DGAP-News: Hamburger Hafen und Logistik AG: HHLA builds on market position with strong growth
(firmenpresse) - DGAP-News: Hamburger Hafen und Logistik AG / Key word(s): Half Year
Results
Hamburger Hafen und Logistik AG: HHLA builds on market position with
strong growth
12.08.2011 / 08:00
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Hamburg, 12 August 2011
Interim report for the first half-year of 2011
HHLA builds on market position with strong growth
- Container throughput up by 29.6 %, container transport by 15.9 %
- HHLA gains market share in the North Range
- Operating result (EBIT) improves by 14.4 %
After strong growth in container throughput and container transport in the
first half of 2011, Hamburger Hafen und Logistik AG (HHLA) is now expecting
revenue and earnings for the full year to increase in the region of 15 %.
Revenue climbed by 18.6 % to EUR 596.0 million in the first half-year. The
operating result EBIT improved by 14.4 % to EUR 93.1 million. Profit after
tax and minority interests showed the fastest growth, rising by 21.7 % to
EUR 34.7 million.
Commenting on the publication of the interim report for January to June
2011, Klaus-Dieter Peters, Chairman of the Executive Board at HHLA, said,
'Performance in the first six months exceeded our expectations to date. If
the latest turbulence on the financial markets does not permanently curb
the previous trends in the global economy, we would expect increases in the
region of 15 % in container transport, revenue and earnings for the full
year. In terms of container throughput we believe that growth of as much as
20 % is within reach.'
Far East and Eastern Europe report rapid growth rates
The Far East shipping region and feeder traffic for Central and Eastern
Europe across the Baltic contributed to successful growth at the HHLA
Container Terminals in Hamburg in the first half of 2011. HHLA's Far
Eastern throughput in Hamburg increased by 32 % to 1.57 million standard
containers (TEU). Baltic Sea traffic with Poland, the Baltic States and the
Russian Federation even improved by 72 % to 0.44 million TEU. This is a
sign that both regions have returned to their former growth rates after a
severe slump during the economic crisis.
Market share gained under difficult conditions
According to the figures currently available from the four large North
Range ports Rotterdam, Hamburg, Antwerp and Bremen(1), it appears that HHLA
was able to extend its market share in container handling substantially in
the first half of 2011. The new mega-ship berths at the HHLA terminals
Burchardkai and Tollerort, as well as Container Terminal Altenwerder, which
was again voted the most high-performance facility in Europe recently
contributed to this gain. The rapid pace of growth together with ever
higher peak loads resulting from expanding vessel sizes nevertheless lead
to great demands on the flexibility and productivity of the terminals. The
situation was also exacerbated by the delay in the dredging of the river
Elbe, which leads to ever tighter restrictions in the time available to
handle mega-ships.
___
(1) H1 2011: Antwerp + 4.4 %, Bremen ports + 25 %; Q1 2011: + 13.7 % on
average for all four ports
At the same time, further progress was made on the modernization and
expansion work underway at all terminals during running operations. This
includes the extension of the new block storage system at Burchardkai and
the introduction of self-service terminals allowing truckers tocheck in
containers easily.
Hinterland transport increase strongly
With an increase of 15.9 % in hinterland transport by road and rail to a
total of 925 thousand standard containers (TEU), the intermodal companies
in the HHLA Group also registered strong growth in the first half of 2011.
This performance stemmed primarily from those companies that have a high
degree of vertical integration and their own inland terminals and can offer
integrated transport chains with highly productive direct rail and shuttle
services.
This successful model is now being rolled out systematically in other
regions. In June 2011, HHLA opened another inland terminal in Ostrava,
Czech Republic, with an annual capacity of up to 200,000 TEU. In Poland,
the centrally located new hub terminal in Poznán will open shortly - a key
requirement for building up shuttle services to Poland.
Pioneer in terms of sustainability
HHLA was given top marks in the first half of 2011 for its commitment to
sustainability. The well-known Fraunhofer working group Supply Chain
Services SCS puts HHLA in the leading group of its redeveloped
sustainability index for the logistics sector. This means HHLA is one of
six leading German logistics providers in terms of its commitment to
sustainability and a pioneer of sustainable logistics. Its sustainability
concept is 'firmly anchored in its strategic orientation and an important
element of its company values'. HHLA's activities in this area 'are leading
to a systematic improvement in the sustainability situation' and are
indicative of 'a high level of innovation'.
Changes in key Group figures at a glance (January to June 2011)
- Revenue increased by 18.6 % to EUR 596.0 million compared with the same
period last year.
- The operating result before depreciation and amortization (EBITDA) was at
EUR 153.2 million, up 13.8 % on the previous year.
- The operating result (EBIT) came in at EUR 93.1 million - a 14.4 %
increase on the previous year's figure.
- Profit after tax and minority interests climbed 21.7 % to EUR 34.7
million.
At EUR 583.0 million for the period from January to June 2011, the revenue
generated by HHLA's core business - operated by the publicly listed Port
Logistics Subgroup - grew by 18.9 % compared to the first half of 2010. The
subgroup's operating result (EBIT) rose 16.4 % to EUR 86.8 million. This
meant that the Port Logistics Subgroup generated 98 % of Group revenue and
93 % of Group EBIT.
Key figures for the HHLA Group
in EUR million 1-6 | 2011 1-6 | 2010 Change
Revenue 596,0 502,6 18,6 %
EBITDA 153,2 134,6 13,8 %
EBIT 93,1 81,4 14,4 %
EBIT margin in % 15,6 16,2 - 0,6 pp
Profit after tax 53,0 44,9 18,2 %
Profit after tax and minority 34,7 28,5 21,7 %
interests
Container throughput in thousand 3.413 2.633 29,6 %
TEU
Container transport in thousand TEU 925 798 15,9 %
30.06.2011 31.12.2010 ChangeKey figures for the Port Logistics Subgroup (publicly listed)
Equity ratio in % 32,9 33,1 - 0,2 pp
Employees 4.720 4.679 0,9 %
in EUR million 1-6 | 2011 1-6 | 2010 ChangeAbout HHLA
Revenue 583,0 490,3 18,9 %
EBITDA 144,9 125,9 15,1 %
EBIT 86,8 74,5 16,4 %
EBIT margin in % 14,9 15,2 - 0,3 pp
Profit after tax and minority 32,1 25,4 26,2 %
interests
Hamburger Hafen und Logistik AG (HHLA) is a leading port logistics group in
Europe. With its Container, Intermodal
and Logistics segments, HHLA is positioned vertically along the transport
chain. Efficient container terminals,
high-capacity transport systems and a full range of logistics services form
a complete network between the overseas
port and its European hinterland.
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
Listed: Regulierter Markt in Frankfurt, Hamburg; Freiverkehr in
Berlin, Düsseldorf, Hannover, München, Stuttgart
End of News DGAP News-Service
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