HHLA's profits collapse

The profits of the Hamburg port operator HHLA continue to ebb. The earnings before interest and taxes (EBIT) of the listed port logistics subgroup fell by more than 24 percent to 26.5 million euros in the third quarter, as Hamburger Hafen und Logistik AG announced on Thursday. The city of Hamburg holds 50.1 percent of the shares in HHLA, 49.9 percent belong to the world's largest maritime group MSC, based in Geneva.

The start-up phase for automation in the Hamburg terminals as well as failures due to strikes affected container throughput, which fell by 8.6 percent across the group to almost 1.5 million standard containers (TEU). “We have made good progress with our change agenda, but operationally we are not yet where we want to be,” explained HHLA boss Jeroen Eijsink.

In addition to the three terminals at its headquarters in Hamburg, HHLA also operates facilities abroad, including in Odessa, Ukraine. There, HHLA feels that Russia has recently increased its attacks on the Black Sea port again. After HHLA's business in Odessa initially recovered in 2026, it almost came to a standstill between July and September due to the tense security situation.

In the intermodal business, i.e. hinterland connections by rail and road, the signs were that container transport and operating profits were growing. Sales here also increased above average by a good ten percent. In the Port Logistics subgroup as a whole, revenue grew by four percent to a good 455 million euros, partly due to higher prices. In addition to the subgroup, HHLA also owns the real estate business around Hamburg's Speicherstadt and Fischmarkt.