Container Segment

In the first half of 2016, HHLA’s container terminals handled a total of 3,209 thousand standard containers (TEU), 5.7 % fewer than in the prior-year period (previous year: 3,404 thousand TEU). The 6.2 % decrease in container throughput at the Hamburg terminals to 3,077 thousand TEU (previous year: 3,279 thousand TEU) was mainly attributable to the ongoing weakness of Asian routes (Far East–Northern Europe). Overall, these were down 9.0 % on the prior-year period. Feeder traffic with the Baltic Sea ports in particular also declined in the reporting period, falling by 8.5 % due to an increase in shipping companies calling directly at ports in the Baltic region. By contrast, feeder traffic to and from Russia saw a slight increase in overall volumes in the first half of 2016, following a significant drop in volumes in the previous year. Container throughput at the Container Terminal Odessa continued to make good progress, rising by 5.9 % from 125 thousand TEU in the previous year to 132 thousand TEU.

Revenue declined in line with volumes, falling by 4.4 % to € 336.6 million (previous year: € 351.9 million). However, the decrease was less pronounced than in the first half of 2015. Average revenue per container handled at the quayside increased, mainly as a result of individual rate adjustments and a slight decrease in the feeder ratio to 22.9 % (previous year: 23.4 %) in Hamburg.

The segment’s EBIT costs could not be reduced in proportion to lower seaborne throughput. They declined by just 4.1 % due to the high proportion of fixed costs associated with container throughput. While the cost of materials decreased disproportionately, there was a slight increase in personnel expenses per unit despite the significant reduction in the number of external staff. Due to the current utilisation of facilities and in particular the peak loads associated with mega-ships, personnel expenses could only be adjusted to falling volumes to a limited extent. The operating result (EBIT) declined by 5.9 % to € 54.2 million as a consequence of the volume trend (previous year: € 57.5 million), while EBIT per container handled remained constant at € 16.9. The EBIT margin was also virtually unchanged at 16.1 % (previous year: 16.3 %).