German logistics and transportation company Hamburger Hafen und Logistik AG (HHLA) said that it has closed the first half of 2019 with rising revenue and results, despite a challenging market environment.
Container throughput increased moderately, due in particular to the successful integration of the Estonian terminal operator HHLA TK Estonia, which was acquired last year. A significant rise in container transport was achieved, said a press release.
In conjunction with a strong increase in revenue in the Logistics segment and a once again moderate increase in revenue from property management, this led to total revenue of € 693.7 million (+ 9.6 %). The operating result (EBIT) improved strongly by € 14.4 million, or 14.4 %, to € 114.3 million.
Effects from the initial application of the IFRS 16 standard accounted for € 7.1 million of the EBIT increase.
Angela Titzrath, Chairwoman of HHLA’s Executive Board: “The results achieved in the first half of the year confirm our expectations of reaching the targets forecast for 2019. However, these results only represent one step in our strategic plan to secure the success of HHLA in the mid- and long-term future.
It goes without saying that, in addition to the continued development of our core business and tapping into further business fields, sustainability and climate protection are integral elements of our business model. We are aware of our responsibility – not only for HHLA’s economic development but also towards society – and have already done a lot of work in this area.”