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Annual Report 2025
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Annual Report 2025
Annual report
To our stakeholders
To our stakeholders
Foreword
Members of the Executive Board
Report of the Supervisory Board
Members of the Supervisory Board
HHLA share
Key figures
Key figures
Financial key figures
Non-financial key figures
Management report
Management report
Basic Group information
Basic Group information
Group structure
Operating activities
Legal framework
Market position
Business partners and customers
Procurement and supplier management
Development and innovation
Strategy and management
Strategy and management
Strategy
Corporate and value management
Economic report
Economic report
Economic environment
Economic environment
Macroeconomy
Sector
Overall view
Notes on the reporting
Earnings position
Financial position
Financial position
Balance sheet analysis
Investment analysis
Liquidity analysis
Financing analysis
Changes to the consolidated Group
Segment performance
Segment performance
Container
Intermodal
Logistics
Real Estate
Events after the balance sheet date
Notes to HHLA AG
Risks, opportunities and forecast
Risks, opportunities and forecast
Management of risks and opportunities
Overall assessment
Risks and opportunities
Business forecast
Business forecast
Macroeconomy
Sector
Group performance
Non-financial group statement
Non-financial group statement
General information
General information
About this report
Management of sustainability processes
Strategy
Strategy
Strategy, business model and value chain
Stakeholder interests and views
Impacts, risks and opportunities
Management of impacts, risks and opportunities
Environmental information
Environmental information
Climate change
Climate change
Material impacts, risks and opportunities
Management of impacts, risks and opportunities
Climate change mitigation metrics
GHG emissions
GHG removals and GHG mitigation projects financed through carbon credits
Biodiversity and ecosystems
Biodiversity and ecosystems
Material impacts, risks and opportunities
Management of impacts, risks and opportunities
Resource use and circular economy
Resource use and circular economy
Material impacts, risks and opportunities
Management of impacts, risks and opportunities
EU Taxonomy
EU Taxonomy
Framework and application
Analysis of economic activities
Collection of key figures
Result of the valuation
Own workforce
Own workforce
Material impacts, risks and opportunities
Management of impacts, risks and opportunities
Working conditions
Further education
Internal message channels
Structure and composition of own workforce
Responsible business conduct
Responsible business conduct
Material impacts, risks and opportunities
Corporate culture
Combating corruption and bribery
Political engagement and lobbying activities
Supplier management
Corporate management declaration
Corporate management declaration
DCGC and declaration of compliance
Remuneration report
Corporate governance practices
Executive Board
Executive Board
Working methods
The Executive Board
Composition and diversity
Progress of the implementation
Succession plan
Supervisory Board
Supervisory Board
Working methods
Committees
Composition and diversity
Requirements profile
Progress of the implementation
Self-assessment
Further information
Disclosures (HGB)
Shareholders and AGM
Accounting and auditing
Takeover-related disclosures and explanatory notes
Statement of the Executive Board
Financial statements
Financial statements
HHLA Group
HHLA Group
Income statement
Statement of comprehensive income
Balance sheet
Cash flow statement
Statement of changes in equity
Segment report
HHLA subgroups
HHLA subgroups
Income statement
Statement of comprehensive income
Balance sheet
Cash flow statement
Statement of changes in equity
Notes to the consolidated financial statements
Notes to the consolidated financial statements
General notes
General notes
1.
Basic information on the Group
2.
Consolidation principles
3.
Make-up of the Group
4.
Foreign currency translation
5.
Effects of new accounting standards
6.
Accounting and valuation principles
7.
Significant assumptions and estimates
Notes to the income statement
Notes to the income statement
8.
Revenue
9.
Changes in inventories
10.
Own work capitalised
11.
Other operating income
12.
Cost of materials
13.
Personnel expenses
14.
Other operating expenses
15.
Depreciation and amortisation
16.
Financial result
17.
Research costs
18.
Income tax
19.
Share of results attributable to non-controlling interests
20.
Earnings per share
21.
Dividend per share
Notes to the balance sheet
Notes to the balance sheet
22.
Intangible assets
23.
Property, plant and equipment
24.
Investment property
25.
Associates accounted for using the equity method
26.
Non-current financial assets
27.
Inventories
28.
Trade receivables
29.
Receivables from related parties
30.
Current financial assets
31.
Other non-financial assets
32.
Income tax receivables
33.
Cash, cash equivalents and short-term deposits
34.
Non-current assets held for sale
35.
Equity
36.
Pension provisions
37.
Other non-current and current provisions
38.
Non-current and current financial liabilities
39.
Trade liabilities
40.
Non-current and current liabilities to related parties
41.
Other non-current and current non-financial liabilities
42.
Income tax liabilities
Notes to the cash flow statement
Notes to the cash flow statement
43.
Notes to the cash flow statement
Notes to the segment report
Notes to the segment report
44.
Notes to the segment report
Other notes
Other notes
45.
Leases
46.
Contingent liabilities and other financial obligations
47.
Management of financial risks
48.
Related party disclosures
49.
Board members and mandates
50.
German Corporate Governance Code
51.
Auditing fees
52.
