DGAP-News: Hamburger Hafen und Logistik AG / Key word(s): Half Year Report 
Hamburger Hafen und Logistik AG: HHLA benefits from strong increase in container transport by rail 
2021-08-12 / 07:30 
The issuer is solely responsible for the content of this announcement. 
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Publication of half-year financial report January to June 2021 
HHLA benefits from strong increase in container transport by rail 
  . Slight increase in container throughput of 0.7 percent to 3,369 thousand TEU 
  . Strong increase in container transport to 832 thousand TEU (+16.0 percent) 
  . Forecast for 2021 partially raised 
  . Chairwoman of the Executive Board, Angela Titzrath: "The fact that we achieved a positive operating result despite 
    challenging conditions is an expression of the strength of HHLA." 
Despite the continued influence of the coronavirus pandemic and a resulting imbalance in global transport flows, 
Hamburger Hafen und Logistik AG (HHLA) recorded positive business development in the first half-year of 2021. The Group 
operating result (EBIT) increased by 63.2 percent year-on-year to ? 90.5 million. The positive business development was 
partially attributable to high storage fees as a result of continued shipping delays at the Port of Hamburg as well as 
a strong increase in container transport volumes. While container transport recorded strong growth of 16.0 percent, 
container throughput increased slightly by 0.7 percent compared with the same period last year. The Real Estate 
subgroup achieved slight growth in revenue and significant increase in earnings. In total, Group revenue increased by 
12.8 percent to ? 709.2 million. 
Angela Titzrath, Chairwoman of HHLA's Executive Board: "Global supply chains have been disturbed as a result of the 
coronavirus pandemic as well as singular events such as the recent one in the Suez Canal. This has resulted in massive 
shipping delays to which we terminal operators must adapt. However, we are conscious of our responsibility for the 
steady supply for consumers and companies in Germany and Europe. We are therefore undertaking great efforts to ensure 
reliable handling at our facilities and fast onward transport of containers. The fact that we once again achieved a 
positive operating result in the first half-year of 2021 despite challenging conditions is an expression of the 
strength of HHLA and of its ability to successfully adapt to current challenges." 
Port Logistics subgroup: performance January to June 2021 
The listed Port Logistics subgroup recorded a strong 13.2 percent increase in revenue to ? 695.1 million in the first 
six months (previous year: ? 614.2 million). The operating result (EBIT) increased by 70.4 percent to ? 83.8 million as 
compared with the previous year, which was strongly affected by the pandemic (previous year: ? 49.1 million). The EBIT 
margin improved by 4.0 percentage points to 12.0 percent. 
In the Container segment, the throughput volume at HHLA's container terminals increased slightly by 0.7 percent to 
3,369 thousand standard containers (TEU) (previous year: 3,345 thousand TEU). At the three Hamburg container terminals, 
the throughput volume of 3,073 thousand TEU was up 0.5 percent on the same period last year (previous year: 3,058 
thousand TEU). This was due in particular to the moderate increase in cargo volumes for Far East services, which offset 
pandemic-related volume shortfalls in the previous year and the loss of a Far East service in May 2020. On the other 
hand, there was a moderate decline in feeder traffic, particularly in the Baltic region. The international container 
terminals in Odessa and Tallinn recorded an increase in throughput volume of 3.4 percent to 296 thousand TEU (previous 
year: 286 thousand TEU). Only RoRo ships - and no container ships - were processed at the Trieste container terminal 
during the first six months of 2021. 
Revenue increased year-on-year in the first half of 2021 by 11.4 percent to ? 404.9 million (previous year: ? 363.4 
million). The slight increase in volume of 0.7 percent was strongly exceeded by the increase in revenue quality. 
Average revenue per container handled at the quayside rose by 10.6 percent year-on-year. This was due to an 
advantageous modal split with a high proportion of hinterland volumes and a temporary increase in storage fees as a 
result of ongoing ship delays. In addition to the pandemic-related delays in ship arrivals, the blocking of the Suez 
Canal in March also led to longer dwell times that led to an increase in storage revenue. Against this backdrop, the 
operating result (EBIT) increased by 72.1 percent to ? 63.4 million (previous year: ? 36.8 million). The EBIT margin 
increased by 5.5 percentage points to the more normal level of 15.6 percent. 
