Overall assessment of risks and opportunities

The risks and opportunities for the HHLA Group reflect possible positive or negative deviations from the reported forecast.

The HHLA Group’s risk position is principally characterised by market risks. The major factors influencing the risk and opportunity profile are the global economic trend, ongoing geopolitical tensions and developments on the market and in the competitive environment. The development of these factors is monitored closely, and controllable costs and capital expenditure – where scalable – are adjusted flexibly in line with foreseeable developments. Operating risks associated with planned transformation projects are also becoming increasingly relevant and leading to the further ramping up of risk management measures, for example in the form of comprehensive communication measures. Furthermore, strategic risks in the form of restrictions in the ability of ships to navigate the Elbe are once again increasing in significance.

The overview below summarises the individual material risks faced by the HHLA Group, classifying them according to risk areas and listing them in order of decreasing significance.

Since the economic prospects and the assessment of customer- and competitor-related market risks are unpredictable, this description of risks and opportunities merely serves as a snapshot. Changes in the HHLA Group’s risk and opportunity profile are regularly reported in the half-yearly financial report and – where material – in the interim statements for the first and third quarters.

Analysis of the risks and the capability of the Group indicates that there are no discernible risks at present that could jeopardise HHLA’s continued existence. The Executive Board of HHLA is confident that it will be able to exploit any future opportunities while avoiding exposure to unacceptably high risks. The following section describes the material risks and opportunities identified at Group level, taking into account any measures which have been put in place. No other material risks have currently been identified, while insurance is largely in place to cover those that do exist.

The war in Ukraine has led to an increase in risks affecting business activities in Ukraine and overall global economic development. HHLA is in a position to bear these risks. The continued existence of the Group is therefore not at risk.