Hamburger Hafen und Logistik : Präsentation

Analyst conference call on the interim results January to March 2023

Hamburg, 15 May 2023

© Hamburger Hafen und Logistik AG

Content

01 At a glance

Angela Titzrath, CEO

02 Financial performance 1-3│2023

Tanja Dreilich, CFO

03 Guidance 2023

Angela Titzrath, CEO

04 Questions & answers

Angela Titzrath, CEO

Tanja Dreilich, CFO

15.05.2023 Analyst conference on the interim results January to March 2023

© Hamburger Hafen und Logistik AG

Disclaimer

The facts and information contained herein are as up to date as is reasonably possible and are subject to revision in the future. Neither the Company nor any of its parent or subsidiary undertakings nor any of such person's directors, officers, employees or advisors nor any other person makes any representation or warranty, express or implied as to, and no reliance should be placed on, the accuracy or completeness of the information contained in this presentation. Neither the Company, nor any of its parent or subsidiary undertakings nor any of their directors, employees and advisors nor any other person shall have any liability whatsoever for loss howsoever arising, directly or indirectly, from any use of this presentation. The same applies to information contained in other material made available at the presentation.

While all reasonable care has been taken to ensure that the facts stated herein are accurate and that the opinions contained herein are fair and reasonable, this document is selective in nature. Where any information and statistics are quoted from any external source, such information or statistics should not be interpreted as having been adopted or endorsed by the Company as being accurate.

This presentation contains forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which the Company operates. These statements generally are identified by words such as "believes", "expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "foresees", "anticipates", "targets" and similar expressions. The forward-looking statements, including but not limited to assumptions, opinions and views of the Company for information from third party sources, contained in this presentation are based on current plans, estimates, assumptions and projections and involve uncertainties and risks. Various factors could cause actual future results, performance or events to differ materially from those described in these statements. The Company does not represent or guarantee that the assumptions underlying such forward-looking statements are free from errors and the Company does not accept any responsibility for the future accuracy of the opinions expressed in this presentation. No obligation is assumed to update any forward-looking statements.

By accepting this presentation you acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the Company's business.

This presentation is not a prospectus and does not constitute an offer or an invitation or solicitation to subscribe for, or purchase, any shares of the Company and neither this presentation nor anything contained herein shall form the basis of, or be relied on in connection with, any offer or commitment whatsoever.

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At a glance

HHLA faced challenging market environment in the first months of 2023

Market environment

Port Logistics subgroup

1 - 3 │ 2023

• Ongoing geopolitical tensions, economic sanctions against Russia and economic slowdown led to strong decline in container trade volumes
• Congestions released and container dwell times in the ports reached a more normalized level

Major achievements

• Efficiency programme: automation of block storage & development of AGV area continued
• German government finally approves CSPL's minority stake in CTT
• CTO (Ukraine) still operational: hinterland transportation running as well as some top-up loading activities for grain vessels
• Metrans expands rail network to South-Eastern Europe

Financial performance

• Container throughput down strongly; container transport decreased moderately
• Revenue and EBIT impacted by drop in volumes and decline in storage fees
• ROCE of 3.5 % well below medium- and long-term target of 8.5 %

Throughput

1,416 k TEU

• 18.6 %

Revenue

• 355.1 m
• • 5.9 %

EBIT margin

5.2 %

• 7.8 pp

ROCE

3.5 %

• 6.1 pp

Transport

408 k TEU

• 5.4 %

EBIT

• 18.5 m
• 62.5 %

Profit after tax and minorities

• 0.4 m
• 98.2 %

Operating cash flow

• 71.8 m
• 13.6 %

15.05.2023

Analyst conference on the interim results January to March 2023

3

© Hamburger Hafen und Logistik AG

Performance

Revenue and EBIT burdened by drop in volumes and decline of storage fees

Throughput declined mainly due to weak Chinese volumes and closure of CTO

Container

Container throughput	Revenue
in thousand TEU	in € million
		-18.6%						-18.8%
1,740					216.4
1,416
	175.8

1Q22

1Q23

1Q22

1Q23

OpEx			EBIT and EBIT margin
in € million			in € million
	-4.8%					-84.9%
178.7	170.1	37.8

		17.4%	5.7	3.2%
1Q22	1Q23	1Q22	1Q23

• Overall container throughput declined by 18.6%
• • Hamburg volumes down 15.9 %; mainly due to volume decrease in the Far East shipping region (esp. China)
  • Feeder ratio declined moderately to 18.1 % (previous year: 21.2 %) due to lower transhipment volumes from / to Russia, Poland and Sweden
  • Internationals down 53.9 % due to closure of Container terminal in Odessa (Ukraine)
• While total revenue declined due to lower volumes and reduced average storage fees, average revenue per TEU remained stable
• OpEx decrease of 4.8 % mainly attributable to
• • lower personnel expenses due to drop in volumes and closure of CTO
  • reversal of provisions for ship delays
  • disproportionately lower reduction of energy expenses compared to volume development as well as increased operational costs for PLT Italy had an opposing effect
• EBIT down strongly despite positive contribution from Tallinn and Trieste

15.05.2023

Analyst conference on the interim results January to March 2023

4

© Hamburger Hafen und Logistik AG

Performance

Economic slowdown led to moderate decline in rail and road transport

Operational performance burdened by lower transport volumes whilst rise in energy costs could be offset

Intermodal

Container transport					Revenue
in thousand TEU					in € million	+13.4%
			-5.4%
										157.3
431		408
	138.7

1Q22

1Q23

1Q22

1Q23

OpEx	EBIT and EBIT margin
in € million	in € million	-1.0%
		+16.0%
		135.8	21.6	21.4
117.1

15.6%

13.6%

1Q22

1Q23

1Q22

1Q23

15.05.2023 Analyst conference on the interim results January to March 2023

© Hamburger Hafen und Logistik AG

• Moderate decline in transport volumes
• • Rail transport fell by 5.6 % to 340 k TEU;
    all major routes were affected by the decline, particularly the North German seaports
  • Road transport down 4.2 % to 68 k TEU
• Revenue increased since prices could be adjusted with a short time lag to increased energy costs
• EBIT decreased slightly due to lower transport volumes

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