The port operator’s revenue was up by 3.2% to €1.18bn last year which is above our expectations (€1.15bn). However, earnings fell slightly short. HHLA generated EBITDA of €286m (+1.8%) and EBIT of €164m (+4.8%) while net profit after minorities (excluding the profit generated by Property, which does not belong to free-float shareholders) came in at €63.7m compared to €58.9m a year ago. We had expected net earnings of €73m and management proposes an unc
30 Mar 2017
2016 earnings lower than we had expected
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2016 earnings lower than we had expected
Hamburger Hafen und Logistik AG (HHFA:WBO) | 0 0 8.5% | Mkt Cap: 1,486m
- Published:
30 Mar 2017 -
Author:
Hans-Peter Wodniok -
Pages:
2
The port operator’s revenue was up by 3.2% to €1.18bn last year which is above our expectations (€1.15bn). However, earnings fell slightly short. HHLA generated EBITDA of €286m (+1.8%) and EBIT of €164m (+4.8%) while net profit after minorities (excluding the profit generated by Property, which does not belong to free-float shareholders) came in at €63.7m compared to €58.9m a year ago. We had expected net earnings of €73m and management proposes an unc