jump to

Annual Report 2025

Segment report

Segment report – HHLA Group

in € thousand; business segments;
annex to the notes

 

Port Logistics subgroup

 

Real Estate subgroup

 

Total

 

Consolidation and reconciliation with Group

 

Group

 

 

Container

 

Intermodal

 

Logistics

 

Holding/Other

 

Real Estate

 

 

 

 

 

 

 

 

2025

 

2024

 

2025

 

2024

 

2025

 

2024

 

2025

 

2024

 

2025

 

2024

 

2025

 

2024

 

2025

 

2024

 

2025

 

2024

Segment revenue from non-affiliated third parties

 

839,591

 

769,492

 

795,893

 

710,424

 

62,948

 

60,769

 

13,998

 

14,082

 

43,759

 

43,504

 

1,756,189

 

1,598,270

 

0

 

0

 

1,756,189

 

1,598,270

Inter-segment revenue

 

3,574

 

3,842

 

1,074

 

856

 

29,879

 

22,953

 

141,367

 

130,882

 

2,588

 

2,604

 

178,482

 

161,138

 

- 178,482

 

- 161,138

 

0

 

0

Total segment revenue

 

843,165

 

773,334

 

796,967

 

711,280

 

92,827

 

83,722

 

155,365

 

144,964

 

46,347

 

46,108

 

1,934,671

 

1,759,408

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of materials

 

140,780

 

138,160

 

421,720

 

385,407

 

17,696

 

17,071

 

8,343

 

8,999

 

9,321

 

9,512

 

597,859

 

559,150

 

- 2,529

 

- 2,572

 

595,330

 

556,578

Personnel expenses

 

405,073

 

351,559

 

146,740

 

129,964

 

39,757

 

37,629

 

127,597

 

116,692

 

2,928

 

2,783

 

722,095

 

638,628

 

- 38,291

 

- 40,281

 

683,804

 

598,347

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EBITDA

 

167,817

 

167,820

 

151,539

 

134,976

 

20,203

 

17,110

 

- 26,520

 

- 35,587

 

25,605

 

25,623

 

338,645

 

309,942

 

- 2,028

 

- 915

 

336,617

 

309,027

EBITDA margin

 

19.9 %

 

21.7 %

 

19.0 %

 

19.0 %

 

21.8 %

 

20.4 %

 

- 17.1 %

 

- 24.5 %

 

55.2 %

 

55.6 %

 

 

 

 

 

 

 

 

 

 

 

 

EBIT

 

73,627

 

78,693

 

103,667

 

83,659

 

6,544

 

- 374

 

- 37,742

 

- 45,159

 

15,408

 

16,114

 

161,504

 

132,933

 

- 1,049

 

1,336

 

160,455

 

134,270

EBIT margin

 

8.7 %

 

10.2 %

 

13.0 %

 

11.8 %

 

7.0 %

 

- 0.4 %

 

- 24.3 %

 

- 31.2 %

 

33.2 %

 

34.9 %

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments in property, plant and equipment and investment property

 

217,384

 

148,617

 

57,720

 

41,774

 

80,151

 

64,215

 

84,989

 

3,607

 

35,054

 

21,880

 

475,298

 

280,093

 

- 12

 

0

 

475,286

 

280,093

Investments in intangible assets

 

14,443

 

12,815

 

5,362

 

2,966

 

7,803

 

8,186

 

1,790

 

2,093

 

9

 

12

 

29,406

 

26,073

 

- 3,774

 

- 3,497

 

25,633

 

22,575

Total investments

 

231,827

 

161,432

 

63,082

 

44,740

 

87,954

 

72,401

 

86,779

 

5,700

 

35,063

 

21,892

 

504,704

 

306,166

 

- 3,786

 

- 3,497

 

500,919

 

302,668

Depreciation of property, plant and equipment and investment property

 

90,456

 

85,356

 

44,885

 

49,386

 

11,010

 

10,869

 

8,011

 

6,972

 

10,192

 

9,503

 

164,553

 

162,086

 

- 307

 

- 1,535

 

164,245

 

160,550

thereof impairment

 

0

 

9

 

0

 

0

 

0

 

13

 

0

 

0

 

0

 

0

 

0

 

22

 

0

 

0

 

0

 

22

Amortisation of intangible assets

 

3,735

 

3,770

 

2,987

 

1,931

 

2,649

 

6,615

 

3,212

 

2,600

 

5

 

6

 

12,588

 

14,923

 

- 672

 

- 717

 

11,917

 

14,207

thereof impairment

 

0

 

0

 

0

 

0

 

0

 

3,942

 

0

 

0

 

0

 

0

 

0

 

3,942

 

0

 

- 63

 

0

 

3,879

Total amortisation and depreciation

 

94,191

 

89,126

 

47,872

 

51,317

 

13,659

 

17,484

 

11,223

 

9,572

 

10,197

 

9,509

 

177,141

 

177,009

 

- 979

 

- 2,252

 

176,162

 

174,757

Equity investment result

 

1,811

 

2,534

 

0

 

0

 

5,670

 

4,446

 

0

 

0

 

0

 

0

 

7,482

 

6,980

 

0

 

0

 

7,482

 

6,980

Non-cash items

 

26,832

 

11,680

 

- 171

 

5,956

 

1,723

 

880

 

16,292

 

19,011

 

288

 

11,658

 

44,964

 

49,184

 

- 13

 

- 73

 

44,951

 

49,111

Container throughput in thousand TEU

 

6,295

 

5,970

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Container transport in thousand TEU

 

 

 

1,982

 

