Earnings position

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Key figures
in € million	1–3 \| 2021	1–3 \| 2020	Change
Revenue	348.7	335.7	3.9 %
EBITDA	88.4	77.5	14.1 %
EBITDA margin in %	25.3	23.1	2.2 pp
EBIT	46.3	36.7	26.4 %
EBIT margin in %	13.3	10.9	2.4 pp
Profit after tax and minority interests	21.3	10.1	110.5 %
ROCE in %	8.7	7.0	1.7 pp

In the first three months of 2021, container throughput decreased significantly by 6.6 % year-on-year to 1,677 thousand TEU (previous year: 1,796 thousand TEU). This decrease was primarily recorded at the Hamburg container terminals and largely due to the loss of a Far East service in mid-May 2020, as well as to lower feeder volumes. By contrast, there was only a minor decrease in handling volumes at the international terminals.

In the reporting period, container transport grew strongly by 10.7 % to 418 thousand TEU (previous year: 378 thousand TEU). Rail transportation in particular continued its recovery started in the second half of 2020.

The HHLA Group’s revenue increased by 3.9 % to € 348.7 million in the reporting period (previous year: € 335.7 million). In addition to higher container transport volumes, this increase was largely due to temporary spikes in storage fees, as well as to the acquisition of shares and associated first-time consolidation of two new companies.

Other operating income totalled € 8.8 million (previous year: € 8.3 million).

Operating expenses rose by 1.3 % to € 312.9 million (previous year: € 309.0 million). This increase was primarily attributable to the first-time consolidation of the two new companies. There was also a minor increase in depreciation and amortisation.

There was a strong increase in the operating result (EBIT) of 26.4 % to € 46.3 million during the reporting period (previous year: € 36.7 million). The increase was mainly driven by high storage fees and container transport volumes. The EBIT margin amounted to 13.3 % (previous year: 10.9 %). In the Port Logistics subgroup, EBIT rose by 33.4 % to € 43.3 million (previous year: € 32.5 million). Due in part to pandemic-related revenue shortfalls, EBIT in the Real Estate subgroup declined by 28.4 % to € 2.9 million (previous year: € 4.1 million).

Net expenses from the financial result fell by € 4.2 million or 37.9 % to € 6.8 million (previous year: € 10.9 million).

There was a strong year-on-year increase in profit after tax and minority interests to € 21.3 million (previous year: € 10.1 million). Earnings per share amounted to € 0.29 (previous year: € 0.14). The listed Port Logistics subgroup achieved earnings per share of € 0.27 (previous year: € 0.11). Earnings per share of the non-listed Real Estate subgroup were down on the prior-year figure at € 0.63 (previous year: € 0.91). Return on capital employed (ROCE) amounted to 8.7 % (previous year: 7.0 %).