The executive board of Hamburger Hafen und Logistik AG (HHLA) has decided to adjust its guidance for operating earnings (EBIT) for financial year 2026. The revision is based on business performance in recent months as well as updated forecasts for the fourth quarter of the current year.
A key factor behind this step is the strategic focus on the core business. Against this background, the company conducted a detailed review of its portfolio of start-ups and spin-offs. Following corresponding market soundings, HHLA is booking a non-cash impairment of around EUR 12 million in the Logistics segment.
Operational pressures at the Hamburg terminals
Alongside accounting factors, operational influences are impacting overall earnings. Strike-related disruptions as well as the ramp-up phase of ongoing automation at the Hamburg container terminals meant that throughput volumes lagged behind original assumptions. As a result, the company now expects a significant year-on-year decline in container throughput for the full year, having previously forecast a slight decrease.
Adjustment of key figures at group and sub-group level
For the Port Logistics subgroup, operating earnings (EBIT) are now expected to be in a range between EUR 100 million and EUR 120 million for financial year 2026. A corridor of EUR 135 million to EUR 155 million had previously been projected. At group level, the executive board is now forecasting EBIT between EUR 115 million and EUR 135 million, compared with the original target figure of EUR 150 million to EUR 170 million.
- —Group EBIT: Revision to EUR 115 million to EUR 135 million (previously: EUR 150 million to EUR 170 million)
- —Port Logistics subgroup: EBIT expectation adjusted to EUR 100 million to EUR 120 million
- —Container throughput: Expectation of a significant year-on-year decline
- —Impairment: Around EUR 12 million non-cash expense in the Logistics segment
Unaffected by the adjustment to earnings figures are expectations for volume growth in container transport as well as revenue. In this regard, HHLA confirms its previous assessment and continues to expect a significant increase in revenue alongside a slight rise in container transport.
