Foreword
View the video statement by the Chairwoman of the Executive Board in the online Annual Report.
Dear shareholders,
2024 was a year shaped by major global changes and challenges, which also put the logistics industry to the test. Geopolitical tensions, ongoing conflicts and volatile supply chains influenced global trade and required companies to be extremely adaptable. In addition, economic factors such as high inflation rates and rising energy costs weighed heavily on the global markets. The German economy in particular had to contend with recession and a marked decline in exports. In this challenging environment, HHLA proved its resilience and flexibility and further strengthened its position as a leading European logistics network provider.
At Group level, HHLA achieved positive revenue and earnings growth in 2024 in line with the upgraded earnings forecast it issued during the year. Transport volumes in the Intermodal segment made particularly good progress across the year as a whole. The strategic development of our European network was essential for us to achieve our goals. This included the successful acquisition of a majority stake in the Austrian intermodal service provider Roland Spedition and the positive development of our rail subsidiary Metrans. The HHLA container terminals also achieved year-on-year growth in container throughput. In this case, revenue and earnings benefited from longer dwell times for containers at the Hamburg terminals.
Despite the challenges, HHLA consistently pursued its strategy in line with the brand promise “The Power of Networks” over the past year and continued to invest in pioneering projects and the expansion of its network. After all, the future belongs to those ports with the strongest networks, the best connections and a sustainable direction. With this in mind, our rail subsidiary Metrans strengthened its position as a leading provider of intermodal transport solutions – in particular with the acquisition of Adria Rail and the commissioning of another terminal in Serbia.
With the expansion and strengthening of its hubs and intermodal connections, HHLA has reinforced its position as a European logistics network provider.
A further strategic cornerstone in 2024 was the modernisation and automation of our container terminals in Hamburg. We made decisive progress at Container Terminal Burchardkai: the first automated container transporters have now been successfully tested. Moreover, the expansion of the modern block storage has not only increased efficiency but is also helping to improve the sustainability of our processes. We are also setting new standards at Container Terminal Altenwerder: in December we received the first three remote-controlled container gantry cranes in Hamburg, which will be put into operation this year. At the same time, we continue to focus on the use of alternative drive technologies at Container Terminal Tollerort as part of our Clean Port & Logistics cluster. We are currently testing hydrogen-powered terminal vehicles here and put a hydrogen refuelling point into operation in summer 2024. And we also promote sustainable operations at our international terminals – in Trieste, we are working on the environmentally friendly expansion of terminal areas, making an important contribution to the long-term, sustainable future of the Adriatic port.
A major topic in the financial year 2024 was the shipping company MSC’s acquisition of a stake in HHLA. Over the course of the year, we concluded a business combination agreement with the City of Hamburg and MSC. This has secured vital strategic and financial commitments for the future of HHLA, particularly in terms of protecting the neutrality of our business model and the continuity of our strategy and investment planning. After fulfilling the final conditions, the transaction was closed in November. We are now on the threshold of starting a new chapter together in HHLA’s successful history.
HHLA has its sights set firmly on the future – despite the challenging market environment. As a leading provider of sustainable, digitalised and networked logistics solutions in Europe, we remain committed to making a significant contribution to the transport and energy transition. With targeted investments in innovative technologies, the ongoing expansion of our network and close cooperation with our clients and partners, we will continue to drive the transformation of our company and unlock new growth potential. In doing so, we aim to serve as a role model for the entire industry. Together, we are setting the course for a successful future for HHLA and contributing to its long-term stability and competitiveness.
Yours,
Angela Titzrath
Chairwoman of the Executive Board