Hamburger Hafen und Logistik AG

Share Issue/Capital Change • Apr 27, 2012

News Details

Ad-hoc | 27 April 2012 09:07

Hamburger Hafen und Logistik AG: HHLA and Deutsche Bahn Restructure Their Intermodal Shareholdings

Hamburger Hafen und Logistik AG / Key word(s): Strategic Company Decision

27.04.2012 09:07

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Hamburg, 27 April 2012

HHLA and Deutsche Bahn Restructure Their Intermodal Shareholdings

Hamburger Hafen und Logistik AG (HHLA) and Deutsche Bahn (DB) are
rearranging the holdings in their companies which provide railbound
container transport services. HHLA is taking over DB's shareholding in the
intermodal operators Polzug (33.3 percent) and Metrans (35 percent). In
return, the existing 50 percent stake of HHLA in TFG Transfracht will be
transferred to DB. Once the transactions have been completed, HHLA will
hold 86.5 percent of Metrans and including a capital increase 74.5 percent
of Polzug Intermodal, while TFG Transfracht will be wholly owned by DB
Mobility Logistics AG. The transaction prices will not be disclosed as
agreed by both parties. Today, the Supervisory Board of HHLA authorised the
transactions. At DB, the decision is currently being taken by the relevant
bodies. The transactions are still subject to the approval of the
applicable antitrust authorities.

The unbundling will enable HHLA to align its intermodal companies even more
consequently with the needs of maritime logistics. In doing so, HHLA will
make greater use of own production resources as a means of optimising
operational processes for rail transport in the European hinterland. These
production resources primarily include modern inland terminals, rail
waggons and locomotives.

The operational relationship between TFG Transfracht and HHLA's container
terminals, i.e. the operation of rail transport services to and from the
Port of Hamburg, will not be affected by the restructuring of the
shareholdings. This also applies to purchases of services from Metrans and
Polzug by DB and its subsidiaries. HHLA and DB also plan to maintain their
constructive dialogue in order to strengthen the Port of Hamburg's
competitive position. In addition, HHLA aims to further intensify its
cooperation with Polish PKP Cargo, which remains a shareholder in Polzug
Intermodal. Consequently, this might lead to an increase of PKP Cargo in
the stake of Polzug Intermodal later on.

The unbundling of the subsidiaries will affect some key figures of HHLA's
Intermodal segment. Main effects are to be expected by the deconsolidation
of TFG Transfracht, leading to an initial decrease of the transport volume
as well as the revenue base. However, a positive impact of the
deconsolidation is to be seen on the segment's operating result (EBIT).
Perspectively, an improvement in operational profitability is also expected
thanks to a higher added value and the earnings strength of the companies
making use of their own production resources. The new distribution of
ownership will start to be reflected in HHLA's financial statements with
the first half of 2012.

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Language: English
Company: Hamburger Hafen und Logistik AG
Bei St. Annen 1
20457 Hamburg
Germany
Phone: +49 (0)40-3088-1
Fax: +49 (0)40-3088-3355
E-mail: info@hhla.de
Internet: www.hhla.de
ISIN: DE000A0S8488
WKN: A0S848
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Hamburg;
Freiverkehr in Berlin, Düsseldorf, Hannover, München,
Stuttgart

End of Announcement DGAP News-Service

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