HHLA records solid growth in an uncertain environment – tax-related one-off effects weigh heavily on net profit

_{Hamburger Hafen und Logistik Aktiengesellschaft
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HHLA records solid growth in an uncertain environment – tax-related one-off effects weigh heavily on net profit

Hamburg, 18 February 2026 | According to preliminary, unaudited figures, Hamburger Hafen und Logistik AG (HHLA) increased its Group revenue by 9.9 percent to € 1,756 million in the 2025 financial year (previous year: € 1,598 million). Group operating result (EBIT) rose by 19.5 percent to € 161 million (previous year: € 134 million). Heavily burdened by tax-related one-off effects, Group profit after tax and minority interests amounted to € 10 million (previous year: € 33 million), of which € 1 million was attributable to the Port Logistics subgroup. Against this background, the Executive Board will propose to the Annual General Meeting that no dividend be distributed for the class A share for the 2025 financial year.

In the listed Port Logistics subgroup, revenue increased by 10.1 percent to € 1,719 million (previous year: € 1,562 million). Operating result (EBIT) rose year-on-year by 22.8 percent to € 145 million (previous year: € 118 million). Overall, operating business development in 2025 was characterized by positive volume growth in handling and transport. Despite a slowdown in the second half of the year due to increasing global economic uncertainties and ongoing supply chain disruptions, as well as extensive modernisation measures to automate the Hamburg port facilities while operations continued, the business developed in an overall stable manner. By contrast, profit after tax and minority interests was heavily impacted by tax-related one-off effects – primarily impairments of deferred tax assets – and amounted to € 1 million (previous year: € 23 million). This corresponds to earnings per class A share of € 0.02 (previous year: € 0.32).

While revenue in the Real Estate subgroup remained at the previous year’s level at € 46 million, operating result (EBIT) declined by 4.4 percent to € 15 million (previous year: € 16 million). This was attributable to high one-off expenses for non-operating services in the third quarter, which could not be fully offset by the effects of increased rental income and reduced maintenance costs. Profit after tax and minority interests accordingly amounted to € 9 million (previous year: € 10 million). This corresponds to earnings per class S share of € 3.20 (previous year: € 3.52).

 

Class A shares
ISIN: DE0000A0S8488, SIC: A0S848
Listings: Regulated Market in Frankfurt (Prime Standard), Hamburg