Events after the balance sheet date
Assurance of the legal representatives
Financial statements of HHLA AG
Independent auditor’s report
Audit opinion
Further information
Further information
Multi-year overview
Editorial notes
Financial calendar
To our stakeholders
To our stakeholders
Foreword
Members of the Executive Board
Report of the Supervisory Board
Members of the Supervisory Board
HHLA share
Key figures
Key figures
Financial key figures
Non-financial key figures
Management report
Management report
Basic Group information
Basic Group information
Group structure
Operating activities
Legal framework
Market position
Business partners and customers
Procurement and supplier management
Development and innovation
Strategy and management
Strategy and management
Strategy
Corporate and value management
Economic report
Economic report
Economic environment
Economic environment
Macroeconomy
Sector
Overall view
Notes on the reporting
Earnings position
Financial position
Financial position
Balance sheet analysis
Investment analysis
Liquidity analysis
Financing analysis
Changes to the consolidated Group
Segment performance
Segment performance
Container
Intermodal
Logistics
Real Estate
Events after the balance sheet date
Notes to HHLA AG
Risks, opportunities and forecast
Risks, opportunities and forecast
Management of risks and opportunities
Overall assessment
Risks and opportunities
Business forecast
Business forecast
Macroeconomy
Sector
Group performance
Non-financial group statement
Non-financial group statement
General information
General information
About this report
Management of sustainability processes
Strategy
Strategy
Strategy, business model and value chain
Stakeholder interests and views
Impacts, risks and opportunities
Management of impacts, risks and opportunities
Environmental information
Environmental information
Climate change
Climate change
Material impacts, risks and opportunities
Management of impacts, risks and opportunities
Climate change mitigation metrics
GHG emissions
GHG removals and GHG mitigation projects financed through carbon credits
Biodiversity and ecosystems
Biodiversity and ecosystems
Material impacts, risks and opportunities
Management of impacts, risks and opportunities
Resource use and circular economy
Resource use and circular economy
Material impacts, risks and opportunities
Management of impacts, risks and opportunities
EU Taxonomy
EU Taxonomy
Framework and application
Analysis of economic activities
Collection of key figures
Result of the valuation
Own workforce
Own workforce
Material impacts, risks and opportunities
Management of impacts, risks and opportunities
Working conditions
Further education
Internal message channels
Structure and composition of own workforce
Responsible business conduct
Responsible business conduct
Material impacts, risks and opportunities
Corporate culture
Combating corruption and bribery
Political engagement and lobbying activities
Supplier management
Corporate management declaration
Corporate management declaration
DCGC and declaration of compliance
Remuneration report
Corporate governance practices
Executive Board
Executive Board
Working methods
The Executive Board
Composition and diversity
Progress of the implementation
Succession plan
Supervisory Board
Supervisory Board
Working methods
Committees
Composition and diversity
Requirements profile
Progress of the implementation
Self-assessment
Further information
Disclosures (HGB)
Shareholders and AGM
Accounting and auditing
Takeover-related disclosures and explanatory notes
Statement of the Executive Board
Financial statements
Financial statements
HHLA Group
HHLA Group
Income statement
Statement of comprehensive income
Balance sheet
Cash flow statement
Statement of changes in equity
Segment report
HHLA subgroups
HHLA subgroups
Income statement
Statement of comprehensive income
Balance sheet
Cash flow statement
Statement of changes in equity
Notes to the consolidated financial statements
Notes to the consolidated financial statements
General notes
Notes to the income statement
Notes to the balance sheet
Notes to the cash flow statement
Notes to the segment report
Other notes
Assurance of the legal representatives
Financial statements of HHLA AG
Independent auditor’s report
Audit opinion
Further information
Further information
Multi-year overview
Editorial notes
Financial calendar
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Notes to the segment report
44.
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6. Accounting and valuation principles
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To our stakeholders
Foreword
To our stakeholders
Members of the Executive Board
To our stakeholders
Report of the Supervisory Board
To our stakeholders
Members of the Supervisory Board
To our stakeholders
HHLA share
Key figures
Financial key figures
Key figures
Non-financial key figures
Basic Group information
Market position
Basic Group information
Business partners and customers
Basic Group information
Development and innovation
Strategy and management
Strategy
Economic environment
Sector
Segment performance
Container
Segment performance
Intermodal
Segment performance
Logistics
Segment performance
Real Estate
Business forecast
Sector
Own workforce
Material impacts, risks and opportunities
Own workforce
Management of impacts, risks and opportunities
Own workforce
Working conditions
Own workforce
Further education
Own workforce
Internal message channels
Own workforce
Structure and composition of own workforce
Responsible business conduct
Material impacts, risks and opportunities
Responsible business conduct
Corporate culture
Responsible business conduct
Combating corruption and bribery
Responsible business conduct
Political engagement and lobbying activities
Responsible business conduct
Supplier management
Corporate management declaration
DCGC and declaration of compliance
Corporate management declaration
Remuneration report
Corporate management declaration
Corporate governance practices
Corporate management declaration
Executive Board
Corporate management declaration
Supervisory Board
Corporate management declaration
Disclosures (HGB)
Corporate management declaration
Shareholders and AGM
Corporate management declaration
Accounting and auditing
Management report
Takeover-related disclosures and explanatory notes
Notes to the income statement
Earnings per share
Notes to the income statement
Dividend per share
Other notes
German Corporate Governance Code
Financial statements
Assurance of the legal representatives
Further information
Multi-year overview