Hamburger Hafen und Logistik AG (HHLA) has adjusted its expectations for the 2026 financial year. This decision follows a re-evaluation of previous business performance and updated assessments of future developments. The correction is due to operational disruptions, which have been more severe than originally anticipated during the current year to date.
Measures for the automation of Hamburg's container terminals, in conjunction with extensive infrastructure projects in the rail network, led to these disruptions. This resulted in a development of handling and transport volumes that lagged behind original assumptions. Furthermore, a challenging overall economic environment and ongoing geopolitical uncertainties negatively impacted business development. The effects of an onset of winter at the beginning of the year cannot be fully compensated for, according to the current assessment.
For the Port Logistics segment, HHLA now forecasts a slight decrease in container handling compared to the previous year, having previously expected a significant increase. In the container transport sector, a slight increase compared to the previous year is forecast, whereas the original expectation was a strong increase. The segment's revenue is now expected to show a significant increase, instead of the strong increase previously anticipated. The operating result (EBIT) for port logistics is expected in a range of 135 to 155 million EUR, compared to the previous forecast of 160 to 180 million EUR.
For the Real Estate segment, the expected revenue remains unchanged at the previous year's level. However, a significant decrease is forecast for the operating result (EBIT) of the real estate sector. At group level, a significant increase in revenue is now expected, contrary to the earlier assumption of a strong increase. The operating result (EBIT) for the entire HHLA is set to be in a range of 150 to 170 million EUR, representing an adjustment from the previous range of 175 to 195 million EUR. These adjustments reflect the cumulative effects of the aforementioned factors on the group's overall performance.
- —HHLA forecasts lower revenue and earnings development at group level.
- —Port Logistics segment expects a slight decrease in container handling.
- —Real Estate segment anticipates stable revenue but a significant EBIT decline.
- —Geopolitical uncertainties and macroeconomic environment weigh on business development.
