Annual financial statements of HHLA AG

The Annual Financial Statements and Combined Management Report of Hamburger Hafen und Logistik Aktiengesellschaft, Hamburg, for the 2021 financial year have been prepared according to the provisions of German commercial law and have been endorsed with an unqualified auditor’s opinion by the auditors of PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft.

Income statement for the period from 1 January to 31 December 2021

in €

 

2021

 

2020

Revenue

 

143,136,929.48

 

133,493,943.37

Increase or decrease in work in progress

 

- 315,223.39

 

105,468.11

Own work capitalised

 

652,505.87

 

655,771.79

Other operating income

 

8,034,563.74

 

1,984,131.21

of which income from translation differences

 

13,678.13

 

35,790.60

Cost of materials

 

13,177,694.02

 

13,289,876.55

Expenses for raw materials, consumables, supplies and purchased merchandise

 

5,838,390.60

 

6,649,719.08

Expenses for purchased services

 

7,339,303.42

 

6,640,157.47

Personnel expenses

 

110,205,451.35

 

105,629,192.12

Wages and salaries

 

93,775,546.62

 

92,061,979.17

Social security contributions and expenses for pension and similar benefits

 

16,429,904.73

 

13,567,212.95

of which for pensions

 

671,356.91

 

- 1,688,757.89

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

 

6,301,531.41

 

4,741,915.26

Other operating expenses

 

62,950,131.11

 

84,428,005.94

of which expenses from translation differences

 

59,929.54

 

42,539.21

Income from profit transfer agreements

 

104,297,623.30

 

62,462,586.74

Income from equity participations

 

55,829,870.46

 

52,975,480.68

of which from affiliated companies

 

50,940,977.21

 

48,731,638.03

Other interest and similar income

 

4,207,018.53

 

3,910,849.49

of which from affiliated companies

 

4,204,984.91

 

3,868,910.52

Depreciation and amortisation on financial assets

 

11,248,949.91

 

166,488.30

Expenses from assumed losses

 

2,655,913.71

 

20,541,820.77

Interest and similar expenses

 

27,615,375.45

 

27,636,182.32

of which from accrued interest

 

24,292,701.91

 

24,219,021.54

Taxes on income

 

19,543,603.46

 

- 11,860,691.87

of which income from the change unrecognised taxes

 

5,854,158.93

 

23,136,730.52

Profit after tax

 

62,144,637.57

 

11,015,442.00

Other taxes

 

155,565.26

 

160,501.03

Net profit for the year

 

61,989,072.31

 

10,854,940.97

Profit carried forward from the previous year

 

175,504,837.61

 

219,363,530.44

Dividend distributed

 

37,944,546.75

 

54,713,633.80

Unappropriated profit

 

199,549,363.17

 

175,504,837.61

Balance sheet as of 31 December 2021

in €

 

31.12.2021

 

31.12.2020

ASSETS

 

 

 

 

 

 

 

 

 

Intangible assets

 

 

 

 

Internally generated industrial and similar rights and values

 

6,809,866.89

 

7,554,946.10

Purchased software

 

1,002,897.95

 

667,840.50

Assets in development

 

17,356,864.28

 

15,360,344.10

 

 

25,169,629.12

 

23,583,130.70

Property, plant and equipment

 

 

 

 

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

 

2,533,924.03

 

4,308,873.28

Technical equipment and machinery

 

5,718.73

 

969,190.94

Other plant, operating and office equipment

 

3,427,868.22

 

3,272,261.95

Payments made on account and plant under construction

 

329,440.05

 

385,148.22

 

 

6,296,951.03

 

8,935,474.39

Financial assets

 

 

 

 

Interests in affiliated companies

 

433,831,063.73

 

426,119,324.71

Loans to affiliated companies

 

17,820,000.00

 

5,500,000.00

Equity investments

 

8,012,876.79

 

9,364,387.19

Non-current securities

 

715,276.40

 

