HAMBURG (Dow Jones) – Hamburger Hafen und Logistik AG (HHLA) expects the current year with increasing pressure on revenue. The Savings would wirtschaftskrisenbedingten offset revenue decreases were only partly able to write the Board in his annual report presented on Wednesday 2009th Would therefore the pressure on operating income and the surplus first increase further. Both values were likely can not build on the previous year. The Situation would result but positive.
Group revenue is slightly below the board, according to the level fall of 2009 from 990.7 million euros. He would, however, still in "Move the range" of 1 billion, the report said.
The Board directed its efforts in the further particulars According anxious to keep the EBIT margin in double figures. 2009 this margin was listed in the sub-group in Port Logistics continuing operations by 9.6 percentage points to Fell 17.2%.
Due to the involvement of partners in the utilization jointly operated activities are the minority shares in the Profit after estimated by the Board in the current year increase.
It is with a view on the financial situation of the Logistics group in spite of the expected revenue decreases in good shape. Financing and liquidity would be in the current year on a "Are secured basis," it said. Due mainly long-term loan designed not apparent in 2010 material need for restructuring.
To maintain a stable balance sheet ratios will the Board of its solid Fiscal policy continued. Thus, further planned investment and Dividend payments as far as possible from the current cash flow and from to cover cash reserves. In the future, the shareholders at least 50% of the surplus obtained.
In the long term, the Board is a positive development. He begründet dies mit der strategischen Aufstellung des Konzerns, der increasing concentration of cargo volume on key international Turnstiles and the increasing integration of emerging Economies into the international division of labor.
Should positive stimulus in the next Months and stabilize in a broad economic recovery result, the board expects in the coming years with a positive Development of sales and earnings.
Website: www.hhla.de -By Kirsten Bienk, Dow Jones Newswires, +49 (0) 40 3574 3116, kirsten.bienk @ dowjones.com DJG / KiB / brb Visit our website http://www.dowjones.de
(END) Dow Jones Newswires
March 31, 2010 02:51 ET (06:51 GMT)
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