DGAP-News: Hamburger Hafen und Logistik AG: Strong growth while risks increase
(firmenpresse) - DGAP-News: Hamburger Hafen und Logistik AG / Key word(s): Quarter
Results
Hamburger Hafen und Logistik AG: Strong growth while risks increase
11.11.2011 / 08:00
---------------------------------------------------------------------
HHLA Interim Report January to September 2011
Strong growth while risks increase
l Container throughput up by 24.8 %, container transport by 13.0 %
l HHLA gains market share in the North Range
l Operating result (EBIT) improves by 16.2 %
l Economic slowdown increases earnings risks
Hamburger Hafen und Logistik AG (HHLA) experienced strong growth in the
first nine months of 2011 and with it further expanded its market
positions. Revenue rose by 15.8 % to EUR 912.5 million, while the operating
result (EBIT) improved by 16.2 % to EUR 164.5 million. HHLA now anticipates
EBIT in the region of EUR 210 million for the full year 2011. However,
increased earnings risks could potentially reduce the figure by a low
double-digit sum.
'We have achieved strong growth in both revenue and earnings. This is a
remarkable accomplish- ment given the global economic downturn, more
demanding requirements in maritime logistics and the ongoing delay in
dredging the river Elbe's navigation channel,' said Klaus-Dieter Peters,
Chairman of the Executive Board at HHLA. The Group's immediate market
environment is also suffering as a result of the strained earnings
situation in container shipping and the creation of excess capacity at the
North Range terminals.
Dynamic volume trends in throughput and transport
In this difficult climate, container throughput increased by 24.8 %
compared with the previous year to 5.3 million standard containers (TEU) in
the first three quarters of 2011. Container transport to the hinterland
grew by 13.0 % to 1.4 million TEU. Container throughput at HHLA's terminals
was driven by a persistently dynamic increase in Far East traffic (+24.7 %)
and strong growth in container traffic to the Baltic region (Poland, Baltic
states and Russia). They were up 59.1 %. The North America shipping region
also experienced impressive growth (+41.4 %). Among other, HHLA benefited
from a relocation of liner services from Bremerhaven to Hamburg.
'The sharp rise in our throughput and transport volumes is not least
attributable to considerable investment, operating and sales activities,'
commented Peters. HHLA also succeeded in further expanding its market
position in the North Range, despite the challenging economic environment.1
Forecast for the full-year result 2011
HHLA forecasts Group revenue in the region of EUR 1.2 billion and an
operating result in the region of EUR 210 million for the full year 2011.
However, given the current economic slowdown, impairments with respect to
German intermodal traffic and fruit logistics can no longer be ruled out.
Should an adjustment be made, EBIT would be expected in the region of EUR
200 million.
1 Container throughput in the first three quarters of 2011: +7.7 % in
Rotterdam, +3.1 % in Antwerp
In container throughput, HHLA now anticipates growth at the upper end of
the forecast range (15 to 20 %). Meanwhile, the percentage growth in
container transport is expected in the middle of the predicted range of 10
to 15 %.
Development of key Group figures at a glance (January to September 2011)
- Revenue rose by 15.8 % compared with the same period last year to EUR
912.5 million
- The operating result before depreciation and amortization (EBITDA) was
up 14.3 % on the previous year at EUR 254.4 million
- The operating result (EBIT) came in at EUR 164.5 million - a 16.2 %
increase on the previous year's figure
- Profit after tax and minority interests climbed 17.9 % to EUR 65.4
million
At EUR 892.7 million for the period from January to September 2011, the
revenue generated by
HHLA's core business - operated by the publicly listed Port Logistics
subgroup - grew
by 16.0 % compared with 2010. The subgroup's operating result (EBIT) rose
18.3 % to EUR 155.3 million. This meant that the Port Logistics subgroup
generated 98 % of Group revenue and95 % of Group EBIT.
Key figures for the HHLA Group
in EUR million 1-9|2011 1-9|2010 ChangeAbout HHLA
Revenue 912.5 788.1 15.8 %
EBITDA 254.4 222.6 14.3 %
EBIT 164.5 141.5 16.2 %
EBIT margin in % 18.0 18.0 0.0 pp
Profit after tax 97.3 82.1 18.5 %
Profit after tax and minority interests 65.4 55.5 17.9 %
Container throughput in thousand TEU 5,305 4,252 24.8 %
Container transport in thousand TEU 1,425 1,261 13.0 %
30.09.2011 31.12.2010 Change
Equity ratio in % 34.3 33.1 1.2 pp
Employees 4,778 4,679 2.1 %
Key figures for the Port Logistics Subgroup
(publicly listed)in EUR million 1-9|2011 1-9|2010 Change
Revenue 892.7 769.3 16.0 %
EBITDA 242.2 209.5 15.6 %
EBIT 155.3 131.3 18.3 %
EBIT margin in % 17.4 17.1 0.3 pp
Profit after tax and minority interests 61.4 50.8 20.7 %
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
---------------------------------------------------------------------
11.11.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
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
---------------------------------------------------------------------
145721 11.11.2011
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 11.11.2011 - 08:00 Uhr
Sprache: Deutsch
News-ID 86852
Anzahl Zeichen: 5343
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 256 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Hamburger Hafen und Logistik AG: Strong growth while risks increase"
steht unter der journalistisch-redaktionellen Verantwortung von
Hamburger Hafen und Logistik AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
