HHLA's pre-tax earnings up 2.4pc but box revenues slip 1.2pc
GERMAN logistics provider and container terminal operator Hamburger Hafen und Logistik AG (HHLA) posted earnings before interest and tax of EUR126.9 million (U.S. $137.5 million) for the first nine months of 2016, a 2.4 per cent increase from the corresponding 2015 period.
Revenues for the first nine months of 2016 inched up 0.2 per cent year over year to EUR871 million, the American Shipper reported.
However, the container segment's revenues slipped 1.2 per cent from the first nine months of 2015 to EUR512.7 million euros, while the intermodal segment's revenues sped up 6.1 per cent to EUR289.5 million.
"Our successfully established and expanded intermodal segment has become a dynamic earnings driver for our group," said Klaus-Dieter Peters, chairman of HHLA's executive board.
Container throughput fell 2.1 per cent to 4.9 million TEU, but box volumes recovered in the third quarter, following the negative volumes trend in the first half of 2016. Container volumes in the third quarter alone rose 5.6 per cent from the same period last year thanks to an increase in feeder traffic, particularly between Hamburg and Russia.
HHLA's transport companies moved 1.1 million TEU during the first nine months of the year, a 5.9 per cent increase from the corresponding period in 2015.
"HHLA turned in a satisfactory performance given the still subdued global economic growth, weak global trade, a further slowdown in global container throughput and continued infrastructure deficits," said Mr Peters.
GERMAN logistics provider and container terminal operator Hamburger Hafen und Logistik AG (HHLA) posted earnings before interest and tax of EUR126.9 million (U.S. $137.5 million) for the first nine months of 2016, a 2.4 per cent increase from the corresponding 2015 period.
Revenues for the first nine months of 2016 inched up 0.2 per cent year over year to EUR871 million, the American Shipper reported.
However, the container segment's revenues slipped 1.2 per cent from the first nine months of 2015 to EUR512.7 million euros, while the intermodal segment's revenues sped up 6.1 per cent to EUR289.5 million.
"Our successfully established and expanded intermodal segment has become a dynamic earnings driver for our group," said Klaus-Dieter Peters, chairman of HHLA's executive board.
Container throughput fell 2.1 per cent to 4.9 million TEU, but box volumes recovered in the third quarter, following the negative volumes trend in the first half of 2016. Container volumes in the third quarter alone rose 5.6 per cent from the same period last year thanks to an increase in feeder traffic, particularly between Hamburg and Russia.
HHLA's transport companies moved 1.1 million TEU during the first nine months of the year, a 5.9 per cent increase from the corresponding period in 2015.
"HHLA turned in a satisfactory performance given the still subdued global economic growth, weak global trade, a further slowdown in global container throughput and continued infrastructure deficits," said Mr Peters.