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HHLA Projects Strong Decrease In 2020 Earnings - Quick Facts

Hamburger Hafen und Logistik AG (HHULF.PK,HHULY.PK) said the company projects strong decrease in 2020 earnings due to coronavirus pandemic. The company assumes that revenue and operating result (EBIT) for the Port Logistics subgroup will be strongly below previous year. HHLA expects negative effects in the first half of the year as a result of the pandemic.

HHLA assumes that its liquidity should enable the company to meet all its payment obligations despite the burden caused by the pandemic. HHLA will continually review and adjust its investments and cost development.

At the AGM on 10 June 2020, the Executive Board and Supervisory Board will propose a dividend of 0.70 euros per dividend-entitled class A share. This would decrease the dividend by 12.5 percent from prior year. The company noted that the payout ratio
of 52 percent is still within the target range of 50 to 70 percent.

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