30.03.2015
Hamburger Hafen und Logistik AG DE000A0S8488
DGAP-News: Hamburger Hafen und Logistik AG: Greater Output, Increased Employment, Higher Earnings
DGAP-News: Hamburger Hafen und Logistik AG / Key word(s): Final
Results
Hamburger Hafen und Logistik AG: Greater Output, Increased Employment,
Higher Earnings
30.03.2015 / 07:30
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HHLA Financial Year 2014
Greater Output, Increased Employment, Higher Earnings
- Operating result (EBIT) increased by 10.0 % to EUR 169.3 million
- Container throughput in Hamburg at a record level of 7.2 million
standard containers (TEU)
- Container throughput overall of 7.5 million TEU
- Further increase of 9.4 % in container transport to 1.3 million TEU
- Number of employees increases by 270
- Dividend proposal: increase of 16 % to EUR 0.52 per listed Class A
share
- Outlook: Slight increase in container throughput despite growing
pressure due to further delay in the dredging of the river Elbe,
increase in market share in container transport, operating result
expected to be on par with previous year.
Hamburger Hafen und Logistik AG (HHLA) improved its operating result (EBIT)
by 10 % year-on-year to EUR 169.3 million in the 2014 financial year. The
company's container terminals in Hamburg set a new throughput record of 7.2
million standard containers (TEU). The Intermodal companies operating in
rail and road services in particular achieved another substantial increase
of 9.4 % in their transport volumes to 1.3 million TEU.
This pleasing development in 2014 validates the measures taken by the
company early on to further improve the quality and capacity of mega-ship
handling at the terminals and to gear the company up for an increasing
number of ultra large vessels calling at the harbour. HHLA increased its
number of employees on the basis of the rise in volumes at the Hamburg
terminals, the ongoing expansion of the hinterland networks and the
increasing use of its own locomotives. 270 new members of staff took up
qualified and future-proof employment positions with the company in 2014.
HHLA now has a workforce totalling approximately 5,200 employees.
Furthermore, the company improved the handling and coordination of all
modes of transport at the terminals. The Nautical Terminal Coordination
system preponderantly operated by HHLA was launched in the last financial
year to coordinate mega-ship calls at the port of Hamburg. The "Fuhre 2.0"
programme, which enables HHLA to safeguard high-quality truck handling and
to spread truck traffic more evenly throughout the day, was continued. With
Rail Operation Management, HHLA also further increases rail processing
efficiency in Europe's biggest railway port. This primarily takes into
account that more rail throughput is handled per annum at the Hamburg HHLA
terminals than in both the Ports of Rotterdam and Antwerp together. Thus,
HHLA is efficiently linking the seaports and the Central and Eastern Europe
hinterland in a unique way. Here, the company is focusing in particular on
rail as an environmentally friendly mode of transport and extends its
maritime transport chains all the way to the Adriatic ports and into
Turkey.
"Despite a challenging environment particularly due to the further delay
in dredging the navigation channel of the river Elbe, 2014 was a successful
year for HHLA,as demonstrated by the significant increase in our operating
result, a clear rise in our container transports and the record volume of
cargo that we handled at our Hamburg container terminals. Our vertical
Group strategy puts us in a strong position and we will continue to work
intensively on improving the coordination of the logistics chain in the
future," said the Chairman of HHLA's Executive Board
Klaus-Dieter Peters at the presentation of the 2014 annual financial
statements. "We have invested in further improving our handling efficiency,
for example by creating capacity reserves at our terminals in good time and
by increasing our productivity. We made investments of more than EUR 100
million in the Intermodal segment over the past three years, investing in
additional hinterland terminals and in our own locomotives and wagons."
