The impact of the coronavirus pandemic on HHLA’s earnings position in the first quarter of the financial year was significant but had no material impact on the recognition or measurement of the Group’s assets and liabilities as of 31 March 2020.
Within the Port Logistics subgroup, both the key economic indicators reported for the first three months of 2020 and HHLA’s actual economic performance were largely in line with the performance forecast in the 2019 Annual Report. With regard to the Real Estate subgroup, the development outlined in the 2019 Annual Report for the first three months of 2020 is not yet visible. There were no other particular events or transactions during the reporting period, either in HHLA’s operating environment or within the Group, that had a significant impact on its results of operations, net assets and financial position. Results of operations, net assets and financial position