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  • Writer's pictureFirst Port Global (FPG)

HHLA reports 2.2% uptick to 1.865M TEU

Hamburg-based HHLA saw its combined container handlings increase by 2.2% to 1,865,000 TEU in the first quarter of 2019 when compared with the same period of 2018

Its three Hamburg terminals actually dropped slightly, by 1.3%, to 1,722,000 TEU, while throughput at its facilities in Odessa and Tallinn improved by 76% to 143,000 TEU. HHLA took control of the latter facility in Q2 2018.

HHLA says that in a challenging market environment, revenue and the operating result rose strongly in the first three months along with further improvements in profitability. Extremely positive performance in container transport and property management led to a revenue of €347.6M (+ 10.3 %).

EBIT was far above the level of last year, increasing by € 11.8M or 24.5% to € 59.7M. Effects from the initial application of the IFRS 16 standard resulted in an increase of €3.5M.

Angela Titzrath, Chairwoman of HHLA’s Executive Board, said: “The results attained in the first quarter provide a firm basis for us to reach our guidance for the year. We are therefore intensifying our efforts to systematically implement our strategy, which is focused on strengthening our creative power and future viability.

"Our customers measure us by our ability to live up to our performance promise. As a result, we constantly strive to achieve further improvements in our productivity, quality and reliability.”

Last week, Evergreen’s TAURUS, a 14,424 TEU, became the first ship in OCEAN Alliance’s new Asia service Loop 7 to call in Hamburg. This service is part of the new Day 3 Product, with which the Alliance (CMA CGM, Cosco, Evergreen, OOCL) is entering its third year. Six of the seven OCEAN Alliance Asia-North Europe services call at Hamburg.

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