On 21 September 2021, HHLA AG and COSCO SHIPPING Ports Limited (CSPL), a terminal operator and member of the COSCO Shipping Group listed on the Hong Kong stock exchange, signed an agreement regarding CSPL’s strategic non-controlling interest of 35.0 % in HHLA Container Terminal Tollerort (CTT), a 100 % subsidiary of HHLA AG. The completion of the transaction is still subject to various conditions relating to competition law and foreign trade law (conditions precedent), which had not yet been met at the time these consolidated financial statements were approved by the Executive Board. HHLA AG’s Supervisory Board has already approved the minority interest.
METRANS a.s, Prague, Czech Republic, acquired 100 % of the shares in CL EUROPORT Sp. z o.o. based in Malaszewicze, Poland, directly by means of a share purchase and transfer agreement dated 16 December 2021 and indirectly with the acquisition of the shares in CL EUROPORT s.r.o. based in Plzen, Czech Republic, by means of a share purchase and transfer agreement dated 16 December 2021. The company’s purpose is to operate a container terminal offering intermodal services relating to the handling of container trains, road transport and container storage. The first-time consolidation of the companies took place on the acquisition date on 4 January 2022. The company will be assigned to the Intermodal segment. Both companies will be included in HHLA’s group of consolidated companies as of 31 March 2022, please refer to Note 3.
After the end of the reporting period, the conflict over the political future of Ukraine escalated dramatically. With the invasion by Russian troops on 24 February 2022, it must be assumed that the economic environment and economic development in Ukraine will deteriorate further. Moreover, the impact of the sanctions announced and possible retaliatory measures on the global economy cannot be determined with any certainty. As a result of the developments outlined above, effects may arise that could have a negative impact on the results of operations, net assets and financial position of the HHLA Group. The potential for future revaluations cannot be ruled out.
HHLA is in a position to be able to bear these risks. The continued existence of the Group is therefore not at risk.
There were no other events of special significance after the balance sheet date of 31 December 2021.
Hamburg, Germany, 7 March 2022
Hamburger Hafen und Logistik Aktiengesellschaft
The Executive Board
Dr. Roland Lappin
In maritime logistics, a terminal is a facility where freight transported by various modes of transport is handled.
Transportation via several modes of transport (water, rail, road) combining the specific advantages of the respective carriers.