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Supply chain disruption boosts HHLA first-half figures

Photo: HHLA / Thies Rätzke 150923_Raetzke_METRANS_CESKA_TREBOVA_0520_1 (002).jpg
High storage fees resulting from shipping delays and a 16% increase in container transport, much of it by rail, have contributed to higher first-half figures at Hamburger Hafen und Logistik AG (HHLA).

Total revenue was up 12.8% to €709.2m and earnings before interest and tax (EBIT) increased by 63.2% year-on-year, to €90.5m.

The favourable figures have prompted the terminal operator to raise its full-year forecast, now predicting ‘a significant increase’ in revenue, rather than its earlier ‘moderate’ forecast. Full-year EBIT is now likely to lie in the €153m to €178m range, HHLA said.

The company’s Executive Board Chairwoman, Angela Titzrath, commented: “Global supply chains have been disturbed as a result of the coronavirus pandemic as well as singular events such as the recent one in the Suez Canal. This has resulted in massive shipping delays to which we terminal operators must adapt. However, we are conscious of our responsibility for the steady supply for consumers and companies in Germany and Europe.

“We are therefore undertaking great efforts to ensure reliable handling at our facilities and fast onward transport of containers,” she continued “The fact that we once again achieved a positive operating result in the first half-year of 2021 despite challenging conditions is an expression of the strength of HHLA and of its ability to successfully adapt to current challenges.”

 

TAGS: Europe