Hamburg terminal upsets see HHLA cut profit forecast again

Hamburg port operator HHLA has lowered its 2026 earnings forecast for the second time in three months, citing strike-related disruptions and the continued rollout of automation at its container terminals. The company now expects a significant decline in container throughput this year, rather than the slight decrease previously forecast.

The German port and logistics group announced on 22 October that it expects operating profit of between €115 million and €135 million for 2026, down from its previous forecast of €150 million to €170 million.

For its Port Logistics subgroup, which includes container terminal operations and intermodal transport, HHLA has reduced its EBIT forecast to between €100 million and €120 million, compared with the previous range of €135 million to €155 million.

According to HHLA’s announcement, strike-related disruptions and the ramp-up of further automation at its Hamburg terminals have caused container throughput to fall short of expectations, weighing on earnings.

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