Hamburg terminal operator HHLA has drawn up a mixed balance sheet for 2025. As announced earlier, there will be no dividend. Container throughput and revenue are expected to increase significantly in the current year.
For the 2025 financial year, “despite economic burdens, geopolitical tensions and uncertainties in US trade policy, a positive business development” was recorded, as HHLA announced today. The figures that were communicated around a month ago were confirmed and substantiated.
Group revenue rose by 9.9% to € 1,756.2 million, while the operating result (EBIT) increased by 19.5% to € 160.5 million. In contrast, net profit after minority interests fell from € 32.5 million to € 9.8 million. This was due to “one-off tax effects”: “essentially value adjustments on deferred tax assets”.
Group-wide container throughput increased by 5.4% year-on-year to 6.295 million TEU. The transport volume in the Intermodal segment increased by 10.9% to 1.982 million TEU. In view of the developments in net profit, the Executive Board and Supervisory Board intend to propose to the Annual General Meeting that no dividend be distributed for either the listed A share or the non-listed S share for the 2025 financial year.
The new CEO Jeroen Eijsink said: “Even in a challenging market environment, we were able to achieve operational growth in 2025. In 2026, we will work consistently to continue this development. We focus on reliability, efficiency and sustainability and offer our customers an integrated range of services – from the seaport terminals to deep into the European hinterland. By continuing to automate our facilities, we are increasing efficiency and at the same time strengthening sustainable processes in order to further increase HHLA’s performance.”
Those responsible have a positive outlook for the future:
- For the current financial year, the Port Logistics subgroup is expecting a “significant increase” in container throughput and a “strong increase” in container transportation compared to the previous year.
- A “strong increase” is expected for revenue compared to 2025.
- An operating result (EBIT) in the range of € 160 million to € 180 million is targeted for the Port Logistics subgroup.
- At Group level, a strong increase in revenue and an operating result (EBIT) in the range of € 175 million to € 195 million is expected.
- For 2026, investments at Group level are expected to be in the range of € 430 million to € 480 million. The Port Logistics subgroup will account for € 400 million to € 450 million of this amount.
The individual divisions of HHLA
- In the listed Port Logistics subgroup, revenue increased by 10.1% to € 1.718.8 billion. The operating result (EBIT) increased by 22.8% to € 144.7 million. According to the information provided, operating business development was “characterized overall by a positive volume trend in handling and transport, which remained stable despite a slowdown in the second half of the year due to increasing global economic uncertainties and ongoing supply chain disruptions, combined with extensive conversion measures to automate the Hamburg facilities during ongoing operations”.
- Handling at the Hamburg container terminals increased by 4.8% to 5.956 million TEU. While the volumes of overseas traffic with the North America trade lane fell sharply, handling volumes in the Far East trade lanes – especially China – as well as South America, Africa, Australia and the Middle East increased. Significantly higher cargo volumes were also achieved in traffic with other European deep-sea ports, particularly from the United Kingdom, Belgium, Spain and the Netherlands. This was due to continued route shifts as a result of the military conflict in the Red Sea.
- Feeder traffic volumes increased significantly compared to the same period last year. In addition to the sharp rise in Finnish traffic, container throughput with Poland and other German ports recorded a strong increase. In contrast, cargo volumes from Estonia, Latvia and the United Kingdom developed in the opposite direction. The feeder share of waterside handling was 19.6% (previous year: 19.4%).
- Meanwhile, the international container terminals recorded an increase in handling volumes of 19.2% to 339,000 TEU. In addition to planned volume growth at HHLA PLT Italy, this is attributable to the limited resumption of waterside handling at Container Terminal Odessa (CTO) since the third quarter of 2024. In 2024, operations were completely suspended in the first half of the year. By contrast, waterside handling volumes at the multifunctional terminal HHLA TK Estonia decreased “slightly”, according to the official statement. The segment’s revenue increased by 9% to € 843.2 million in the financial year. This was mainly due to higher handling volumes and favorable shifts in the modal split.
- In the Intermodal segment, container transportation increased by 10.9% overall to 1.982 million TEU. Rail transportation increased by 11.2% year-on-year to 1.719 million TEU. “Traffic with the northern German seaports and traffic in the German-speaking region in particular contributed to the strong increase in volumes,” writes HHLA.
