Hamburger Hafen und Logistik AG

Earnings Release • Jul 27, 2023

News Details

Ad-hoc | 27 July 2023 11:15

Hamburger Hafen und Logistik AG: HHLA lowers forecast for the 2023 financial year

Hamburger Hafen und Logistik AG / Key word(s): Change in Forecast

Hamburger Hafen und Logistik AG: HHLA lowers forecast for the 2023 financial year

27-Jul-2023 / 11:15 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

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Hamburg, 27 July 2023

Hamburger Hafen und Logistik Aktiengesellschaft

Publication of insider information in accordance with Article 17 of the Market Abuse Regulation

HHLA lowers forecast for the 2023 financial year

Based on preliminary figures for the first six months, Hamburger Hafen und Logistik AG (HHLA) is adjusting its forecast for the current financial year. The ongoing war in Ukraine, geopolitical tensions, inflation and rising interest rates are weighing on consumer and industrial demand and continuing to slow down the global economic recovery after the pandemic. Several economic research institutes have recently revised their forecasts for the German economy downwards accordingly, most recently also the International Monetary Fund. HHLA’s business development reflects this sentiment. The significant drop in volumes due to the economic situation that was evident in the first quarter of 2023 has continued in the second quarter of the year.

Against the background of this development, a significant decline in container throughput is now expected in the Port Logistics subgroup compared with the previous year (previous year: slight increase). Container transport is expected to be at the level of 2022 (previously: moderate increase year-on-year). A significant decrease in revenue is now expected for the Port Logistics subgroup (previously: slight increase). This development is the result of a volume-related strong decrease (previously: moderate decrease) of revenue in the Container segment, which cannot be compensated for by a significant increase in revenue (previously: strong increase) in the Intermodal segment. The expected operating result (EBIT) has been restated accordingly and now ranges from € 100 to 120 million (previously: in the range of € 145 to 175 million). Within this range, a strong decrease continues to be expected in the Container segment. A slight decrease (previously: moderate increase) in segment EBIT is expected in the Intermodal segment compared with the previous year.

For the Real Estate subgroup, revenue is still expected to remain at the prior-year level with a significant decline in the operating result (EBIT).

Overall, a significant decrease in revenue is forecast at Group level (previously: moderate increase). Against the background of the changed expectations, the operating result (EBIT) will be within a range between € 115 and 135 million (previously: within a range between € 160 and 190 million).

In view of the aforementioned volatile environment, the outlook continues to be subject to considerable uncertainties.

HHLA will publish complete figures for January to June 2023 on Tuesday, 15 August 2023, at 7.30 a.m.

EBIT is defined as earnings before interest and taxes. For more detailed information, please click here .

Contact:

Julia Hartmann

Head of Investor Relations

HAMBURGER HAFEN UND LOGISTIK AG

Bei St. Annen 1, D-20457 Hamburg, www.hhla.de

Tel: +49-40-3088-3397

Fax: +49-40-3088-55-3397

E-mail: investor-relations@hhla.de

End of Inside Information

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Language:	English
Company:	Hamburger Hafen und Logistik AG
	Bei St. Annen 1
	20457 Hamburg
	Germany
Phone:	+49 (0)40-3088-0
Fax:	+49 (0)40-3088-3355
E-mail:	info@hhla.de
Internet:	www.hhla.de
ISIN:	DE000A0S8488
WKN:	A0S848
Listed:	Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1689817

End of Announcement	EQS News Service