Liquidity analysis
in € million |
|
2023 |
|
2022 |
|---|---|---|---|---|
Financial funds as of 01.01. |
|
171.5 |
|
173.0 |
Cash flow from operating activities |
|
224.4 |
|
279.3 |
Cash flow from investing activities |
|
- 251.5 |
|
- 152.6 |
Free cash flow |
|
- 27.1 |
|
126.7 |
Cash flow from financing activities |
|
97.7 |
|
- 127.9 |
Change in financial funds |
|
70.6 |
|
- 1.2 |
Change in financial funds due to exchange rates |
|
0.2 |
|
- 0.3 |
Financial funds as of 31.12. |
|
242.3 |
|
171.5 |
Short-term deposits |
|
0 |
|
20.0 |
Available liquidity |
|
242.3 |
|
191.5 |
In the reporting period, cash flow from operating activities of € 212.8 million (previous year: € 279.3 million) mainly comprised earnings before interest and taxes of € 109.4 million (previous year: € 220.4 million), write-downs and write-ups on non-financial assets of € 178.4 million (previous year: € 175.9 million) and the decrease in trade receivables and other assets of € 50.6 million (previous year: increase of € 23.1 million). The main item with an opposing effect were lower income tax payments of € 55.9 million (previous year: € 73.1 million).
Investing activities led to a cash outflow of € 251.5 million (previous year: € 152.6 million). This chiefly related to payments for investments in property, plant and equipment and investment property amounting to € 258.4 million (previous year: € 165.5 million).
Free cash flow – the total cash flow from operating and investing activities – decreased to € - 27.1 million (previous year: € 126.7 million).
Cash flow from financing activities came to € 97.7 million in the reporting period (previous year: € - 127.9 million) and mainly comprised newly taken out financial loans of € 248.5 million (previous year: € 67.3 million) as well as payments received from the reduction of shareholdings in fully consolidated companies. There was an opposing effect from dividend payments and settlement obligations to shareholders of the parent company totalling € 60.3 million (previous year: € 60.1 million) and to non-controlling interests totalling € 43.9 million (previous year: € 35.2 million), as well as payments for the redemption of lease obligations totalling € 51.2 million (previous year: € 49.4 million).
The HHLA Group had sufficient liquidity as of year-end 2023. There were no liquidity bottlenecks in the course of the financial year. Financial funds totalled € 242.3 million as of 31 December 2023 (31 December 2022: € 171.5 million) and corresponded to the available liquidity as of the balance sheet date (as of 31 December 2022: € 191.5 million). As of 31 December 2023, available liquidity comprised cash pooling receivables from HGV Hamburger Gesellschaft für Vermögens- und Beteiligungsmanagement mbH amounting to € 44.8 million (31 December 2022: € 75.1 million) as well as cash, cash equivalents and short-term deposits of € 197.5 million (31 December 2022: € 116.4 million).