12.05.2016
Hamburger Hafen und Logistik AG DE000A0S8488
DGAP-News: Hamburger Hafen und Logistik AG: Economic Development Meets Expectations
DGAP-News: Hamburger Hafen und Logistik AG / Key word(s): Quarterly /
Interim Statement
Hamburger Hafen und Logistik AG: Economic Development Meets Expectations
12.05.2016 / 07:30
The issuer is solely responsible for the content of this announcement.
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HHLA Interim Statement January to March 2016
Economic Development Meets Expectations
The 2016 financial year started as expected for Hamburger Hafen und
Logistik AG (HHLA). While container transport increased by just over 2
percent to 341 thousand standard containers (TEU), container throughput
fell by almost 8 percent to 1.6 million TEU. At just under EUR 285 million,
revenue was slightly over 4 % down year-on-year. The operating result(EBIT)
declined by almost 5 % to around EUR 40 million. In contrast, profit
after tax and minority interests climbed by nearly 45 % to just over EUR 18
million.
- Container throughput down by 7.7 % against previous year at 1.6 million
TEU
- Further increase of 2.4 % in container transport to 341 thousand TEU
- Revenue down by 4.1 % to EUR 284.8 million
- At EUR 41.0 million, operating result (EBIT) declines by 4.7 %
- Profit after tax and minority interests climbs 44.6 % to EUR 18.1
million
Klaus-Dieter Peters, Chairman of HHLA's Executive Board, on developments in
the first quarter: "Given the ongoing challenges in the operating
environment, the performance of Hamburger Hafen und Logistik AG in the
first quarter was in line with our expectations. The throughput volumes at
our container terminals did decline in comparison with the positive first
quarter of 2015, but they increased against the fourth quarter of 2015. As
a result, we believe that volumes in the Container segment have bottomed
out and anticipate stable development for the rest of the year. Our
intermodal companies once again recorded a pleasing development in
container transport. Due to another increase in rail traffic, they climbed
by 2.4 % against the same period of the previous year, which already saw
excellent results. The Intermodal segment by now contributes approximately
40 % to the consolidated operating result. This confirms our decision to
expand the Intermodal segment to become the Group's second strong pillar."
Container Throughput Bottoms Out
At 1.6 million TEU, HHLA's container terminals handled 7.7 % fewer
containers than in the same period of the previous year, but 5.1 % more
than in the fourth quarter of 2015. This should lead to the decline in
volumes bottoming out. While the Container Terminal Odessa already recorded
growth of 4.8 % to 67 thousand TEU, throughput at the three terminals in
Hamburg declined by 8.2 % to 1.5 million TEU. Revenue in the Container
segment declined by 6.0 % to EUR 169.2 million. The operating result (EBIT)
for the segment saw a decrease of 14.2 % to EUR 27.9 million as a result of
the underutilisation of the Hamburg facilities.
Intermodal Companies Record Growth in Volume, Revenue and Earnings
The growth seen by the HHLA transport companies was driven by the increase
in rail transport, which went up by 4.8 % to 264 thousand TEU. With growth
of 1.0 % to EUR 92.6 million, revenue grew less dynamically than transport
volumes. The operating result (EBIT) increased to EUR 16.3 million
(previous year: EUR 12.7 million), whereby the extended use of the
company's own locomotives and waggons has made a significantly positive
mark on the result in the form of productivity gains and an improved cost
structure. As the company's own locomotives were still being procured in
the same period last year, these effects were not yet fully recognisable in
the first quarter of 2015.
Forecast for Revenue and Earnings Confirmed
In light of the Group's performance in the first quarter, HHLA confirms its
forecast and anticipates revenue at Group level on a par with the previous
year and, following one-off consolidation expenses, a consolidated
operating result (EBIT) in the range of EUR 115 million and EUR 145
million.
Contact:
Heiko Hoffmann
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]
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12.05.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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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: Regulated Market in Frankfurt (Prime Standard), Hamburg;
Regulated Unofficial Market in Berlin, Dusseldorf,
Hanover, Munich, Stuttgart; Terminbörse EUREX
End of News DGAP News Service
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