Hamburger Hafen und Logistik AG (HHLA) has lowered its financial outlook for 2026, citing greater-than-expected operational impact from ongoing automation works at its Hamburg container terminals and related rail infrastructure upgrades.
The Executive Board said throughput and transport volumes have fallen short of original assumptions as modernisation measures to automate the terminals, combined with rail network improvements, disrupted operations more than anticipated. A challenging macroeconomic environment and continued geopolitical uncertainty have added further pressure.
The company also said it no longer expects to fully offset the impact of severe winter weather earlier in the year during the remainder of 2026.
For the Port Logistics subgroup, HHLA now expects container throughput to decline slightly year-on-year, having previously forecast a significant increase. Container transport is now expected to see only a slight rise, down from a previously forecast strong rise.
READ: Hamburg automation push forces HHLA to cut profit outlook
Revenue for the subgroup is still expected to increase significantly year-on-year, though this is a downgrade from the “strong increase” previously guided. The subgroup’s operating result (EBIT) forecast has been cut to a range of €135 million to €155 million ($153 million to $176 million), down from €160 million to €180 million ($181 million to $204 million).
At Group level, HHLA now expects a significant increase in revenue, revised down from a previously forecast strong increase. Group operating result (EBIT) guidance has been reduced to between €150 million and €170 million ($170 million and $193 million), down from €175 million to €195 million ($198 million to $221 million).
The company’s Real Estate subgroup is still expected to hold revenue at prior-year levels, though a significant decrease in operating result (EBIT) is now forecast for that segment.