Revenue and Earnings Development
HHLA generated revenue of EUR 1.2 billion in the financial year 2014, up
5.4 % on the previous year. There was an even stronger increase in its
operating result (EBIT), which rose by 10.0 % to EUR 169.3 million. This
was particularly due to overseas volumes that were 4.3 % higher
year-on-year. Throughput volumes generated by Far East traffic even
increased by 7.2 %. Other drivers of growth were the greater volumes
transferred at the HHLA terminals in Hamburg to rail (+ 6.2 %) and trucks
(+ 2.1 %), and the Intermodal companies' higher transport volumes (+ 9.4
%). HHLA Container Terminal Odessa achieved a positive operating result in
spite of a 30 % drop in its throughput due to the political and economic
crisis in Ukraine and Russia. Greater value added within the Intermodal
segment as a result of additional terminals, own locomotives and wagons
also had a positive impact.
Revenue in the listed Port Logistics subgroup went up by 5.5 % to EUR
1,171.2 million. The subgroup's operating result (EBIT) increased by 11.0 %
to EUR 155.6 million.
Proposed Dividend Payment of EUR 0.52
At the Annual General Meeting on 11 June 2015, the Executive and
Supervisory Boards of HHLA will propose the payment of EUR 0.52 for the
financial year 2014 for the listed Class A shares in the Port Logistics
subgroup (97.6 % of Group revenue). This corresponds to a dividend payout
ratio of almost 70 % of the net profit for the year after minority
interests. Should the Annual General Meeting accept this proposal, the Free
and Hanseatic City of Hamburg alone could receive dividends totalling
around EUR 30 million for its Class A shares and its non-listed Class S
shares in the Real Estate subgroup for the last financial year.
Accordingly, approximately EUR 11 million would go to the remaining
shareholders in the Port Logistics subgroup.
High Value Added for the Metropolitan Region
HHLA once again generated considerable economic added value in 2014, in
particular for the Hamburg metropolitan region. As an employer, the company
spent EUR 414.0 million, primarily on its own and external staff members.
EUR 39.5 million was paid to the public authorities, first and foremost as
income taxes. The shareholders' and minority shareholders' share of the
earnings came to EUR 90.6 million (consolidated net income).
Outlook for 2015: Growth in container throughput and container transport,
operating result at previous year's level expected
In light of the expected development of the economy and the market
environment, continued regional risks and the further delay in the dredging
of the river Elbe, HHLA expects a slight increase in container throughput
for the year 2015. HHLA also expects to gain further market shares for its
rail companies. "We aim to set benchmarks in terms of the productivity and
efficiency of our terminals, operate the most efficient rail network for
container transport in Central and Eastern Europe, increase the
digitalisation of our logistics chain and consolidate our high customer
loyalty level by means of quality leadership," said Chairman of the
Executive Board Klaus-Dieter Peters.
Key Figures HHLA Group
in EUR million 2014 2013 Change Revenue 1,199.6 1,138.1 5.4 % EBITDA 294.2 274.8 7.1 % EBIT 169.3 153.9 10.0 % EBIT margin in % 14.1 13.5 0.6 pp Profit after tax 90.6 80.4 12.6 % Profit after tax and minority interests 58.9 54.3 8.5 % Container throughput in thousand TEU 7,480 7,500 - 0.3 % Container transport in thousand TEU 1,283 1,172 9.4 % 31.12.2014 31.12.2013 Change Equity ratio in % 30.6 35.0 - 4.4 pp Employees 5,194 4,924 5.5 %Key Figures Port Logistics Subgroup1,2 in EUR million 2014 2013 Change Revenue 1,171.2 1,110.1 5.5 % EBITDA 276.2 257.0 7.5 % EBIT 155.6 140.2 11.0 % EBIT margin in % 13.3 12.6 0.7 pp Profit after tax and minority interests 52.3 48.3 8.2 % Dividend in EUR per Class A share3 0.52 0.45 15.6 %Retrospective restatement of the figures for the previous year resulting from application of IFRS 11. 1 Before consolidation between subgroups. 2 Class A shares 3 2014: Dividend proposal 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] --------------------------------------------------------------------- 30.03.2015 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, 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: Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Hanover, Munich, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 338891 30.03.2015
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