HHLA Exceeds Earnings Targets in 2018
Despite difficult market conditions in the second half of 2018, German terminal operator Hamburger Hafen und Logistik AG (HHLA) wrapped up the year with a rise in its earnings.
According to preliminary unaudited figures, HHLA increased its group revenue by 3 percent to EUR 1.29 billion (USD 1.5 billion) in the 2018 financial year from EUR 1.25 billion seen last year.
In addition, the group’s operating result (EBIT) stood at EUR 204 million, against EUR 173 million reported in 2017, representing an increase of 18 percent.
“HHLA has performed very successfully over the past financial year, despite the deterioration of the market environment in the second half,” Angela Titzrath, Chairwoman of the Executive Board of HHLA, commented.
The listed port logistics subgroup generated revenue of EUR 1.26 billion in 2018, compared to EUR 1.22 billion posted a year earlier. What is more, EBIT rose to EUR 188 million in 2018 from EUR 157 million recorded in 2017.
In total, 7.3 million standard containers (TEU) were handled at HHLA’s container terminals in the 2018 financial year. Compared to 7.2 million TEU in the previous year, this equates to an increase of 1.9 percent.
Container throughput at the three container terminals in Hamburg remained at the high level achieved in the previous year, while throughput at the international HHLA container terminals in Odessa (Ukraine) and Tallinn (Estonia) increased.
Estonia’s largest terminal operator, TK Estonia, has been successfully integrated into the HHLA Group following its acquisition last year.
Last year, the terminal operator said it aimed to be a gateway to the future, enabling containerships, trains but also data flow through the company’s terminals.
As part of its strategic approach, HHLA plans to benefit from innovative developments being introduced at its terminals. One of such developments is the recently established joint venture focused on developing a system that would enable transporting containers at high speed through a tube to and from the Port of Hamburg.
“The challenging targets we set for ourselves one year ago have been achieved and partially exceeded. These results confirm our strategy of strengthening the creative power and future viability of HHLA. We will continue to follow this path going forward. HHLA aims to be the gateway to the future,” Titzrath added.