Main — Business — German owner of the subsidiary "Container Terminal Odessa" doubled its profit in three quarters of 2021
BusinessGerman owner of the subsidiary "Container Terminal Odessa" doubled its profit in three quarters of 2021
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The German transport and logistics group Hamburger Hafen und Logistik AG (HHLA) in January-September 2021 increased its net profit by 2.1 times compared to the same period last year - to € 79.4 million, the press service of HHLA and Ports of Ukraine reported.
Group revenues increased by 12.4% to € 1.079 billion. EBITDA increased by 25.3% to € 290.1 million, operating profit - by 51.3% to € 162.1 million.
HHLA attributed the positive trend to high storage fees at the Port of Hamburg due to increased storage times due to temporary disruptions in supply chains. In addition, the growth in container traffic also played a role.
The port and logistics division increased revenue by 12.8% to € 1.058 billion, the container division - by 13.1%, to € 620 million, the intermodal segment - by 9.9%, to € 383.2 million.
Intermodal container traffic increased by 11.1% to 1.254 million TEU. Including the volume of railway transportation increased by 14% - to 1.021 million TEU, and road - decreased by 0.4%, to 233 thousand TEU.
Container turnover of terminals within the group increased by 1.6% to 5.165 million TEU. Including three terminals in Hamburg increased turnover by 1.3% - to 4.712 million TEU, foreign container terminals in Odessa and Tallinn - by 4.8%, to 453 thousand TEU, returning to the pre-pandemic level of 2019. The group's new terminal in Trieste handled only Ro-Ro vessels and did not handle containers.
At the end of the third quarter, HHLA's net profit increased compared to the same period in 2020 by 1.8 times - to € 40.6 million, revenue - by 11.5%, to € 369.7 million, EBITDA - by 24.6% , to € 113.9 million, operating profit - by 38.5%, to € 71.6 million.
HHLA is the largest port and transport and logistics company in Germany. Manages container terminals Altenwerder, Burchardkai and Tollerort in the port of Hamburg, the terminal of the Odessa Container Terminal and the Transiidikeskuse terminal in the port of Tallinn. The three container terminals in Hamburg account for three quarters of the group's total container turnover. The group's intermodal business is represented by Metrans and Polzug.
