Audited

Income statement

Income statement – HHLA subgroups
in € thousand; Port Logistics subgroup and Real Estate subgroup; annex to the notes	2019 Group	2019 Port Logistics	2019 Real Estate	2019 Consolidation
Revenue	1,382,625	1,349,962	40,221	- 7,558
Changes in inventories	131	131	0	0
Own work capitalised	6,183	5,359	0	824
Other operating income	45,583	41,258	5,538	- 1,213
Cost of materials	- 401,203	- 393,909	- 7,966	672
Personnel expenses	- 516,119	- 513,905	- 2,214	0
Other operating expenses	- 134,575	- 130,171	- 11,679	7,275
Earnings before interest, taxes, depreciation and amortisation (EBITDA)	382,625	358,725	23,900	0
Depreciation and amortisation	- 161,388	- 154,300	- 7,433	345
Earnings before interest and taxes (EBIT)	221,237	204,425	16,467	345
Earnings from associates accounted for using the equity method	4,458	4,458	0	0
Interest income	2,886	2,994	35	- 143
Interest expenses	- 42,459	- 39,490	- 3,112	143
Other financial result	0	0	0	0
Financial result	- 35,115	- 32,038	- 3,077	0
Earnings before tax (EBT)	186,122	172,387	13,390	345
Income tax	- 49,064	- 44,979	- 3,999	- 85
Profit after tax	137,058	127,408	9,391	260
of which attributable to non-controlling interests	33,776	33,776	0
of which attributable to shareholders of the parent company	103,282	93,631	9,651
Earnings per share, basic and diluted, in €	1.42	1.34	3.57

Income statement – HHLA subgroups
in € thousand; Port Logistics subgroup and Real Estate subgroup; annex to the notes	2018 Group	2018 Port Logistics	2018 Real Estate	2018 Consolidation
Revenue	1,291,136	1,258,519	39,251	- 6,634
Changes in inventories	448	448	0	0
Own work capitalised	5,209	4,481	0	728
Other operating income	41,414	37,429	5,743	- 1,758
Cost of materials	- 367,103	- 359,903	- 7,848	648
Personnel expenses	- 480,580	- 478,365	- 2,215	0
Other operating expenses	- 172,072	- 164,841	- 14,247	7,016
Earnings before interest, taxes, depreciation and amortisation (EBITDA)	318,452	297,768	20,684	0
Depreciation and amortisation	- 114,232	- 109,350	- 5,225	343
Earnings before interest and taxes (EBIT)	204,220	188,418	15,459	343
Earnings from associates accounted for using the equity method	5,347	5,347	0	0
Interest income	2,128	2,240	50	- 162
Interest expenses	- 28,111	- 25,570	- 2,703	162
Other financial result	0	0	0	0
Financial result	- 20,636	- 17,983	- 2,653	0
Earnings before tax (EBT)	183,584	170,435	12,806	343
Income tax	- 45,110	- 41,332	- 3,693	- 85
Profit after tax	138,474	129,103	9,113	258
of which attributable to non-controlling interests	26,193	26,193	0
of which attributable to shareholders of the parent company	112,281	102,910	9,371
Earnings per share, basic and diluted, in €	1.54	1.47	3.46