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Hamburger Hafen Und Logistik FY20 EBIT, Revenues Down; To Propose Dividend

Hamburger Hafen und Logistik AG or HHLA (HHULF.PK,HHULY.PK) Wednesday said it achieved a positive Group operating result for fiscal 2020, despite restrictions on business due to the efforts to combat the coronavirus pandemic.

Group operating result or EBIT was around 123 million euros, down from previous year's 221 million euros.

Adjusted for one provision, Group EBIT would be approximately 166 million euros.

In the financial year, Group revenue amounted to around 1.30 billion euros, lower than previous year's 1.38 billion euros.

In the listed Port Logistics subgroup, revenue declined to 1.27 billion euros from 1.35 billion euros last year.

Throughput volume in the Container segment decreased 10.6 percent to 6,776 thousand standard containers or TEU.

Further, the company said its Executive Board intends to propose a dividend to the Supervisory Board and Annual General Meeting of 50 to 70 percent of the result for the Port Logistics subgroup based on the previously communicated payout ratio.

HHLA will publish complete figures for the 2020 financial year and a business forecast for fiscal 2021 on March 25.

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