The renowned Hamburg port logistics company HHLA had to accept losses last year due to the faltering economy, which were below expectations. As the company announced on Monday evening, the profit before interest and taxes (EBIT) was 109 million euros - significantly below the forecasted range of 115 to 135 million euros.

Compared to the previous year, which still saw a profit of 220 million euros, this therefore represents a significant decline. Revenue also recorded a noticeable drop, with a decrease of 8.3 percent to 1.45 billion euros.

HHLA Chief Angela Titzrath Explained That the Conflict in Ukraine, Geopolitical Tensions, High Inflation, and Rising Interest Rates Significantly Burdened the Global Economy in 2022. This Also Affected the Entire Logistics Industry and Consequently HHLA's Business. Nevertheless, Titzrath Emphasized the Company's Targeted Investments Aimed at Increasing Efficiency Through Automation and Expanding Sustainable and Integrated Logistics Solutions.

In the company-wide container handling, HHLA had to accept a decrease of 7.5 percent to a total of 5.9 million standard containers (TEU). The decline was slightly less at the Hamburg container terminals, with a decrease of 6.3 percent. The transport volume also decreased by 5.4 percent to 1.6 million TEU.

The HHLA will announce the complete financial figures for the past year on March 21. Despite the decline in profits, the company remains confident and continues to rely on long-term strategies to counteract market challenges.