Hamburger Hafen und Logistik AG

Earnings Release • Nov 14, 2008

News Details

Corporate | 14 November 2008 08:00

Hamburger Hafen und Logistik AG: HHLA maintains successful course

Hamburger Hafen und Logistik AG / Interim Report

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With a 31.6 percent leap in earnings before interest and taxes (EBIT) to
288.6 million euros and 15.4 percent increase in revenues to 1,005.3
million euros, in the first nine months of the year Hamburger Hafen und
Logistik AG (HHLA) continued its excellent progress.

'Despite an economic environment marked by growing difficulties, in
business so far during the year 2008 HHLA has fully met its demanding
targets on revenues and earnings. Today there is no change in our
expectation that over the whole year we will achieve double-digit earnings
growth and EBIT within our target range of between 320 and 350 million
euros,' stated Klaus-Dieter Peters, HHLA CEO, on the publication of HHLA’s
Interim Report for January to September on 14 November.

Overview of Group key figures (January to September 2008)
- Revenues were up by 15.4 percent at 1.005,3 million euros.
- Earnings before interest, taxes, depreciation and amortization (EBITDA)
improved by 26.5 percent to 360.8 million euros.
- Earnings before interest and taxes (EBIT) rose by 31.6 percent to 288.6
million euros.
- Earnings after taxes at 184.9 million euros were up no less than 67.6
percent on the corresponding period of the previous year, one of the
reasons being the reform of German Corporation Tax.
- As of 30.9.2008, equity ratio was 41.9 %.
- Throughput in the Container Segment increased by 4.9 percent to 5.652
million standard containers.
- At 14.7 percent, growth in volume transported by the Intermodal Segment
continued in double digits to 1.42 million standard containers.

Revenues of the stock exchange listed Port Logistics sub-group, HHLA’s core
business, rose in the first nine months of 2008 by 15.8 percent to 984.8
million euros. The sub-group’s EBIT continued to grow disproportionately,
by 31.7 percent to 279.3 million euros. The Port Logistics sub-group thus
generated 97.8 percent of Group earnings and 96.8 percent of Group EBIT.

Among the factors responsible for this continuing positive trend are:
- HHLA succeeded in countering the slowdown in momentum behind container
handling volume, by further increasing the depth of services provided.
- The growth rate in transport volume of HHLA’s intermodal companies
remained in double digits.
- Boosts in productivity and efficiency led to a reduction in the
proportion of total expenditure accounted for by material and staff.
- Thanks to the flexibility and scalability of its investment programme,
HHLA can adapt the pace and scheduling of capacity expansion to the actual
market trend.

During the first three quarters of 2008 HHLA also systematically pursued
its modernization and growth programme. Among the main features in the
third quarter were the delivery of five state-of-the-art container gantry
cranes for the expansion of HHLA Container Terminal Burchardkai, HHLA’s
intermodal affiliate Transfracht’s stake in the new inland terminal in
Bamberg, and continuation of the expansion of the O’Swaldkai
Multi-Functional Terminal for fruit and vehicle logistics.

In view of the depth of the present crisis, the further prospects for the
business year 2009 are beset by considerable uncertainties. Nevertheless,
in view of its strategic focus on technological leadership and vertical
integration along the transport chain, as well as its positioning as a
logistics provider for the emerging economies in Asia as well as Central
and Eastern Europe, HHLA reckons with favourable prospects for business
once again in the medium to long term. 'With its solid balance sheet
structure, its integrated business model and its scaleable expansion
programme, HHLA is well equipped to stand its ground even difficult periods
for the economy,' said Klaus-Dieter Peters.

HHLA Group key figures

                      1-9 I 2008     1-9 I 2007       Change

Revenues € million 1,005.3 871.2 15.4 %
EBITDA € million 360.8 285.2 26.5 %
EBIT € million 288.6 219.2 31.6 %
Earnings after tax € million 184.9 110.3 67.6 %
Earnings after tax and minority
interests € million 137.8 80.6 70.9 %
Equity ratio % 41.9 % 30.1 % 11.8 pp
Employees as at 30.09 4,902 4,480 9.4 %

Stock exchange listed Port Logistics sub-group

                       1-9 I 2008     1-9 I 2007       Change

Revenues € million 984.8 850.6 15.8 %
EBITDA € million 348.9 275.6 26.6 %
EBIT € million 279.3 212.2 31.7 %
Earnings after tax € million 181.2 107.9 67.9 %
Earnings after tax and minority
interests € million 134.0 78.2 71.4 %
Container throughput TEU ,000 5,652 5,387 4.9 %
Container transport TEU ,000 1,420 1,238 14.7 %

About HHLA
Hamburger Hafen und Logistik AG is one of the leading port logistics
companies in the North Range of ports in Europe. With its Container,
Intermodal and Logistics segments, HHLA is positioned vertically along the
transport chain. Efficient container terminals, high-performance transport
systems and a full range of logistics services form a complete network
between the overseas port and the hinterland in Europe.

Contact:
Matthias Funk
Investor Relations

HAMBURGER HAFEN UND LOGISTIK AG
Bei St. Annen 1, D-20457 Hamburg, www.hhla.de

Tel: +49-40-3088-3397
Fax: +49-40-3088-3339
E-mail: investor-relations@hhla.de

14.11.2008 Financial News transmitted by DGAP

Language: English
Issuer: Hamburger Hafen und Logistik AG
Bei St. Annen 1
20457 Hamburg
Deutschland
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, Hamburg; Freiverkehr in
Berlin, Hannover, Stuttgart, München, Düsseldorf

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