Hamburger Hafen und Logistik AG

Earnings Release • May 12, 2017

News Details

Corporate | 12 May 2017 07:30

Hamburger Hafen und Logistik AG: Financial Year 2017 Starts Well for HHLA

DGAP-News: Hamburger Hafen und Logistik AG / Key word(s): Interim Report

12.05.2017 / 07:30

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

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Interim Statement January to March 2017

Financial Year 2017 Starts Well for HHLA

– Significant increase in container throughput in the first quarter

– Executive Board updates forecast for Container segment, anticipating Group EBIT in the upper half of a range between EUR 140 million and EUR 170 million

– Chairwoman of the Executive Board, Angela Titzrath: Successful ongoing negotiations with the shipping companies resulting in steady demand for our container terminals

The 2017 financial year has started well for Hamburger Hafen und Logistik AG (HHLA). At the end of the first quarter, the Group’s key performance indicators are mainly well above the previous year’s level. Revenue was up 7.1 % year-on-year at EUR 305.1 million and at EUR 45.2 million, the operating result (EBIT) was also above the prior-year figure of EUR 41.0 million. The profit after tax and minority interests increased by 34.4 % year-on-year to EUR 24.4 million. In particular, a significant increase in container throughput had a positive impact on the result.

Titzrath: Confident about the Future in Spite of Political Risks for Global Trade

“In view of the positive forecasts and consistently strong upswing in Germany in particular, we remain confident about our future development,” said Angela Titzrath, Chairwoman of HHLA’s Executive Board, explaining business development after the first quarter of 2017. “HHLA has solid foundations. This is due in part to the successful progress of negotiations held so far with shipping companies about their new schedules. We believe we have succeeded in securing steady demand for our container terminals from our customers.” The company remains nevertheless aware of risks that could quickly influence economic developments and have an impact on business, Ms Titzrath added. “On the other hand, we also see many opportunities in innovation and digitalisation,” said the Chairwoman of the Executive Board, who has been in charge since the beginning of the year, reiterating the company’s aspiration to be the engine of the digital change in the Port of Hamburg.

Container Throughput Benefits from Far East Volumes and Feeder Traffic

1.8 million standard containers (TEU) were handled in the first quarter – 10.3 % more than in the same period in 2016. The trend of increased volumes seen since the second half of 2016 therefore continued. This development at Hamburg’s container terminals was driven by a recovery in Far East volumes and significant growth in feeder traffic with the Baltic Sea ports. HHLA also achieved an increase in throughput of 5.4 % year-on-year at its Container Terminal Odessa in Ukraine.

Significant Increases also for Intermodal Companies

The Intermodal segment also recorded further encouraging volume growth. The container transports of HHLA’s Intermodal companies increased by 8.4 % year-on-year to 370 thousand TEU in the first quarter of 2017. Both rail and road transport contributed to this growth.

Forecast for 2017 Adapted

The Executive Board of HHLA has updated its forecast for the 2017 financial year, based on economic developments in Germany, the positive ongoing negotiations with the shipping company alliances and the hence improved predictability of volume developments for the remainder of the year. A Group operating result (EBIT) in the upper half of a range between EUR 140 million and EUR 170 million is now expected (previously: EUR 130 million to EUR 160 million), while the Port Logistics subgroup is now expected to generate a result in the upper half of a range between EUR 125 and EUR 155 million (previously: EUR 115 to EUR 145 million), both excluding possible one-off expenses of up to EUR 15 million.

Key Figures HHLA Group

in EUR million	1-3 | 2017	1-3 | 2016	Change
Revenue	305.1	284.8	7.1 %
EBITDA	75.1	70.4	6.6 %
EBIT	45.2	41.0	10.4 %
EBIT margin in %	14.8	14.4	0.4 pp
Profit after tax	31.5	26.0	21.3 %
Profit after tax and minority interests	24.4	18.1	34.4 %
Container throughput in thousand TEU	1,778	1,612	10.3 %
Container transport in thousand TEU	370	341	8.4 %
	31.03.2017	31.12.2016	Change
Equity ratio in %	32.7	31.5	1.2 pp
Employees	5,538	5,528	0.2 %

Key Figures Port Logistics Subgroup 1,2

in EUR million	1-3 | 2017	1-3 | 2016	Change
Revenue	297.4	277.1	7.3 %
EBITDA	70.4	65.4	7.6 %
EBIT	41.7	37.1	12.4 %
EBIT margin in %	14.0	13.4	0.6 pp
Profit after tax and minority interests	22.4	16.0	40.1 %
Earnings per share in EUR	0.32	0.23	40.1 %

1 Before consolidation between subgroups

2 Class A shares

Contact:

Heiko Hoffmann

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

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12.05.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.

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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
Indices:	SDAX
Listed:	Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Hanover, Munich, Stuttgart, Tradegate Exchange

End of News	DGAP News Service