2020 at a glance
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Major achievements
- HHLA kept stable financial position despite restrictions due to coronavirus pandemic
- Health & safety of employees maintained; kept production running
- Acquisition of a majority share in a multi-function terminal at the Port of Trieste and acquisition of 80.0 % stake in automation specialist iSAM AG
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Market environment
- While H1 was affected by pandemic-related blank sailings and drop in volumes, the sector struggled with imbalances in trade flows in H2, resulting from a lack of empty containers and shipping space due to catch-up effects esp. in Asia
- Both led to delays in sailing schedules that put high pressure on terminals and hinterland transport systems
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Results
- Container throughput impacted by pandemic-related downturn and changes in market share while container transport was only slightly down
- EBIT impacted by revenue decrease and provision of ~ € 43 million set aside in Q4 for an efficiency programme in the Container segment
- Dividend proposal of € 0.45 per class A share in form of a scrip dividend
Letter to the Shareholders
Market and customers will continue to change. This gives rise to a mission: we have to change with them. Even more: We will actively shape the change and drive it forward.
Angela TitzrathChairwoman of the Executive Board
Key Figures 2020
Group
Revenue in € million
- 2020 1,299.8
- 2019 1,382.6
Profit after tax and minority interests in € million
- 2020 42.6
- 2019 103.3
EBIT in € million
- 2020 123.6
- 2019 221.2
Operating cash flow in € million
- 2020 291.2
- 2019 322.7
9.5 %
EBIT margin
5.9 %
ROCE
Port Logistics
Revenue in € million
- 2020 1,269.3
- 2019 1,350.0
Earnings per share in €
- 2020 0.50
- 2019 1.34
EBIT in € million
- 2020 110.3
- 2019 204.4
Operating cash flow in € million
- 2020 271.4
- 2019 303.0
8.7 %
EBIT margin
5.8 %
ROCE
Real Estate
Revenue in € million
- 2020 38.1
- 2019 40.2
Earnings per share in €
- 2020 2.70
- 2019 3.57
EBIT in € million
- 2020 12.9
- 2019 16.5
33.9 %
EBIT margin
HHLA Segments
Container
HHLA’s container terminals link ships, rail freight and trucks to create an efficient transport chain. The terminals in Hamburg form the most important European hub between Asia and Central/Eastern Europe. HHLA also operates a container terminal in the Ukrainian city of Odessa and Tallinn in Estonia.
Container throughput
in TEU thousand
- 2020 6,776
- 2019 7,577
Revenue
in € million
- 2020 737.5
- 2019 799.7
57 %
Share of revenue
Intermodal
HHLA’s rail companies operate a comprehensive transport and terminal network for container transportation and connect ports on the North and Baltic seas, as well as the Northern Adriatic, with their hinterland. Transshipments by truck within the Port of Hamburg round off the service portfolio.
Container transport
in TEU thousand
- 2020 1,536
- 2019 1,565
Revenue
in € million
- 2020 476.8
- 2019 486.9
37 %
Share of revenue
Logistics
In this segment, HHLA pools a wide range of port-related services such as dry bulk, vehicle and fruit logistics. New business activities such as additive manufacturing or airborne logistics services complement the range of services. Additionally, HHLA markets its expertise in infrastructure and project development internationally.
Revenue in € million
- 2020 51.4
- 2019 59.0
4 %
Share of revenue
Real Estate
Following the sustainable renovation of Hamburg’s landmarked Speicherstadt historical warehouse district to create an exemplary redeveloped quarter, HHLA is committed to intelligent site development and preserving the city’s fishing tradition with the Hamburg-Altona fish market.
Revenue in € million
- 2020 38.1
- 2019 40.2
3 %
Share of revenue
Chronicle 2020
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11.02.2020
Hapag-Lloyd and HHLA to continue their close cooperation in Hamburg for another five years
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05.05.2020
Two additional container gantry cranes complete an additional mega-ship berth at CTB
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08.07.2020
New booking portal Modility, developed on initiative of HHLA, simplifies access to intermodal traffic
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10.07.2020
HHLA implements machine learning for the first time to increase productivity
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24.07.2020
HHLA signs agreement to take a majority stake in the multi-function terminal PLT in the Italian seaport of Trieste
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05.11.2020
HHLA expands intermodal activities to Ukraine
Sustainability
Ecology
Climate protection and the careful stewardship of natural resources are of particular importance for HHLA since terminals near cities need to be planned and operated with the environment especially in mind. HHLA exceeded its ambitious target to reduce specific CO2 emissions per container by at least 30 % compared to 2008 by 2020 with 42.8 %. HHLA wants to have cut its total CO2 emissions at least in half by 2030, and be climate-neutral by 2040.
Changes in specific CO2 emissions in %
- 2020 -42.8
- 2019 -38.7
Until 2040
HHLA intends to operate climate-neutral by 2040
Society
Highly competent and hard-working employees form the foundation of our success. As HHLA’s aims to provide its services predominantly with its own personnel, the long-term positive development of the company results in additional jobs, currently mainly in the Intermodal segment. Additionally, HHLA supports a large number of educational projects, especially for school children, and contributes to social responsibility through an active dialogue on topics relating to the port industry.
Development of headcount
- 2020 6,312
- 2019 6,296
14.1 %
more employees since 2016
€ 5.3 million
invested in educating and training in 2020
Economy
Net value added serves as an indicator for the economic added value generated by HHLA. Added value is shared between employees, shareholders, the state (taxes) and lenders. The largest proportion of 84.1 % went to employees.
Value added in € million
- 2020 656.0
- 2019 715.6
€ 3.3 billion
value added since 2016