Germany's HHLA 2025 revenue rises on volume growth in rail and road transport

Hamburger Hafen und Logistik AG

26/03/2026 06:42

Overview

Germany port operator's 2025 revenue grew 9.9%, EBIT up 19.5% in tough market

Profit after tax dropped 70% due to one-off tax effects; no dividend proposed

Container throughput rose 5.4%, intermodal transport up 10.9% on volume growth

Outlook

HHLA expects strong revenue growth and EBIT of €175 mln to €195 mln at Group level in 2026

Port Logistics subgroup targets EBIT between €160 mln and €180 mln for 2026

Company expects significant increase in container throughput and strong growth in container transport in 2026

Result Drivers

VOLUME GROWTH - Co said increases in container throughput and intermodal transport volumes, especially rail and road, supported revenue and EBIT growth

INTERNATIONAL TERMINALS - Co cited strong rise in throughput at international terminals, including resumption of operations at Odessa, as contributing to volume growth

HIGHER PERSONNEL EXPENSES - Co said rise in personnel costs from wage agreements and added staffing needs weighed on Container segment EBIT

Company press release: ID:nEQc2vXMRa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY EBITDA
EUR 336.60 mln
FY EBITDA Margin
19.20%
FY EBIT Margin
9.10%


Analyst Coverage

The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 17 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)