German logistics company HHLA has had a very successful first half of 2025. Revenue (884,5 million euros) and EBIT (79,4 million euros) are up substantially, by 16,3% and 34,8% respectively. The company points to intermodal growth as one of the major driving factors behind the positive start of 2025.
“Despite geopolitical tension and economic uncertainty, HHLA fared very successfully in the first half of 2025”, said Angela Titzrath, CEO of the company. “The Intermodal segment recorded particularly strong revenue growth thanks to an increase in road and rail transport.”
“Container handling at the terminals also rose significantly. This underscores the effectiveness of our integrated Europe-wide logistics solutions. Our performance also demonstrates that HHLA is well placed to navigate safely through an environment that remains volatile – and to continue its growth as it looks to the future.”
Revenue in the HHLA Group grew by 16,3% to 884,5 million euros (up from 760,3 million euros). Its operating result (EBIT) surged by 34,8% to 79,4 million euros (up from 58.9 million euros).
Intermodal and rail
Container transport at HHLA increased by 19,6% to 997 thousand TEU. The container terminals also saw a positive dynamic in the throughput volume: up by 28,7% to 165 thousand TEU. That includes growth at HHLA PLT Italy, but importantly also the resumption of seaborne handling at Container Terminal Odessa in Q3 2024. The revenue of the international container terminals grew by 12,6% in H1 2025 to 426,2 million euros, up from 378,7 million euros.
Rail transports are up substantially, by 20,2%, for a total of 863 thousand TEU. “This strong volume growth was largely due to traffic with the North German and Adriatic seaports, as well as traffic in the German-speaking countries”, explains HHLA. Road transports also grew by 16% to 133 thousand TEU.
The EBIT of the HHLA’s rail segment amounted to 48,2 million euros in H1 2025. It was therefore 23,1% higher than H1 2024: 39,2 million euros. “The main reason for this strong EBIT growth was the increase in transport volumes. By contrast, operational difficulties due, among other factors, to construction work on major transport routes weighed on the result”, HHLA says.
The company’s Port Logistics subgroup also noted a revenue increase of 16,6% (865,7 million euros).
Earnings forecast
HHLA has narrowed its earnings forecast for 2025 following business developments in the first half of the year. At the Group level, EBIT is now projected to range between 195 million and 215 million euros, compared to the previous outlook of 195 million to 235 million euros.
For the Port Logistics subgroup, the EBIT forecast has been reduced to between 180 million and 200 million euros, down from the earlier range of 180 million to 220 million euros.