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 risk situation for the HHLA Group is primarily influenced by market risks. The major factors influencing the risk and opportunity profile are the global economic trend, ongoing geopolitical tensions as well as developments on the market and in the competitive environment. The development of market risks is also influenced by long-term equity investments in HHLA and its subsidiaries. The development of these factors is monitored closely, and controllable costs and capital expenditure – where scalable – are adjusted flexibly in line with foreseeable developments. Moreover, long-term equity investments in HHLA and its subsidiaries also influence the development of market risks. Given the volatile interest rate trends and the greater relevance of bad debt risks, financial risks are increasing. IT security risks are also rising as a result of the external threat level.

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 continues to affect business activities in Ukraine and risks relating to overall global economic development. HHLA is in a position to bear these risks. The continued existence of the Group is therefore not at risk.