Business forecast

There were no new events of material importance in the reporting period. The disclosures made in the 2022 combined management report regarding the expected course of business in 2023 therefore continue to apply.

The economic development of HHLA in the first quarter of 2023 was largely in line with expectations. However, as segment performance in the first three months was uneven, the forecast for the current financial year has been adjusted.

In view of the strong decline in throughput volumes caused by adverse macroeconomic conditions in the first three months of the year, only a slight year-on-year increase in container throughput is now predicted for the Port Logistics subgroup (previously: moderate increase). The situation is expected to improve in the second quarter of 2023 with a corresponding upturn in volumes, especially in the Far East shipping region. A moderate year-on-year increase is still forecast for container transport.

A slight increase in revenue is now expected for the Port Logistics subgroup (previously: on a par with the previous year). This forecast is based on a strong increase (previously: significant increase) in revenue in the Intermodal segment. By contrast, a moderate decrease (previously: slight decrease) is anticipated for the Container segment based on expected volumes.

The operating result (EBIT) for the Port Logistics subgroup is still expected to be in the range of € 145 million to € 175 million. This is based on the assumption that the adjusted forecast for the development of volumes can be partly offset by a package of measures implemented to stabilise earnings. Within this range, a strong decrease in segment EBIT continues to be expected in the Container segment and a moderate increase in the Intermodal segment.

For the Real Estate subgroup, revenue is still expected to remain at the prior-year level with a significant decline in the operating result (EBIT).

Overall, a slight increase in revenue is forecast at Group level (previously: on a par with the previous year). An operating result in the range of € 160 million to € 190 million continues to be regarded as possible.

Capital expenditure at Group level is still expected to be in the range of € 250 million to € 300 million. With anticipated investments of € 220 million to € 270 million, the Port Logistics subgroup will account for the majority of this expenditure. In the Container segment, investments will focus on the efficient use of existing terminal space in the Port of Hamburg and the expansion of foreign terminals, and in the Intermodal segment on the expansion of the Group's own transport and handling capacities.

Hamburg, 4 May 2023

Hamburger Hafen und Logistik Aktiengesellschaft

The Executive Board

Angela Titzrath

Tanja Dreilich

Jens Hansen

Torben Seebold