HHLA records solid growth in an uncertain environment – tax-related one-off effects weigh heavily on net profit
According to preliminary, unaudited figures, Hamburger
Hafen und Logistik AG (HHLA) increased its Group revenue by 9.9 percent to €
1,756 million in the 2025 financial year (previous year: € 1,598 million).
Group operating result (EBIT) rose by 19.5 percent to € 161
million (previous year: € 134 million). Heavily burdened by tax-related one-off
effects, Group profit after tax and minority interests amounted to € 10 million
(previous year: € 33 million), of which € 1 million was attributable to the
Port Logistics subgroup. Against this background, the Executive Board will
propose to the Annual General Meeting that no dividend be distributed for the
class A share for the 2025 financial year. Group container throughput at the seaports
increased by 5.4 percent to 6,295 thousand standard containers (TEU) (previous
year: 5,970 thousand TEU). Transport volume in the Intermodal segment increased
by 10.9 percent to 1,982 thousand TEU (previous year: 1,787 thousand TEU).
Jeroen
Eijsink, CEO of HHLA: „In the 2025 financial year, HHLA achieved
solid growth both in container handling at the container terminals and in
container transport by rail and road – and this in an extremely challenging
market environment. At the same time, our results also demonstrate how
important it is to continue working on optimizing our processes in order to
strengthen HHLA’s overall performance.“
In the listed Port
Logistics subgroup, revenue increased by 10.1 percent to € 1,719 million
(previous year: € 1,562 million). Operating result (EBIT) rose year-on-year by
22.8 percent to € 145 million (previous year: € 118 million). Overall,
operating business development in 2025 was characterized by positive volume
growth in handling and transport. Despite a slowdown in the second half of the
year due to increasing global economic uncertainties and ongoing supply chain
disruptions, as well as extensive modernisation measures to automate the
Hamburg port facilities while operations continued, the business developed in
an overall stable manner. By contrast, profit after tax and minority interests
was heavily impacted by tax-related one-off effects – primarily impairments of
deferred tax assets – and amounted to € 1 million (previous year: € 23
million). This corresponds to earnings per class A share of € 0.02 (previous
year: € 0.32).
While revenue in the Real
Estate subgroup remained at the previous year’s level at € 46 million,
operating result (EBIT) declined by 4.4 percent to € 15 million (previous year:
€ 16 million). This was attributable to high one-off expenses for non-operating
services in the third quarter, which could not be fully offset by the effects
of increased rental income and reduced maintenance costs. Profit after tax and
minority interests accordingly amounted to € 9 million (previous year: € 10
million). This corresponds to earnings per class S share of € 3.20 (previous
year: € 3.52).
The Annual Report with audited figures for the 2025
financial year will be published at 7.30 a.m. on Thursday, 26 March 2026.
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