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Freight News, Sea
HHLA continues its success, but uncertainties on the rise
[ December 4, 2019 // Karen Thuermer ]Hamburger Hafen und Logistik AG (HHLA) continued its positive performance in the first nine months of 2019. The company recorded another significant increase in revenue and saw strong growth in its operating result. It was again possible to improve profitability year-on-year in a challenging market environment.
Container throughput increased moderately due to the successful integration of the Estonian terminal operator HHLA TK Estonia, which was acquired last year, and improved slightly at the Hamburg terminals. A significant rise in container transport was achieved. Including a significant increase in revenue from the Logistics segment and a once again moderate increase in revenue from property management, this led to total revenue of € 1,044.6 million (+ 8.3%). The operating result (EBIT) improved strongly by € 19.3 million, or 12.4%, to € 175.4 million. The positive effects of the initial application of IFRS 16 in the EBIT amounted to approximately € 10.6 million.
“As encouraging as our business trend is this year, we must still keep a realistic view of the changing conditions in which we operate,” said Angela Titzrath, Chairwoman of HHLA’s Executive Board. “The challenges facing the entire transport and logistics industry remain significant. We are approaching these challenges with confidence and vigour and are continuing to work towards our aim and mission of making HHLA ready for the future. This means that we will strengthen our core business and tap into new, highly promising sectors.”
Tags: Hamburger Hafen und Logistik AG (HHLA)