Changes in business forecast

The development of HHLA’s earnings as of 30 September 2022 was generally in line with expectations. However, as segment performance in the third quarter was uneven, the forecast for the 2022 financial year has been adjusted compared to the expectations stated in the half-year report 2022. 

For the Port Logistics subgroup, a significant year-on-year decrease in container throughput is expected (previously: on a par with the previous year), as well as a slight increase in container transport (previously: moderate increase). This is mainly due to ongoing disruptions to the supply chain.

In view of the positive trend for 2022 so far, a significant increase in revenue is now expected for the year as a whole (previously: moderate increase). Owing to inflation, a strong increase in revenue (previously: moderate increase) is now expected for the Intermodal segment, while a moderate rise is still expected for the Container segment due to the delayed levelling off of average revenue.

The operating result (EBIT) for the Port Logistics subgroup is still expected to be within the range of € 160 million to € 195 million. As a result of the temporary increase in average revenue caused by the spike in storage fees, the Container segment can expect to see a result on a par with last year (previously: strong decrease). By contrast, a significant decrease is expected for the Intermodal segment (previously: on a par with last year) due to the ongoing supply chain disruptions and their impact on operations.

For the Real Estate subgroup, the significantly improved revenue performance is likely to result in a strong year-on-year increase in revenue and EBIT (previously: significant increase in both revenue and EBIT).

Overall, HHLA now expects a significant increase in revenue at Group level (previously: moderate increase), while an operating result (EBIT) in the range of € 175 million to € 210 million is still anticipated. As additions to non-current assets planned for the 2022 financial year are now being postponed to the following year, capital expenditure has been restated accordingly. At Group level, HHLA now expects capital expenditure to be in the range of € 210 million to € 260 million (previously: € 300 million to € 350 million). The Port Logistics subgroup will account for around € 180 million to € 230 million of this amount (previously: € 270 million to € 320 million).