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 %.
Latest News
New customs declaration process launched in Belgium
(Posted on 07/05/25)Inbound Release Platform (IRP) has been operating since 1 April 2025. This innovative solution, which... Read more
Kale to develop Oman’s national port communication system
(Posted on 07/05/25)Kale Logistics Solutions (Kale), along with its local partner Novel Muscat, has been awarded the contract... Read more
Estonian-German ports strengthen bilateral relations
(Posted on 01/05/25)Participants at the first German-Estonian Port Days, have demonstrated the impressive way in which bilateral... Read more
Teesport Offshore Gateway - a multi-million pound investment in the River Tees
(Posted on 29/04/25)One of the UK’s major port groups, PD Ports has announced its ambition to develop one of the UK... Read more
Port of Amsterdam achieves CO? reduction target
(Posted on 28/04/25)Port of Amsterdam has achieved its CO? reduction target. The Port of Amsterdam aimed to reduce its corporate... Read more
NSBT celebrates launch of new third berth in Freetown
(Posted on 22/04/25)Nectar Sierra Leone Bulk Terminal (NSBT) is celebrating the operational launch of a new third berth... Read more
Greenhouse gas emissions in port of Rotterdam down by 8%
(Posted on 17/04/25)Greenhouse gas emissions at companies in the port decreased by 1.7 Mton (8%) in 2024 compared to 2023... Read more
Raw materials delivered to British Steel through Immingham
(Posted on 15/04/25)Following the UK government’s passing of an emergency law to take control of British Steel, vital... Read more
Rotterdam takes important step in making shipping more sustainable
(Posted on 15/04/25)Trammo, OCI and James Fisher Fendercare have successfully conducted an ammonia bunkering pilot between... Read more
Bulgarian port’s first order for new Konecranes Gottwald MHCs
(Posted on 03/04/25)BMF Port Burgas AD (BMF), one of Bulgaria’s largest port operators, has ordered two Generation... Read more
