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HHLA dividend for 2009 will … (Two)

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The Hamburger Hafen und Logistik AG is in fiscal year 2009 Despite a sharp decline of its handling and transport volumes managed to keep the sales decline in boundaries, a respectable to achieve results and maintain its solid balance sheet, "said CEO Klaus-Dieter Peters. This was more remarkable than the HHLA by the Impact of the current world economic crisis particularly affected was.
In keeping with this course of business, according to Peters an early measures taken by the project "Future" contributed mightily. This course he will also "Difficult financial year 2010 to continue consistently to the Consequences of the recession can be successful and the chances of a Economic recovery exercise.
The economic crisis was the global transport hit disproportionately, "said Peters. Have over many years, the rule of thumb been regarded that the intercontinental container traffic two to three times as grow rapidly as the global economic performance, so did this Confirmed in the context of the crisis in the reverse direction. Especially the HHLA for determining growth markets in Asia, Central and Eastern Europe had collapsed during the crisis particularly strongly.
The logistics group responded in the fourth quarter of 2008 an extensive program of activities. The project "Future" includes a strict cost-cutting program and the adaptation the investment to the changed environment and a package of measures to secure employment with a combination of qualification and short-time working.
The material was 2009 so will be reduced by 28.6%, said the Board. The modernization and expansion program for 2009 to 2012 was stretched. 600 million from an initial 1.2 billion up to moved 2012th The investment volume last year amounted to EUR 159.7 million instead of the planned IPO in 2007 355 million EUR.
By reducing the use of external Employees, the reduction of overtime and in July 2009 introduced short-time work and training was the volume of work at the site Hamburg by over 20% reduced.
The Board is currently negotiating with Employees’ representatives on a redesign of the work and process organization Burchardkai the container terminal as well as a better Capacity management of container terminals and Tollerort Burchardkai.

   

Website: www.hhla.de

-By Kirsten Bienk, Dow Jones Newswires
+49 (0) 40 3574 3116, kirsten.bienk @ dowjones.com
DJG / KiB / brb
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(END) Dow Jones Newswires

March 31, 2010 02:20 ET (06:20 GMT)

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