DGAP-News: Hamburger Hafen und Logistik AG: HHLA Confirms Forecast for the Full Year 2012
(firmenpresse) - DGAP-News: Hamburger Hafen und Logistik AG / Key word(s): Quarter
Results
Hamburger Hafen und Logistik AG: HHLA Confirms Forecast for the Full
Year 2012
13.11.2012 / 07:30
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HHLA Interim Report January to September 2012
HHLA Confirms Forecast for the Full Year 2012
- Container throughput up by 1.9 %
- Terminal modernisation continued, capacity extension cut short
- Realignment of the Intermodal segment
- Forecast confirmed despite considerably deteriorated economic environment
Hamburger Hafen und Logistik AG (HHLA) increased its container throughput
in the first nine months of 2012 by 1.9 % to 5.4 million standard
containers. Revenue fell by 7.2 percent to EUR 847.2 million due to the
restructuring of the Intermodal segment and changes in consolidation
methods. The operating result (EBIT) declined by 12.6 % to EUR 143.8
million. Profit after tax and minority interests was down by 2.1 % compared
to the previous year at EUR 64.0 million.
'As we expected, the economic environment continued to deteriorate over the
course of the third quarter of 2012. On the basis of our performance to
date we are nevertheless able to confirm our forecast for the full year
2012,' said Klaus-Dieter Peters, Chairman of the HHLA Executive Board. 'We
continue to expect container throughput on par with last year and on this
basis are aiming for revenue in the region of EUR 1.1 billion and an
operating result in the range of EUR 170 million to EUR 190 million.'
Profitability increased, investments adjusted
The throughput growth at the HHLA container terminals in Hamburg and Odessa
slowed as forecasted over the first nine months, but was still up by 1.9 %,
with throughput of 5.4 million standard containers (TEU). Without
non-recurring year-on-year effects, HHLA was able to improve its
profitability in core business activities substantially in the third
quarter of 2012 compared with the previous two, in particular due to
improvements in cost efficiency. In view of the gloomier economic prospects
HHLA has reduced the investment volume originally planned for the 2012
financial year from EUR 250 million to around EUR 200 million. The
postponed investments related mainly to capacity increases in container
throughput.
Realignment of Intermodal activities continued
Following the acquisition of the remaining 25.5 % of the shares in Polzug
from PKP Cargo in October 2012, HHLA now holds 100 % of the company. In the
second quarter of 2012, HHLA and Deutsche Bahn separated their
shareholdings in the Intermodal companies for hinterland rail traffic.
Since then HHLA holds 86.5 % of the shares in Metrans. Its former 50 %
stake in TFG Transfracht was acquired by Deutsche Bahn. HHLA's objective is
to align the Intermodal companies even more closely with the demands of
maritime logistics in future. Polzug con-nected the Polish seaports to its
hub terminal in Poznán in the third quarter of 2012. Metrans added an own
site in Austria to its network with the acquisition of a company operating
the container terminal at the Danube port of Krems in early October 2012.
German seaports are now linked directly to the economic region of Lower
Austria via Krems.
Terminal modernisation reinforces competitiveness
In the first nine months of 2012, HHLA took numerous steps to increase its
productivity in handling thegrowing number of mega-ships at the Port of
Hamburg. This strengthens the competitiveness of the Port of Hamburg
despite the further delay to the dredging of the navi-gation channel of the
river Elbe. The new measures include innovative processes such as the
simultaneous transport of two containers at the Tollerort terminal and
combined loading and discharching to avoid extra moves at the Container
Terminal Altenwerder. At Burchard-kai, HHLA's largest container terminal,
elements of the new operating system continued to be cross-linked and
integrated. Burchardkai is thereby making use of the experience gained at
the highly automated terminal in Altenwerder. Its terminal processes are
managed by a control centre with partially automated storage blocks and
modern tandem gantry cranes, enabling a new dimension of performance.
Key Group figures at a glance (January to September 2012)
- Revenue fell by 7.2 % to EUR 847.2 million following the restructuring of
the Intermodal segment and a change in the consolidation method for two
companies in the fruit business.
- The operating result before depreciation and amortisation (EBITDA) was
8.1 % down on the previous year at EUR 233.8 million.
- The operating result (EBIT) fell by 12.6 % to EUR 143.8 million.
- Profit after tax and minority interests was down by 2.1 % compared to
last year at EUR 64.0 million.
At EUR 826.7 million for the period from January to September 2012, the
revenue generated by HHLA's core business - operated by the listed Port
Logistics subgroup - declined by 7.4 % compared with the same period last
year. The subgroup's operating result (EBIT) fell by 13.7 % to EUR 134.0
million. This meant that the Port Logistics subgroup generated 97.6 % of
Group revenue and 93.2 % of Group EBIT.
Key Figures HHLA Group
in EUR million 1-9 | 2012 1-9 | 2011 ChangeKey Figures Port Logistics Subgroup (listed)
Revenue 847.2 912.5 - 7.2 %
EBITDA 233.8 254.4 - 8.1 %
EBIT 143.8 164.5 - 12.6 %
EBIT margin in % 17.0 18.0 1.0 pp
Profit after tax 88.0 97.3 - 9.5 %
Profit after tax and minority interests 64.0 65.4 - 2.1 %
Container throughput in thousand TEU 5,405 5,305 1.9 %
Container transport1 in thousand TEU 949 1,425 - 33.4 %
30.09.2012 30.09.2011 Change
Equity ratio in % 31.9 34.3 - 2.4 pp
Number of employees 4,832 4,778 1.1 %
in EUR million 1-9 | 2012 1-9 | 2011 Change1 Transport volume was fully consolidated; the year-on-year decline stems
Revenue 826.7 892.7 - 7.4 %
EBITDA 221.0 242.2 - 8.7 %
EBIT 134.0 155.3 - 13.7 %
EBIT margin in % 16.2 17.4 - 1.2 pp
Profit after tax and minority interests 59.6 61.4 - 2.9 %
Earnings per share in EUR 0.85 0.88 - 2.9 %
from the realignment of the segment.
Contact:
Matthias Funk
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: investor-relations(at)hhla.de
End of Corporate News
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Language: English
Company: Hamburger Hafen und Logistik AG
Bei St. Annen 1
20457 Hamburg
Germany
Phone: +49 (0)40-3088-1
Fax: +49 (0)40-3088-3355
E-mail: info(at)hhla.de
Internet: www.hhla.de
ISIN: DE000A0S8488
WKN: A0S848
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Hamburg;
Freiverkehr in Berlin, Düsseldorf, Hannover, München,
Stuttgart
End of News DGAP News-Service
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Datum: 13.11.2012 - 07:30 Uhr
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