rss icon Subscribe
desktop mobile

HHLA Group Revenue Up 9.6 %

Aerial view of the area for AGV transporter at HHLA Terminal Altenwerder (CTA). © HHLA / Thies Rätzke

Laxman Pai

German logistics and transportation company Hamburger Hafen und Logistik AG (HHLA) said that it has closed the first half of 2019 with rising revenue and results, despite a challenging market environment.

Container throughput increased moderately, due in particular to the successful integration of the Estonian terminal operator HHLA TK Estonia, which was acquired last year. A significant rise in container transport was achieved, said a press release.

In conjunction with a strong increase in revenue in the Logistics segment and a once again moderate increase in revenue from property management, this led to total revenue of € 693.7 million (+ 9.6 %). The operating result (EBIT) improved strongly by € 14.4 million, or 14.4 %, to € 114.3 million.

Effects from the initial application of the IFRS 16 standard accounted for € 7.1 million of the EBIT increase.

Angela Titzrath, Chairwoman of HHLA's Executive Board: "The results achieved in the first half of the year confirm our expectations of reaching the targets forecast for 2019. However, these results only represent one step in our strategic plan to secure the success of HHLA in the mid- and long-term future.

It goes without saying that, in addition to the continued development of our core business and tapping into further business fields, sustainability and climate protection are integral elements of our business model. We are aware of our responsibility - not only for HHLA's economic development but also towards society - and have already done a lot of work in this area."

Aug 15, 2019

 

People & Company News

THE Alliance Welcomes HMM

Image: Hyundai Merchant Marine

The members of THE Alliance, Hapag-Lloyd, Ocean Network Express, and Yang Ming have welcomed

AEGIR-Marine to Open Middle East Office

AEGIR-Marine has announced a new office in Dubai, UAE. The maritime stern tube seal and propulsion system service provider will now operate out of offices in the Netherlands

Pyxis Tankers Sells MR2 Ship Pyxis Delta

Image: Pyxis Tankers

Greek pure play product tanker company announced that it has completed the sale of the Pyxis Delta

Ports

Port NOLA Sets New Box Record

Image: Port NOLA

Louisiana’s only international container port Port of New Orleans (Port NOLA) moved more

Corpus Christi Crude Exports Boom

© Brent Coulter / Adobe Stock

U.S. crude exports from Corpus Christi, Texas, have surged to a record in recent weeks

Nor-Shipping Appoints Norvik

Sidsel Norvik  (Photo: Nor-Shipping)

Nor-Shipping has appointed Sidsel Norvik to the new role of Commercial Director. Norvik joins

Maritime Apps