HHLA Q1 Profit, Revenue Up; Backs FY View

German logistics and transportation company Hamburger Hafen und Logistik AG or HHLA (HHULF.PK,HHULY.PK) Wednesday reported that its profit after tax for the first quarter rose 57.6 percent to 28.2 million euros, and earnings per share surged more than 155 percent to 0.27 euro from 0.11 euro.

The Group's operating result or EBIT rose more than 26 percent to 46.3 million euros, backed by high storage fees as a result of continued shipping delays at the Port of Hamburg as well as a strong increase in container transport volumes.

Group revenue in the first quarter increased by 3.9 percent to 348.7 million euros from last year's 335.7 million euros.

Looking ahead to the full year 2021, the group said it is confirming its forecast. At the Group level, it expects a moderate increase in revenue and EBIT in the range of 153 million and 178 million euros.

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