Annual Report 2022

Investment analysis

Capital expenditure totalled € 203.1 million in the 2022 financial year (previous year: € 231.6 million). This figure includes additions of € 18.8 million from rights of use (rent and leases) not recognised as a direct cash expense (previous year: € 43.4 million). Capital expenditure focused on extending the Hamburg container terminals and expanding intermodal transport capacities. Investment projects were mainly funded by the operating cash flow generated in the financial year.

Property, plant and equipment accounted for € 168.0 million (previous year: € 197.8 million) of capital expenditure, while intangible assets accounted for € 13.6 million (previous year: € 11.0 million) and investment property for € 21.5 million (previous year: € 22.8 million).

Investments amounting to € 80.4 million were made in the Container segment (previous year: € 100.5 million). Capital expenditure was dominated by the procurement of handling equipment and storage capacities at the Hamburg container terminals. Investments in the Intermodal segment amounted to € 82.6 million (previous year: € 93.4 million). The METRANS Group accounted for most of this capital expenditure, investing mainly in container wagons and locomotives as well as in the development of existing and new inland terminals. Capital expenditure in the Logistics segment amounted to € 14.1 million (previous year: € 4.8 million). The pro forma Holding/Other segment invested a total of € 4.1 million (previous year: € 8.8 million). Capital expenditure of € 22.7 million in the Real Estate segment (previous year: € 24.2 million) was mainly for the development of the Speicherstadt historical warehouse district.

Investments in the Container segment focus on enhancing the productivity of existing terminal areas by using cutting-edge handling technology and developing berth places for the trend in ship sizes. Meanwhile, in the Intermodal segment, investments are focused on acquiring sufficient wagons and locomotives to meet rising transport volumes while also improving the performance and range of its hinterland connections.

As of year-end, there were other financial liabilities for outstanding purchase commitments totalling € 225.0 million (previous year: € 167.9 million). This figure includes € 155.6 million (previous year: € 122.7 million) for the capitalisation of property, plant and equipment.

Investments, depreciation and amortisation

in € million

Investments, depreciation and amortisation (bar chart)

Capital expenditure by segment

Capital expenditure 2022: € 203 million

Capital expenditure by segment (pie chart)
A port’s catchment area.
Intermodal/Intermodal systems
Transportation via several modes of transport (water, rail, road) combining the specific advantages of the respective carriers.
Payments for investments in property, plant and equipment, investment property and intangible assets.
Operating cash flow
According to literature on IFRS key figures: EBIT – taxes + depreciation and amortisation – write-backs +/– changes in non-current provisions (excl. interest portion) +/– gain/loss on the disposal of property, plant and equipment + changes in working capital.
In maritime logistics, a terminal is a facility where freight transported by various modes of transport is handled.

Topic filter