Half-year Financial Report January – June 2023

Risk and opportunity report

Russia’s invasion of Ukraine and global economic influences, in particular the ongoing development of inflation and interest rates, as well as calls for a partial regionalisation of production and supply chains, are also impacting HHLA’s volumes and earnings. Business forecast

It is hard to predict how these influences will develop and risk assessments continue to be subject to a high degree of uncertainty. The corresponding market risks therefore continue to be assessed as significant, with further risk occurrences a distinct possibility.

Otherwise, the statements made in the 2022 combined management report with regard to the HHLA Group’s risk and opportunity position continue to apply.