Notes on the reporting

The development of long-term interest rates led to an increase in the relevant interest rate used to calculate pension provisions. Provisions for pensions decreased correspondingly, while equity increased due to the reduction in actuarial effects brought about by interest rates. During the reporting year, HHLA acquired 50.01 % of shares in Piattaforma Logistica Trieste S.r.l., Trieste, Italy (renamed HHLA PLT Italy S.r.l.). The company was included in HHLA’s consolidated group for the first time as a fully consolidated company on 31 March 2021 and assigned to the Container segment. In addition, 80.0 % of shares in Mülheim an der Ruhr-based iSAM AG and its three subsidiaries were also acquired. The companies were included in HHLA’s consolidated group for the first time as fully consolidated companies on 31 March 2021 and assigned to the Logistics segment.

Due to the high level of flexibility required in the sector, handling and transport services are not generally ordered or guaranteed months in advance. Consequently, an order backlog and order trends do not serve as reporting indicators as they do in other industries.

The 2021 consolidated financial statements were prepared in accordance with the International Financial Reporting Standards (IFRS) applicable in the European Union, taking into consideration the interpretations of the International Financial Reporting Interpretations Committee (IFRIC). The Group management report was prepared in line with the requirements of German Accounting Standard no. 20 (GAS 20).