Receive our newsletter – data, insights and analysis delivered to you
February 9, 2010

German Port Groups Report Fall in Operating Income

Germany’s Hamburger Hafen und Logistik AG has reported €176m ($242.7m) in Earnings Before Interest and Tax (EBIT) on a revenue of €988m ($1.3bn). The obtained operating income of the company represents a fall of approximately half in terms of EBIT, with 2008 seeing a result of €358m ($493

By cms admin

Germany’s Hamburger Hafen und Logistik AG has reported €176m ($242.7m) in Earnings Before Interest and Tax (EBIT) on a revenue of €988m ($1.3bn).

The obtained operating income of the company represents a fall of approximately half in terms of EBIT, with 2008 seeing a result of €358m ($493.6m) on a revenue of €1.3bn ($1.7bn).

The core container terminal reported a fall in EBIT of about €164m ($226.1m), as the volumes of containers fell by 32.9% to 4.9m TEU over 2009.

The container volumes across the terminals of Eurogate, the joint venture between the German port operators Eurokai and BLG, fell by 12.3% while the Italian ports joint venture, Contship Italia, saw volumes fall by only 9.9%.

Eurogate Group chairman Thomas Eckelmann said the company would post a profit when the fully audited figures are published in April 2010.

German exports however continue to see continuing recovery and therefore German ports may have a better than average recovery, Eckelmann said.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU