STATE-CONTROLLED Hamburger Hafen und Logistik (HHLA), which runs three container terminals in Hamburg has posted a 10.9 per cent first half increase in pre-tax profit (EBIT) to EUR82 million (US$91.3 million), drawn on revenues of EUR573 million, up seven per cent year on year.
Hamburger Hafen profit up 10.9pc to US$91 million as boxes fall 5.7pcSTATE-CONTROLLED Hamburger Hafen und Logistik (HHLA), which runs three container terminals in Hamburg has posted a 10.9 per cent first half increase in pre-tax profit (EBIT) to EUR82 million (US$91.3 million), drawn on revenues of EUR573 million, up seven per cent year on year.
Container handling volumes were 5.7 per cent down year on year to 3.2 million TEU in the first half of 2016, said the company press release.
By contrast, container transport of intermodal companies enjoyed growth, increasing 6.2 per cent to 694,000 TEU.
In the first half of 2016, throughput at HHLA's container terminals was down by 5.7 per cent on the first six months of the previous year, at 3.2 million TEU.
While the Container Terminal Odessa handled 132,000 TEU - 5.9 per cent more containers year on year - container throughput at the Hamburg terminals fell 6.2 per cent to 3.1 million TEU.
This was largely due to persistently weak Asia traffic (Far East-northern Europe), which was down nine per cent on the first six months of 2015.
The reduction in revenue in the container segment was less pronounced, at 4.4 per cent, taking the figure to just under EUR337 million. The segment's operating result (EBIT) decreased in line with volumes, falling 5.9 per cent to EUR54 million.
HHLA's transport companies were able to further extend their position. They grew their transport volume by 6.2 per cent to 694,000 TEU in the highly competitive market for hinterland container traffic.
This development was largely driven by rail, which increased 8.6 per cent. As a result, revenue in the intermodal segment grew 5.5 per cent to almost EUR191 million. Meanwhile, the segment's operating profit outperformed the growth in volumes and revenue, up 25.5 per cent to almost EUR34 million.
HHLA continues to expect group revenue on a par with the previous year and, following the one-off restructuring expense, a consolidated operating profit in the range of EUR115 million to EUR145 million.