Slides
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Analyst conference call on the interim results January to March 2025 Hamburg, 15 May 2025
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Unser Selbstverständnis 2 Content 1. At a glance by Angela Titzrath, CEO 2. Financial performance 1-3│2025 by Annette Walter, CFO 3. Guidance 2025 by Angela Titzrath, CEO 4. Questions & answers with Angela Titzrath, CEO and Annette Walter, CFO 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.
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Despite ongoing global challenges HHLA benefits from temporary effects and European network expansion 3 Market environment Ongoing economic weakness in Germany, conflicts in Ukraine and the Middle East, along with increasing protectionist tendencies ‒ especially in US trade policy ‒ are having a sustained impact on the global economy and global trade Far East volumes rising, especially from China Financial performance Container throughput up by 5.5 %; container transport rose by 28.7 % Revenue and EBIT growth supported by volume growth and continuing higher storage fees at Hamburg container terminals, leading to EPS of € 0.08 Major events CTA: installation of three remote-controlled container cranes, operational by the end 2025 CTB: three additional automated storage blocks in operation since February CTT: successful completion of a research project on automated rail handling Internationalisation: expansion of the intermodal hinterland network and service offering, with increased Mediterranean presence through a new service at HHLA PLT Italy EBIT margin 6.7 % 2.8 pp Operating cash flow € 54.9 m 123.7 % Revenue € 426.3 m 20.1 % Profit after tax and minorities € 5.8 m pos. EBIT € 28.8 m 109.5 % ROCE 5.0 % 2.5 pp Throughput 1,544 k TEU 5.5 % Transport 496 k TEU 28.7 % Port Logistics subgroup 1–3│2025 15.05.2025 Analyst conference call on the interim financial results January to March 2025 At a glance.
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EBIT benefits from higher volumes and continuing high level of storage fees 415.05.2025 Analyst conference call on the interim financial results January to March 2025 Overall container throughput up by 5.5 % − Hamburg volumes up by 5.1 % − feeder ratio slightly up by 1.2 pp to 20.0 % − internationals up 13.8 % mainly driven by resumption of waterside handling at CTO in Q3 Strong rise in revenue mainly driven by volume growth and temporary higher storage fees OpEx increase of 7.9 % impacted by − higher personnel expenses, partly because of collective wage agreements, additional deployment of the GHB pool, as well as higher expenses for consultancy and related services, and purchased services − opposing effects from measures to safeguard earnings and other transformation projects, as well as reductions for external maintenance services EBIT benefits from positive revenue development and favourable revenue mix Container throughput in thousand TEU Revenue in € million OpEx in € million EBIT and EBIT margin in € million Container segment. 1Q24 1Q25 1,464 1,544 +5.5% 1Q24 1Q25 185.3 206.4 +11.4% 1Q24 1Q25 10.7 18.0 +68.3% 1Q24 1Q25 174.7 188.4 +7.9% 5.8 % 8.7 %
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Volumes supported by DACH region and acquisition, while EBIT margin impacted by operational disruptions 515.05.2025 Analyst conference call on the interim financial results January to March 2025 Transport volumes up significantly by 28.7 % − rail transport rose by 30.1 % to 428 k TEU due to strong rise in volumes with Northern and Adriatic seaports, as well as with DACH region and the acquisition of Roland SpeditionGmbH in Q2 2024 − road transport up strongly by 20.4 % to 68 k TEU Revenue increase of 33.1 % supported by − regular price adjustments and − higher rail transport share of 86.3 % (previous year: 85.4 %) EBIT up by 42.1 % due to higher volumes EBIT margin improvedonly slightly due to operational burdens, including construction sites on key transport routes Container transport in thousand TEU Revenue in € million OpEx in € million EBIT and EBIT margin in € million Intermodal segment. 1Q24 1Q25 386 496 +28.7% 1Q24 1Q25 151.8 202.0 +33.1% 1Q24 1Q25 137.7 182.0 +32.1% 1Q24 1Q25 14.1 20.0 +42.1% 9.3% 9.9%
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Revenue and EBIT development supported by strong growth in leasing activities 615.05.2025 Analyst conference call on the interim financial results January to March 2025 Revenue from consolidated companies increased mainly due to strong growth of leasing activities for the intermodal sector EBIT overall negative at € - 0.2 m, but with strong earnings contribution from leasing activities for the intermodal sector Downturn of 31.6 % in at-equity earnings since contribution from bulk cargo handling dropped strongly Revenue in € million EBIT in € million At-equity earnings in € million Logistics segment. 1Q24 1Q25 19.2 20.6 +7.2% 1Q24 1Q25 -0.9 -0.2 pos. 1Q24 1Q25 1.1 0.7 -31.6%
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Capex development slightly below expectations, free cash flow negative 715.05.2025 Analyst conference call on the interim financial results January to March 2025 Earnings bridge. in € million Payments to minorities 11.8 Redemption of lease liabilities Redemption of (financial) loans 0.6 Others effects 14.1 F/X effects 20.0 197.5 Financial fund as of 31.03. 20.0 0.1 230.0 Financial fund as of 01.01. D&A 40.3 EBIT 28.8 EBITDA Working capital and other effects 69.7 Investments 0.3 Divestments 250.0 69.0 6.8 0.0 Changes in short-term deposits 0.0 Dividend paid 0.0 217.5 Operating cash flow Investing cash flow Financing cash flow Free cash: - 14.6 Financial fund Short-term deposits 54.9 -69.5 -18.0
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Outlook 2025 confirmed 815.05.2025 Analyst conference call on the interim financial results January to March 2025 Guidance 2025. GDP development World + 2.8 % China + 4.0 % Eurozone + 0.8 % CEE + 2.1 % World trade + 2.8 % Throughput development World + 2.3 % China + 1.0 % Europe + 3.2 % NW Europe + 3.1 % Scandinavia & Baltics + 3.5 % Research estimates for 2025 Sources: IMF, 04/2025 // Drewry Maritime Research, 04/2025 Guidance for the Port Logistics subgroup 2025 Level of intensity: slight < moderate < significant < strong 2024 Guidance for 2025 Container throughput 5,970 k TEU strong increase Container transport 1,787 k TEU strong increase Revenue € 1,561.7 m strong increase EBIT € 117.8 m in the range of € 180 to 220 m Capital expenditure € 280.8 m in the range of € 420 to 470 m Liquidity € 250.0 m sufficient to meet payment obligations at all times Dividend proposal per A class share € 0.16 commitment to pay out 50 to 70 % of net profit after minority interests
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Unser Selbstverständnis 9 Recording will be available at https://hhla.de/en/investors/publications/reports/conference-call
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Contact us Investor Relations T. +49 40 3088-3613 E. investor-relations@hhla.de Hamburger Hafen und Logistik AG Bei St. Annen 1 D-20457 Hamburg www.hhla.de/en