as rail’s share of HHLA’s total intermodal transportation rose from 76.5 % to 77.4 %.

The operating result (EBIT) rose year-on-year to € 55.9 million (previous year: € 55.2 million). This was primarily attributable to the increase in volumes. Better utilisation of trains and an improved mix of import and export volumes compared to last year also had a positive effect on segment earnings. This was partially offset by a one-off expense of € 7.2 million from an onerous lease for a terminal area in Poland. Its potential for expansion is currently limited given the highly competitive market environment. In a year-on-year comparison, it must also be taken into account that the 2015 figure included proceeds of € 4.3 million mainly from the disposal of assets.

HHLA continues to invest as needed in the expansion of its intermodal network. On delivery of its order for a further ten multi-system locomotives, which will be successively put into operation by spring 2017, and the acquisition of two hybrid shunting engines, HHLA’s rail subsidiary METRANS will have over 60 shunting engines and locomotives as well as a fleet of more than 2,400 waggons. METRANS is also constructing a new rail hub terminal in the Hungarian capital of Budapest. Its location makes it the perfect interface between the North European seaports and South-East Europe. The terminal is expected to begin operations in spring 2017. Upon completion, the network of the two HHLA subsidiaries METRANS and POLZUG will consist of 13 terminals in the hinterland, of which five will function as large hub terminals.