HHLA Container Terminal Altenwerder at Port of Hamburg

For the initial nine months of the year, based on unaudited and preliminary data, Hamburger Hafen und Logistik AG (HHLA), the German port and terminal management company, has upgraded its financial outlook for 2024.

In the face of worldwide difficulties, such as the economic downturn in Germany, the impact of the Middle Eastern military conflict on shipping lanes, and the ongoing conflict in Ukraine, HHLA has nonetheless posted favorable business outcomes in the year’s first three quarters.

The company’s strong performance in the Port Logistics division during the third quarter, characterized by a significant rise in transport volumes and robust revenue and profits, was the primary catalyst for this achievement.

Consequently, HHLA is now anticipating a modest annual uptick in container handling for the Port Logistics division for the entire year, a revision from the earlier expected moderate growth.

Container transportation is forecast to experience considerable year-over-year expansion, and revenue is now predicted to see robust growth (as opposed to the previously predicted significant growth), mainly fueled by increased earnings from rail logistics.

Moreover, the elevated revenue stemming from the temporary extension of container storage times at Hamburg’s terminals has contributed to a boost in the projected operating profit (EBIT), which is now forecast to fall between $118 million and $140 million (an increase from the earlier projection of $75 million to $108 million).

Furthermore, within this updated forecast, both the Container and Intermodal business segments are expected to record notable year-on-year growth in their respective EBIT figures.