WEBVTT

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Ladies and Gentlemen,
The global economy faced

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major challenges in 2023.

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The ongoing war in Ukraine

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and the military escalation
in the Middle East

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have dampened
global economic growth,

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as have high inflation and
increased interest rates.

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As a result, the German
economy deteriorated

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to the extent that Germany
slid into a recession.

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This weak economic situation
also affected our business:

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Handling volumes were lower
than expectations had forecast

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at the start of the year.

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Furthermore, the
costs of materials,

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maintenance and employees

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also increased significantly

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as a result of inflation.

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This is reflected in the development
of revenue and results for our company.

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In this difficult environment,

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HHLA continued its modernization
program undaunted.

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Therefore, Germany's largest container
terminal at Burchardkai in Hamburg is being

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retrofitted during
day-to-day operations

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to automate the storage crane
systems and horizontal transport.

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We are absolutely certain

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that it is important now

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more than ever

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to invest in the future and
resilience of our business.

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As a result, we are tapping
into new growth areas

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and sustainability initiatives
on the way to climate neutrality.

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From our perspective,

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this is one of the most
crucial competitive factors

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for the future.

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Ladies and Gentlemen,

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although these uncertain times

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may make many things difficult,
they also present opportunities.

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For this reason, we are continuing to work
with confidence and courage towards the

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company's today
and future success.

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So that HHLA can
remain true to itself:

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A strong European
logistics company

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with sustainable, innovative
solutions for the logistics of the future.