Significant events and transactions
On 5 January 2026, Port of Hamburg Beteiligungsgesellschaft SE (PoH) issued a statement that it now holds more than 95 % of the shares in HHLA and that it seeks to transfer the remaining shares held by HHLA’s minority shareholders to PoH against payment of an appropriate cash settlement (so-called squeeze-out acc. to Section 327a AktG). Following the conclusion of the procedure to determine appropriate cash compensation, PoH submitted a detailed transfer request to the company by letter dated 21 April 2026 and in this letter set the cash settlement at € 21.16 per class A share and € 40.31 per class S share. At the Annual General Meeting of HHLA AG on 11 June 2026, a resolution was adopted to transfer the shares held by the minority shareholders of the majority shareholder PoH against payment of an appropriate cash settlement as per Section 327a et seqq. AktG. This resolution has been contested in two legal actions brought before the Hamburg Regional Court. The squeeze-out becomes effective upon its entry into the commercial register. This will only occur once the legal challenges are either dismissed or withdrawn, or after successful completion of a so-called release procedure pursuant to Section 327e (2) AktG in conjunction with Section 319 (6) AktG. HHLA AG initiated such a release procedure on 21 August 2026. The procedure is currently under way.
On 28 April 2026, the Executive Board of HHLA AG resolved to discontinue the business operations of its subsidiary omoqo GmbH, Hamburg, as of 30 September 2026. The special items affecting profit or loss arising from this resolution and the resulting measures are set out in the description of developments in the Logistics segment.
In view of the Executive Board’s firm intention to dispose of the company’s holding in its subsidiary HHLA Sky GmbH, the relevant non-current assets and directly associated liabilities are disclosed within current assets as of 30 September 2026 as non-current assets held for sale. This was also the case in the Half-Year Financial Report for 2026. The transaction was completed at the end of October 2026. The assets and liabilities were each measured at the lower of their carrying amount and fair value less selling costs. Impairment losses of € 12.0 million on the assets were recognised in profit or loss, within amortisation and depreciation.
On 20 July 2026, HHLA’s Executive Board adjusted its full-year forecast for revenue and operating profit (EBIT), on the grounds that operational disruptions had been more severe than anticipated and this had resulted in weaker-than-expected growth in throughput and transport volumes. This was announced in an ad hoc disclosure.
A further adjustment to expected operating profit (EBIT) was made on 22 October 2026. It was triggered by lower-than-expected growth in container throughput due to the start-up phase for the ongoing automation of the Hamburg container terminals, strike-related disruptions and a non-cash impairment charge of approximately € 12 million in the Logistics segment. The latter resulted from a review of the portfolio of equity investments in start-ups and spin-offs, following the strategic decision to focus on the company’s core business. Further information on the current outlook can be found in the Business Forecast.
There were no other significant events or transactions in HHLA’s operating environment or within the Group during the reporting period which had a significant impact on its results of operations, net assets and financial position.