German logistics firm Hamburger Hafen und Logistik AG, or HHLA, (HHULY.PK,HHULF.PK) said it has expanded its position in a difficult market environment during fiscal 2012 and increased its market share in the North Range to 19.6%. Additionally, the Executive Board and Supervisory Board would propose to the Annual General Meeting on June 13, 2013 that the listed shares in the Port Logistics subgroup, accounting for 97% of HHLA revenue, are to receive a fiscal 2012 dividend of 0.65 euros per dividend-entitled share.
In 2012, 7,183 thousand TEU was handled at the HHLA container terminals in Hamburg and Odessa, corresponding to a 1.4% increase.
Full-year EBIT fell by 10% to 186.3 million euros, from the prior year's 207 million euros, stemming largely from additional costs from the further delay in dredging the navigation channel of the river Elbe, rising costs, the higher proportion of lower-margin feeder traffic in container handling, the sharp fall in storage fees due to shorter container dwell times and ramp-up and lead-lag costs for the new operating system at Container Terminal Burchardkai.
HHLA's revenue of 1.13 billion euros in fiscal 2012, was down by 7.3% year-on-year. The company said the main reasons for this were the realignment of the Intermodal segment with the disposal of HHLA's shares in TFG Transfracht, and change in the accounting of fruit logistics, the revenue from which are no longer included in the Group revenue.
For fiscal 2013, HHLA sees Group revenue between 1.1 billion euros and 1.2 billion euros and an operating result ranging between 155 million euros and 175 million euros. Looking ahead, HHLA expects container throughput to reach last year's level and targets to considerably expand container transport by rail.
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