Based on preliminary, unaudited figures for the first nine months, the German port and terminal operator Hamburger Hafen und Logistik AG (HHLA) has revised its forecast for the 2024 financial year upwards.
Despite global challenges, including economic weakness in Germany, the military conflict in the Middle East affecting shipping routes, and the war in Ukraine, HHLA achieved positive business results in the first nine months of the year.
This performance was largely driven by a robust increase in transport volumes and strong revenue and earnings in the third quarter within the company’s Port Logistics subgroup.
As a result, HHLA now expects a slight year-on-year increase in container throughput for the Port Logistics subgroup in the full year, an adjustment from the previously anticipated moderate increase.
Container transport, meanwhile, is projected to see a substantial year-on-year growth, while revenue is now expected to experience strong growth (previously forecasted as significant growth), primarily driven by increased revenue from rail transport.
Additionally, higher revenue levels due to temporarily extended container dwell times at Hamburg terminals have led to an increase in the forecasted operating result (EBIT), now estimated to be between US$118 million and US$140 million (up from the previous range of US$75 million to US$108 million).
Also, within this revised range, both the Container and Intermodal segments are anticipated to see strong year-on-year increases in their respective EBIT results.
