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HHLA H1 Profit Plunges; Sees Further Strong Decline In FY20 Results - Quick Facts

Hamburger Hafen und Logistik AG or HHLA (HHULF.PK,HHULY.PK), a German logistics and transportation company, reported Monday that its first-half profit after tax and minority interests fell 74.2 percent to 14.1 million euros from last year's 54.7 million euros.

The operating result or EBIT decreased 51.5 percent to 55.5 million euros. EBIT margin was 8.8 percent, down 7.7 percentage points from last year.

EBITDA declined 27.4 percent to 140.1 million euros from last year's 192.9 million euros.

Group revenue decreased 9.4 percent to 628.4 million euros from 693.7 million euros a year ago.

Looking ahead, the company projects further strong decline in revenue and earnings for the 2020 financial year.

The company said it has sufficient liquidity despite the strains caused by the pandemic. The available liquidity at the end of the first half amounted to 296.1 million euros, compared to 260.1 million euros last year.

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