Earnings Position

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Key Figures
in € million	1–3 \| 2018	1–3 \| 2017	Change
Revenue	315.2	305.1	3.3 %
EBITDA	77.8	75.1	3.6 %
EBITDA margin in %	24.7	24.6	0.1 pp
EBIT	47.9	45.2	5.9 %
EBIT margin in %	15.2	14.8	0.4 pp
Profit after tax and minority interests	23.7	24.4	- 2.8 %
ROCE in %	14.5	13.6	0.9 pp

HHLA’s performance data varied in the first quarter of 2018. Container throughput rose slightly by 2.6 % year-on-year to 1,824 thousand TEU (previous year: 1,778 thousand TEU). This was primarily due to an increase in Asia traffic. By contrast, there was a noticeable decline in container transport of 5.3 % to 350 thousand TEU (previous year: 370 thousand TEU). This development is partially due to the scheduled realignment of POLZUG activities.

The HHLA Group’s revenue rose moderately by 3.3 % to € 315.2 million during the reporting period (previous year: € 305.1 million). This was due in part to the increase in container throughput mentioned above as well as to longer transport distances in intermodal traffic.

Other operating income amounted to € 8.0 million (previous year: € 11.4 million).

The 1.5 % increase in operating expenses to € 277.3 million (previous year: € 273.1 million) was considerably less than the growth in revenue. The year-on-year increase resulted mainly from high capacity utilisation of facilities due to ship delays which could only be managed with the aid of additional resources.

The operating result (EBIT) rose significantly by 5.9 % to € 47.9 million in the reporting period (previous year: € 45.2 million). The EBIT margin amounted to 15.2 % (previous year: 14.8 %). In the Port Logistics subgroup, EBIT rose by 5.9 % to € 44.2 million (previous year: € 41.7 million). In the Real Estate subgroup, there was EBIT growth of 5.4 % to € 3.6 million (previous year: € 3.4 million).

Net expenses from the financial result increased by € 0.6 million or 19.8 % to € 3.7 million (previous year: € 3.1 million). The decrease in income from associated companies of € 0.5 million had a considerable impact on this item.

Profit after tax and minority interests was down slightly on the previous year at € 23.7 million (previous year: € 24.4 million). Earnings per share amounted to € 0.33 (previous year: € 0.34). The listed Port Logistics subgroup achieved earnings per share of € 0.31 (previous year: € 0.32). Earnings per share of the non-listed Real Estate subgroup were up on the prior-year figure at € 0.79 (previous year: € 0.72). Return on capital employed (ROCE) reached 14.5 % (previous year: 13.6 %).