Home News UPDATE: HHLA own earnings forecast for 2009 reached

UPDATE: HHLA own earnings forecast for 2009 reached

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By Kirsten Dulepov
DOW JONES NEWSWIRES 


HAMBURG (Dow Jones) – Hamburger Hafen und Logistik AG (HHLA) has Raised their 2009 earnings forecasts in the fall meet. The Group revenue is provisional and unaudited figures show that decreased due to global economic crisis to around 988 (1,327) million. EBIT from continuing operations fell to about 176 (358) million. Information on net earnings and the shapes of the Fiscal year 2010 will not be made the logistics on Wednesday. This is the Presentation of the balance sheet at 31 March respectively.

For the listed subgroup Port Logistics HHLA called from a turnover of around 960 (1,299) million and EBIT continuing operations of approximately 164 (344) million. The Dow Jones Newswires survey of analysts had on average only slightly worse values of EUR 955 million or EUR 153 million expected.

The data of the previous year will be a boost for the stock price does not more pressing, "predicted analyst Oliver Drebing of SRH AlsterResearch. According to the announcement contains the Communication companies not providing guidance for the current year. Also hopes to Do not look at the positive development of China-transport were been nurtured. The stock, however, climbed to 9.30 to 2.97% on Clock 28,06 EUR.

The Executive Board of the Hamburg group showed the MDAX with the Achieved satisfactory. He had made for the Group, an EBIT margin continuing operations at the upper end of the range of 14% to 16% in prospect made and shown now 17%. The goal, achieved consolidated sales of 1 billion EUR reach had been described as ambitious, "". That Net result is to "fall significantly" below last year.

We have succeeded in spite of the financial stability of HHLA the worst economic crisis of the postwar period receive, "said CEO Klaus-Dieter Peters. The launched early action program, which not only the Impact of the crisis limited, but also to safeguard future opportunities should, have been effective.

The container handling in the segment were further indications that by 32.9% to 4.9 million standard containers (TEUs). As a basic called the group primarily to the most by the economic crisis strongly taken the port of Hamburg as a leading hub for the trade with Asia and Central and Eastern Europe. In particular, The disproportionate decline in Eastern Europe Economies that had grown dynamically in recent years, have provided for a sharp decline in container traffic, it was said. HHLA had a decrease of more than 30% announced.

The hinterland transport in the intermodal segment would have been can say, however, in a difficult market is still good. The Transports have fallen by 18.5% to 1.5 million tonnes of standard container and thus slightly less than expected. HHLA had with a loss of more than 20% expected.

The coming months see Drebing analyst with mixed Feelings. So far, there is still no concrete evidence of any Upswing. It would no longer ships or cargoes of Chinese Ports on course to leave Hamburg than during the 2nd Half 2009th However, the port and steer towards the HHLA board is anything but to improve idle, the positioning of the Hamburg harbor. As an example, Drebing called the recently reported in Chains Feeder traffic and in the hinterland terminals. May be made North and Central-Eastern Europe will soon be positive impulses to be expected.

Landesbank Baden-Wuerttemberg confirmed its Investment recommendation "buy". The group had its objectives in spite of very difficult circumstances and reach the more conservative Estimate of the bank exceeded slightly, it was said as Justification.

   

Website: www.hhla.de
-By Kirsten Dulepov, Dow Jones Newswires, +49 (0) 40 3574 3116,
kirsten.bienk @ dowjones.com
DJG / kib / cbr
Visit our website http://www.dowjones.de 


(END) Dow Jones Newswires

February 03, 2010 03:45 ET (08:45 GMT)

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