Hamburger Hafen Und Logistik Ag · XETR:HHFA
Hamburger Hafen Und Logistik — Q1 2020 Earnings Presentation
18 slides from Hamburger Hafen Und Logistik's earnings presentation, May 12, 2020
Slide 1: Analyst conference call on the interim results January to March 2020
Analyst conference call on the interim results January to March 2020 Hamburg, 12 May 2020 © Hamburger Hafen und Logistik AG
Slide 2: Agenda
Agenda 01 Update on the last financial and analyst call Disclaimer Angela Titzrath, CEO The facts and information contained herein are as up to date as is reasonably possible and are subject to revision in the future. Neither the Company nor any of its parent or subsidiary undertakings nor any of su
Slide 3: Circumstances have worsened since 25th March
Circumstances have worsened since 25th March Update from analyst and investor call on FY19 Economy Pandemic (Daily confirmed new cases (5-day moving average) Economic researchers are increasingly pessimistic on the “Flatten the curve” partially successful effects of the pandemic and the necessary
Slide 4: Current situation at HHLA
Current situation at HHLA Corona has taken hold of economic life in Europe and the Americas, while China is returning to production Container segment Intermodal segment Significant decrease in throughput volumes Global volume drop affects Intermodal business Decrease of container throughput due to
Slide 5: At a glance
At a glance Challenging market environment highly affects the first quarter results 2020 Revenues fell moderately while EBIT declined strongly with a corresponding impact on profitability Market environment in Q1 affected by poor weather conditions and the first signs of a weakening of trade due to
Slide 6: Business environment in the first quarter 2020
Business environment in the first quarter 2020 Global economic facing recession as a result of the coronavirus pandemic Trend in the first quarter 2020 Macroeconomic environment IMF believes it is very likely that the global economy will experience the worst recession GDP World since the Great D
Slide 7: Financial results of Port Logistics subgroup in the first quarter 2020
Financial results of Port Logistics subgroup in the first quarter 2020 Revenue EBIT EBIT margin € 327.4 million € 32.5 million 9.9 % ‒ 3.7 % ‒ 41.7 % ‒ 6.5 pp Profit after tax ROCE Operating cash flow and minorities 6.9 % € 73.5 million € 7.7 million ‒ 5.4 pp ‒ 17.9 % ‒ 71.7 % 12 May 2020 Analyst co
Slide 8: Throughput and transport trend in the first quarter 2020
Throughput and transport trend in the first quarter 2020 Performance affected by poor weather conditions and the first effects of the coronavirus pandemic Container throughput in thousand TEU Container transport in thousand TEU -3.7% -5.1% 1,865 1,905 1,960 1,847 1,796 402 398 384 381 378 1Q19 2Q19
Slide 9: Container segment
Container segment In addition to a drop in volumes, EBIT was impacted by a rise in opex Revenue ■ 1Q19 ■ 1Q20 OpEx ■ 1Q19 ■ 1Q20 Revenue slightly down as a result of lower +4.1% volumes -2.6% 200.9 195.6 169.8 Average revenue per TEU up 1.1 % due to 163.1 +1.1% +8.1% − advantageous modal split w
Slide 10: Intermodal segment
Intermodal segment EBIT affected by lower volumes and utilisation of the train systems, EBIT margin still on a sound level Revenue OpEx Decrease in revenue slightly stronger in € million in € million than decline in transport volume -5.8% +0.9% Despite a slight increase in rail share in 123.9 11
Slide 11: Logistics segment
Logistics segment Integration and management of digital projects and participations Revenue EBIT Strengthening of the Logistics in € million in € million -0.7% segment: digital projects and Neg. investments bundled in this segment 14.3 14.2 0.7 from now on Revenue almost in line with previous ye
Slide 12: Earnings bridge of the Port Logistics subgroup
Earnings bridge of the Port Logistics subgroup Net profit showed a stable development in € million / absolute change vs. 1Q19 32.5 - 0.8 - 2.3 0.4 EPS € 0.11 10.7 - 5.6 6.8 - 1.2 7.7 7.7 ‒ 41.7 % Effective tax rate ‒ 71.7 % at 30.6% EBIT At-equity Net financial Tax Minorities Net profit earnings exp
Slide 13: Cash flow development of the Port Logistics subgroup
Cash flow development of the Port Logistics subgroup In line with business development Cash flow from operating activities Cash flow from investing activities Cash flow from financing activities in € million in € million in € million -17.9% +36.9% -16.7% 89.6 73.5 -46.8 -13.6 -64.1 -16.3 1Q19 1Q20 1
Slide 14: Financial stability with focus on cash flows
Financial stability with focus on cash flows Net debt Port Logistics Available liquidity as of in € million 31 March 2020: € 236.5 million 1.395,0 1.336,0 Dividend policy to strengthen financial stability: 496,3 455,5 ‒ Reduction of dividend proposal to 0.70 € per listed class A share (previous
Slide 15: Expected business environment 2020
Expected business environment 2020 Corona pandemic with massive impact on macroeconomic perspectives GDP World ‒ 3.0 % Expected macroeconomic environment 2020 Baseline scenario: pandemic fades in H2, containment can be gradually unwound GDP China + 1.2 % Global economy down sharply ( 6.3 pp), far
Slide 16: Forecast for Port Logistics subgroup 2020
Forecast for Port Logistics subgroup 2020 Very high degree of uncertainty 2019 Guidance 2020 Container throughput 7,577 thousand TEU Strong decrease on previous year Container transport 1,565 thousand TEU Strong decrease on previous year Revenues € 1,350.0 million Strong decline on previous year EBI
Slide 17: Financial calendar / IR contact
Financial calendar / IR contact Financial calendar 2020 IR contact Phone: +49 40 3088 3397 25 March 2020 Annual Report 2019 Fax: +49 40 3088 55 3397 Analyst conference call E-mail: investor-relations@hhla.de 12 May 2020 Web: www.hhla.de Interim Statement January – March 2020 Analyst conference call
Slide 18: First signs suggest that the situation in China is returning to normal
First signs suggest that the situation in China is returning to normal Ship calls in the ports of Shanghai and Yangshan HHLA has transparency on ship movements in China 510 In 2020, in the context of Chinese New Year, a significant decline compared to 2019 460 Return to previous year's level d
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