With a 10.5% increase in revenues and a 22.7% rise in operating profit (Ebit), Hamburger Hafen und Logistik strengthened its position in 2024 as a pan-European network logistics provider. The company's strategy focused on targeted investments to enhance the intermodal rail network and modernise container terminals, particularly in Hamburg.
Total container throughput at Hhla’s port terminals rose by 0.9% in 2024, reaching 5.97 million teu. Volumes in Hamburg remained stable, while the company recorded a clear increase in trade with North and South America, especially the United States, alongside a decline in flows with the Middle and Far East. Trade volumes with European ports such as Belgium and Greece increased, partly due to route diversions caused by the conflict in the Red Sea. Feeder traffic saw moderate growth, with a marked rise in shipments from Germany, Poland, Latvia and the United Kingdom, while volumes from Finland and Denmark declined. The share of maritime transport via feeder services rose to 19.4%.
On the international front, Hhla’s non-German terminals saw a 23.1% increase in volumes handled, reaching 284,000 teu. Particularly significant was the resumption of maritime activity at the Odessa Container Terminal in Ukraine from the third quarter of 2024, which offset reduced traffic at the Plt Italy terminal in Trieste, affected by the consequences of the Red Sea conflict.
In the Intermodal segment, container transport rose overall by 11.6%, driven in particular by rail transport, which grew by 13.2%. Expansion in German-speaking countries offset challenges in connections with the Adriatic and a slowdown in traffic with Poland. The acquisition of a majority stake in the Austrian company Roland Spedition also contributed to this growth. Road transport rose more modestly, by 2.2%. Overall, revenues in this segment increased by 14.6% to 711.3 million euros, with Ebit up 14.8%.
The listed Port Logistics subgroup reported revenues of 1,561.7 million euros, up 10.8% compared to 2023, and an Ebit of 117.8 million euros, a 26.8% increase. Net profit after taxes and minority interests more than doubled, reaching 23 million euros. Among the positive contributors were the increase in intermodal transport volumes and higher storage revenues at Hamburg terminals, due to longer container dwell times.
Hhla’s property activities in the Speicherstadt district and the Hamburg fish market area maintained high occupancy levels. However, revenue fell slightly by 0.8% due to the demolition of buildings in the fish market zone ahead of a redevelopment project. Ebit remained stable at 16.1 million euros.
Looking ahead to 2025, Hhla expects a marked rise in volumes both in port handling and intermodal transport, with revenues and operating margins set to grow across all segments of Port Logistics. Forecasts point to an EbitT ranging from 180 to 220 million euros, while the group’s expected operating result is estimated between 195 and 235 million euros. Planned investments for the year are set between 460 and 510 million euros, with almost all of that allocated to the port logistics segment.