715,785.13

 

 

460,379,216.92

 

441,699,497.03

Non-current assets

 

491,845,797.07

 

474,218,102.12

 

 

 

 

 

Inventories

 

 

 

 

Raw materials, consumables and supplies

 

243,019.47

 

245,314.50

Work in progress

 

432,088.88

 

747,312.27

 

 

675,108.35

 

992,626.77

Receivables and other assets

 

 

 

 

Trade receivables

 

727,939.56

 

1,079,427.43

Receivables from the Free and Hanseatic City of Hamburg

 

1,176,654.63

 

250.00

thereof with a maturity of more than one year

 

1,154,327.25

 

0

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

 

82,500,000.00

 

82,000,000.00

Receivables from affiliated companies

 

526,307,409.92

 

468,521,236.06

Receivables from investee companies

 

4,921.11

 

0

Other assets

 

8,027,015.75

 

8,211,348.89

thereof with a maturity of more than one year

 

66,568.00

 

66,568.00

 

 

618,743,940.97

 

559,812,262.38

 

 

 

 

 

Cash and cash equivalents

 

103,266,698.16

 

92,754,484.24

Current assets

 

722,685,747.48

 

653,559,373.39

 

 

 

 

 

Accruals and deferrals

 

1,270,991.29

 

1,024,319.17

 

 

 

 

 

Deferred tax assets

 

92,911,660.08

 

86,642,059.56

Balance sheet total

 

1,308,714,195.92

 

1,215,443,854.24

 

 

 

 

 

EQUITY AND LIABILITIES

 

 

 

 

Equity

 

 

 

 

Subscribed capital

 

 

 

 

Port Logistics subgroup

 

72,514,938.00

 

71,700,215.00

Real Estate subgroup

 

2,704,500.00

 

2,704,500.00

 

 

75,219,438.00

 

74,404,715.00

Capital reserve

 

 

 

 

Port Logistics subgroup

 

176,573,426.91

 

160,285,484.69

Real Estate subgroup

 

506,206.26

 

506,206.26

 

 

177,079,633.17

 

160,791,690.95

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

 

57,218,380.36

 

57,218,380.36

Real Estate subgroup

 

1,322,353.86

 

1,322,353.86

 

 

58,540,734.22

 

58,540,734.22

Retained earnings

 

63,870,734.22

 

63,870,734.22

Unappropriated profit

 

 

 

 

Port Logistics subgroup

 

158,592,452.13

 

137,107,716.31

Real Estate subgroup

 

40,956,911.04

 

38,397,121.30

 

 

199,549,363.17

 

175,504,837.61

Equity

 

515,719,168.56

 

474,571,977.78

Provisions

 

 

 

 

Provisions for pensions and similar obligations

 

342,699,304.20

 

334,760,818.15

Tax provisions

 

10,155,530.85

 

2,107,471.28

Other provisions

 

83,209,677.30

 

87,512,153.67

 

 

436,064,512.35

 

424,380,443.10

Liabilities

 

 

 

 

Liabilities from bank loans

 

186,180,586.77

 

166,180,586.77

Payments on account

 

415,088.88

 

709,028.27

Trade liabilities

 

5,406,169.15

 

3,428,756.93

Liabilities towards the Free and Hanseatic City of Hamburg

 

0

 

9,946.67

Liabilities towards affiliated companies

 

98,197,449.08

 

82,738,215.55

Liabilities towards investee companies

 

9,837,043.99

 

6,254,298.23

Other liabilities

 

46,656,497.31

 

47,348,407.76

of which from taxes

 

1,935,151.36

 

8,467,933.09

of which for social security

 

193,238.94

 

291,858.39

 

 

346,692,835.18

 

306,669,240.18

Accruals and deferrals

 

45.06

 

0

Deferred tax liabilities

 

10,237,634.77

 

9,822,193.18

Balance sheet total

 

1,308,714,195.92

 

1,215,443,854.24