HHLA releases Q1/2023 results
Despite the challenges caused by ongoing geopolitical tensions, EU economic sanctions and slower economic growth in the first months of 2023, Hamburger Hafen und Logistik (HHLA) “continues to implement its strategy based on sustainability and profitable growth,” so chief executive officer Angela Titzrath.
Although revenue fell by 5.6% to EUR 364.7 million and the operating result (ebit) dropped by 57.3% to EUR 22.9 million, HHLA’s economic development in Q1/2023 was largely in line with expectations.
The main reasons for the decline in revenue and earnings were the demand-related drop in container handling volumes, the decrease in income from storage fees at the Hamburg container terminals and the discontinuation of sea freight handling at the container terminal in Odessa. (lh)