Changes in business forecast

With the publication of the half-year results, expectations for container transport and revenue for the Port Logistics subgroup and the Group were already raised. Based on preliminary figures for the company’s performance during the first nine months of the year, the Executive Board recently raised its forecast for revenue and EBIT in the current financial year in an ad-hoc announcement on 20 October 2021. Extraordinary, non-recurring earnings effects in the Port Logistics subgroup were a significant factor in adjusting the annual forecast. In contrast to original assumptions, the ongoing disruptions in global supply chains and the associated massive ship delays also led to a temporary spike in storage fees as a result of longer container dwell times at HHLA’s terminals in Hamburg. In addition, a higher subsidy for route prices of € 11 million granted retroactively made a positive contribution to the Port Logistics subgroup’s earnings. Earnings position

For the Port Logistics subgroup, a moderate increase in container throughput is expected again, as is a significant increase in container transport compared to the previous year. HHLA now expects revenue for the 2021 financial year to come to around € 1,410 million (previously: significant increase compared to the previous year). Against the background of the aforementioned extraordinary earnings effects, the forecast for the operating result (EBIT) of the Port Logistics subgroup is being raised and will come to around € 190 million (previously: range of € 140 million to € 165 million).

The revenue and operating result (EBIT) of the Real Estate subgroup are expected to be on a par with the previous year’s level (previously: slight increase in revenue).

At the Group level, a strong increase in revenue compared to the previous year is expected. Revenue is expected to come to around € 1,450 million. The forecast for the Group operating result (EBIT) was raised in response to the positive developments in the Port Logistics subgroup. It is now at around € 205 million (previously: range of € 153 million to € 178 million).

As a result of the ongoing disruptions to global supply chains, investments in assets for the Container and Intermodal segments for the 2021 financial year will be delayed until 2022. Investments of € 200 million are now expected at the Group level for 2021 (previously: range of € 250 to € 280 million). Around € 175 million of this is attributed to the Port Logistics subgroup (previously: € 220 to € 250 million).

Hamburg, 1 November 2021

Hamburger Hafen und Logistik Aktiengesellschaft
The Executive Board

Angela Titzrath – Chairwoman of the Executive Board (signature)

Angela Titzrath

Jens Hansen (signature)

Jens Hansen

Dr. Roland Lappin (signature)

Dr. Roland Lappin

Torben Seebold (signature)

Torben Seebold