Intermodal segment

In the highly competitive market for container traffic in the hinterland of major seaports, HHLA’s transport companies recorded strong volume growth in the first nine months of 2021. Container transport increased by a total of 11.1 % to 1,254 thousand TEU (previous year: 1,129 thousand TEU). Rail continued to benefit more than road from the recovery in freight volumes that began in the second half of 2020. Rail transport increased by an impressive 14.0 % year-on-year to 1,021 thousand TEU (previous year: 895 thousand TEU). Growth in the third quarter was slower, however, due to the strong recovery in volume already recorded in the same quarter last year. The growth in volume during the first nine months was widely diversified. In a persistently challenging market environment, road transport volumes of 233 thousand TEU were on a par with the previous year (previous year: 234 thousand TEU).

At € 383.2 million, revenue rose by 9.9 % year-on-year (previous year: € 348.7 million). However, this increase failed to match the development in transport volumes: although the advantageous rail share of HHLA’s total intermodal transportation rose from 79.3 % to 81.4 %, average revenue per TEU decreased as a result of changes to the structure of freight flows.

In light of the positive trend in volume and revenue, the operating result (EBIT) increased by 27.5 % to € 79.5 million in the reporting period (previous year: € 62.4 million). This figure includes a higher subsidy for route prices of € 11 million granted retroactively.