Positive results in the first half. The group confirms forecasts for 2025
Hamburg – Hamburger Hafen und Logistik AG (HHLA) closed the first half of 2025 with strong growth results, despite a context marked by the weakness of the German economy, geopolitical tensions, and uncertainties related to U.S. trade policy. In the first six months of the year, the group’s revenue rose by 16.3% to €884.5 million, while operating profit (EBIT) increased by 34.8% to €79.4 million, with a margin of 9% compared to 7.7% in 2024. Net profit after minorities stood at €19.1 million, up from €13.2 million in the same period the previous year.
The publicly listed Port Logistics division reported revenue of €865.7 million (+16.6%), EBIT of €72.4 million (+40.1%), and net profit of €15.3 million compared to €8.9 million in 2024. The container terminals handled a total of 3.17 million TEUs, an increase of 7.9%. Traffic at the Hamburg terminals grew by 6.9% to 3.0 million TEUs, with declines in flows from North America and the Middle East offset by increased traffic with the Far East, particularly China, and European ports such as Belgium, the United Kingdom, France, and the Netherlands, partly due to route diversions caused by the conflict in the Red Sea. Feeder traffic saw strong growth, driven by connections with Finland, Poland, and Germany, while volumes from Estonia declined. The share of maritime traffic handled by feeders rose to 19.6% from 18.7% in 2024.
The international terminals recorded a 28.7% increase to 165 thousand TEUs, supported by growth at HHLA Plt Italy and the resumption of operations in Odessa from the third quarter of 2024. The container segment reported revenue of €426.2 million (+12.6%) and EBIT of €42.8 million (+24.5%), with a margin of 10%.
Intermodal showed the strongest growth: container transport rose by 19.6% to 997 thousand TEUs, with rail at 863 thousand TEUs (+20.2%) and road at 133 thousand (+16%). Revenue grew by 22.2% to €400.5 million, benefiting from tariff adjustments and the increased share of rail transport. EBIT increased by 23.1% to €48.2 million, with a stable margin of 12%, despite operational challenges due to work on major rail arteries.
Real Estate, with properties in Hamburg’s Speicherstadt and fish market area, maintained near-full occupancy. Revenue rose by 1.8% to €23.4 million, but EBIT fell by 3.4% to €6.7 million due to higher non-operating costs and depreciation.
The group confirms its forecasts for 2025, now projecting consolidated EBIT between €195 and €215 million and Port Logistics division EBIT between €180 and €200 million. For CEO Angela Titzrath, the results demonstrate the strength of HHLA’s integrated model, capable of generating growth even in an uncertain global scenario.
