14.05.2013 Hamburger Hafen und Logistik AG  DE000A0S8488

DGAP-News: Hamburger Hafen und Logistik AG: HHLA Grows in a Difficult Market Environment


 
DGAP-News: Hamburger Hafen und Logistik AG / Key word(s): Quarter Results Hamburger Hafen und Logistik AG: HHLA Grows in a Difficult Market Environment 14.05.2013 / 07:30 --------------------------------------------------------------------- HHLA Interim Report January to March 2013 HHLA Grows in a Difficult Market Environment - Container throughput up by 5.0 % - Transport companies still included in the Intermodal segment grow by 23.9 % - Operating result (EBIT) improves by 13.2 % to EUR 38.5 million - Forecast confirmed in spite of a persistently difficult market environment Hamburger Hafen und Logistik AG (HHLA) increased its container throughput in the first three months of 2013 by 5.0 % to 1.8 million standard containers (TEU). The transport companies which were continued following the realignment of the Intermodal segment achieved a considerable increase in volumes, with growth of 23.9 %. Revenue fell by 2.7 % to EUR 279.0 million due to consolidation, while the operating result (EBIT) increased by 13.2 % to EUR 38.5 million. 'The considerable volume growth in our core business segments and the year-on-year improvement in our earnings are respectable - in particular given that we are still faced with a challenging macroeconomic environment. This confirms that we are on the right track by raising our container terminals' performance and systematically expanding our intermodal network', said Klaus-Dieter Peters, Chairman of the HHLA Executive Board. Substantial increase in container throughput HHLA achieved growth of 5.0 % in its container throughput, despite a difficult market environment, compared to the low base level of the first quarter of 2012. This was largely due to a 6.7 % increase in Asian traffic, a 7.4 % increase in feeder traffic to the Baltic ports and a significant rise in throughput volume at the HHLA Container Terminal Odessa. The comparatively low-margin feeder traffic was offset by a marginal increase in storage fees, such that revenue of the Container segment developed in line with the volume growth, at a rate of 5.6 %. Realignment of Intermodal activities strengthens hinterland links HHLA's transport companies still included in the Intermodal segment - the rail companies Metrans and Polzug, as well as the trucking company CTD - increased their volume substantially in the first quarter of 2013, with a rise of more than 20 %. Key factors contributing to this increase in transport volume were the new connections to Austria, Germany and the seaports in Poland. The intermodal network was expanded to incorporate a key node in early 2013 with the start of trial operations at the new Metrans hub terminal in Ceska Trebova in the Czech Republic. The restructuring of Polzug has also already led to considerable volume growth. However, the revenue and earnings development of the companies that are still included in the Intermodal segment failed to keep pace with the increase in volume due to tougher competition, the restructuring expenses at Polzug, ramp-up costs for new connections and higher depreciation and amortisation. Forecast confirmed The figures for the first quarter of 2013 corroborate the forecast for the full year. HHLA is anticipating container throughput to remain at the level seen in 2012 and an increase in container transport to around 1.1 million standard containers (TEU) based on the new ownership structure. As a result, HHLA is forecasting Group revenue of between EUR 1.1 billion and EUR 1.2 billion. General cost increases will likely strain earnings as container throughput flatlines. The rising earnings potential of the transport companies will only have a limited effect on the result due to the additional costs involved in entering new markets, and will be unable to match the one-off gain of EUR 17.6 million from the previous year. HHLA is therefore still aiming to achieve an operating result (EBIT) of between EUR 155 million and EUR 175 million. Development of key Group figures at a glance (January to March 2013) - Revenue fell by 2.7 % to EUR 279.0 million following the realignment of the Intermodal segment in the previous year. - The operating result before depreciation and amortisation (EBITDA) was 7.9 % down on the previous year at EUR 69.1 million. - The operating result (EBIT) increased by 13.2 % to EUR 38.5 million partly due to the recognition of hidden reserves in the Logistics segment. - Profit after tax and minority interests was up by 48.1 % against the previous year at EUR 14.4 million. At EUR 272.2 million for the period from January to March 2013, the revenue generated by the listed Port Logistics subgroup - in which HHLA's core business is pooled - declined by 2.8 % compared with the same period last year. The subgroup's operating result (EBIT) increased by 10.4 % to EUR 34.8 million. This meant that the Port Logistics subgroup generated 97.6 % of Group revenue and 90.2 % of Group EBIT. Key Figures HHLA Group

in EUR million                           1-3 | 2013  1-3 | 2012    Change
Revenue                                       279.0       286.8   - 2.7 %
EBITDA                                         69.1        64.0     7.9 %
EBIT                                           38.5        34.0    13.2 %
EBIT margin in %                               13.8        11.9    1.9 pp
Profit after tax                               22.3        19.1    16.8 %
Profit after tax and minority interests        14.4         9.7    48.1 %
Container throughput in thousand TEU          1,818       1,731     5.0 %
Container transport in thousand TEU1            290         454  - 36.1 %
                                         31.03.2013  31.12.2012    Change
Equity ratio in %                              32.7        31.8    0.9 pp
Employees                                     4,943       4,915     0.6 %


Key Figures Port Logistics Subgroup

in EUR million                            1-3 | 2013   1-3 | 2012    Change
Revenue                                        272.2        280.2   - 2.8 %
EBITDA                                          64.3         60.5     6.3 %
EBIT                                            34.8         31.5    10.4 %
EBIT margin in %                                12.8         11.2    1.6 pp
Profit after tax and minority interests         12.8          8.8    46.1 %
Profit in EUR per Class A share                 0.18         0.13    46.0 %


1 Transport volume was fully consolidated. The first quarter of 2012 includes the traffic of TFG Transfracht, in which HHLA held shares until the separation in the second quarter of 2012. Contact: Matthias Funk 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 --------------------------------------------------------------------- 14.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory 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)40-3088-1 Fax: +49 (0)40-3088-3355 E-mail: [email protected] Internet: www.hhla.de ISIN: DE000A0S8488 WKN: A0S848 Indices: MDAX Listed: Regulierter Markt in Frankfurt (Prime Standard), Hamburg; Freiverkehr in Berlin, Düsseldorf, Hannover, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 210836 14.05.2013


Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 1.220,26 1.258,52 1.349,96 1.269,34 1.435,75 1.542,25 1.408,87
EBITDA1,2 274,49 297,77 358,73 269,43 384,66 369,63 262,01
EBITDA-Marge3 22,49 23,66 26,57 21,23 26,79 23,97
EBIT1,4 156,58 188,42 204,43 110,30 212,57 201,61 92,90
EBIT-Marge5 12,83 14,97 15,14 8,69 14,81 13,07 6,59
Jahresüberschuss1 95,99 129,10 127,41 66,84 123,67 122,44 31,08
Netto-Marge6 7,87 10,26 9,44 5,27 8,61 7,94 2,21
Cashflow1,7 258,90 214,78 302,99 271,42 299,01 257,12 199,43
Ergebnis je Aktie8 1,02 1,47 1,34 0,50 1,43 1,13 0,12
Dividende8 0,67 0,80 0,70 0,45 0,75 0,75 0,59
Quelle: boersengefluester.de und Firmenangaben

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1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: PricewaterhouseCoopers

INVESTOR-INFORMATIONEN
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HHLA
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A0S848 16,800 Halten 1.263,69
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
21,54 21,48 1,00 18,34
KBV KCV KUV EV/EBITDA
1,87 6,34 0,90 8,63
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
0,75 0,08 0,48 13.06.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
15.05.2024 14.08.2024 14.11.2024 21.03.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
0,15% 11,73% 0,24% 50,81%
    
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