After a weak start to the year in a difficult economic environment, Hamburger Hafen und Logistik AG (HHLA) closed the first half of 2024 with positive financial results. The company’s revenue increased by 4.6% to €760.3 million, while operating profit (EBIT) increased by 16.8% to €58.9 million. The company’s profit after tax and minority interests amounted to €13.2 million, up €5 million compared to the same period last year.
The Port Logistics division posted moderate revenue growth to €742.5 million, while operating profit increased by 27.5% to €51.7 million. In the container shipping segment via HHLA terminals, volumes increased by 2.2% to 2.94 million TEU. Particularly strong growth was seen in cargo flows from North and South America as well as in European seaports, despite a decline in volumes in the Far East and Middle East regions.
HHLA’s international container terminals also showed a significant increase in volumes, especially in Estonia, where growth was 13.5%. This growth offset a decline in volumes in Italy due to military action in the Red Sea. In the intermodal segment, container volumes increased by 1.8% to 833,000 TEU, with rail traffic increasing by 4.0% and road traffic decreasing by 10.0%.
Despite the volatile market, HHLA managed to maintain almost full occupancy at its properties in the historic Speicherstadt and the Hamburg fish market. However, revenue in this segment declined by 1.8% due to the demolition of warehouses in the fish market area to prepare for new projects.
The company forecasts a significant increase in revenue at group level for the year, and also expects operating profit (EBIT) to be between 85 and 115 million euros. The most significant growth is expected in the container and intermodal transport segments.