Significant events and transactions
In the first quarter of 2024, HHLA’s group of consolidated companies was expanded to include the fully consolidated companies heyport GmbH, Hamburg, Germany, which was established on 17 January 2024 and has been assigned to the Logistics segment, and METRANS Rail Slovakia s.r.o., with registered offices in Dunajská Streda, Slovakia, which was established in the 2022 financial year and has been assigned to the Intermodal segment.
In the second quarter, HHLA’s group of consolidated companies was expanded to include the fully consolidated company passify GmbH, Hamburg, Germany, which was established on 4 April 2024 and has been assigned to the Logistics segment.
On 12 March 2024, HHLA signed a framework agreement concerning the indirect holding in Roland Spedition GmbH, Schwechat, Austria (RS GmbH). With a purchase and assignment agreement dated 6 June 2024, HHLA subsequently acquired 100 % of shares in Hera Logistics Holding GmbH (Hera GmbH), Schwechat, Austria, which in turn holds 51.0 % of shares in the operational company RS GmbH. The companies were included in HHLA’s group of consolidated companies in the second quarter and have been assigned to the Intermodal segment as fully consolidated companies.
Within the Port Logistics and Real Estate subgroups, HHLA’s actual economic development in the first half of 2024 was largely in line with the forecast published in the combined management report for 2023, which, at the time of preparing the Annual Report, was subject to considerable uncertainty due to geopolitical tensions, the ongoing war in Ukraine and the effects of the announced changes to the syndicate structures of shipping companies.
In the course of the current financial year, economic development in the main markets of the Port Logistics subgroup has been varied. Economic environment
The moderate cyclical increase in throughput volumes achieved in the first quarter of 2024 weakened slightly in the second quarter.
With this in mind, the forecasts for the Group and both subgroups have been partly adjusted. Whereas the expected rise in container throughput in the Port Logistics subgroup will be lower than originally assumed, the forecast increase in container transport has been adjusted upwards. Revenue expectations have also been upgraded for the Port Logistics subgroup and for the Group. Expected earnings for the Real Estate subgroup have been lowered. The EBIT expectations for the Port Logistics subgroup and the Group remain unchanged within the stated ranges. Business forecast
There were no other significant events or transactions in HHLA’s operating environment or within the Group during the reporting period which had a significant impact on its results of operations, net assets and financial position.