German port and terminal operator Hamburger Hafen und Logistik AG (HHLA) achieved to complete the first half of 2024 with positive results, despite the weak start of the year.
In particular, the company’s revenue rose by 4.6% to €760.3 million, operating result (EBIT) climbed by 16.8% to €58.9 million, EBIT margin amounted to 7.7% and consolidated profit after tax and minority interests increased to €13.2 million in the first half of 2024 from €8.2 million in the same period last year.
Angela Titzrath, CEO of HHLA, commented, “The first half of the year was characterised by a challenging market environment for HHLA. Despite making the necessary adjustments due to supply chain disruptions, HHLA was still able to achieve growth in container handling and transport. Even if the business forecast remains challenging due to the weak economy, ongoing crises and changes in the market, HHLA is in a strong position thanks to its strategic approach. We are therefore continuing to invest in our European network, the modernisation of our terminals, the qualification of our employees and the development of sustainable logistics solutions.”
Additionally, HHLA terminals handled 2.94 million TEUs in the first six months of the year, translating to a 2.2% year-on-year growth. The operator’s intermodal segment saw a slight increase of 1.8% with 833,000 TEUs overall. HHLA rail volumes rose by 4% to 719,000 TEUs, while HHLA road transport volumes fell by 10% 115,000 TEUs.
HHLA noted that a significant increase in revenue is forecast at a Group level with the operating result (EBIT) still expected to be within a range between €85 million and €115 million.
