13.11.2013
Hamburger Hafen und Logistik AG DE000A0S8488
DGAP-News: Hamburger Hafen und Logistik AG: HHLA Records Strong Growth in Container Transport
DGAP-News: Hamburger Hafen und Logistik AG / Key word(s): Interim
Report
Hamburger Hafen und Logistik AG: HHLA Records Strong Growth in
Container Transport
13.11.2013 / 07:30
---------------------------------------------------------------------
HHLA Interim Report January to September 2013
HHLA Records Strong Growth in Container Transport
- Container transport of companies still included in the Intermodal segment
increased by 21.1 %
- Container throughput up by 5.1 %
- Market positions in core business segments expanded further
- Group revenue grew by 2.5 % to EUR 868.0 million
- Operating result (EBIT) decreased slightly to EUR 121.4 million compared
to the previous year's figure adjusted for one-off gain
The remaining transport companies of Hamburger Hafen und Logistik AG (HHLA)
significantly increased their container transport by 21.1 % to 883 thousand
standard containers (TEU) in the first nine months of the 2013 financial
year. This is primarily due to new connections within Germany, with Austria
and with the Polish sea ports. Throughput volume at HHLA's container
terminals in Hamburg and Odessa also developed positively. Despite a slight
overall decline in volumes at competing ports, HHLA increased its container
throughput by 5.1 % to 5.7 million TEU. The operating result (EBIT) was not
able to follow volume growth due to continuing expenses for expansion and
modernisation, which is necessary to handle the rising number of
ever-bigger vessels, as well as burdens due to the flooding in early
summer. Compared to the previous year's figure adjusted for one-off gains,
EBIT decreased slightly to EUR 121.4 million. By contrast, Group revenue
grew by 2.5 % to EUR 868.0 million.
'The success of our Intermodal companies in a challenging environment is
remarkable. The increase in container transport is primarily the result of
our D.A.CH. strategy. We are expanding in the attractive markets of Germany
(D), Austria (A) and, since October 2013, also in Switzerland (CH). The
growth in transport volumes confirms our strategic approach. We are
complementing our technological leadership with high levels of productivity
in seaborne handling, by means of our own high-performance and
cost-effective rail and road hinterland systems. Here we are increasingly
focusing on our own rolling stock and inland terminals. In this way, we are
not only gaining market share in the transport business, but are also
bundling cargo flows for our container terminals. And it is not least
because of this that we have been able to increase our container throughput
in the last nine months despite the general market trend. Given the
infrastructural restrictions that we and our customers continue to face,
this is not something which can be taken for granted. Since the number of
ever-bigger vessels grows, the delay in dredging the river Elbe - already
long outstanding - poses us considerable challenges,' said Klaus-Dieter
Peters, Chairman of the HHLA Executive Board.
Intermodal Network Expanded Considerably
HHLA successfully expanded its Intermodal network in the European
hinterland in the first nine months of 2013 *1). The rail operator Metrans
extended its services in Germany and Austria. Since October, Metrans has
been operating three weekly services between the German sea ports and
Basel. This means that Metrans now offers transport services with
Switzerland for the first time. The HHLA rail company Polzug expanded its
network to include new connections to Poland's sea ports. The resulting
growth at Metrans and Polzug was only slightly hampered by a temporary fall
in volumes during the flooding in May and June. The newly opened hub
terminals in Ceska Trebova (2013) and Poznan (2011) registered a marked
increase in throughput. The strategy of enhancing value added and the
vertical range of production using own equipment has thereby proved
successful.
Container Throughput Grows in Contrast to the Market Trend
With throughput growth of 5.1 %, the HHLA container terminals have also
further strengthened their market position. At its facilities in Hamburg
and Odessa, HHLA achieved container throughput of 5.7 million TEU in the
first nine months. The increase in market share resulted primarily from the
substantial increase of 10.1 % in feeder traffic to the Baltic states and
Russia, as well as the renewed increase of 6.5 % in the handling of
containers from and to the Far East. The container terminal in Odessa also
increased throughput significantly and gained market share in Ukraine. The
higher proportion of total throughput consisting of lower-margin feeder
containers made a decisive contribution to the fact that revenue
development at segment level remained somewhat behind the growth in
volumes. The additional expenses for personnel and equipment incurred by
the delayed dredging of the navigation channel of the river Elbe, together
with the costs of
modernising and expanding the Container Terminal Burchardkai led in large
part to the year-on-year decline in the operating result (EBIT).
