HHLA's Revenue & Earnings Rise

By Joseph R. Fonseca
Sunday, August 17, 2014
HHLA_robust performance

 

*Container throughput in Hamburg up by 2.1 %
*Container transport grows by 9.0 %
*Improvements in revenue and operating result
*HHLA confirms forecast


In the first half of 2014, Hamburger Hafen und Logistik AG (HHLA) increased its revenue by 5.2 percent to € 595.7 million and improved its operating result (EBIT) by 3.4 percent to € 81.4 million. HHLA has confirmed its forecast for the full year 2014.
 

“Hamburger Hafen und Logistik AG has achieved a favourable performance in the first half of 2014. We have maintained our significantly expanded market position in container handling as well as the growth trend for our container transport services, with a further rise in market shares. This has enabled us to generate higher revenue and improve our earnings. Despite rising competitive pressure and continuing infrastructure restrictions, this is a highly significant development”, said Klaus-Dieter Peters, Chairman of HHLA’s Executive Board.
 
FAR EAST TRAFFIC DRIVES THROUGHPUT GROWTH
With growth of 2.1 percent in throughput at its Hamburg container terminals, HHLA has consolidated its market position among Northern Europe’s major ports. However, the drop in container throughput at the HHLA terminal in Odessa (Ukraine) as a result of the crisis there meant that the Container segment recorded an overall increase in throughput of just 0.7 percent to 3.8 million standard containers (TEU) in the first half of 2014. Feeder traffic via the Baltic to Russia also declined for the first time since 2009. By contrast, the growth in throughput in Hamburg was due to the sharp rise of 8.0 percent in Far East traffic on existing liner services compared with the first half of 2013.
 
HHLA’S HINTERLAND STRATEGY CONTINUES TO BE SUCCESSFUL
HHLA’s hinterland systems for container transport by road and rail increased their volumes in the first six months of the 2014 financial year by 9.0 percent to 633 thousand TEU. The strong growth can mainly be attributed to the success of the newly established rail transport links in Germany, Austria and Switzerland since the end of 2012. However, existing connections with the Czech Republic and Slovakia and traffic with the Polish seaports also recorded an increase.
 
FORECAST FOR THE FULL YEAR 2014 CONFIRMED
On the basis of the development in the first half of the year, HHLA confirms its expectation of a slight increase in container throughput in 2014 as a whole - provided that the current structure of freight flows remains unchanged. With regard to container transport, HHLA is aiming for growth that is well above the general market trend. Against this background, HHLA forecasts a moderate increase in revenue compared with the previous year’s adjusted figure (€ 1.14 billion) and an operating result (EBIT) at Group level of between € 138 million and € 158 million.

A number of fundamental uncertainties continue to apply for the rest of the year. In particular, of the conflict in Ukraine and the development of economic relationships with Russia, but also in terms of progress in consolidating the container shipping segment. The restructuring of liner services entails both risks and opportunities.

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

Southern California Port Congestion

Hapag-Lloyd informs about the congestion at the ports of Los Angeles and Long Beach that has reached a critical point. I. Several container ships are anchoring

GAC Starts Hull Cleaning Op'ns in Oman

GAC EnvironHull hull cleaning operations using the brush-and-diver-free HullWiper system starting at the port of Sohar, just outside the Gulf of Hormuz. This

Bulker Arrives to US on Her Maiden Voyage

The Port of Vancouver USA welcomed the Kypros Unity, commanded by Capt. Wilfredo F. Itable of Cyprus, on her maiden voyage Oct. 28. Capt. Itable and his 20-member

Finance

Italy Ending Med Sea Rescues

Rights groups warn of risk of more deaths; EU mission Triton will have more limited scope. Italy said on Friday it would close a sea rescue mission that has saved the lives of more than 100,

St. Lawrence Seaway Workers Extend Strike Deadline

The union that represents workers on the St. Lawrence Seaway, the waterway that links the Great Lakes and the Atlantic Ocean, has extended a strike deadline to Monday at 5 p.

Mitsubishi Exits Cruise Business; Books $357m Loss

Mitsubishi Heavy Industries, Ltd. (MHI) announced its decision to book an extraordinary loss from its cruise ship business in the company's consolidated financial

News

U.S. Drillers Cut Rigs to Lowest since August

Energy companies have reduced the number of rigs drilling for oil in the United States to the lowest since August, shifting more rigs in favor of natural gas as crude prices dive,

Equinox Class Scrubber Systems Receive Certification

Algoma Central Corporation (“Algoma”), the largest Canadian shipowner and operator of domestic Great Lakes vessels announces that it has received all requisite

Wärtsilä, Diesel United Renew Pact

Wärtsilä and Diesel United Ltd in Japan have signed a ten-year renewal of their co-operation agreement for the sale, manufacturing and servicing of Wärtsilä low-speed marine engines.

Logistics

U.S. Drillers Cut Rigs to Lowest since August

Energy companies have reduced the number of rigs drilling for oil in the United States to the lowest since August, shifting more rigs in favor of natural gas as crude prices dive,

Italy Ending Med Sea Rescues

Rights groups warn of risk of more deaths; EU mission Triton will have more limited scope. Italy said on Friday it would close a sea rescue mission that has saved the lives of more than 100,

St. Lawrence Seaway Workers Extend Strike Deadline

The union that represents workers on the St. Lawrence Seaway, the waterway that links the Great Lakes and the Atlantic Ocean, has extended a strike deadline to Monday at 5 p.

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Port Authority Salvage Ship Repair Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2299 sec (4 req/sec)