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HHLA Q1 Net Profit Down, EBIT Rises; Confirms FY18 View - Quick Facts

Hamburger Hafen und Logistik AG (HHULF.PK,HHULY.PK) or HHLA reported Tuesday that its first-quarter profit after tax and minority interests fell 2.8% to 23.7 million euros from last year's 24.4 million euros.

Operating result or EBIT grew 5.9% to 47.9 million euros, and EBITDA grew 3.6 percent to 77.8 million euros.

EBIT margin grew 0.4 percentage points to 15.2 percent and EBITDA margin went up 0.1 points to 24.7 percent.

Revenue increased 3.3 percent to 315.2 million euros from 305.1 million euros a year ago.

Both subgroups, the listed Port Logistics subgroup and the Real Estate subgroup, contributed to the good start this year, the company noted. A 2.6 % increase in container handling was recorded, while container transport declined by 5.3 % due to the realignment of Polzug's activities. Revenue in the Port Logistics subgroup was up 3.3 %.

Looking ahead, HHLA confirmed its target for the current financial year of at least keeping revenue stable on par with the high level of the previous year and achieving considerably higher EBIT in the Port Logistics subgroup and at Group level.

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