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HHLA Reports 8.3% Growth in Revenue

Pic: © HHLA / Thies Rätzke

Shailaja A. Lakshmi

Hamburger Hafen und Logistik AG, HHLA, the company that operates three out of four of Hamburg's container terminals, continued its positive performance in the first nine months of 2019.

The total revenue was 1.04 billion euros, an increase of 8.3 percent, said the German logistics and transportation company.

The operating result (EBIT) improved strongly by € 19.3 million, or 12.4 percent, to € 175.4 million. The positive effects of the initial application of IFRS 16 in the EBIT amounted to approximately € 10.6 million.

Container throughput increased moderately due to the successful integration of the Estonian terminal operator HHLA TK Estonia, which was acquired last year, and improved slightly at the Hamburg terminals.

Angela Titzrath, Chairwoman of HHLA's Executive Board said: "As encouraging as our business trend is this year, we must still keep a realistic view of the changing conditions in which we operate. The challenges facing the entire transport and logistics industry remain significant."

Titzrath added: "We are approaching these challenges with confidence and vigour and are continuing to work towards our aim and mission of making HHLA ready for the future. This means that we will strengthen our core business and tap into new, highly promising sectors."

Nov 13, 2019

 

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