Income statement

Income statement – HHLA subgroups
in € thousand; Port Logistics subgroup and Real Estate subgroup; annex to the condensed notes	1–6 \| 2026 Group	1–6 \| 2026 Port Logistics	1–6 \| 2026 Real Estate	1–6 \| 2026 Consolidation
Revenue	910,910	891,613	24,234	- 4,937
Changes in inventories	550	550	0	0
Own work capitalised	5,851	5,156	0	695
Other operating income	27,624	23,990	4,437	- 803
Cost of materials	- 308,723	- 304,492	- 4,720	489
Personnel expenses	- 367,972	- 366,582	- 1,390	0
Other operating expenses	- 111,912	- 107,097	- 9,371	4,556
Earnings before interest, taxes, depreciation and amortisation (EBITDA)	156,328	143,138	13,190	0
Depreciation and amortisation	- 104,990	- 99,475	- 5,703	188
Earnings before interest and taxes (EBIT)	51,338	43,663	7,487	188
Earnings from associates accounted for using the equity method	2,815	2,815	0	0
Interest income	4,603	4,471	140	- 8
Interest expenses	- 38,518	- 36,495	- 2,031	8
Financial result	- 31,100	- 29,209	- 1,891	0
Earnings before tax (EBT)	20,238	14,454	5,596	188
Income tax	- 16,795	- 15,089	- 1,669	- 37
Profit after tax	3,442	- 636	3,927	151
of which attributable to non-controlling interests	7,684	7,684	0
of which attributable to shareholders of the parent company	- 4,242	- 8,320	4,078
Earnings per share, basic and diluted, in €	- 0.06	- 0.11	1.51

Income statement – HHLA subgroups
in € thousand; Port Logistics subgroup and Real Estate subgroup; annex to the condensed notes	1–6 \| 2025 Group	1–6 \| 2025 Port Logistics	1–6 \| 2025 Real Estate	1–6 \| 2025 Consolidation
Revenue	884,521	865,746	23,380	- 4,604
Changes in inventories	- 2,738	- 2,738	0	0
Own work capitalised	4,219	3,610	0	609
Other operating income	30,278	27,501	3,788	- 1,011
Cost of materials	- 302,852	- 298,754	- 4,463	365
Personnel expenses	- 339,899	- 338,448	- 1,451	0
Other operating expenses	- 108,327	- 103,541	- 9,427	4,641
Earnings before interest, taxes, depreciation and amortisation (EBITDA)	165,202	153,375	11,827	0
Depreciation and amortisation	- 85,850	- 80,953	- 5,085	188
Earnings before interest and taxes (EBIT)	79,352	72,421	6,743	188
Earnings from associates accounted for using the equity method	2,552	2,552	0	0
Interest income	6,678	5,984	703	- 10
Interest expenses	- 37,711	- 35,450	- 2,271	10
Financial result	- 28,481	- 26,913	- 1,568	0
Earnings before tax (EBT)	50,870	45,508	5,175	188
Income tax	- 18,745	- 17,169	- 1,528	- 48
Profit after tax	32,126	28,339	3,646	141
of which attributable to non-controlling interests	13,056	13,056	0
of which attributable to shareholders of the parent company	19,070	15,283	3,787
Earnings per share, basic and diluted, in €	0.25	0.21	1.40

Income statement – HHLA subgroups
in € thousand; Port Logistics subgroup and Real Estate subgroup; annex to the condensed notes	4–6 \| 2026 Group	4–6 \| 2026 Port Logistics	4–6 \| 2026 Real Estate	4–6 \| 2026 Consolidation
Revenue	459,968	449,842	12,656	- 2,530
Changes in inventories	160	160	0	0
Own work capitalised	3,273	2,912	0	361
Other operating income	13,443	11,453	2,388	- 398
Cost of materials	- 156,973	- 154,873	- 2,317	217
Personnel expenses	- 185,278	- 184,571	- 707	0
Other operating expenses	- 55,620	- 53,090	- 4,880	2,351
Earnings before interest, taxes, depreciation and amortisation (EBITDA)	78,973	71,833	7,140	0
Depreciation and amortisation	- 58,130	- 55,332	- 2,879	81
Earnings before interest and taxes (EBIT)	20,844	16,502	4,260	81
Earnings from associates accounted for using the equity method	1,581	1,581	0	0
Interest income	2,004	1,951	61	- 8
Interest expenses	- 19,263	- 18,275	- 996	8
Financial result	- 15,677	- 14,743	- 935	0
Earnings before tax (EBT)	5,167	1,760	3,326	81
Income tax	- 7,503	- 6,502	- 985	- 16
Profit after tax	- 2,337	- 4,743	2,340	66
of which attributable to non-controlling interests	2,763	2,763	0
of which attributable to shareholders of the parent company	- 5,100	- 7,507	2,406
Earnings per share, basic and diluted, in €	- 0.07	- 0.10	0.89

Income statement – HHLA subgroups
in € thousand; Port Logistics subgroup and Real Estate subgroup; annex to the condensed notes	4–6 \| 2025 Group	4–6 \| 2025 Port Logistics	4–6 \| 2025 Real Estate	4–6 \| 2025 Consolidation
Revenue	448,918	439,407	11,757	- 2,244
Changes in inventories	585	585	0	0
Own work capitalised	2,219	1,898	0	321
Other operating income	14,589	13,475	1,610	- 496
Cost of materials	- 147,690	- 145,649	- 2,219	178
Personnel expenses	- 174,464	- 173,727	- 737	0
Other operating expenses	- 54,223	- 51,660	- 4,803	2,240
Earnings before interest, taxes, depreciation and amortisation (EBITDA)	89,934	84,328	5,608	0
Depreciation and amortisation	- 43,126	- 40,663	- 2,544	81
Earnings before interest and taxes (EBIT)	46,809	43,664	3,064	81
Earnings from associates accounted for using the equity method	1,429	1,429	0	0
Interest income	2,963	2,662	310	- 10
Interest expenses	- 20,533	- 19,401	- 1,142	10
Financial result	- 16,141	- 15,309	- 832	0
Earnings before tax (EBT)	30,667	28,355	2,231	81
Income tax	- 11,729	- 11,130	- 578	- 20
Profit after tax	18,940	17,225	1,652	62
of which attributable to non-controlling interests	7,736	7,736	0
of which attributable to shareholders of the parent company	11,204	9,489	1,714
Earnings per share, basic and diluted, in €	0.15	0.13	0.63

Half-year Financial Report January – June 2026