The Q3 21 results were margin-driven with an impressive 12% jump in ASP in the Container segment as longer dwell times drove a spike in storage fees, largely offsetting the higher expenses. This contributed to beating consensus on the bottom line despite lower-than-expected volumes. The 11% Q4 21 implicit EBIT margin might look a bit conservative after 13.5% in Q3 21 and given the still ongoing supply-chain constraints.
24 Nov 2021
Q3 21: at least a beneficiary of the maritime mess
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Q3 21: at least a beneficiary of the maritime mess
Hamburger Hafen und Logistik AG (HHFA:ETR) | 0 0 0.0%
- Published:
24 Nov 2021 -
Author:
Valentin Mory -
Pages:
3
The Q3 21 results were margin-driven with an impressive 12% jump in ASP in the Container segment as longer dwell times drove a spike in storage fees, largely offsetting the higher expenses. This contributed to beating consensus on the bottom line despite lower-than-expected volumes. The 11% Q4 21 implicit EBIT margin might look a bit conservative after 13.5% in Q3 21 and given the still ongoing supply-chain constraints.