Forecast for Revenue and EBIT
On this basis, HHLA is upholding its revenue forecast for the full year
2013. According to this, Group revenue will be between EUR 1.1 billion and
EUR 1.2 billion. This requires greater efforts, however. The Group's
operating result (EBIT) is therefore expected to be at the lower end of the
announced range of EUR 155 million to EUR 175 million.
Changes in Key Group Figures at a Glance (January to September 2013)
- Revenue rose by 2.5 % to EUR 868.0 million.
- The operating result before depreciation and amortisation (EBITDA) was
9.0 % lower than in the previous year, at EUR 212.7 million.
- The operating result (EBIT) fell by 15.6 % to EUR 121.4 million. Compared
to the previous year's figure adjusted for an one-off gain (the realignment
of the Intermodal segment) EBIT only decreased slightly.
- Profit after tax and minority interests fell by 30.3 % to EUR 44.6
million.
At EUR 847.1 million for the period from January to September 2013, the
revenue generated by HHLA's core business - operated by the listed Port
Logistics subgroup - rose by 2.5 % on the previous year. The subgroup's
operating result (EBIT) fell by 17.4 % to EUR 110.7 million. Earnings per
share decreased 33.3 % to EUR 0.57.
1) The Intermodal segment was realigned in the first half of 2012. For this
reason, the volumes, revenue and earnings reported for 2013 are not
directly comparable with the previous year's figures. The 2012 figures
still include the volumes transported by TFG Transfracht. Income for 2012
also contains the portion of Transfracht revenue attributable to HHLA based
on the 50 % stake it held at the time. Furthermore, EBIT for the first nine
months of 2012 includes an one-off gain of EUR 17.3 million, due to the
sale of TFG Transfracht shares.
Key Figures HHLA Group
1-9 | 1-9 | in EUR million 2013 2012 Change Revenue 868.0 847.2 2.5 % EBITDA 212.7 233.8 - 9.0 % EBIT 121.4 143.8 - 15.6 % EBIT margin in % 14.0 17.0 - 3.0 pp Profit after tax 71.1 88.0 - 19.2 % Profit after tax and minority interests 44.6 64.0 - 30.3 % Container throughput in thousand TEU 5,681 5,405 5.1 % Container transport2 in thousand TEU 883 949 - 6.9 % Container transport2 of continued operations in thousand TEU 883 729 21.1 % 30.09.20 31.12.20 Change 13 12 Equity ratio in % 33.8 31.8 2.0 pp Employees 5,015 4,915 2.0 %2 Transport volume was fully consolidated in the previous year. The first quarter of 2012 includes the volume of TFG Transfracht, in which HHLA held a stake until its disposal in the second quarter of 2012. Key Figures Port Logistics Subgroup in EUR million 1-9 | 2013 1-9 | 2012 Change Revenue 847.1 826.7 2.5 % EBITDA 198.8 221.0 - 10.0 % EBIT 110.7 134.0 - 17.4 % EBIT margin in % 13.1 16.2 - 3.1 pp Profit after tax and minority interests 39.8 59.6 - 33.3 % Profit per Class A share in EUR 0.57 0.85 - 33.3 %Contact: Dr. Susanne Umland Investor Relations HAMBURGER HAFEN UND LOGISTIK AG Bei St. Annen 1, D-20457 Hamburg, www.hhla.de Tel: +49-40-3088-3397 Fax: +49-40-3088-55-3397 E-mail: [email protected] End of Corporate News --------------------------------------------------------------------- 13.11.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Hamburger Hafen und Logistik AG Bei St. Annen 1 20457 Hamburg Germany Phone: +49 (0)40-3088-0 Fax: +49 (0)40-3088-3355 E-mail: [email protected] Internet: www.hhla.de ISIN: DE000A0S8488 WKN: A0S848 Indices: SDAX Listed: Regulierter Markt in Frankfurt (Prime Standard), Hamburg; Freiverkehr in Berlin, Düsseldorf, Hannover, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 239421 13.11.2013
|
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu
Hamburger Hafen und Logistik AG ISIN: DE000A0S8488 können Sie bei EQS abrufen
Logistik/Verkehr , A0S848 , HHFA , XETR:HHFA