Germany's HHLA ends 2024 financial year with positive growth in revenue and earnings

According to preliminary unaudited figures, German port operator and logistics company Hamburger Hafen und Logistik (HHLA) recorded an increase in group revenue of 10.5 per cent to €1.598 billion (US$1.68 billion) in the 2024 financial year (previous year: €1.447 billion; US$1.52 billion).

The group operating result (EBIT) increased by 22.7 per cent to €134 million (US$141 million), thus falling within the expected range of €125 million (US$131 million) to €145 million (US$152 million) (previous year: €109 million; US$115 million).

Consolidated net income after minority interests came to €33 million (US$35 million) (previous year: €20 million; US$21 million). Group container handling at the seaport terminals increased by 0.9 per cent to 5.97 million TEUs (previous year: 5.917 million TEUs).

Container throughput at the Hamburg container terminals was largely unchanged from the previous year at 5.686 million TEUs (previous year: 5.687 million TEUs). Transport volume in the intermodal segment increased by 11.6 per cent to 1.787 million TEUs (previous year: 1.602 million TEUs).

"Despite ongoing geopolitical instability, recession in Germany and supply chain disruptions, we consistently pushed ahead with the strategic development of HHLA in 2024," said Angela Titzrath, Chief Executive Officer of HHLA. "The targeted expansion of our European network in particular had a positive effect on our revenue and earnings."

In the publicly listed Port Logistics subgroup, revenue increased by 10.8 per cent to €1.562 billion (US$1.64 billion) (previous year: €1.409 billion; US$1.48 billion). The operating result (EBIT) increased by 26.8 per cent year-on-year to €118 million (US$124 million) (previous year: €93 million; US$98 million), placing it within the most recent forecast, which had assumed earnings within a range between €110 million (US$116 million) and €130 million (US$137 million).

Profit after tax and minority interests came to €23 million (US$24 million) (previous year: €9 million; US$9.5 million).

In addition to the strong rise in transport volume in the intermodal segment, the year-on-year increase in storage charges due to longer dwell times for containers handled by the Hamburg terminals also had a positive effect on revenue and earnings.

The Annual Report with audited figures for the 2024 financial year will be published at 07:30 local time on Wednesday, March 26, 2025.