Results January to September 2021

Analyst conference call on the interim results January to September 2021

Hamburg, 11 November 2021

© Hamburger Hafen und Logistik AG

Agenda

01 At a glance

Angela Titzrath, CEO

02 Financial performance 1-9│2021

Dr. Roland Lappin, CFO

03 Guidance 2021

Angela Titzrath, CEO

04 Questions & answers

Angela Titzrath, CEO

Dr. Roland Lappin, CFO

11 November 2021 Analyst conference on the interim results January to September 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

Strong increase in revenue and EBIT supported by temporary effects

Favourable growth in container transport volumes; full-year guidance for 2021 raised

Major achievements

Key figures for 1-9│2021

• HHLA kept production running 24/7 despite pandemic-related restrictions
• Automation of block storage at CTB continued
• COSCO Shipping Ports receives minority stake of 35 % in Container Terminal Tollerort
• HHLA became part of H2Global Foundation and successfully completed joint project with MAN "Hamburg TruckPilot"

Market environment

• Several effects worldwide led to persisting imbalances in trade flows, i.e. accident in Suez Canal, shutdowns at key export ports in China due to corona outbreaks, fire at a Japanese semiconductor factory, power supply problems in China
• Ongoing delays in sailing schedules led to high pressure on terminals and hinterland transport systems

Results

• Slight increase in container throughput despite loss of a Far East service in previous year; container transport grew strongly
• EBIT benefited from temporary increase in storage fees and strong transport volumes
• ROCE exceeds medium- and long-term target of 8.5 %

Throughput

5,165 k TEU

+ 1.6 %

Revenue

• 1,057.5 m
• • 12.8 %

EBIT margin

14.3 %

+ 4.0 pp

ROCE

10.5 %

+ 3.7 pp

Transport

1,154 k TEU

• • 11.1 %
    EBIT
• 151.3 m
• • 56.7 %

Profit after tax and minorities

• 73.1 m
• 133.7 %

Operating cash flow

• 242.4 m
• • 29.2 %

11 November 2021

Analyst conference on the interim results January to September 2021

© Hamburger Hafen und Logistik AG

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Financial performance

Strong rise in top and bottom line due to temporary increase in storage fees

Container Volume increase mainly driven by Far East as well as Americas shipping regions

Container throughput in thousand TEU

+1.6%

Revenue

in € million

+13.1%

 Container throughput up by 1.6 % overall,

mainly driven by Internationals (+4.8 %) whilst

Hamburg volumes (+1.3 %) masked by loss of

5,086 5,165

548.4

620.0

	Far East service in previous year
	Positive volume development driven by
	− moderate increase in the shipping regions
	Far East, North America and South America
	− acquisition of an additional feeder service for
	the Baltic Sea region in the third quarter
	Average revenue per TEU up by 12.0 % y-o-y

9M20 9M21

OpEx

in € million

+6.7%

479.7 512.1

9M20 9M21

9M20 9M21

EBIT and EBIT margin in € million

+57.2%

107.9

68.7

12.5%

17.4%

9M20 9M21

mainly attributable to
− higher storage fees due to longer dwell times
	as a result of ongoing delays in shipping
	schedules
 OpEx increased by 6.7% due to
-	higher external staff and material costs
-	additional provisions for the restructuring
	measures
-	union wage rate increases
-	ramp-up costs for PLT Italy (Trieste)
 EBIT increased despite higher opex due to
improved revenue quality

11 November 2021

Analyst conference on the interim results January to September 2021

© Hamburger Hafen und Logistik AG

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Financial performance

Pleasing revenue development driven by increase in rail transport volumes

Intermodal EBIT growth supported by one-off effect from retroactively granted higher subsidy

Container transport in thousand TEU

+11.1%

1,129 1,254

9M20 9M21

Revenue

in € million

+9.9%

348.7 383.2

9M20 9M21

	Strong rise in transport volumes driven by
	increase in rail transport (+14.0%) while
	road transportation kept stable
	Rail share up to 81.4 % (+2.1 pp)
	Volume growth was broadly diversified
	Revenue increased significantly but lagged
	behind volume growth as average revenue
	per TEU came down as a result of a change
	in structure of cargo flows
	OpEx rise driven by higher personnel

OpEx

in € million

+6.0%

286.4 303.7

EBIT and EBIT margin in € million

62.4

+27.5%

79.5

	expenses due to increased staff base
	EBIT development supported by
	− favourable top line growth and
	− retroactively granted higher subsidy for
	route prices of € 11 m.
	EBIT margin increased by 2.9 pp to 20.8 %

9M20 9M21

17.9%

20.8%

9M20 9M21

11 November 2021

Analyst conference on the interim results January to September 2021

© Hamburger Hafen und Logistik AG

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