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Still without MSC – HHLA suffers heavy losses

Caption: Angela Titzrath has been President of the ZDS since 2022 © ZDS

In what is presumably its last year without its major shareholder MSC, HHLA suffered heavy losses in all key business figures.

Group revenue fell by 8.3% to just under € 1.45 billion(previous year: € 1,58 million). This was primarily due to the renewed decline in container volumes. Handling fell by 7.5% to 5.9 million TEU (2022: 6.4 million TEU), while hinterland transport by the successful rail subsidiary Metrans was down 5.4% at 1.6 million TEU. [ds_preview]

HHLA continues to lose ground in container throughput

At € 109 million, the Group operating result (EBIT) halved compared to 2022, while the net profit for the year even fell by around 75% to € 20 million (previous year: € 93 million). The war in Ukraine, geopolitical tensions, high inflation and rising interest rates have had a severe impact on the entire logistics industry and HHLA’s business, says Angela Titzrath, Chairwoman of HHLA’s Executive Board.

In the previously still listed Port Logistics subgroup, revenue fell by 8.6% to € 1.4 billion (previous year: € 1.54 billion). The operating result (EBIT) fell by 53.9% to € 93 million. A minimal net profit of € 9 million was reported, compared to € 82 million in the previous year.

Although shareholders are to receive a dividend, this will be very low at € 0.08 per Class A share. HHLA intends to present its audited annual report at the end of March.

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