Expected Earnings Position in 2015

In view of the gloomier economic outlook, coupled with persistently weak and declining volumes in the Container segment, and the earnings trend in the first nine months, HHLA has updated its 2015 earnings guidance for the Group.

With this in mind, HHLA now anticipates a strong decrease (previous guidance: moderate decrease) in volumes in its Container segment for the full year 2015. Moderate growth is still projected for container transport. At Group level, these volume expectations will lead to a moderate year-on-year decrease (previous guidance: slight decrease) in revenue for 2015. The consolidated operating result (EBIT) is expected to be in the region of € 150 million (previous guidance: on a par with the previous year, actual 2014: € 169.3 million).

Developments at the Port Logistics subgroup in 2015 are likely to follow the relative changes in these key figures for the Group. Accordingly, the operating result (EBIT) should be in the region of € 135 million (previous guidance: on a par with the previous year, actual 2014: € 155.6 million).

Unlike the Port Logistics subgroup, revenue of the Container segment will follow the anticipated volume trend with a strong decrease (previous guidance: moderate decrease). Depending on capacity utilisation, segment earnings will fall well below the previous forecast (between € 125 million and € 135 million).

Revenue in the Intermodal segment is also likely to follow the volume trend and achieve further moderate growth – in contrast to the development at the Port Logistics subgroup. Based on the earnings trend in the first nine months, a strong increase in earnings is still expected for the year as a whole.

A moderate increase in revenue and EBIT is expected for the Real Estate subgroup in 2015 (previous guidance: on a par with the prior-year figures).

Earnings in the Port Logistics subgroup and at Group level may also be depressed by exchange rate factors reported below EBIT as part of the financial result.