Konecranes begins delivery of 116 Li-Ion AGVs to HHLA’s CTB
NewsThe order is part of CTB’s transition from manual straddle carrier operations to automated, emission-free AGVs between the quay and storage blocks.
HHLA Q1 2024 profit declines
HHLA’s Q1 2024 revenue and earnings declined due to global crises and the Red Sea conflict, with revenue down 0.3% and EBIT down 23.9%, resulting in a net loss of EUR 1.1 million.
The revenue and earnings performance of Hamburger Hafen und Logistik AG (HHLA) declined in Q1 2024, due to ongoing crises and rising geopolitical tensions continuing to suppress global economic development. Additionally, the Red Sea military conflict caused major shipping delays and cancellations in European ports, affecting hinterland transport.
As a result, Group revenue decreased slightly in the first quarter by 0.3% to EUR363.6 million (previous year: EUR364.7 million). Price increases triggered by inflation and one-off effects from last year caused the Group operating result (EBIT) to decrease by 23.9% to EUR17.4 million (previous year: EUR22.9 million). The EBIT margin amounted to 4.8% (previous year: 6.3%). Profit after tax and minority interests came to EUR -1.1 million (previous year: EUR2.8 million).
Angela Titzrath, CEO of HHLA, commented: “The start of HHLA in 2024 was made even more difficult by the disruptions in the supply chains due to the situation in the Red Sea and the challenging economic environment. Ships were delayed at the ports, which in turn affected HHLA’s container terminals and hinterland traffic. Despite the market uncertainties, HHLA has pushed ahead with its forward-looking transformation while investing in the expansion of its network and the modernisation of its facilities.”
Container volumes rise
Container throughput in the Container segment at HHLA’s container terminals increased by 3.3% on the weak figure for the first three months of the previous year to 1.464M TEU (previous year: 1.416M TEU). At 1.400M TEU, throughput volume at the Hamburg container terminals was up 2.9% on the same period of the previous year (previous year: 1.360M TEU).
The main driver of this positive development was the rise in volumes for the South, Central and North American shipping regions. Cargo volumes from the United States exhibited particularly strong growth. The throughput volume for the Far East shipping region continued to decline. Although feeder traffic volumes remained at low levels, these were up significantly on the previous year. The total proportion of seaborne handling by feeders amounted to 18.8% in the first three months of the year (previous year: 18.1%).
The international container terminals reported a 12.7% rise in throughput volume to 63,000 TEU (previous year: 56,000 TEU), driven by the sharp rise at the multifunctional terminal HHLA TK Estonia. This more than compensated for the reduction in throughput volume at HHLA PLT Italy in Trieste due to ships being rerouted or cancelled as a consequence of the military conflict in the Red Sea. Volumes at Container Terminal Odessa (CTO) once again failed to materialise after seaborne handling in the terminal was suspended by the authorities at the end of February 2022 following the Russian invasion.
Segment revenue rose by 5.4% in the reporting period to EUR185.3 million (previous year: EUR175.8 million). In addition to the increase in volumes, this was due to temporarily longer dwell times for containers being handled at the Hamburg terminals, which also led to increased storage fees. As a result, the operating result (EBIT) climbed by 87.3% to EUR10.7 million (previous year: EUR5.7 million). The EBIT margin increased by 2.6 percentage points to 5.8% (previous year: 3.2%).
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