HHLA shares collapse: HHLA will be a little more optimistic again for 2021 | 03/25/21

After a difficult year, the Hamburg port operator HHLA is expecting a recovery again.

HHLA is again assuming a moderate increase in both container handling and container transport, it said on Thursday when the detailed annual figures for 2020 were presented. Accordingly, sales should also rise moderately again, with HHLA forecasting operating profit (EBIT) between 153 million euros for 2021 and 178 million euros. In the past year, as is already known, due to the pandemic, EBIT fell by around 44 percent to 123.6 million euros.

On the one hand, the Hamburg-based company had lost volumes, and the savings program also caused additional costs. The group result fell within one year by more than half to 42.6 million euros. The bottom line in the listed Port Logistics subgroup fell even more sharply to 35.3 million euros. For the shareholders this means: Management is only proposing a dividend of 45 cents. In the previous year it was 70 cents.

The group had already announced key data in advance. In 2020, container throughput at the HHLA terminals fell by almost eleven percent to fewer than 6.8 million standard containers as a result of the pandemic. Sales fell by around six percent to just under 1.3 billion euros.

In XETRA trading, investors are fleeing: the HHLA share is currently losing 8.89 percent to 19.36 euros.

HAMBURG (dpa-AFX)

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