14.08.2013
Hamburger Hafen und Logistik AG DE000A0S8488
DGAP-News: Hamburger Hafen und Logistik AG: HHLA Maintains Course of Growth in Throughput and Transport
DGAP-News: Hamburger Hafen und Logistik AG / Key word(s): Interim
Report
Hamburger Hafen und Logistik AG: HHLA Maintains Course of Growth in
Throughput and Transport
14.08.2013 / 07:30
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HHLA Interim Report January to June 2013
HHLA Maintains Course of Growth in Throughput and Transport
- Container throughput up by 6.8 %
- Transport companies still included in the Intermodal segment achieve an
increase in container transport by 21.8 %
- Market positions extended further
- Slight increase in operating result (EBIT) adjusted for one-off gains
In the first half of 2013, Hamburger Hafen und Logistik AG (HHLA) increased
its container throughput by 6.8 % to 3.8 million standard containers (TEU).
The volume handled by HHLA's transport companies in the newly aligned
Intermodal segment also rose significantly by 21.8 % to 581 thousand TEU.
The operating result (EBIT) - adjusted for one-off gains - increased
slightly, but failed to match this volume growth due to continuing costs
relating to modernisation and restructuring as well as the expenses
associated with the flooding in the area of key hinterland connections.
Group revenue increased by 1.6 % to EUR 575.2 million.
'Hamburger Hafen und Logistik AG has achieved significant volume growth in
both container throughput and container transport, and has therefore
extended its market position. This is very remarkable, particularly in
light of the challenging market conditions. The fact that the revenue and
earnings trend hasn't been able to fully match the increase in transport
volumes can largely be attributed to this difficult business environment.
For instance, we have incurred significant additional expenses due to the
continuing delays in dredging the river Elbe. However, the volume growth
confirms our strategy of combining a leading position in terms of the
performance and technology of our terminals with our highly productive
hinterland systems', said Klaus-Dieter Peters, Chairman of the HHLA
Executive Board.
Leading Position in Baltic Sea Traffic Strengthened
Despite unfavourable conditions - only moderate global economic growth,
delays in dredging the river Elbe and the Kiel canal's temporary
operational restrictions - HHLA's container terminals in Hamburg and Odessa
significantly increased their throughput. With a slight overall decline in
container throughput at the Northern European ports, the throughput volume
at HHLA's container terminals increased by 6.8 % to 3.8 million standard
containers (TEU). HHLA was therefore able to further extend its market
share. This success is primarily attributable to strong growth in European
feeder traffic to the Baltic Sea (up by 12.6 %) and to a substantial
recovery of Far East traffic. In the first half of 2013, this increased by
8.5 %. The HHLA Container Terminal Odessa also succeeded in increasing its
throughput significantly. Earnings growth lagged slightly behind the
development in revenue. The operating result (EBIT) in the Container
segment increased year-on-year by 3.0 % to EUR 68.8 million. This reflects
general cost increases, the modernisation expenses at the Container
Terminal Burchardkai, the increased ratio of lower-margin feeder traffic
and the additional operating costs resulting from the continuing delays in
dredging the river Elbe.
New Transport Services Successfully Launched in Germany
The rail companies Metrans and Polzug and the trucking company CTD further
extended their market shares in the first half of 2013. With growth of 21.8
% in a market environment characterised by lower overall volumes, their
transport volume increased significantly. Key contributing factors here
were the new connections to Austria, Germany and the seaports in Poland.
The Metrans hub terminal in the Czech city of Ceska Trebova - which went
into operation in early 2013 - rounds off the Intermodal network and
relieves Metrans' Prague hub. Revenue at the segment's remaining companies
exceeded the previous year's level by a considerable margin. The operating
result (EBIT) also increased, but was slowed in its dynamic by the start-up
costs for network expansion and new connections as well as the extreme
flooding in the area of key hinterland connections in May and June.
Forecast for Revenue and EBIT Unchanged
In the first half of the year, HHLA increased its container throughput and
container transport of the companies still included in the Intermodal
segment. However, on account of the continuing expenses associated with the
current challenging market conditions, this required greater efforts. HHLA
is therefore upholding its forecast for revenue and operating result (EBIT)
for the 2013 financial year. HHLA expects Group revenue of between EUR 1.1
billion and EUR 1.2 billion and an operating result in a range of EUR 155
million to EUR 175 million, however, without major progress in the
restructuring processes the result is expected to be at the low half of
this range. Slight, single-digit growth in container throughput is expected
for 2013 as a whole.
Changes in Key Group Figures at a Glance (January to June 2013)
- Revenue rose by 1.6 % to EUR 575.2 million.
- The operating result before depreciation and amortisation (EBITDA) was
8.2 % lower than in the previous year, at EUR 141.9 million.
- The operating result (EBIT) fell by 14.0 % to EUR 81.0 million. However,
adjusted for the one-off gain resulting from the realignment of the
Intermodal segment, EBIT increased slightly.
- Profit after tax and minority interests fell by 31.0 % to EUR 29.0
million.
At EUR 561.3 million for the period from January to June 2013, the revenue
generated by HHLA's core business - operated by the listed Port Logistics
subgroup - rose by 1.5 % on the previous year. The subgroup's operating
result (EBIT) fell by 17.0 % to EUR 73.6 million. Earnings per share
decreased 35.2 % to EUR 0.37.
Key Figures HHLA Group
in EUR million 1-6 | 2013 1-6 | 2012 Change Revenue 575.2 566.3 1.6 % EBITDA 141.9 154.6 - 8.2 % EBIT 81.0 94.2 - 14.0 % EBIT margin in % 14.1 16.6 - 2.5 pp Profit after tax 46.5 58.0 - 19.8 % Profit after tax and minority interests 29.0 42.0 - 31.0 % Container throughput in thousand TEU 3,757 3,516 6.8 % Container transport in thousand TEU1 581 697 - 16,6 % 30.06.2013 31.12.2012 Change Equity ratio in % 32.3 31.8 0.5 pp Employees 4,937 4,915 0.4 %1 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 1-6 | 2013 1-6 | 2012 Change Revenue 561.3 552.8 1.5 % EBITDA 132.5 147.1 - 9.9 % EBIT 73.6 88.7 - 17.0 % EBIT margin in % 13.1 16.0 - 2.9 pp Profit after tax and minority interests 25.7 39.7 - 35.2 % Profit per Class A share in EUR 0.37 0.57 - 35.2 %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 --------------------------------------------------------------------- 14.08.2013 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 --------------------------------------------------------------------- 225644 14.08.2013
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