Intermodal Segment

In the first half of 2016, HHLA’s transport companies again generated significant growth in the highly competitive market for container traffic in the hinterland of major seaports. Transport volumes rose by 6.2 % to 694 thousand standard containers (TEU) compared with 654 thousand TEU in the previous year. The trend was driven by growth in rail transportation, which again increased significantly year on year by 8.6 % to 537 thousand TEU (previous year: 494 thousand TEU). In particular, the connections from and to the north German seaports and between the Adriatic ports and Central and Eastern Europe achieved above-average growth. The decline in road transport volumes during the first quarter was recently recovered almost in full to reach 157 thousand TEU for the first six months of 2016 – just short of the prior-year figure (previous year: 160 thousand TEU).

Revenue growth of 5.5 % to € 190.8 million (previous year: € 180.8 million), slightly weaker than that of transport volumes. This was mainly due to changes to the route mix, which resulted in lower average transportation distances.

The operating result (EBIT) rose year on year to € 33.7 million (previous year: € 26.8 million) and significantly outperformed volume and revenue growth. The expansion of the company’s own traction fleet since the beginning of 2015 with the acquisition of additional locomotives had a positive effect on productivity rates and led to improved cost structures. Due to the transition period in the first few months of the previous year, this had not yet taken full effect. Better utilisation of trains and an improved mix of import and export volumes compared to last year also had a positive effect on segment earnings. The performance of individual companies within the segment varied greatly in some cases. Activities in Poland in particular continue to face a very challenging competitive environment.