Hamburger Hafen und Logistik : Results January to June 2021

Analyst conference call on the interim results January to June 2021

Hamburg, 12 August 2021

© Hamburger Hafen und Logistik AG

Agenda

01 At a glance

Dr. Roland Lappin, CFO

02 Financial performance 1-6│2021

Dr. Roland Lappin, CFO

03 Guidance 2021

Dr. Roland Lappin, CFO

04 Questions & answers

Dr. Roland Lappin, CFO

12 August 2021 Analyst conference on the interim results January to June 2021

Agenda

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 parents 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.

© Hamburger Hafen und Logistik AG

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At a glance

Favourable EBIT development in line with full-year guidance

Accelerate growth in transport volume and revenue; ROCE in line with medium-term target

Major achievements

Key figures for 1-6│2021

• HHLA kept production running despite pandemic-related restrictions
• Automation of block storage at CTB to boost efficiency continued
• Negotiations with CSPL on strategic minority shareholding in Container Terminal Tollerort
• Dividend payment of 45 cents per class A share with majority opting for scrip dividend

Market environment

• Persisting imbalances in trade flows due to a lack of empty containers and shipping space as a result of catch-up effects
• Delays in sailing schedules led to high pressure on terminals and hinterland transport systems

Results

• Container throughput growth still masked by the loss of a Far East service in in previous year whereas container transport grew strongly
• EBIT benefited from increase in storage fees and strong development of transport volumes
• ROCE in line with the medium- and long-term target of 8.5 %

Throughput

3,369k TEU

+ 0.7 %

Revenue

• 695.1 m
• • 13.2 %

EBIT margin

12.0 %

+ 4.0 pp

ROCE

8.7 %

• 3.5 pp

Transport

832k TEU

• 16.0 %
  EBIT
• 83.8 m
• 70.4 %

Profit after tax and minorities

• 34.9 m
• 226.9 %

Operating cash flow

• 142.4 m
• • 5.1 %

12 August 2021

Analyst conference on the interim results January to June 2021

© Hamburger Hafen und Logistik AG

3

Financial performance

Strong EBIT rise mainly supported by temporary increase in storage fees

Container Volume recovery burdened by service loss in 2020; growth mainly driven by Far East volumes

Container throughput in thousand TEU

+0.7%

Revenue

in € million

+11.4%

	Container throughput up by 0.7 %
	(Hamburg: +0.5 %; Internationals: +3.4 %)
	Moderate increase in volumes with the Far East

3,345 3,369

363.4

404.9

offset pandemic-related declines and the loss

of a Far East service in Q2 2020

 Average revenue per TEU + 10.6 % y-o-y

mainly attributable to

− advantageous modal split with

high share of hinterland volumes

− higher storage fees due to longer dwell times

1H20 1H21

OpEx

in € million

+4.6%

326.5 341.6

1H20 1H21

1H20 1H21

EBIT and EBIT margin in € million

+72.1%

63.4

36.8

10.1%

15.6%

1H20 1H21

	as a result of ongoing delays in shipping
	schedules caused by pandemic-related
	delays in ship departures and the blockade
	of the Suez Canal in March
 OpEx increased moderately by 4.6% due to
-	higher staff and material costs
-	provisions for the restructuring measures
- first-time consolidation of PLT Italy
 EBIT increased strongly due to improved
revenue quality

12 August 2021

Analyst conference on the interim results January to June 2021

© Hamburger Hafen und Logistik AG

4

Financial performance

Accelerated volume development even surpassed by EBIT growth

Intermodal Double-digit EBIT margin at a remarkable level

Container transport		Revenue
in thousand TEU		in € million	+13.3%
	+16.0%
		832						252.9
	223.2
718

	Strong rise in transport volumes more
	pronounced in rail transport than road
	transportation (+ 19.3% vs. + 3.4 %)
	Rail share up to 81.4 % (+2.2 pp)
	Volume growth was broadly diversified
	Revenue increased significantly but lagged
	behind volume growth as average revenue
	per TEU fell due to a change in structure of

1H20 1H21

1H20 1H21

cargo flows

 OpEx up strongly driven by higher personnel

OpEx

in € million

+9.6%

188.7 206.8

EBIT and EBIT margin in € million

34.5

+33.4%

46.0

	expenses due to increased staff base
	EBIT grew by 33.4 % against the backdrop
	of the positive volume and revenue
	development
	Favourable EBIT margin of 18.2 % (+2.7 pp)

1H20 1H21

15.5%

18.2%

1H20 1H21

12 August 2021

Analyst conference on the interim results January to June 2021

© Hamburger Hafen und Logistik AG

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