Business forecast

Despite the global challenges – such as a persistently weak German economy, military conflict in the Middle East with its impact on shipping routes, and the war in Ukraine – HHLA performed well in the first nine months of 2024. This was due in particular to the strong increase in transport volumes, as well as a strong revenue and earnings trend on the whole for the Port Logistics subgroup in the third quarter.

Against this backdrop, a slight year-on-year increase in container throughput is now expected for the Port Logistics subgroup in the 2024 financial year (previously: moderate increase), while a significant increase is still expected for container transport. A strong increase in revenue is now anticipated (previously: significant increase). This is mainly due to increased revenue from rail traffic. In view of the higher income level resulting from temporarily longer container dwell times at the Hamburg terminals, expectations for the operating result (EBIT) have also been raised and are now within a range of € 110 million to € 130 million (previously: € 70 million to € 100 million). Within this range, a strong year-on-year increase in segment EBIT is expected for both the Container and the Intermodal segments.

For the Real Estate subgroup, revenue and operating result (EBIT) are still expected to remain at the prior-year level.

In total, a significant increase in revenue is still forecast at Group level. Against the background of the effects described above, the operating result (EBIT) is now expected to be within a range of € 125 million to € 145 million (previously: € 85 million to € 115 million).

As a result of delays in the implementation of investment projects, primarily in the Real Estate subgroup and Intermodal segment as a result of exogenous factors, capital expenditure at Group level is now expected to be at the lower end of the range of € 325 million to € 375 million (previously: € 400 million to € 450 million). With anticipated investments of € 300 million to € 350 million (previously: € 360 million to € 410 million), the Port Logistics subgroup will account for the majority of this expenditure.

Hamburg, 4 November 2024

Hamburger Hafen und Logistik Aktiengesellschaft

The Executive Board

Angela Titzrath

Jens Hansen

Torben Seebold

Annette Walter