HHLA’s Q3 22 figures came in slightly above estimates. As shipping rates plummeted during the Q3 on lower demand, this translated into plunging volume throughput. This has yet to materialise in HHLA’s top line which remains protected by record-high storage fees. The margin has however already pivoted since its has been squeezed by increasing cost inflation pressure. FY22 guidance adjustments saw trimmed expectations for container throughput and capex, increased revenue forecasts and confirmed EB ....
