- About us
- IBJ Awards
- Free Sample
- Contact us
HHLA resists effects of pandemic
(Posted on 12/11/20)
Despite the lasting impact of the coronavirus pandemic, Hamburger Hafen und Logistik AG (HHLA) recorded a positive operating result in the first nine months of 2020. However, due to a strong decline in business activities in the second quarter, this result is sharply below (- 38.9 %) the prior-year figure. Revenue also declined (- 8.1 %). Container throughput and container transport recorded strong and moderate declines, respectively. Although there were minor indications of a recovery in business in the third quarter fostered by, among other things, the renewed growth of the Chinese economy, HHLA will not achieve the strong result of the previous year in 2020.
Angela Titzrath, Chairwoman of HHLA’s Executive Board: “HHLA responded well to the situation created by the coronavirus pandemic. Our facilities are operating reliably and stably under the conditions provided by the authorities to protect public health. HHLA moves what Germany and Europe need. This is something that consumers and companies can rely on. Even if our key performance indicators have not developed as we had expected at the beginning of the year, the positive operating result is proof that our business model is resilient. HHLA can fulfil its financial obligations at all times. To continue strengthening our future viability, we are investing further in our core business areas and are looking for new profitable growth initiatives and digital solutions. We regularly review our cost structure in order to secure our financial fields of action. With our ambitious efficiency programme, we aim to drastically reduce costs over the next five years in order to maintain the competitiveness of our services.”
The listed Port Logistics subgroup recorded an 8.1 % decline in revenue to € 937.4 million in the first nine months. The operating result (EBIT) decreased significantly by 40.7 % to € 96.6 million. The EBIT margin decreased by 5.6 percentage points to 10.3 %.
Revenue decreased year-on-year by 9.4 % to € 548.4 million in the first three quarters of 2020. This was primarily due to the decreases in volume caused by the coronavirus pandemic. The operating result (EBIT) decreased by € 43.9 million or 39.0 % year-on-year to € 68.7 million due to falling volumes. The EBIT margin decreased by 6.1 percentage points to 12.5 %.
Port Milwaukee and The DeLong Company, Inc. celebrated the groundbreaking on a nearly $35-million agricultural... Read more
The Port of Gdynia has ended the first nine months of 2021 with an increase of 12.7% in total cargo... Read more
AD Ports Group has announced its financial results for the first half of the year ended 30 June 2021... Read more
PD Ports is delighted to have granted a new long-term lease to Diffusion Alloys at Teesport Commerce... Read more
HPC Hamburg Port Consulting, the leading logistics consultancy for ports, maritime and inland terminals... Read more
AD Ports Group, a leading facilitator of trade and logistics, has signed a new partnership agreement... Read more
The enormous grey and white building at the Europoort terminal in the Rotterdam Beneluxhaven is the... Read more
The Vancouver Fraser Port Authority has released the 2021 mid-year statistics for goods moving through... Read more
AD Ports Group, the leading global driver of trade and logistics, has signed a Memorandum of Understanding... Read more
PD Ports, the Statutory Harbour Authority for the River Tees, has successfully rolled out a Port Community... Read more