Hamburger Hafen und Logistik AG

Earnings Release • May 12, 2016

News Details

Corporate | 12 May 2016 07:30

Hamburger Hafen und Logistik AG: Economic Development Meets Expectations

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

2016-05-12 / 07:30

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

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HHLA Interim Statement January to March 2016

Economic Development Meets Expectations

The 2016 financial year started as expected for Hamburger Hafen und Logistik AG (HHLA). While container transport increased by just over 2 percent to 341 thousand standard containers (TEU), container throughput fell by almost 8 percent to 1.6 million TEU. At just under EUR 285 million, revenue was slightly over 4 % down year-on-year. The operating result (EBIT) declined by almost 5 % to around EUR 40 million. In contrast, profit after tax and minority interests climbed by nearly 45 % to just over EUR 18 million.

– Container throughput down by 7.7 % against previous year at 1.6 million TEU

– Further increase of 2.4 % in container transport to 341 thousand TEU

– Revenue down by 4.1 % to EUR 284.8 million

– At EUR 41.0 million, operating result (EBIT) declines by 4.7 %

– Profit after tax and minority interests climbs 44.6 % to EUR 18.1 million

Klaus-Dieter Peters , Chairman of HHLA’s Executive Board, on developments in the first quarter: “Given the ongoing challenges in the operating environment, the performance of Hamburger Hafen und Logistik AG in the first quarter was in line with our expectations. The throughput volumes at our container terminals did decline in comparison with the positive first quarter of 2015, but they increased against the fourth quarter of 2015. As a result, we believe that volumes in the Container segment have bottomed out and anticipate stable development for the rest of the year. Our intermodal companies once again recorded a pleasing development in container transport. Due to another increase in rail traffic, they climbed by 2.4 % against the same period of the previous year, which already saw excellent results. The Intermodal segment by now contributes approximately 40 % to the consolidated operating result. This confirms our decision to expand the Intermodal segment to become the Group’s second strong pillar.”

Container Throughput Bottoms Out

At 1.6 million TEU, HHLA’s container terminals handled 7.7 % fewer containers than in the same period of the previous year, but 5.1 % more than in the fourth quarter of 2015. This should lead to the decline in volumes bottoming out. While the Container Terminal Odessa already recorded growth of 4.8 % to 67 thousand TEU, throughput at the three terminals in Hamburg declined by 8.2 % to 1.5 million TEU. Revenue in the Container segment declined by 6.0 % to EUR 169.2 million. The operating result (EBIT) for the segment saw a decrease of 14.2 % to EUR 27.9 million as a result of the underutilisation of the Hamburg facilities.

Intermodal Companies Record Growth in Volume, Revenue and Earnings

The growth seen by the HHLA transport companies was driven by the increase in rail transport, which went up by 4.8 % to 264 thousand TEU. With growth of 1.0 % to EUR 92.6 million, revenue grew less dynamically than transport volumes. The operating result (EBIT) increased to EUR 16.3 million (previous year: EUR 12.7 million), whereby the extended use of the company’s own locomotives and waggons has made a significantly positive mark on the result in the form of productivity gains and an improved cost structure. As the company’s own locomotives were still being procured in the same period last year, these effects were not yet fully recognisable in the first quarter of 2015.

Forecast for Revenue and Earnings Confirmed

In light of the Group’s performance in the first quarter, HHLA confirms its forecast and anticipates revenue at Group level on a par with the previous year and, following one-off consolidation expenses, a consolidated operating result (EBIT) in the range of EUR 115 million and EUR 145 million.

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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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; Terminbörse EUREX

End of News	DGAP News Service