Intermodal Segment

Key Figures

HHLA’s rail and road-based transport companies achieved slight growth in the highly competitive market for container traffic in the hinterland of major seaports. In a declining overall market, transport volumes climbed by 2.4 % to 996 thousand standard containers (TEU), compared to 973 thousand TEU in the same period last year. After recording strong growth in the first quarter and a slight decline in the second quarter of 2015, transport volumes rose by 0.8 % in the third quarter to slightly exceed the prior-year figure.

The trend as of September 2015 was primarily driven by growth in railway transportation, with links between the Adriatic ports and Central and Eastern Europe growing at an above-average rate. Transport volumes from the Polish seaports were also increased significantly.

With growth of 3.6 % to € 272.8 million (previous year € 263.4 million), revenue outpaced transport volume gains. The main reasons were a change in the route mix and a rise in the average transportation distance, due in part to an increase in the share of railway traffic from 74.5 % to 76.5 % of HHLA’s total intermodal transportation.

Compared to the same period last year, the operating result (EBIT) doubled to € 44.0 million (previous year: € 22.0 million) and significantly outperformed volume and revenue growth. The expansion of the company’s own traction since the beginning of 2015 with the acquisition of additional locomotives had a particularly positive effect on productivity rates and led to improved cost structures. Better utilisation of trains and a more beneficial mix of import and export volumes compared to last year also had a positive effect on segment earnings. This encouraging development in segment earnings was also helped by improvements in the cost structure and the implementation of restructuring measures by the Polzug Group, as well as a one-off gain of € 2.5 million from the sale of a property in Poland. The company continues to operate in a very challenging competitive environment.

HHLA’s Intermodal companies are continuing to drive the expansion of their own traction and the hinterland network. As well as ordering ten additional multi-system locomotives, Metrans acquired land in the Hungarian capital of Budapest and laid the foundation for a new rail hub terminal. Its location makes it the perfect interface between the North European seaports and South-East Europe. With this fourth hub and shuttle terminal, Metrans will further strengthen the link between the growth markets of Central and Eastern Europe and HHLA’s hinterland network. At the same time, the ports on the Adriatic sea and in Greece can be served better. The terminal is expected to begin operations in 2017.