1,787

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment report – HHLA Group

in € thousand; business segments;
annex to the notes

 

Port Logistics subgroup

 

Real Estate subgroup

 

Total

 

Consolidation and reconciliation with Group

 

Group

 

 

Container

 

Intermodal

 

Logistics

 

Holding/Other

 

Real Estate

 

 

 

 

 

 

 

 

2025

 

2024

 

2025

 

2024

 

2025

 

2024

 

2025

 

2024

 

2025

 

2024

 

2025

 

2024

 

2025

 

2024

 

2025

 

2024

Segment revenue from non-affiliated third parties

 

839,591

 

769,492

 

795,893

 

710,424

 

62,948

 

60,769

 

13,998

 

14,082

 

43,759

 

43,504

 

1,756,189

 

1,598,270

 

0

 

0

 

1,756,189

 

1,598,270

Inter-segment revenue

 

3,574

 

3,842

 

1,074

 

856

 

29,879

 

22,953

 

141,367

 

130,882

 

2,588

 

2,604

 

178,482

 

161,138

 

- 178,482

 

- 161,138

 

0

 

0

Total segment revenue

 

843,165

 

773,334

 

796,967

 

711,280

 

92,827

 

83,722

 

155,365

 

144,964

 

46,347

 

46,108

 

1,934,671

 

1,759,408

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of materials

 

140,780

 

138,160

 

421,720

 

385,407

 

17,696

 

17,071

 

8,343

 

8,999

 

9,321

 

9,512

 

597,859

 

559,150

 

- 2,529

 

- 2,572

 

595,330

 

556,578

Personnel expenses

 

405,073

 

351,559

 

146,740

 

129,964

 

39,757

 

37,629

 

127,597

 

116,692

 

2,928

 

2,783

 

722,095

 

638,628

 

- 38,291

 

- 40,281

 

683,804

 

598,347

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EBITDA

 

167,817

 

167,820

 

151,539

 

134,976

 

20,203

 

17,110

 

- 26,520

 

- 35,587

 

25,605

 

25,623

 

338,645

 

309,942

 

- 2,028

 

- 915

 

336,617

 

309,027

EBITDA margin

 

19.9 %

 

21.7 %

 

19.0 %

 

19.0 %

 

21.8 %

 

20.4 %

 

- 17.1 %

 

- 24.5 %

 

55.2 %

 

55.6 %

 

 

 

 

 

 

 

 

 

 

 

 

EBIT

 

73,627

 

78,693

 

103,667

 

83,659

 

6,544

 

- 374

 

- 37,742

 

- 45,159

 

15,408

 

16,114

 

161,504

 

132,933

 

- 1,049

 

1,336

 

160,455

 

134,270

EBIT margin

 

8.7 %

 

10.2 %

 

13.0 %

 

11.8 %

 

7.0 %

 

- 0.4 %

 

- 24.3 %

 

- 31.2 %

 

33.2 %

 

34.9 %

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments in property, plant and equipment and investment property

 

217,384

 

148,617

 

57,720

 

41,774

 

80,151

 

64,215

 

84,989

 

3,607

 

35,054

 

21,880

 

475,298

 

280,093

 

- 12

 

0

 

475,286

 

280,093

Investments in intangible assets

 

14,443

 

12,815

 

5,362

 

2,966

 

7,803

 

8,186

 

1,790

 

2,093

 

9

 

12

 

29,406

 

26,073

 

- 3,774

 

- 3,497

 

25,633

 

22,575

Total investments

 

231,827

 

161,432

 

63,082

 

44,740

 

87,954

 

72,401

 

86,779

 

5,700

 

35,063

 

21,892

 

504,704

 

306,166

 

- 3,786

 

- 3,497

 

500,919

 

302,668

Depreciation of property, plant and equipment and investment property

 

90,456

 

85,356

 

44,885

 

49,386

 

11,010

 

10,869

 

8,011

 

6,972

 

10,192

 

9,503

 

164,553

 

162,086

 

- 307

 

- 1,535

 

164,245

 

160,550

thereof impairment

 

0

 

9

 

0

 

0

 

0

 

13

 

0

 

0

 

0

 

0

 

0

 

22

 

0

 

0

 

0

 

22

Amortisation of intangible assets

 

3,735

 

3,770

 

2,987

 

1,931

 

2,649

 

6,615

 

3,212

 

2,600

 

5

 

6

 

12,588

 

14,923

 

- 672

 

- 717

 

11,917

 

14,207

thereof impairment

 

0

 

0

 

0

 

0

 

0

 

3,942

 

0

 

0

 

0

 

0

 

0

 

3,942

 

0

 

- 63

 

0

 

3,879

Total amortisation and depreciation

 

94,191

 

89,126

 

47,872

 

51,317

 

13,659

 

17,484

 

11,223

 

9,572

 

10,197

 

9,509

 

177,141

 

177,009

 

- 979

 

- 2,252

 

176,162

 

174,757

Equity investment result

 

1,811

 

2,534

 

0

 

0

 

5,670

 

4,446

 

0

 

0

 

0

 

0

 

7,482

 

6,980

 

0

 

0

 

7,482

 

6,980

Non-cash items

 

26,832

 

11,680

 

- 171

 

5,956

 

1,723

 

880

 

16,292

 

19,011

 

288

 

11,658

 

44,964

 

49,184

 

- 13

 

- 73

 

44,951

 

49,111

Container throughput in thousand TEU

 

6,295

 

5,970

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Container transport in thousand TEU

 

 

 

1,982

 

1,787

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Topic filter

Results for