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The Hamburger Hafen und Logistik AG (HHLA) recorded a mixed business development in the first quarter of 2026, influenced by extreme weather conditions and geopolitical tensions. Container throughput decreased by 5.3% to 1,462,000 TEU, while the group’s revenue increased by 3.5% to EUR 450.9 million. The operating profit (EBIT) fell by 6.3% to EUR 30.5 million.
Weather influences and operational challenges
Operations at the Hamburg container terminals were temporarily restricted due to a severe winter onset. This led to delays in rail transport, where track closures and frozen switches disrupted processes. Despite these challenges, HHLA was able to increase its revenue, attributed to stable demand and price adjustments.
In the port logistics segment, revenue rose by 3.6% to EUR 441.8 million, while EBIT decreased by 5.5% to EUR 27.2 million. The EBIT margin fell to 6.1%. Container throughput at the Hamburg terminals dropped by 6.6% to 1,374,000 TEU. The development was characterized by weather-related restrictions and shifts in overseas traffic.
Intermodal and real estate segment
In the intermodal segment, container transport decreased by 1.5% to 489,000 TEU. Rail transport fell by 1.1%, attributed to declining traffic with North German and Adriatic seaports. However, revenues in this segment increased by 1.8% to EUR 205.6 million, supported by price adjustments and a higher rail share.
The HHLA real estate in the Speicherstadt and on the Fischmarkt area in Hamburg showed stable development with near full occupancy. Revenues remained at the previous year’s level of EUR 11.6 million, while EBIT decreased by 12.3% to EUR 3.2 million, due to higher maintenance costs.
Outlook for the 2026 financial year
HHLA confirms that no new significant events occurred in the first quarter of 2026 that would necessitate an adjustment of expectations for the business development for the entire year. The group remains optimistic about overcoming market challenges and advancing the modernization and automation of the terminals.
