Group structure

Hamburger Hafen und Logistik AG (HHLA) is one of Europe’s leading logistics companies. The Group is operated as a strategic management holding company 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 economic result 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 30 domestic and 16 foreign subsidiaries and associated firms that make up the consolidated group. In the financial year 2019, HHLA acquired shares in companies in order to expand its digital business activities and extend its Intermodal network. Notes to the consolidated financial statements, no. 3 Composition of the Group No other significant legal or organisational changes were made.