Hamburger Hafen Und Logistik Ag · XETR:HHFA
Hamburger Hafen Und Logistik — 9M 2020 Earnings Presentation
16 slides from Hamburger Hafen Und Logistik's earnings presentation, Nov 12, 2020
Slide 1: Analyst conference call on the interim results January to September 2020
Analyst conference call on the interim results January to September 2020 Hamburg, 12 November 2020 © Hamburger Hafen und Logistik AG
Slide 2: Agenda and Disclaimer
Agenda 01 Remarks on 9M20 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 such person’s directors, officer
Slide 3: Europe and the USA showed a brief respite from the pandemic in 3Q20
Europe and the USA showed a brief respite from the pandemic in 3Q20 Long-term effects on the economy of historic dimension Outbreak evolution for the current 10 most affected countries Estimated global GDP development for 2020 and 2021 different scenarios Forecast given in June 2020 2020 2021 World
Slide 4: Macroeconomic environment in the first nine months of 2020
Macroeconomic environment in the first nine months of 2020 Global economy facing recession as a result of the coronavirus pandemic Trend in the first nine months 2020 y-o-y Macroeconomic environment Global economic activity shows signs of recovery in the third quarter GDP World IMF expects tha
Slide 5: At a glance
At a glance First nine months results 2020 burdened by challenging market environment Revenue and EBIT declined sharply Negative impact of the coronavirus pandemic on the macroeconomic environment weakened somewhat in Q3 High pressure on transport systems due to blank sailings and reduced utilisatio
Slide 6: Financial results of Port Logistics subgroup in the first nine months of 2020
Financial results of Port Logistics subgroup in the first nine months of 2020 Financial results strongly impacted by coronavirus pandemic Revenue EBIT EBIT margin € 937.4 million € 96.6 million 10.3 % ‒ 8.1 % ‒ 40.7 % ‒ 5.6 pp Profit after tax ROCE Operating cash flow and minorities 6.8 % € 187.6 mi
Slide 7: Throughput and transport trend in the first nine months of 2020
Throughput and transport trend in the first nine months of 2020 Reduction in container transport less pronounced Container throughput in thousand TEU Container transport in thousand TEU -11.2% -4.6% 5,730 5,086 1,184 1,129 1,796 1,549 1,741 378 340 411 9M19 1Q20 2Q20 3Q20 9M20 9M19 1Q20 2Q20 3Q20 9M
Slide 8: Container segment
Container segment Drop in volumes burdens revenue development, EBIT impacted by a disproportionate fall in opex Revenue ■ 9M19 ■ 9M20 OpEx ■ 9M19 ■ 9M20 Revenue significantly down as a result of lower volumes -9.4% -2.7% 605.5 492.9 479.7 Average revenue per TEU up by 2.0 % due 548.4 to − advant
Slide 9: Intermodal segment
Intermodal segment EBIT affected by lower volumes and fall in utilisation of the rail systems, EBIT margin still at a sound level Revenue OpEx Decline in revenue mainly volume-driven in € million in € million Despite a slight increase in rail share of -5.2% -1.9% total transportation volume from
Slide 10: Logistics segment
Logistics segment Vehicle logistics, consulting activities, digital projects and participations Revenue EBIT Revenue strongly down due to in € million in € million ‒ strong decline in vehicle logistics -13.5% Neg. 43.9 1.7 ‒ consulting activities strongly 37.9 below prior-year level ‒ first-time c
Slide 11: Earnings bridge of the Port Logistics subgroup
Earnings bridge of the Port Logistics subgroup Net profit showed strong decline in € million / absolute change 9M20 vs. 9M19 - 2.0 + 1.2 96.6 1.7 EPS 25.2 € 0.45 + 14.0 21.8 - 7.6 20.0 31.3 ‒40.7 % Effective tax rate ‒ 59.2 % at 29.8% EBIT At-equity Net financial Tax Minorities Net profit earnings e
Slide 12: Cash flow development of the Port Logistics subgroup in the first nine months
Cash flow development of the Port Logistics subgroup in the first nine months 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 -23.9% -27.5% -18.8% 246.4 187.6 -81.5 -1
Slide 13: Financial stability with focus on cash flows
Financial stability with focus on cash flows Liquidity remains primary focus for management Net debt Port Logistics Focus on cash flow control in € million 1,395 Dividend policy to strengthen financial 1,374 Available liquidity stability: € 201.8 m ‒ reduction of dividend to € 0.70 496 523 per l
Slide 14: Expected macroeconomic and sector development for 2020
Expected macroeconomic and sector development for 2020 Updated forecasts factor in a larger hit to activity in H1 and a slower path to recovery in H2 GDP World ‒ 4.4 % Expected macroeconomic environment 2020 Global economic downturn less negative than expected ( 0.8 pp), outlook still subdued GDP
Slide 15: Forecast for Port Logistics subgroup unchanged except for transport volumes
Forecast for Port Logistics subgroup unchanged except for transport volumes Decline in transport less pronounced than recently expected; still a sharp decline in all other areas 2019 Guidance 2020 Container throughput 7,577 thousand TEU Strong decrease on previous year Significant decrease on previo
Slide 16: Financial calendar / IR contact
Financial calendar / IR contact Financial calendar 2021 IR contact Phone: +49 40 3088 3100 25 March 2021 Annual Report 2020 Fax: +49 40 3088 55 3100 Analyst conference call E-mail: investor-relations@hhla.de 12 May 2021 Web: www.hhla.de Interim Statement January – March 2021 Analyst conference call
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