HHLA group loses around one quarter of their turnover
HHLA group decides temporary closure of the CTT container terminal Tollerort In the year 2010 the management of the HHLA port logistics group (Hamburg) reckons with a slight decline of the sales revenues and an operating profit below the 2009 level. Against this background CEO Klaus-Dieter Peters announced further steps to reduce costs and increase efficiency at the presentation of the 2009 balance. This includes the temporary closure of the CTT container terminal Tollerort to reduce over capacities. However, Mr Peters did not specify the end of the “time-out“. In the financial year 2009 the leading port logistics enterprise in Europe has to register substantial falls in their business volume. Revenue was down 25.3 per cent at EUR 990.7 million compared to the previous year. Operating result (EBIT) from continuing activities was 50.3 per cent lower at EUR 177.7 million. The corresponding EBIT margin was 18 per cent (2008: 27.3 per cent). The container segment posted a 32.9%-downturn in volumes to 4.9 million TEU at the HHLA container terminals in Hamburg and Odessa in the financial year 2009. While turnover was EUR 561.6 million (minus 29.1 per cent) the EBIT margin amounted to 26.6 percent (2008: 38.4 per cent). The intermodal business unit (TFG Transfracht, Metrans, Polzug) had to face an18.5%-drop in transport volume to 1.5 million TEU. Turnover of the segment fell 25 per cent to EUR 277.3 million. EBIT from continuing activities sank by 48 per cent to EUR 21.9 million. In the logistics segment revenue was down 9.4 per cent to EUR 114.9 million, with an EBIT of EUR 8.2 million (- 21 per cent). EBIT margin of 7.2 per cent was just below the previous year’s 8.2 per cent. Measures taken by the management taken in the frame of the “Securing the future” project had the following impact: 28.6 per cent cut in the costs of material on the previous year, to EUR 346.1 million (2008: EUR 484.7 million); the modernization and expansion programme for the period 2009 – 2012 has been staggered, (EUR 600 million of the original EUR 1.2 billion were deferred to the period after 2012). The volume of investments in the financial year 2009 totalled EUR 159.7 million. |
