Container Segment

A total of 1,778 thousand standard containers (TEU) were handled at the HHLA container terminals in the first quarter of 2017 or 10.3 % more than in the previous year (1,612 thousand TEU). Container throughput at HHLA’s three container terminals was raised by 10.5 % to 1,707 thousand TEU (previous year: 1,545 thousand TEU). This trend was driven by a recovery in Asian routes (+ 10.8 %) and significant growth in feeder traffic with the Baltic Sea ports (+ 22.2 %). The feeder ratio rose accordingly by 2.4 percentage points compared with the prior-year quarter to 25.0 % (previous year: 22.6 %). Container throughput at the Container Terminal Odessa rose 5.4 % year-on-year to 71 thousand TEU in the first quarter of 2017 (previous year: 67 thousand TEU).

This volume growth led to an 8.0 % increase in revenue to € 182.8 million compared to the first quarter of 2016 (previous year: € 169.2 million). Storage fees rose as a result of shipping delays and the associated increase in dwell times for containers at HHLA’s container terminals, while the higher proportion of lower-margin feeder traffic in particular led to lower average revenue per container handled at the quayside. Consequently, average revenue declined by 2.1 % compared to the same period last year.

The segment’s EBIT costs rose by 6.8 % in the first three months. Despite the growth in volumes, economies of scale on the cost side could not be fully realised. The high utilisation of storage capacity resulting from shipping delays and slightly restricted capacity caused by ongoing extension and maintenance work at the container terminals in Hamburg led to peak loads that could only be managed with the use of additional resources. Nevertheless, the year-on-year increase in the operating result (EBIT) of 14.0 % to € 31.9 million (previous year: € 27.9 million), grew faster than volume. The EBIT margin rose accordingly to 17.4 % (previous year: 16.5 %).