Container Segment

In the first half of 2017, HHLA’s container terminals handled a total of 3,586 thousand standard containers (TEU). This was 11.8 % more than one year earlier (previous year: 3,209 thousand TEU). Container throughput at the three container terminals in Hamburg also grew by 11.8 % to 3,441 thousand TEU (previous year: 3,077 thousand TEU). This trend was mainly driven by a recovery in Asian routes (+ 16.1 %) and significant growth in feeder traffic with the Baltic Sea ports (+ 22.4 %). The feeder ratio rose accordingly by 2.1 percentage points compared with the prior-year quarter to 25.0 % (previous year: 22.9 %). HHLA also profited from the reorganisation of shipping alliances and resulting gains in market share at the Port of Hamburg. Container throughput at the Container Terminal Odessa continued to make good progress with year-on-year growth of 10.1 % to 145 thousand TEU in the first half of 2017 (previous year: 132 thousand TEU).

The increase in volumes led to a corresponding rise in revenue, which was up 10.6 % on the first half of 2016 at € 372.3 million (previous year: € 336.6 million). Storage fees rose strongly as a result of shipping delays and the associated increase in dwell times for containers at HHLA’s container terminals, while the higher proportion of lower-margin feeder traffic in particular led to lower average revenue per container handled at the quayside. Consequently, average revenue declined by 1.0 % compared to the same period last year.

The segment’s EBIT costs rose by 7.7 % in the first half of 2017. Despite the growth in volumes, economies of scale on the cost side could not be fully realised. In conjunction with somewhat restricted capacity caused by ongoing extension and maintenance work at the container terminals in Hamburg, the high utilisation of storage capacity resulting from shipping delays and the reorganisation of container shipping companies’ service structures led to peaks in demand that could only be managed with the use of additional resources. Nevertheless, the year-on-year increase in the operating result (EBIT) of 25.8 % to € 68.1 million (previous year: € 54.2 million). The EBIT margin rose accordingly to 18.3 % (previous year: 16.1 %).