Business forecast
Expected Group performance in 2025
Based on the business performance to date and current estimates for the fourth quarter, HHLA’s Executive Board adjusted its full-year forecast for the current financial year in an ad hoc disclosure issued on 27 October 2025. As a result of significantly increased global economic uncertainties, particularly due to US trade policy, HHLA’s business environment has recently proven to be less robust than originally assumed. This is particularly evident in the ongoing disruptions to supply chains. In combination with extensive modernisation measures to automate the Hamburg port facilities, volume and earnings growth for the 2025 financial year is now expected to be less strong.
Against this backdrop, the Port Logistics subgroup now expects a significant year-on-year increase in container throughput (previously: strong increase). For the reasons mentioned above, the forecast for the operating result (EBIT) has also been adjusted and is now in the range of € 145 to € 160 million (previously: € 180 to € 200 million).
At Group level, the expectation for the operating result (EBIT) has been adjusted accordingly and is now in the range of € 160 to € 175 million (previously: € 195 to € 215 million).
All other disclosures made in the 2024 Annual Report regarding the expected course of business in 2025 continue to apply.
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Forecast |
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Forecast |
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Forecast |
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Container throughput |
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strong increase |
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strong increase |
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significant increase |
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Container transport |
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strong increase |
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strong increase |
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strong increase |
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Group |
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Revenue |
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strong increase |
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strong increase |
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strong increase |
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EBIT |
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in a range from |
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in a range from |
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in a range from |
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Investments |
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in a range from |
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in a range from |
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in a range from |
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Port Logistics subgroup |
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Revenue |
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strong increase |
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strong increase |
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strong increase |
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EBIT |
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in a range from |
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in a range from |
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in a range from |
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Investments |
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in a range from |
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in a range from |
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in a range from |
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Real Estate subgroup |
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Revenue |
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slight increase |
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slight increase |
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slight increase |
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EBIT |
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strong decrease |
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strong decrease |
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strong decrease |
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Medium-term Group performance
The current geopolitical and economic situation is being shaped by numerous external factors whose development cannot be reliably predicted, especially over a multi-year period. The Executive Board has therefore decided to suspend its multi-year forecast with its scheduled EBIT target of € 400 million and total capital expenditure of approximately € 1.6 billion until further notice (previously: not until 2027). HHLA continuously monitors all material factors and flexibly adjusts its estimates for the management of operational and investment measures.
Hamburg, 3 November 2025
Hamburger Hafen und Logistik Aktiengesellschaft
The Executive Board
Jeroen Eijsink
Jens Hansen
Torben Seebold
Annette Walter