Overall view of the course of business

Despite the ongoing coronavirus pandemic, the HHLA Group made good progress in 2021. There were no other particular events or transactions during the reporting period, either in HHLA’s operating environment or within the Group, that had a significant impact on its results of operations, net assets and financial position.

The guidance for 2021 given in the 2020 Annual Report was already raised for container transport and revenue of the Port Logistics subgroup and Group on publication of the half-year results. In October, the expectation for the financial year 2021 was adapted for almost all key figures. The revenue development for the Port Logistics subgroup and the Group was concretised to a range of € 1,410 million and € 1,450 million respectively (previously: significant increase in each case). Group EBIT was raised to around € 205 million (previously: € 153 to 178 million) and EBIT for the Port Logistics subgroup to around € 190 million (previously: € 140 to 165 million). Capital expenditure was also adjusted from the previous range of € 250 to 280 million in the Group to around € 200 million as a result of delays to planned investments in assets.

While container throughput at the end of the year was only slightly up on the previous year (expected: moderate increase), all other key figures confirmed or exceeded the most recent forecast.

At the end of the reporting period on 31 December 2021, HHLA’s economic and financial position proved to be stable in the 2021 financial year. The equity ratio rose by 3.3 percentage points to 25.2 % (previous year: 21.9 %). The gearing ratio changed significantly from 5.1 to 3.6. There were no further refinancing needs as of the balance sheet date.