Annual Financial Statements of HHLA AG

The Annual Financial Statements and Combined Management Report of Hamburger Hafen und Logistik Aktiengesellschaft, Hamburg, for the 2017 financial year have been prepared according to the provisions of German commercial law and have been endorsed with an unrestricted auditor’s certificate by the auditors of PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft.

Income Statement

in €

 

2017

 

2016

Revenue

 

127,569,089.29

 

157,858,227.42

Increase or decrease in work in progress

 

- 309,045.51

 

- 582,546.35

Own work capitalised

 

1,059,691.04

 

682,321.59

Other operating income

 

4,914,777.40

 

7,030,996.79

of which income from translation differences

 

80,859.72

 

150,409.49

Cost of materials

 

8,807,422.32

 

8,000,778.36

Expenses for raw materials, consumables, supplies and purchased merchandise

 

3,560,189.39

 

2,455,967.28

Expenses for purchased services

 

5,247,232.93

 

5,544,811.08

Personnel expenses

 

107,137,287.31

 

113,545,257.69

Wages and salaries

 

94,947,979.97

 

97,032,971.37

Social security contributions and expenses for pension and similar benefits

 

12,189,307.34

 

16,512,286.32

of which for pensions

 

- 2,814,648.04

 

540,212.01

Depreciation and amortisation on intangible fixed assets and property, plant and equipment

 

2,848,971.49

 

3,078,660.75

Other operating expenses

 

47,169,653.52

 

61,491,974.77

of which expenses from translation differences

 

61,195.75

 

79,981.76

Income from profit transfer agreements

 

76,076,469.84

 

78,629,889.20

Income from equity participations

 

40,445,005.86

 

36,161,488.68

of which from affiliated companies

 

36,612,834.19

 

33,553,193.95

Other interest and similar income

 

3,462,509.22

 

3,930,739.39

of which from affiliated companies

 

3,292,275.65

 

3,727,975.67

Depreciation and amortisation on financial assets

 

4,376,951.71

 

0

Expenses from assumed losses

 

23,412,928.55

 

20,612,301.49

Interest and similar expenses

 

25,834,598.18

 

10,831,094.41

of which to affiliated companies

 

0

 

0

of which from accrued interest

 

24,506,781.44

 

9,158,463.48

Taxes on income

 

9,273,757.02

 

18,394,143.09

of which income from the change unrecognised taxes

 

7,959,383.58

 

3,693,661.45

Profit after tax

 

24,356,927.04

 

47,756,906.16

Other taxes

 

257,618.26

 

171,589.67

Net profit for the year

 

24,099,308.78

 

47,585,316.49

Profit carried forward from the previous year

 

224,126,013.29

 

222,602,383.86

Dividend distributed

 

46,737,812.06

 

46,061,687.06

Unappropriated profit

 

201,487,510.01

 

224,126,013.29

Balance Sheet

in €

 

31.12.2017

 

31.12.2016

ASSETS

 

 

 

 

 

 

 

 

 

Intangible assets

 

 

 

 

Internally generated industrial and similar rights and values

 

917,131.25

 

1,185,559.91

Purchased software

 

1,899,941.99

 

2,120,960.28

Assets in development

 

9,700,288.48

 

6,497,245.41

Payments in advance

 

10,000.00

 

74,160.00

 

 

12,527,361.72

 

9,877,925.60

Property, plant and equipment

 

 

 

 

Land, equivalent land rights and buildings, including buildings on leased land

 

4,405,996.48

 

3,893,662.05

Technical equipment and machinery

 

1,511,729.34

 

8,621.10

Other plant, operating and office equipment

 

2,711,146.67

 

2,103,866.46

Payments made on account and plant under construction

 

2,017,435.95

 

1,833,912.10

 

 

10,646,308.44

 

7,840,061.71

Financial assets

 

 

 

 

Interests in affiliated companies

 

358,224,331.58

 

367,696,955.51

Loans to affiliated companies

 

9,250,000.00

 

10,500,000.00

Equity investments

 

8,085,658.02

 

7,604,179.45

Non-current securities

 

950,952.04

 

947,277.94

 

 

376,510,941.64

 

