The German logistics group Hamburger Hafen und Logistik AG (HHLA) forecasts a year-on-year increase of more than 84% in its earnings before interest and taxes (EBIT) for 2021, which translates to almost US$260 million, according to the group’s preliminary unaudited figures.
Furthermore, HHLA estimates that its revenue for 2021 will total US$1.66 billion (€1.46 billion), which reflects a growth of 12.7% over the previous year.
As for the group’s container throughput, it is expected to have an increase of 2.5% to 6,943,000 TEU, while transport volumes will also be increased by 10% to 1.69 million TEU, according to preliminary unaudited figures.
“HHLA closed its second year in a row under the challenging conditions of the coronavirus pandemic with a positive operating result,” noted Angela Titzrath, chairwoman of HHLA’s executive board.
Meanwhile, the listed Port Logistics subgroup, made up of the container, intermodal and logistics segments, generated revenue of US$1.63 million (€1.43 billion) and an operating result (EBIT) of US$242.7 million (€213 million), which was influenced by additions to provisions amounting to US$49 million (€43 million).
The group said in a statement that this development was mainly driven by higher storage charges, as a result of the disruptions to global supply chains and ship delays, which led to longer container dwell times and additional container handling at HHLA’s terminals.
In addition, a higher subsidy for route prices of approximately US$12.5 million (€11 million), granted retroactively, made a positive contribution to the Port Logistics subgroup’s earnings.
“Once again, HHLA proved to be a stable and efficient hub along the global supply chains that can ensure the reliable supply of companies and consumers in Germany and Europe,” claimed Titzrath.
HHLA confirmed that the official figures for 2021 will be published on 24 March.
