Hamburger Hafen und Logistik AG (HHLA) has announced increased revenue and earnings in the first half of 2022.
The company benefited from the further increase in storage charges in the container sector resulting from significantly longer dwell times for containers at HHLA’s facilities, as well as from further increases in the share of rail in HHLA’s total intermodal transport.
HHLA Group’s revenue increased year-on-year by 9.9% to US$804.73 million, operating result (EBIT) grew by 11.9% to US$104,58 and profit after taxes and minority interests increased by 13.1% to US$45,32 (€43.9 million).
“For more than two years now, we have all experienced how volatile the logistics sector is. The restrictions in place to fight the coronavirus pandemic, weather conditions, road and rail construction work and now the war in Ukraine with the subsequent sanctions against Russia have a massive impact on global supply chains,” commented Angela Titzrath, president of the HHLA executive board.
“HHLA may have successfully completed the first half of 2022, but the disruptions to supply chains still continue to pose major operational challenges for us. It is not currently clear when this situation will return to normality or what consequences the global crisis will have for the economy and for society,” she added.
The Port Logistics subgroup posted a 9.6% rise in revenue, which reached US$786,56 in the first half, while its operating result (EBIT) increased by 9.4% to US$94,67 million.
Meanwhile, HHLA reported that 3,368,000 TEUs were handled by HHLA terminals during the first six months of the year, a figure that remained stable compared to 2021 first half.
In the intermodal segment, container shipments increased overall by 2.2% to 851,000 TEU, while the rail traffic increased 4.6% year-on-year to 709,000 TEU, according to HHLA’s statement.
However, HHLA’s expectations for container traffic as well as profit expectations in the intermodal segment gradually declined.
Against the backdrop of continued disruptions in international supply chains, container handling in the port logistics subgroup is expected to be on par with the previous year’s figures, according to the German terminal operator, which also believes that it will achieve a modest year-on-year increase in container traffic.
