HHLA's box volume up 1.5pc to 6.7m TEU in 2016
GERMAN logistics and transportation company Hamburger Hafen und Logistik AG (HHLA) has reported a 3.1 per cent increase in revenue in 2016 to EUR1.8 billion (US$1.9 billion) compared to 2015.
The group's container throughput was up 1.5 per cent year on year to 6.7 million TEU, boosted by a 10 per cent volume growth to in its terminal in Odessa, Ukraine, and a 1.1 per cent increase in volumes at its terminals in Hamburg, Germany.
According to the company, the volume increase in Hamburg is primarily attributable to feeder traffic with the Baltic Sea ports.
The group's container transport volumes went up by 6.8 per cent year on year to 1.4 million TEU driven by its rail companies.
In 2016, the company's operating result (EBIT) was up 4.8 per cent over the previous year to EUR164 million, with the EBIT of the port logistics subgroup rising by 4.7 per cent to EUR147.6 million.
This year, the group expects container throughput to remain at about last year's level, while it predicts continuing growth in its container transport segment. According to the company, this should lead to group's revenue remaining at the 2016's level.
Angela Titzrath, chairwoman of the Executive Board, said: "The development of the global economy and global trade was weak in the past financial year. Growth rates were down on the prior-year figures. There was a lack of momentum in both China and Russia - two critical economies for the Port of Hamburg.
"In this environment and given the weak growth rates for container throughput and expanded capacities, competition between the European ports intensified further. It was also an eventful year for our shipping customers."
Capital expenditure (capex) in the past financial year totalled EUR138.3 million, compared to EUR145.5 million the previous year. Last year, capital expenditure focused on extending the Hamburg container terminals and expanding intermodal transport and handling capacities.
Investments worth a total of 81.3m (US$86.6m) were made in the container segment, compared to EUR61 million in 2015, reported Container Management.
A company statement noted: "Investments in the container segment focus on enhancing the productivity of existing terminal areas by using state-of-the-art handling technology and developing berth places for the trend in ship sizes.
"The primary objective in the intermodal segment is to increase the depth of value added to further improve the performance and range of its hinterland connections."