Hamburger Hafen und Logistik AG (HHLA) increased its revenue by 8.5% to €1,182.9 million in the first three quarters of 2024. Operating profit (EBIT) increased by 23.2% to €93.2 million, while net profit amounted to €23.1 million, almost double the previous year’s figure. The improved financial results were driven by increased transport volumes, higher container storage fees at the Port of Hamburg and the expansion of the European network.
In the container shipping segment, handling volumes at HHLA terminals increased by 0.9% to 4.5 million TEU. International terminals showed growth of 20.2%, which is due to activity in Estonia and the resumption of operations at the Odessa terminal in the third quarter. Container volumes increased by 8.1% to 1.32 million TEU, with the share of rail transport increasing to 86.6%.
The Real Estate segment, despite almost full occupancy, showed a decrease in revenue by 1.9% to €34.3 million due to preparatory work for new projects at the Hamburg fish market. Operating profit decreased by 15.4% to €11.4 million.
In light of these results, HHLA has raised its forecasts for 2024, expecting significant growth in revenue and EBIT in the range of €125–145 million. The main contribution will come from the container and intermodal segments, while the results in the Real Estate segment will remain at the same level as last year.
Investments at the group level have been revised downwards and are expected to be in the range of €325–375 million. The bulk of them will be directed towards logistics projects, including the development of container and transport operations.