Hamburger Hafen Und Logistik AG (HHULF.PK, HHULY.PK), a German logistic company, on Wednesday registered a net loss and a decline in revenue for the first-quarter.
Angela Titzrath, CEO of HHLA, said: "The start of HHLA in 2024 was made even more difficult by the disruptions in the supply chains due to the situation in the Red Sea and the challenging economic environment. Ships were delayed at the ports, which in turn affected HHLA's container terminals and hinterland traffic."
In addition, the Group has reaffirmed its annual revenue guidance.
For the first-quarter, the company recorded a net loss of 1.1 million euros, compared with a net profit of 2.8 million euros, posted for the same period last year.
EBIT stood at 17.4 million euros as against last year's 22.9 million euros.
EBITDA slipped to 61.6 million euros from 67.2 million euros last year.
Revenue moved down slightly to 363.6 million euros from 364.7 million euros in 2023.
Looking ahead, for the full year, the Group still expects to register EBIT of 85 million euros to 115 million euros, with a moderate increase in revenue.
The company continues to project annual capital expenditure of 400 million euros to 450 million euros.
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