DESPITE facing global challenges such as the ongoing weakness in the German economy, the military conflict in the Middle East, and war in Ukraine. Hamburger Hafen und Logistik AG (HHLA) reported positive financial results for the 2024 financial year.
Group revenue increased by 10.5 per cent to EUR1.59 billion (US$1.72 billion), reports St Petersburg's PortNews.The operating result (EBIT) rose by 22.7 per cent to EUR134.3 million, which was within the expected range of EUR125 million to EUR145 million (previous year: EUR109.4 million).
Consolidated net income after minority interests reached EUR32.5 million, compared to EUR20.0 million in 2023.
Said HHLA chief executive Angela Titzrath: 'In uncertain times, it is crucial to strategically remain on track. That's why we consistently worked on implementing our goals over the past year - focusing on two core areas: we further strengthened our European network, particularly by increasing the number of rail connections.
'The second focus was on the further modernization and automation of our container terminals in Hamburg. Based on the growth of revenue and earnings, we are now able to look forward with optimism to 2025.'
In the Port Logistics subgroup, revenue rose by 10.8 per cent to EUR1,561.7 million, while the operating result (EBIT) increased by 26.8 per cent to EUR117.8 million.
Container handling at HHLA's seaport terminals increased by 0.9 per cent. Handling volumes for routes to and from the Far East and Middle East declined, while there was strong growth for North and South American shipping regions, particularly for traffic with the United States.
In the Intermodal segment, overall container transport increased by 11.6 per cent, with rail transport up by 13.2 per cent and road transport rising by 2.2 per cent. Revenue for the segment increased by 14.6 per cent to EUR711.3 million. EBIT for the Intermodal segment grew by 14.8 per cent to EUR83.7 million.
For 2025, HHLA anticipates strong growth in both container throughput and transport volumes, expecting EBIT for the Port Logistics subgroup to be between EUR180 million and EUR220 million.
SeaNews Turkey
Group revenue increased by 10.5 per cent to EUR1.59 billion (US$1.72 billion), reports St Petersburg's PortNews.The operating result (EBIT) rose by 22.7 per cent to EUR134.3 million, which was within the expected range of EUR125 million to EUR145 million (previous year: EUR109.4 million).
Consolidated net income after minority interests reached EUR32.5 million, compared to EUR20.0 million in 2023.
Said HHLA chief executive Angela Titzrath: 'In uncertain times, it is crucial to strategically remain on track. That's why we consistently worked on implementing our goals over the past year - focusing on two core areas: we further strengthened our European network, particularly by increasing the number of rail connections.
'The second focus was on the further modernization and automation of our container terminals in Hamburg. Based on the growth of revenue and earnings, we are now able to look forward with optimism to 2025.'
In the Port Logistics subgroup, revenue rose by 10.8 per cent to EUR1,561.7 million, while the operating result (EBIT) increased by 26.8 per cent to EUR117.8 million.
Container handling at HHLA's seaport terminals increased by 0.9 per cent. Handling volumes for routes to and from the Far East and Middle East declined, while there was strong growth for North and South American shipping regions, particularly for traffic with the United States.
In the Intermodal segment, overall container transport increased by 11.6 per cent, with rail transport up by 13.2 per cent and road transport rising by 2.2 per cent. Revenue for the segment increased by 14.6 per cent to EUR711.3 million. EBIT for the Intermodal segment grew by 14.8 per cent to EUR83.7 million.
For 2025, HHLA anticipates strong growth in both container throughput and transport volumes, expecting EBIT for the Port Logistics subgroup to be between EUR180 million and EUR220 million.
SeaNews Turkey
