Based on the business development to date and updated estimates for the further development of the 2026 financial year, the Executive Board of Hamburger Hafen und Logistik AG decided to adjust the outlook for the current financial year.

The extensive modernisation measures to automate the Hamburg container terminals together with comprehensive infrastructure measures relating to the rail network have had a greater impact on operations than originally expected. As a result, the throughput and transport volumes have fallen short of the original assumptions. At the same time, the challenging macroeconomic environment and ongoing geopolitical uncertainties have weighed on the business development. Furthermore, in light of recent developments, it is no longer expected that HHLA will be able to fully offset the impact of the winter weather at the beginning of the year during the remainder of the financial year. Against this backdrop, the Executive Board expects a lower revenue and earnings development for the 2026 financial year than previously forecast.

For the Port Logistics subgroup, a slight decrease is now expected year-on-year in container throughput (previously: significant increase). For container transport, a slight rise compared to the prior year is now expected (previously: strong rise).

For revenue, a significant year-on-year increase is expected (previously: strong increase). The forecast for the operating result (EBIT) has been adjusted due to the reasons outlined above and now ranges from € 135 to 155 million (previously: between € 160 and 180 million).

For the Real Estate subgroup, revenue is still expected to remain at the prior-year level, while a significant decrease is forecast for operating result (EBIT).

Accordingly, at Group level, a significant increase in revenue is now expected (previously: strong increase). The forecast operating result (EBIT) has also been adjusted as a result of the changed assumptions and is now within a range between € 150 and 170 million (previously: between € 175 and 195 million).