Hamburg port operator lifts half-year results as China trade drives growth

According to the company’s half-year report, HHLA’s consolidated revenue rose by 16.3 per cent to €884.5 million (H1 2024: €760.3 million). Operating profit (EBIT) increased by 34.8 per cent to €79.4 million (H1 2024: €58.9 million), with the EBIT margin reaching 9.0 per cent (H1 2024: 7.7 per cent). Earnings after taxes and minority interests climbed by 44.4 per cent to €19.1 million.

CEO Angela Titzrath said:

“HHLA’s positive performance continued in the second quarter of 2025. This shows that our targeted strengthening of the European network is paying off.”

She stressed that the company had held its ground successfully in spite of geopolitical tensions and economic uncertainty.

Container throughput rises – China trade provides momentum

Group-wide container throughput increased by 7.9 per cent to 3.172 million TEU (H1 2024: 2.940 million TEU). Hamburg terminals handled 3.006 million TEU, up 6.9 percent year-on-year. While volumes fell on North American and Middle Eastern routes, trade with the Far East – especially China – saw marked growth. Traffic to European ports including Belgium, the UK, France and the Netherlands also increased. HHLA attributed the trend partly to continued route adjustments stemming from the conflict in the Red Sea.

International terminals recorded a 28.7 per cent rise in throughput to 165,000 TEU, driven by higher volumes at HHLA PLT Italy and the resumption of waterside handling at Container Terminal Odessa (CTO) in the third quarter of 2024.

Double-digit growth in intermodal segment

The intermodal segment achieved a 19.6 per cent increase in transport volumes, reaching 997,000 TEU (H1 2024: 833,000 TEU). Rail transport rose by 20.2 per cent to 863,000 TEU, particularly on routes linking northern German and Adriatic ports as well as in the DACH region. Road transport expanded by 16.0 per cent to 133,000 TEU.

Revenue in the segment climbed by 22.2 per cent to €400.5 million (H1 2024: €327.7 million). EBIT rose by 23.1 per cent to €48.2 million, with the EBIT margin stable at 12.0 per cent. The increase was mainly driven by higher transport volumes and a greater share of rail freight, though partially offset by operational pressures such as construction works on key rail routes.

Outlook adjusted slightly

For the 2025 financial year, the Executive Board expects Group EBIT of between €195 million and €215 million. EBIT for the Port Logistics subgroup is forecast in the range of €180 million to €200 million. These figures represent a slight adjustment to the guidance issued in March.