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Hamburg saw box boom, and reaps 48pc H1 profit hike to US$115 million
HAMBURG's Hamburger Hafen und Logistik (HHLA), which handles two thirds of the containers in that port, increased its first half operating profit 48 per cent year on year to EUR98.8 million (US$115.5 million), drawn on revenues of EUR622.8 million, which were up eight per cent.
Revenue from containers increased 10.6 per cent to EUR372.3 year on year. At 25.8 per cent, growth in the operating profit outperformed the rise in box volumes, taking it to EUR68.1 million.
The HHLA Port Logistics subgroup's first half operating profit was up 54 per cent year oh year to EUR90.6 million, attributable to higher earnings in the container segment through increased volumes and the absence of a one-off restructuring expense endured in the first half of 2016.
Throughput at the port's three HHLA container terminals stood at 3.6 million TEU - 12 per cent higher year on year. Intermodal subsidiaries of the 70 per cent state-owned port operator also achieved seven per cent growth to 744,000 TEU.
Said HHLA chairwoman Angela Titzrath: "Following the reorganisation of the alliances of the shipping companies, HHLA managed to maintain its strong position in contested market environments.
We are not just benefiting from ongoing positive economic developments in the world and in Germany; we are also profiting from our own service capability.
HHLA took timely steps to prepare for this upswing by making targeted investments in our facilities. This means we can offer customers a range of services that offer a high level of quality and reliability, and thus generate growth at the Port of Hamburg with them," she said.
Revenue from containers increased 10.6 per cent to EUR372.3 year on year. At 25.8 per cent, growth in the operating profit outperformed the rise in box volumes, taking it to EUR68.1 million.
The HHLA Port Logistics subgroup's first half operating profit was up 54 per cent year oh year to EUR90.6 million, attributable to higher earnings in the container segment through increased volumes and the absence of a one-off restructuring expense endured in the first half of 2016.
Throughput at the port's three HHLA container terminals stood at 3.6 million TEU - 12 per cent higher year on year. Intermodal subsidiaries of the 70 per cent state-owned port operator also achieved seven per cent growth to 744,000 TEU.
Said HHLA chairwoman Angela Titzrath: "Following the reorganisation of the alliances of the shipping companies, HHLA managed to maintain its strong position in contested market environments.
We are not just benefiting from ongoing positive economic developments in the world and in Germany; we are also profiting from our own service capability.
HHLA took timely steps to prepare for this upswing by making targeted investments in our facilities. This means we can offer customers a range of services that offer a high level of quality and reliability, and thus generate growth at the Port of Hamburg with them," she said.
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