386,748,412.90

Non-current assets

 

399,684,611.80

 

404,466,400.21

 

 

 

 

 

Inventories

 

 

 

 

Raw materials, consumables and supplies

 

198,775.69

 

102,560.19

Work in progress

 

361,127.33

 

670,172.84

 

 

559,903.02

 

772,733.03

Receivables and other assets

 

 

 

 

Trade receivables

 

568,371.16

 

651,293.14

Receivables from the Free and Hanseatic City of Hamburg

 

607.00

 

2,771.91

Receivables from the HGV Hamburger Gesellschaft
für Vermögens- und Beteiligungsmanagement mbH, Hamburg

 

74,000,000.00

 

74,000,000.00

Receivables from affiliated companies

 

338,348,026.07

 

399,332,181.78

Receivables from investee companies

 

3,868,878.50

 

5,033,946.75

Other assets

 

9,410,778.14

 

4,788,787.38

 

 

426,196,660.87

 

483,808,980.96

Cash and cash equivalents

 

147,931,500.73

 

129,632,909.02

Current assets

 

574,688,064.62

 

614,214,623.01

 

 

 

 

 

Accruals and deferrals

 

798,661.01

 

661,717.95

 

 

 

 

 

Deferred tax assets

 

50,405,159.00

 

39,885,000.92

Balance sheet total

 

1,025,576,496.43

 

1,059,227,742.09

 

 

 

 

 

EQUITY AND LIABILITIES

 

 

 

 

 

 

 

 

 

Equity

 

 

 

 

Subscribed capital

 

 

 

 

Port Logistics subgroup

 

70,048,834.00

 

70,048,834.00

Real Estate subgroup

 

2,704,500.00

 

2,704,500.00

 

 

72,753,334.00

 

72,753,334.00

Capital reserve

 

 

 

 

Port Logistics subgroup

 

136,771,470.63

 

136,771,470.63

Real Estate subgroup

 

506,206.26

 

506,206.26

 

 

137,277,676.89

 

137,277,676.89

Statutory reserve

 

 

 

 

Port Logistics subgroup

 

5,125,000.00

 

5,125,000.00

Real Estate subgroup

 

205,000.00

 

205,000.00

 

 

5,330,000.00

 

5,330,000.00

Other earnings reserves

 

 

 

 

Port Logistics subgroup

 

56,105,325.36

 

56,105,325.36

Real Estate subgroup

 

1,322,353.86

 

1,322,353.86

 

 

57,427,679.22

 

57,427,679.22

Retained earnings

 

62,757,679.22

 

62,757,679.22

Unappropriated profit

 

 

 

 

Port Logistics subgroup

 

169,961,460.97

 

196,564,319.39

Real Estate subgroup

 

31,526,049.04

 

27,561,693.90

 

 

201,487,510.01

 

224,126,013.29

Equity

 

474,276,200.12

 

496,914,703.40

Provisions

 

 

 

 

Provisions for pensions and similar obligations

 

309,575,395.53

 

303,327,400.31

Tax provisions

 

0

 

8,938,584.01

Other provisions

 

56,049,859.69

 

39,612,292.25

 

 

365,625,255.22

 

351,878,276.57

Liabilities

 

 

 

 

Liabilities from bank loans

 

70,300,499.73

 

70,300,499.73

Payments on account

 

295,332.33

 

774,740.36

Trade Liabilities

 

3,379,399.47

 

1,253,010.61

Liabilities towards the Free and Hanseatic City of Hamburg

 

12,170.98

 

28,766.33

Liabilities towards affiliated companies

 

57,911,338.40

 

119,367,283.16

Liabilities towards investee companies

 

1,449,592.79

 

3,300,781.14

Other liabilities

 

44,513,469.72

 

10,156,198.70

of which from taxes

 

5,080,092.48

 

2,100,803.00

of which for social security

 

699,244.66

 

794,761.92

 

 

177,861,803.42

 

205,181,280.03

Accruals and deferrals

 

11,236.61

 

12,255.53

Deferred tax liabilities

 

7,802,001.06

 

5,241,226.56

Balance sheet total

 

1,025,576,496.43

 

1,059,227,742.09