In the Intermodal segment, container transport increased strongly by 16.0 percent to 832 thousand TEU (previous year: 
718 thousand TEU). It was primarily rail transport that continued to benefit from the recovery in freight volumes 
beginning in the second half of 2020. Rail transport increased by a remarkable 19.3 percent year-on-year to 678 
thousand TEU (previous year: 568 thousand TEU). The increase was even more significant in the second quarter compared 
with the previous year's pandemic-related weak quarter. The growth in volume during the first half of the year was 
widely diversified. In a persistently challenging market environment, road transport increased moderately by 3.4 
percent to 155 thousand TEU (previous year: 149 thousand TEU). 
At ? 252.9 million, revenue was up by 13.3 percent on the prior-year figure (previous year: ? 223.2 million). However, 
this increase failed to match the development in transport volumes. Despite the advantageous increase in the rail share 
of HHLA's total intermodal transportation from 79.2 percent to 81.4 percent, average revenue per TEU decreased as a 
result of changes to the structure of freight flows. In light of the positive trend in volume and revenue, the 
operating result (EBIT) increased by 33.4 percent to ? 46.0 million in the reporting period (previous year: ??34.5 
million). 
Real Estate subgroup: performance January to June 2021 
HHLA's properties in the Speicherstadt historical warehouse district and the Fischmarkt area continued their positive 
trend with almost full occupancy in the first six months of 2021. 
Revenue rose slightly by 1.9 percent in the reporting period to ? 18.4 million (previous year: ? 18.0 million). In 
addition to the reactivation of revenue-based rent agreements, this was primarily due to the partial waiving of rent 
deferrals as a consequence of the Covid-19 crisis in the previous year. As maintenance volumes remained almost 
constant, the operating result (EBIT) increased by 7.1 percent to ? 6.6 million (previous year: ? 6.1 million). 
Forecast for 2021 partially raised 
The economic development of HHLA in the first half of 2021 was largely in line with expectations. However, expectations 
for container transport and revenue for the Port Logistics subgroup and the Group have been raised. 
For the Port Logistics subgroup, a moderate year-on-year increase in container throughput is expected, as well as a 
significant increase in container transport (previously: moderate increase). In view of the positive development in the 
first half of 2021, a significant increase in revenue is now expected for the year as a whole (previously: moderate 
increase). EBIT for the Port Logistics subgroup is still expected to be within the range of ? 140 million to ? 165 
million. 
A slight year-on-year increase in revenue is still considered possible for the Real Estate subgroup with an operating 
result (EBIT) on a par with the previous year. 
At Group level, HHLA now expects a significant increase in revenue (previously: moderate increase), while an operating 
result (EBIT) in the range of ? 153 million to ? 178 million is still anticipated. 
Key figures: January to June 
HHLA Group 
in ? million                              1 - 6 | 2021   1 - 6 | 2020    Change 
Revenue                                          709.2          628.4    12.8 % 
EBITDA                                           176.2          140.1    25.8 % 
EBITDA margin in %                                24.9           22.3    2.6 pp 
EBIT                                              90.5           55.5    63.2 % 
EBIT margin in %                                  12.8            8.8    4.0 pp 
Profit after tax and minority interests           38.8           14.1   175.1 % 
ROCE in %                                          8.5            5.4    3.1 pp 
Port Logistics Subgroup ^1,2 
in ? million                              1 - 6 | 2021   1 - 6 | 2020    Change 
Revenue                                          695.1          614.2    13.2 % 
EBITDA                                           166.0          130.4    27.3 % 
EBITDA margin in %                                23.9           21.2    2.7 pp 
EBIT                                              83.8           49.1    70.4 % 
EBIT margin in %                                  12.0            8.0    4.0 pp 
Profit after tax and minority interests           34.9           10.7   226.9 % 
Earnings per share in ?                           0.49           0.15   226.9 % 
^1 Before consolidation between subgroups 
^2 Listed class A shares 
Container segment 
in ? million                           1 - 6 | 2021   1 - 6 | 2020   Change 
Revenue                                       404.9          363.4   11.4 % 
EBITDA                                        113.6           84.2   35.0 % 
EBITDA margin in %                             28.1           23.2   4.9 pp 
EBIT                                           63.4           36.8   72.1 % 
EBIT margin in %                               15.6           10.1   5.5 pp 
Container throughput in thousand TEU          3,369          3,345    0.7 % 
Intermodal segment 
in ? million                          1 - 6 | 2021   1 - 6 | 2020   Change

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August 12, 2021 01:30 ET (05:30 GMT)