HHLA Lowers 2026 Earnings Forecast Amid Lower Hamburg Throughput

Hamburger Hafen und Logistik AG (HHLA) has lowered its operating result (EBIT) forecast for fiscal year 2026, following lower-than-expected container throughput at its Hamburg terminals. The company attributed the adjustment to strike-related disruptions, the ramp-up phase of increased automation at the terminals, and a non-cash impairment recorded in its Logistics segment.

At group level, HHLA now expects EBIT of between €115 million and €135 million, down from the previous projection of between €150 million and €170 million, according to Port Strategy and Ports News Russia. Portal Portuario, however, placed the new forecast between $130 million and $150 million, below the previous range of between $170 million and $190 million.

The Port Logistics subgroup, HHLA's main operating unit, now projects EBIT of between €100 million and €120 million for 2026, down from the previous range of €135 million to €155 million, according to Port Strategy and Ports News Russia. Portal Portuario reported this same revision in dollars, with a new range of between $110 million and $135 million, compared with the previous forecast of between $150 million and $175 million.

The company reported that, as part of its strategic focus on its core business, it reviewed its portfolio of capital investments in new business activities and spin-offs, resulting in a non-cash impairment loss of approximately €12 million in the Logistics segment, according to Port Strategy and Ports News Russia. Portal Portuario put this impairment at approximately $13.45 million.

HHLA also revised its container volume forecast, now anticipating a significant year-on-year decline instead of the slight drop previously expected. Despite this adjustment, the company kept its revenue and container transport forecasts unchanged, with a significant increase expected in revenue and a slight rise in transport volume.