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Hamburger Hafen und Logistik AG: HHLA achieves positive result in 2020 despite provision for efficiency programme

·3-min read

Hamburger Hafen und Logistik AG / Key word(s): Preliminary Results
Hamburger Hafen und Logistik AG: HHLA achieves positive result in 2020 despite provision for efficiency programme

10-Feb-2021 / 11:57 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Hamburg, 10 February 2021

Hamburger Hafen und Logistik Aktiengesellschaft
Disclosure of an inside information in acc. to Article 17 of the Market Abuse Regulation

HHLA achieves positive result in 2020 despite provision for efficiency programme

According to preliminary unaudited figures, Hamburger Hafen und Logistik AG (HHLA) achieved a positive Group operating result (EBIT) of approximately € 123 million in the 2020 financial year (previous year: € 221 million). First of all, the operating result was affected by restrictions on business due to the efforts to combat the coronavirus pandemic. Additionally, a provision of approximately € 43 million was set aside in the fourth quarter of 2020. The provision is associated with the implementation of restructuring as part of an efficiency programme in the Container segment. Without accounting for this provision, the Group EBIT would be approximately € 166 million. In the past financial year, Group revenue amounted to approximately € 1.30 billion (previous year: € 1.38 billion).

In the listed Port Logistics subgroup, revenue in the past financial year amounted to € 1.27 billion (previous year: € 1.35 billion). Taking into account the aforementioned provision, the subgroup generated an operating result (EBIT) of approximately € 110 million (previous year: € 204 million). Adjusted for the provision, the EBIT amounts to approximately € 153 million. The marked decrease in EBIT by 46.1 percent, or 24.9 percent prior to the provision, is largely due to decreases in volume as a result of the pandemic and changes in the market share. Thus, throughput volume in the Container segment decreased by 10.6 percent to 6,776 thousand standard containers (TEU) (previous year: 7,577 thousand TEU). Container transport in the Intermodal segment was slightly down on the previous year at 1,536 thousand TEU (previous year: 1,565 thousand TEU).

The Executive Board intends to propose a dividend to the Supervisory Board and Annual General Meeting of 50 to 70 percent of the result for the Port Logistics subgroup based on the previously communicated payout ratio.

HHLA will publish complete figures for the 2020 financial year and a business forecast for the current financial year at 7.30 a.m. on Thursday, 25 March 2021.

EBIT is defined as earnings before interest and taxes. For more detailed information, please click here.



Contact:
Julia Hartmann
Head of 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@hhla.de

10-Feb-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Hamburger Hafen und Logistik AG

Bei St. Annen 1

20457 Hamburg

Germany

Phone:

+49 (0)40-3088-0

Fax:

+49 (0)40-3088-3355

E-mail:

info@hhla.de

Internet:

www.hhla.de

ISIN:

DE000A0S8488

WKN:

A0S848

Indices:

SDAX

Listed:

Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Hanover, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1166714


 

End of Announcement

DGAP News Service

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